Quture Announces Progress toward Transition to Revenue-Based Company by Sale of QualOptima Combined New Health Analytics Product in Joint Sales of Licenses
DAYTONA BEACH, FL (ACCESSWIRE) 8/12/2013 - Quture International, Inc. (OTCQB: QUTR) today announced sales to three hospital customers of its QualOptima product. The Peer Review & Performance and Outcomes Application of QualOptima provides enhanced capabilities of hospitals to comply with the Focused Professional Practice Evaluation (FPPE) requirements of the Joint Commission for accreditation. Joint sales with New Health Analytics (NHA), Richmond, VA further enhances the capabilities of these customers to comply with Ongoing Professional Practice Evaluation (OPPE). These products operating in tandem introduce use of analytics of administrative billing data with clinical data using the data capture and analytics tools of QualOptima on the InterSystems Corporation, Cambridge, MA platform. The strength of the metrics of the two companies will permit new integration of clinical quality of care and patient safety with financially oriented metrics to improve performance and outcomes while optimizing revenue and potential financial losses through risk management.
The sales will be further announced upon software installation and implementation. Sales are to independent hospitals, some in networks. Future sales will focus on additional independent hospitals and hospitals in systems where the Founder of Quture has extensive peer review and performance measurement expertise and experience. The QualOptima Application is sold at an average price of fifty-nine thousand dollars ($59,000), annually and available on a subscription basis, while both the Quture and NHA products are licensed based primarily on the size of the facility measured by beds. Both companies are exploring other revenue models with additional potential customers, such as pricing based on annual patient discharges. NHA offers additional products which can be further integrated into the FPPE-OPPE processes, as well as additional functionality from other QualOptima applications, not currently included in these sales.
"Collaboration with New Health Analytics in the Joint Sales and Marketing Agreement previously announced advances our product offerings and sales opportunities," said G. Landon Feazell, Chairman & CEO of Quture. "We believe the clinical performance and outcomes methods, technology, and metrics of Quture integrated with NHA methods and technology provides exponentially advanced the joint product for these and other customers. Our ongoing experience at Springhill gives us confidence in our joint capabilities and potential future marketing and sales."
ABOUT QUTURE INTERNATIONAL, INC. (http://www.quture.com/)
Quture International, Inc. (QUTR) is the proven and experienced clinical performance and outcomes analytics company in the United States. The vision of Quture is to connect all constituents in the global health and health care community to clinically and financially focused and sound data transformed through analytics to knowledge that empowers data-driven decisions for results-driven success. As a "Breakthrough" Application Partner of InterSystems Corporation, Quture's technology for capturing, integrating and aggregating data on the InterSystems Enterprise platform is unequalled. The Company's unique product QualOptima develops a second generation CLINICAL database implementing Quture's core competence of clinical content with evidence-based metrics developed for more than 35 years. QualOptima empowers 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 healthcare while reducing costs, Quture is positioned to become the leading clinical knowledge company in the world. Quture International is a Nevada corporation trading under the symbol QUTR.
ABOUT NEW HEALH ANALTICS (http://www.newhealthanalytics.com/)
Based in Richmond, VA, New Health Analytics offers hospitals, ambulatory surgery centers, integrated delivery systems, health plans and physician organizations a complete health information system for clinical integration. We help you with your day-to-day needs for data analysis to succeed with managed care companies, accountable care organizations and pay-for-performance systems. We do this by enabling the way you share of clinical information; coordinate treatment between primary care physicians and specialists; apply medical treatment guidelines; and monitor the adherence of practitioners compared to others. With our expertise in analytics and economics, we offer a new healthcare information system that combines a data warehouse with an analytical workstation that can be implemented in weeks, not months. NHA currently offers three (3) basic product solutions. The first solution, known as CiManager(R), helps hospitals and hospital networks, assess, identify and demonstrate improved quality and outcomes, monitor measures of performance and patient safety and uncover key areas for financial and operational efficiencies. The second, known as PCA Plus, provides hospitals and hospital networks with healthcare planning, strategic management, and market research for benchmarking current operations, forecasting and improving productivity and profitability by detailed service lines. Over the years, we have augmented the internal capacity of hospitals, physician organizations, health plans, life science organization, medical device companies, associations and foundations with the analytic power available from the huge statewide patient-level databases we routinely maintain. The third, known as SOIX(R) is for ambulatory surgery centers to benchmark, procedure by procedure, their clinical outcomes and patient satisfaction for accreditation, risk management and improved patient outcomes.
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.
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SOURCE: Quture International, Inc.
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