GREENWOOD VILLAGE, Colo.--(BUSINESS WIRE)-- The TriZetto Group, Inc. today announced that it has acquired all of the voting stock of privately held Tela Sourcing, Inc., a Baltimore-based business process outsourcing (BPO) services company that offers combined U.S. and India-based outsourcing capabilities to the healthcare industry. TriZetto is expanding its BPO capabilities to help its 350 payer customers more easily meet the cost challenges and new customer opportunities created by healthcare insurance reform. The combination of Tela’s U.S. and Indian operations with TriZetto’s current BPO capabilities in Baltimore is expected to add scale, scope and efficiency to the company’s BPO capabilities.
“The significant impact of healthcare reform on payers and others in the healthcare supply chain means an increasing need for outsourcing solutions,” noted Mike Jenner, TriZetto’s executive vice president who leads the company’s services. “Tela represents a significant expansion of both the range of BPO services we can offer, as well as increasing our capacity and flexibility to blend on-shore and off-shore capabilities to fit customer needs.”
“Interest by health insurers in business process outsourcing (BPO) services blossomed in 2009 under the shadow of an economic downturn, demands for increased regulation and a renewed focus on healthcare reform,” noted Gartner Analyst Maureen O’Neil in a January 2010 report titled BPO Gives Health Insurers the Opportunity to Shine Competitively. "To remain competitive in such a challenging environment, health insurers need new business and IT approaches that provide competitive differentiation, superior financial performance and regulatory compliance. Against this backdrop, BPO is becoming a key strategic option among many U.S. health insurers.”
Added Brij Sharma, Tela Sourcing’s CEO who will lead TriZetto’s combined BPO operations, “In today’s environment, outsourcing is a strategic choice made by payers to help contain premiums, improve customer service and increase administrative efficiency. We have worked with several TriZetto clients. The combined TriZetto BPO team will now have more than 700 professionals in the U.S. and India, dedicated to delivering business rules configuration, front-end claims administration, enrollment and billing solutions that meet the business and operational needs of health plans and TPAs. Together, we will have a world-class, industrial-grade end-to-end BPO capability that can provide the flexibility, capacity and cost efficiency to meet a wide range of customer needs.”
Founded in 1997, TriZetto is the leading privately held healthcare information technology company to the healthcare payer industry, with its technology touching half of the U.S. insured population. TriZetto’s vision for the industry, Integrated Healthcare Management, is the optimized coordination of benefits and care for healthcare consumers to improve the value of every healthcare dollar spent. The company's offerings include enterprise and component software, hosting, outsourcing services and consulting that help payers implement and optimize their operations and minimize the risk of bringing to market new products that drive competitive differentiation.
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INDUSTRY KEYWORDS: Technology Data Management Software Practice Management Health Hospitals Professional Services Insurance General Health Managed Care