Bend, Ore. September 4, 2009 – Clear Choice Health Plans, lnc. (OTCBB: CCHN)
announced that the company and Adaptis, Inc., its business process outsourcing (BPO) vendor, have mutually agreed to terminate their business relationship and that the Company has entered into a five-year contract for BPO services with The TrlZetto Group, Inc., an information technology and services company focused on the health care industry.
The agreement calls for TriZetto to provide claims administration, enrollment administration, billing, mailroom and business rules configuration (BRC) services. TriZetto will manage and host the underlying QNXTTM enterprise administration system and related software from its data centers. The transition is expected to be complete in the fourth quarter of 2009.
“This agreement will enable Clear Choice Health Plans to achieve improved customer service levels through increased accuracy, efficiencies, reduced overhead costs, and improved functions such as claims payment, enrollment, and insurance premium billing," stated Patricia Gibford, President and CEO of Clear Choice Health Plans. “Since our previous outsourced services were delivered on TriZetto’s enterprise administration platform, we anticipate being able to move our existing data and claims history over to Trizetto’s business process services center without customer disruption. This new agreement should deliver savings in operating expenses in both the short and long term.”
About Clear Choice Health Plans, Inc.
Clear Choice Health Plans, lnc. offers affordable health plans to meet the needs of employers, providers, and consumers. The company provides health insurance, including Medicare Advantage plans, commercial plans, individual plans, and administrative services to individuals and businesses throughout the West. The company also offers life, disability, dental, vision and voluntary benefits programs, as well as employee benefit services to self-funded employers, associations, Taft-Hartley Trusts, and Chamber of Commerce plans. Clear Choice is dedicated to the development of community-based employee benefits programs, health insurance, and ancillary plans. For information call 888-863-3637, visit www.clearchoicehp.com.
Safe Harbor statement under the Private Securities Litigation Reform Act of 1995
Certain statements contained in this press release are forward-looking in nature and involve a number of risks and uncertainties. Such forward-looking statements, including, but not limited to, obtaining cost savings as a result of the new Trizetto contract and achieving benefits from investments in infrastructure and administrative processes, are within the meaning of that term in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Act of 1934, as amended. The words "believe," "estimate," "expect," "intend," "anticipate," "plan," should” "appears," "will," and similar expressions and variations thereof identify certain of such forward-looking statements, which speak only as of the dates on which they were made. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those indicated in the forward-looking statements as a result of various factors. Readers are cautioned not to place undue reliance on these forward-looking statements and are advised to review and consider the” “Risk Factors” identified in the Company’s current Annual Report to Shareholders.
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