GREENWOOD VILLAGE, Colo.--(BUSINESS WIRE)-- The TriZetto Group, Inc. today announced it has completed its acquisition of privately held Tela Sourcing, Inc., a Baltimore-based business process outsourcing (BPO) services company that provides U.S. and India-based outsourcing capabilities to the healthcare industry. Now serving more than 65 health plans and third-party administrators (TPAs), TriZetto BPO has expanded to include end-to-end outsourcing services on TriZetto and non-TriZetto applications to help customers reduce costs, improve efficiency and normalize long-term operations.
“This acquisition increases TriZetto’s scale and scope to help payers meet the cost challenges brought by healthcare reform,” said Mike Jenner, executive vice president of TriZetto Advantage Services™. “The combination of our onshore, offshore and blended-shore models can typically reduce costs by more than 40 percent in key administrative functions and by more than 20 percent in total administrative expenses for payer organizations.”
Jenner added that BPO is more than a cost-saving proposition; accelerated time-to-market and improvements in quality and process are common advantages of BPO. TriZetto’s BPO claims services customers, who benefit from highly educated, college-degreed staff with an average of five years of healthcare industry experience, typically enjoy a procedural accuracy of 99.4 percent and financial accuracy of 99.6 percent in their claims operations.
Survey responses from chief information officers and IT professionals in Gartner’s December 20, 2010, report titled, Strategic Technology Map for U.S. Health Insurers, gave BPO a top score for applications and technologies that provide the greatest insurer productivity.
“BPO eliminates the need for health insurers to tap their own internal resources to perform specific business processes and focus on differentiating capabilities,” wrote Gartner analysts Joanne Galimi and Robert Booz.
“Our combined capabilities give payers and TPAs the flexibility and speed to market what they need to react to new healthcare demands, while providing industry-experienced resources to improve operations and free internal resources to focus on differentiating solutions,” said Brij Sharma, who served as Tela Sourcing’s CEO and now is senior vice president of TriZetto BPO.
With this expansion, TriZetto’s BPO operations now include operation centers in Baltimore; Frederick, Md.; Naperville, Ill.; and an offshore services center in Pune, India -- with more than 600 employees -- which provides expanded capabilities and additional resources for end-to-end and on-demand sourcing models.
TriZetto provides world-class healthcare IT software and service solutions that drive administrative efficiency, improve the cost and quality of care, and increase payer and provider collaboration and connectivity. TriZetto’s solutions touch half of the U.S. insured population and reach more than 21,000 physician practices representing more than 75,000 practitioners. The company’s payer offerings include enterprise and component software, application hosting and management, business process outsourcing services and consulting that help transform and optimize operations. TriZetto’s provider offerings through Gateway EDI, a wholly owned subsidiary, include advanced tools and proactive services to monitor, catch and fix claims issues before they can impact a practice. TriZetto’s integrated payer-provider platform will enable the deployment of promising new models of post-reform healthcare. TriZetto is committed to the integration and convergence of technology systems to enable its vision of Integrated Healthcare Management, the coordination of benefits and healthcare to drive more value from every healthcare dollar spent. For more information, visit www.trizetto.com.
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INDUSTRY KEYWORDS: Technology Software Health Professional Services Insurance Other Professional Services General Health Managed Care