SEC Info - Trizetto Group Inc. On: Friday, 3/1. ET . 2. 05. 49 FORM 1. K FOR ANNUAL AND TRANSITION REPORTS PURSUANT TO SECTIONS 1. OR 1. 5(d) OF THE SECURITIES EXCHANGE ACT OF 1. ANNUAL REPORT PURSUANT TO SECTION 1. OR 1. 5(d) OF THE SECURITIES EXCHANGE ACT OF 1.
For the fiscal year ended December 3. OR . Employer. Identification Number)5. San Nicolas Drive, Suite 3. Newport Beach, California 9. Address of Principal Executive Offices) (Zip Code)Registrant’s telephone number, including area code: (9.
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Securities registered pursuant. Section 1. 2(b) of the Act: Title of Each Class Name of Each Exchange on Which Registered. Common Stock, $0. Series A Junior Participating Stock, $0. The Nasdaq Global Select Market. Securities registered pursuant to Section 1.
Act: None. Indicate by check mark if the registrant is a well- known seasoned issuer as defined in Rule 4. Securities Act. Large accelerated filer . Shares of Common Stock held by each officer and director and by each person who owns 1. Common Stock have been excluded in that. This determination of affiliate status is not necessarily a conclusive determination for any other purpose.
The number of shares of the registrant’s Common Stock outstanding as of March 1. Documents Incorporated by Reference. Part III of this Report incorporates by reference information from the definitive Proxy Statement for. Annual Meeting of Stockholders. THE TRIZETTO GROUP, INC. ANNUAL REPORT ON FORM 1. K For the Fiscal Year Ended December 3.
TABLE OF CONTENTSCAUTIONARY STATEMENT This report contains forward- looking statements that have been made pursuant to the provisions of the Private Securities Litigation Reform Act of 1. These statements relate to future events or our future. In some cases, you can identify forward- looking statements by terminology such as “may,”“will,”“should,”“forecasts,”“expects,”“plans,”“anticipates,”“believes,”“estimates,”“predicts,”“potential,” or “continue” or the negative of such terms and other comparable terminology. These statements are only predictions. Actual events or results may. In evaluating these statements, you should specifically consider various factors, including the risks outlined in Item 1. A under the caption “Risk Factors.” These factors may cause our actual events to differ.
We do not undertake to update any forward- looking statement. PART I OVERVIEW Tri. Zetto is distinctly focused on accelerating healthcare payers’ ability to lead the industry’s transformation by providing information. We offer a broad portfolio of proprietary information technology products and services targeted to the.
As a result, payers are the. New government regulations, shifting market trends and competition constantly pressure these payers to change their product offerings. To enable these changes, payers must continually upgrade their information technology systems. Many payers, especially the largest, have traditionally developed their own information systems in- house. But. increasingly in recent years, payers have utilized commercial systems to reduce information technology and business costs, and accelerate their time- to- market for new products and enhanced efficiency.
Tri. Zetto’s large footprint of payers and their members provides unique opportunities to develop and accelerate the adoption of new information. Including the company’s recent acquisitions, Tri.
Zetto technology touches approximately 1. U. S. We provide products and services to 3. In 2. 00. 6, these markets represented 9. The Tri. Zetto Group, Inc.
The. combination created a company dedicated to healthcare information technology products and services. Initially, we focused upon providing hosted software services addressed primarily to the provider market. From 1. 99. 8 to 2. In 2. 00. 3, we initiated a strategic plan to concentrate exclusively on the payer market and to wind- down our provider business.
We completed this plan in 2. We completed our initial public offering in October 1. Novalis Corporation, Finserv Health Care. Systems, Inc., Healthcare Media Enterprises, Inc., Erisco Managed Care Technologies, Inc. Of the 1. 0 acquisitions, the Erisco and RIMS. Care. Key acquisition completed in the fourth quarter of 2.
QCSI acquisition completed in the first quarter of 2. Erisco’s main product. Facets. With these acquisitions, Tri. Zetto obtained a customer base with more than 1.
U. S. The products developed by Care. Key are proven applications and solutions for the rapidly growing. FINANCIAL INFORMATION Please refer to Item 6, “Selected Financial Data,” and Item 7, “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” for a review of revenue, net. OUR STRATEGY Rising healthcare costs and health insurance premiums are causing employers, as well as federal and state government programs, to shift more of the cost of healthcare benefits to consumers in the form of higher.
Since 2. 00. 0, average premiums for family coverage in the United States increased 5. Typical family out- of- pocket healthcare costs now exceed 1. As a result of increased personal spending on healthcare, healthcare consumers (i. We believe that payers will play a. U. S. We also believe that most health plans and benefits administrators must evolve and improve their technology infrastructures, software applications, and business processes to.
We recognize that the evolution of the healthcare industry to a more retail- like environment may be gradual or in steps. Our strategy, therefore, is to protect our existing customers’ investment. IT capabilities, and transform their businesses to prosper in this more consumer- centric environment. Key elements of our strategy include: . In 2. 00. 6, we continued to articulate our vision of the future for health plans. In 2. 00. 3, we launched and named these “futures” concepts Health Plan 5.
Benefits Administrator 5. Over the course of 2. We are focused on offering a quantified, compelling value proposition that includes such advantages as enhancing.
Other benefits include reduced and more predictable information technology costs, more cost effective business. Our internal estimates, based on industry benchmarks and customer data, show that return on investment. As. some of the most information- intensive businesses in the U. S., payers spend about 1. Efficient and accurate enterprise administration systems are critical to success. In 2. 00. 3, we introduced.
Facets Extended Enterprise. In 2. 00. 6, new releases of these systems included new features, functionality and benefits for payers. These products. continue to be our flagship core 4 enterprise solutions. The acquisition of QCSI’s QNXT in January 2. Tri. Zetto’s enterprise administration solutions. Payers spend an average of 8.
As the economics of running a plan started to shift in 2. In early 2. 00. 4, Tri. Zetto partnered with Care. Key. Inc. In December 2. Tri. Zetto acquired Care.
Key. Today, the company is unique in offering integrated solutions that address both the unit cost of care as well as the volume. Tri. Zetto’s suite of cost and quality of care solutions are complementary to our enterprise software solutions and allow us to help payers address the vast majority of healthcare medical costs not focused solely on health plan. Tri. Zetto’s Networ. X Pricer. Our Care. Advance. Enterprise. By improving patient wellness, these solutions.
While these applications are architecturally engineered to most easily integrate with other Tri. Zetto products such as. Facets. In addition to offering. Tri. Zetto has created a number of high- value add- on systems that increase the performance of Tri.
Zetto systems and extend the value and return on investment for customers. Tri. Zetto’s. enterprise systems are very large applications that require significant work to install and optimize. Like many other enterprise software companies, Tri. Zetto offers complementary services that assist customers in achieving business success. For customers who desire to reduce their data center or overall processing costs, Tri. Zetto also offers software hosting services and.
These typically are sold as add- ons following the sale of Tri. Zetto software. Our solutions are aligned with the way our customers operate. Our individual products and services, and complete solutions address the main business cycles of a health plan, which are: product development, revenue management, reimbursement management, customer service, network management, care. Benefits administrators have largely similar business cycles. We leverage our current strategic relationships and enter into new relationships to expand our customer base and. We have established co- marketing and sales arrangements with third- party systems integrators and software vendors. As our customer base grows, we intend to expand and strengthen these relationships.
We continually evaluate acquisitions of companies that could expand our market share, product offerings or our. Since our initial public offering in 1. We may pursue additional acquisitions that we believe create shareholder value. OUR PRODUCTS AND SERVICES Tri. Zetto’s mission is.
We have historically been a leading core administration company, and through acquisitions have expanded our capabilities. We have targeted five strategic areas that will drive. In 2. 00. 6, we derived approximately 4. Out of our. total revenue in 2. Enterprise Core Administration Software Facets. At December 3. 1, 2. Facets. Many customers have purchased or are.
Facets. These upgrades are included in customers’ annual release fees. In addition, unspecified upgrades generate opportunities to sell consulting and other services to assist with the upgrades, as well as add- on modules that. Facets. In 2. 00. Tri. Zetto Professional Services. Upgrade Service exclusively focused on helping health plans upgrade Facets. Introduced in 1. 98.
Facts. At December 3. Facts. We believe that Qic. Link. Its flexible design is well suited for third party administrators, as well as organizations that self- fund or self- administer their health benefits.