FOR IMMEDIATE RELEASE
TriZetto Joins Center for Health Value Innovation, Signals Role of Healthcare Information Technology in Accelerating Adoption of Value-Based Solutions
ST. LOUIS, Mo./NEWPORT BEACH, Calif. – March 01, 2010 – The Center for Health Value Innovation (www.vbhealth.org), the nation’s premier information exchange for value-based design, today announced that The TriZetto Group, Inc. (www.trizetto.com) has joined its growing membership of healthcare industry innovators. This collaboration is expected to accelerate the development of new value-based strategies, which many industry analysts and leaders believe are vital to healthcare reform.
“TriZetto will share its knowledge to demonstrate how technology can be used to promote the adoption of value-based designs, and our value-based solutions will incorporate the ideas and principles of the Center,” said Jeff Rideout, M.D., chief medical officer and senior vice president of cost and quality at TriZetto. “As a leader in healthcare payer technology, TriZetto recognizes the potential of value-based designs for healthcare reform and will assist the Center in evaluating value-based strategies, developing critical analytics and leveraging technology to refine programs and measure outcomes.”
The introduction of “levers” of value-based design incentives is now recognized as one of the most effective approaches to encourage individuals to adopt healthier lifestyles and effectively manage chronic conditions by adhering to recognized healthcare guidelines. In its recently released book, Leveraging Health (2009), authors from the Center articulate the role of value-based solutions to enhance workplace health and productivity and promote financial sustainability for organizations.
Gail Knopf, vice president of enterprise strategy at TriZetto, added, “This collaboration presents both TriZetto and the Center with significant opportunities to leverage the latest innovations and best practices to help unlock the potential of value-based designs. Together, we plan to develop value-based strategies that improve member health, successfully address healthcare economic inflation and drive Integrated Healthcare Management (IHM) and its subset, Systematic Health Management (SHM).”
TriZetto’s industry vision, IHM is the systematic application of processes, shared information and aligned incentives to optimize the coordination of benefits and care for the healthcare consumer. TriZetto’s IHM vision encompasses three areas for payers: administrative costs, supply-driven costs and demand-driven costs. TriZetto has become well recognized for its administrative solutions that increase efficiency for payers and their employer customers and members. TriZetto’s new SHM process focuses on the supply and demand drivers to address clinical cost and quality challenges that primarily manifest themselves in unwarranted variations in care, which create significant waste.
Cyndy Nayer, president and CEO of the Center, said, “With the recent introduction of its Value-Based Benefits Solution, TriZetto demonstrates a serious commitment to developing technology to administer value-based benefits on an individual level and integrate the process in real-time with claims processing. We are grateful to TriZetto for sharing its talent, expertise and technical experience, and look forward to working closely with its leadership.”
About The Center for Health Value Innovation
Information Exchange for Value-Based Design
The Center for Health Value Innovation has grown into the nation’s premier organization dedicated to sharing the evidence of improved health and economic outcomes through value-based designs for sustainable health and financial improvement.
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 is Powering Integrated Healthcare Management®, the systematic application of processes and shared information to optimize the coordination of benefits and care for the healthcare consumer. 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.