DENVER, Sept. 24 /PRNewswire-FirstCall/ -- TeleTech Holdings, Inc.
(Nasdaq: TTEC), a global provider of customer solutions, today announced a
multi-year extension of its relationship with Blue Shield of California (BSC).
Under terms of the agreement, TeleTech will continue to handle all of
BSC's provider eligibility and benefits calls, and will expand management of
BSC's provider claims status calls to 100 percent. Additionally, the
partnership has been expanded to include piloting TeleTech's support of
Interplan Teleprocessing Services (ITS), in which California-based providers
inquire about the claims status for out-of-state Blue Shield members.
TeleTech's increased role in performing customer support for BSC's lines of
health insurance will further solidify its reputation in the healthcare
industry.
"Blue Shield of California's mission is to ensure that Californians have
access to high-quality health care at a reasonable price," said Rob Geyer,
Blue Shield of California's Vice President of Customer Service. "TeleTech has
consistently outperformed our expectations on quality and productivity, and
the cost savings for BSC have been significant."
"TeleTech's results-oriented approach, combined with our innovative
technology solutions, were key factors that BSC evaluated when deciding to
expand our relationship," said Kenneth Tuchman, TeleTech's Chairman and Chief
Executive Officer. "For this initiative, BSC and TeleTech have designed and
launched a virtual multi-site solution utilizing Voice over Internet Protocol
(VoIP) service delivery from a centralized environment. TeleTech's technology
platform enables BSC to reduce capital outlay and focus on servicing their
plan members."
ABOUT BLUE SHIELD OF CALIFORNIA
Founded in 1939, Blue Shield of California is one of the state's leading
healthcare companies. Headquartered in San Francisco, the not-for-profit
corporation has 2.7 million members, 4,200 employees and more than 20 office
locations throughout California. For more information on Blue Shield, visit
the company's Web site at www.mylifepath.com .
ABOUT TELETECH
TeleTech partners with clients to develop and execute relevant solutions
that enable them to build and grow profitable relationships with their
customers. TeleTech has built a global capability supported by 52 customer
interaction environments that employ more than 27,000 professionals spanning
North America, Latin America, Asia-Pacific and Europe. For additional
information, please visit www.teletech.com .
FORWARD LOOKING STATEMENTS
All statements not based on historical fact are forward-looking statements
that involve substantial risks and uncertainties. In accordance with the
Private Securities Litigation Reform Act of 1995, following are important
factors that could cause TeleTech's and its subsidiaries' actual results to
differ materially from those expressed or implied by such forward-looking
statements, including: economic or political changes affecting the countries
in which the company operates; greater than anticipated competition in the
customer care market, causing increased price competition or loss of clients;
the reliance on a few major clients; the risks associated with losing one or
more significant client relationships; the renewal of client or vendor
relationships on favorable terms; the risks associated with client
concentration; the ability to transition work from higher cost centers to
lower cost markets; the company's ability to develop and successfully manage
new technology or Database Marketing and Consulting sales; the company's
ability to collect monies owed from clients per contract terms and conditions
in a timely manner; higher than anticipated start-up costs associated with new
business opportunities and ventures; the company's ability to find cost
effective locations, obtain favorable lease terms and build or retrofit
facilities in a timely and economic manner; lower than anticipated customer
management center capacity utilization; consumers' concerns or adverse
publicity regarding the products of the company's clients; the company's
ability to close new business in 2003 and fill excess capacity; execution
risks associated with achieving the targeted $40 million in annualized cost
savings; the possibility of additional asset impairments and restructuring
charges; the ability to successfully execute an intercreditor agreement
related to the company's recently amended debt agreements; the ultimate
liability associated with the amount of past sales or use tax obligations for
its Database Marketing and Consulting and North American Outsourcing segments;
changes in workers' compensation and general liability premiums; increases in
healthcare costs; risks associated with changes in foreign currency exchange
rates; changes in accounting policies and practices pronounced by standard
setting bodies; and, new legislation or government regulation that impacts the
customer care industry. Readers should review the company's Form 10-K for the
year ended December 31, 2002, Forms 10-Q for the first and second quarters of
2003 and other documents filed with the Securities and Exchange Commission,
which describe in greater detail these and other important factors that may
impact the company's business, results of operations, financial condition and
cash flows. The company assumes no obligation to update its forward-looking
statements to reflect actual results or changes in factors affecting such
forward-looking statements.
SOURCE TeleTech Holdings, Inc.
