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Med advantage Acquires trizetto’s NCVO credentialing arm
ORLANDO, FLORIDA. April 20, 2006 — Med Advantage, a leading provider
of data and credentialing services, today announced it has acquired the NCVO® Credentialing Verification
Organization of The TriZetto Group, Inc. (Nasdaq: TZIX). This is the fourth (4th) acquisition
that Med Advantage has completed in the past several years.
As a leading provider of data quality solutions, Med Advantage has been expanding
its market-leading solution for credentialing services to include capabilities for
data profiling, standardization, cleansing, matching and monitoring—into its powerful
data warehouse and credentialing suite of services.
Med Advantage is acquiring all the assets of NCVO held by
TriZetto in an undisclosed cash transaction. Med
Advantage expects the acquisition, which closed on April 1, to be seamless for all
NCVO clients, and anticipates completing the transition of customers by the end
of the second quarter.
The move supports
TriZetto’s core strategy, which is to provide technology solutions that help payers
thrive in the emerging consumer-retail market, including enhancing revenue growth,
driving administrative efficiency, and improving the cost and quality of care.
“Though TriZetto’s
NCVO has earned an excellent reputation with customers and shown consistent revenue
growth, its sale will help us to better focus our sales and management teams on
targeted market opportunities” said Patricia Gorman, executive vice president of
Business Solutions for TriZetto. “We’re
confident that Med Advantage has the technical and industry expertise to serve our
customers well”.
“Turnaround and Cost are ranked by our customers as their
top challenges within their provider credentialing departments”, said John B. Witty,
President of Med Advantage. “Combining the innovative services that NCVO has implemented
with our automated services for application processing, primary source verifications
and data quality; we will offer improved turn around and data quality management
to all customers as an integral part of the Med Advantage credentialing platform.”
Next-Generation
Credentialing Management
Recognized for its unparalleled ease of use, Med Advantage
has been simplifying the process of credentialing. “Over the next two quarters Med
Advantage will unveil several new transactional improvements and services including
data cleansing” said John C. Barrett, Sr. Vice President. “In addition, Med Advantage
delivers credentialing that helps organizations to continuously measure and improve
their provider networks”.
About Med
Advantage
Med Advantage (Orlando Florida) is a leading provider
of Credentialing and Data integration services. Working with Med Advantage, companies
improve and reduce the cost of credentialing by integrating the automated services.
More than 450 companies nationwide, including companies in the Commonwealth of Puerto
Rico rely on Med Advantage to reduce their cost and expedite the time of credentialing.
For more information, call 407.282.5131, or visit
www.Med-Advantage.com.
About TriZetto
Touching more than 35%
of the U.S. insured population, TriZetto is distinctly focused on accelerating the
ability of healthcare payers to lead the industry’s transformation.
The company provides premier information technology solutions that enhance
its customers’ revenue growth, drive their administrative efficiency, and improve
the cost and quality of care for their members.
Healthcare payers include national and regional health insurance plans, and
benefits administrators that provide transaction services to self-insured employer
groups. The company’s broad array of
payer-focused information technology offerings include enterprise and component
software, hosting and business process outsourcing services, and consulting. Headquartered in Newport Beach, California,
TriZetto can be reached at 949-719-2200 or at
www.trizetto.com.
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