SOURCE: Quture International, Inc.
DAYTONA BEACH, FL--(Marketwire - Aug 8, 2012) - Quture International, Inc. (OTCQB: TCLN) (PINKSHEETS: TCLN) and its operations subsidiary Quture, Inc. ("Quture") announce that its QualOptima product demonstrations are on target with hospital IT leaders' demands and the urgent needs of senior management for healthcare analytics. Quture is in the final stages of return on investment (ROI) evaluations from three hospital reference sites as the Company moves to revenue-based operations and nears completion of the search for its Chief Business Development Officer. Even at its median price point, the market opportunity for QualOptima is in excess of 1.75 billion dollars annually in the United States alone, and exponentially higher with revenue models other than traditional licensing.
In a recent survey from Black Book Rankings released last week, clinical analytics and business intelligence tools are emerging as a top priority for hospital information (IT) leaders. The survey confirms the ROI value proposition of the QualOptima product, which has now been demonstrated to harness real-time medical data to influence fact-based diagnostic and therapeutic decisions at point of care, capture revenues and save costs. According to the survey, eighty-four percent of provider organizations without clinical analytics systems in place currently plan to acquire at least one new or additional clinical analytics tool within twelve months.
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 return on investment potential of the product is nearing 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, for the first time connecting 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.
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.
"Senior leaders within Quture from clinical, technological, and business perspectives have seen this movement on the horizon in the health care industry, based on over 35 years of measuring clinical performance, quality and patient safety," said Landon Feazell, CEO of Quture International. "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 and personal wellness. As delivery systems and payment systems are changing, 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.