SOURCE: Quture International, Inc.
DAYTONA BEACH, FL--(Marketwire - Aug 27, 2012) - Quture International, Inc. (OTCQB: TCLN) (PINKSHEETS: TCLN) and its operations subsidiary Quture, Inc. ("Quture") announce that its QualOptima product is now under contract with the University of Miami Miller School of Medicine and Jackson Memorial Hospital for a clinical trial for performance and outcomes measurement. After completing the demonstration project with InterSystems at the University, the return on investment (ROI) evaluations announced on August 8, 2012, now further include analytics focused on patient-centered, personalized medicine use of the product for hospitals to brand themselves with the same data for their patients.
As announced in June's Shareholder Letter, this additional use of clinical data from QualOptima creates sales incentives to hospitals from data generated by the product in the $700 billion hospital marketing for "branding." QualOptima will be even more on target with the urgent needs of senior management for healthcare analytics.
Quture is in the final stages of ROI evaluations from three hospital reference sites. Use of QualOptima product data for personalized medicine creates yet another financial incentive and investment opportunity for hospitals to license the product. The internal ROI evaluation parallels the Company moving to revenue-based operations as the search for its Chief Business Development Officer is nearing completion. Even at its median price point, the market opportunity for QualOptima is in excess of 1.75 billion dollars annually from hospital sales alone in the United States, and exponentially higher with either revenue model other than traditional licensing or sales to other health care market sectors. Patient-centered, personalized medicine applications create major new market sector opportunities.
In publications by Heather Woodward-Hagg at Purdue University, College of Technology, she has stated their experience with their widely accepted return on investment (ROI) methodology to calculate the business case to promote efficient, patient-centric care within a healthcare organization. In answering the question -- what is preventing the development of the business case for quality in healthcare -- she states: "In our experience, the lack of appropriate performance indicators often makes it difficult to determine performance gaps, effectively drive performance improvements and accurately measure the impact of improvement initiatives."
"Quture is intensely focused on proving and projecting the business case for QualOptima through rigorous ROI methodologies and financial projection models," said Landon Feazell, CEO of Quture International. "We are committed to the use of QualOptima to provide performance measures and analytics tools as already demonstrated in three hospitals. Health care ROI studies and formulas, and now our own ROI calculations prove the clinical logic and business case for QualOptima. Since the product captures and integrates patient-centric risk factors and outcomes measures in addition to performance measures, there is yet another huge intrinsic value for personalized medicine applications of QualOptima data. We are encouraged by the ROI evaluations to date and looking forward to this new financial revenue insight."
Quture's product demonstrations at three key hospitals have been designed to triangulate the QualOptima analytics value proposition. As the operations company moves from development to marketing and sales, the analysis of the ROI potential of the product is at completion from all three sites. Each project provides unique elements for ROI, so that the insight from each converges to attract additional reference hospitals to license QualOptima.
The clinical trial at the University of Miami Miller School of Medicine and Jackson Memorial Hospital (UoM) focused on measuring clinical performance and outcomes. Dr. Keith Candiotti designed the project to demonstrate the value of the product design to ultimately calculate unreimbursed cost relationships with compliance to evidence-based perioperative protocols. The project measures the impact of performance of evidence-based protocols on outcomes and costs. There are significant costs associated with extended stays and complications in recovery and beyond for well-established practice guidelines from professional organizations, that for the first time connect clinical quality with outcomes and costs. Electronic data capture, aggregation into a second generation database, and imposition of quality and value analytics is essential for hospitals that urgently need to move to value-based purchasing and to comply with accreditation standards. Quture is now further exploring the QualOptima database for patient-centered, personalized medicine applications with Dr. Candiotti.
At Niagara Falls Memorial Medical Center (NFMCC), Quture implemented an evidence-based optimal clinical process for prevention of catheter-acquired urinary tract infections (CAUTI) in the intensive care unit. The ROI analysis announced for completion before September is focused on payment initiatives. The clinical demonstration was selected because it is one of the hospital-acquired conditions (HAC) for which providers are no longer reimbursed and is the major patient safety initiative for 2012. Performance measurement based on a nursing-sensitive protocol augments physician performance at the University of Miami for true interdisciplinary performance measurement.
Springhill Medical Center, Springhill, LA (SMC) is focused on replacing Quture's former peer review product with QualOptima. The ROI evaluation there is based on replacing labor-intensive manual processes with electronic data capture and analytics, while integrating their peer review and performance measurement processes. Successful implementation of a license to the InterSystems product platform for QualOptima is scheduled for completion in early September. The demonstration requires completion of the product as a cloud application. This will demonstrate the market for QualOptima to small and rural medical centers such as SMC. As an established customer of the former peer review product, it was urgent to supplement peer review process with performance measurement, both for compliance with accreditation standards and to prepare for the new fee-for-value payment system.
"The recent Black Book Rankings hospital survey cited in our last press release was extraordinarily significant, stating that 84% of provider organizations without clinical analytics systems in place currently plan to acquire at least one new or additional clinical analytic tools within 12 months," said Feazell. "We have committed over six years and millions of dollars and other resources to create QualOptima. The InterSystems platform powers our product as a breakthrough application of their unparalleled technology. Senior management teams find themselves in charge, but not in control in hospitals throughout America. The survey report indicts that only 16 percent of U.S. hospitals acknowledge they currently have the clinical decision support tools to effectively manage the data needs of the accountable care evolution. Hospital boards and senior management need to prepare their organization for clinical analytics not only in the new payment system, but also for the future of improving care as patients become more involved in their care. Adding personalized medicine and wellness to the business case for QualOptima is a rapidly evolving product strategy and marketing and sales advantage. As delivery systems and payment systems are changing and patient involvement in their care increases, QualOptima empowers data-driven decisions for results-driven success©."
ABOUT QUTURE INTERNATIONAL, INC. (www.quture.com)
Quture International, Inc. is an emerging growth company positioned to become the leading clinical knowledge company in the world. The core competence of Quture is clinical performance enhancement to achieve optimal patient outcomes. Quture's brand is centered on the value proposition of trust, transparency and independence. As the free enterprise solution to improving health and health care while reducing costs, Quture is comprised of a subsidiaries in North America and Europe for the operations of its software technology solutions, plans for a "beyond data" consulting and knowledge applications company, as well as plans for a personalized, proactive, and predictive medicine company with a virtual community of members. These subsidiaries will all be affiliated with the Qx Medical Exchange, which the Company intends to become the largest medical and health exchange in the world. Quture International is a Nevada corporation currently trading under the symbol TCLN.
This release contains forward-looking statements, including, without limitation, statements concerning our business and possible or assumed future results of operations. Our actual results could differ materially from those anticipated in the forward-looking statements for many reasons including: our ability to continue as a going concern, adverse economic changes affecting markets we serve; competition in our markets and industry segments; our timing and the profitability of entering new markets; greater than expected costs, customer acceptance of our products or difficulties related to our integration of the businesses we may acquire; and other risks and uncertainties as may be detailed from time to time in our public announcements and SEC filings. Although we believe the expectations reflected in the forward-looking statements are reasonable, they relate only to events as of the date on which the statements are made, and our future results, levels of activity, performance or achievements may not meet these expectations. We do not intend to update any of the forward-looking statements after the date of this document to conform these statements to actual results or to changes in our expectations, except as required by law. There is no assurance that a definitive agreement will be completed.