The TriZetto Group, Inc. , the Newport Beach, Calif.-based healthcare ASP, has signed a $32 million agreement with M*Plan, a 178,000-member health plan based in Indianapolis, Ind.
Under the six-year contract, TriZetto will host and manage its Erisco’s Facets administrative software for M*Plan be responsible for processing medical claims, enrollment and other transactions.
For a monthly fee, M*Plan will have access to Facets technology through TriZetto’s main data center in Greenwood Village, Colo. The Facets system will provide processing capability for essential health plan functions, including enrollment, member eligibility, benefits tracking, billing and claims.
TriZetto, which acquired Erisco in the fall of 2000 was able to combine its software hosting expertise with Facets’ functionality and take advantage of its industry-wide acceptance. The firm says the agreement further exemplifies its ability to deliver its applications on a licensed or hosted basis.
“This agreement gives M*Plan the premier managed care administration system on the market with the advantages of TriZetto’s hosted delivery model, including faster implementation time, ongoing technical support, and an attractive, predictable pricing structure,” says Alex Slabosky, president of M*Plan. “The hosted option clearly made the most sense for us.”
“It’s rewarding to see new TriZetto customers, as well as existing Facets license customers, moving toward the hosted Facets option,” saysDan Spirek, president of TriZetto’s Business Solutions unit. “The benefits include lower up-front and ongoing costs, as well as upgrades and guaranteed performance levels. TriZetto benefits as well, from the monthly revenue stream associated with hosted software contracts.”
The TriZetto Group, Inc., provides a portfolio of healthcare IT products and services -business applications, consulting services and business services, such as claims, billing and enrollment processing, that can be provided on a licensed or hosted basis.
Focused exclusively on healthcare, TriZetto serves more than 500 payers, providers and benefits administrators. Its payer customers serve more than 90 million health plan members, or approximately 40 percent of the insured population of the United States.
