SOURCE: Quture International, Inc.
DAYTONA BEACH, FL--(Marketwired - Oct 1, 2013) - Quture International, Inc. (OTCQB: QUTR) today announced the formation of the new subsidiary QualVal Solutions (QualVal). QualVal will provide consulting services bundled with Quture's QualOptima product for software as a service (SaaS). Potential hospital customers of QualOptima have requested Quture's Founder, Landon Feazell, provide consulting expertise in transforming traditional peer review processes to performance measurement to meet and exceed regulatory compliance requirements. Quture's initial customer focus is on hospitals and physician groups. Quture is also forming the consulting subsidiary to expand its customer base beyond providers to the total array of potential customers -- healthcare law firms, health and medical malpractice insurance companies, medical device and equipment manufacturers, electronic medical record (EMR) companies, accountable care organizations (ACO's), health maintenance organizations (HMO's), health information exchanges (HIE's), insurance exchanges, ambulatory surgery centers, employer group plans and health incentive companies, pharmaceutical, proteomics and nutraceutical companies, and large CPA and other consulting firms, and vendors of other technologies that strategically enhance Quture in the market. QualVal is anticipated to provide revenue positive, immediate impact on the Company's bottom line, repeating the previous millions of dollars generated by the Founder's consulting companies.
"Potential customers during initial sales efforts have asked Quture to provide our traditional consulting services to assist them in transitioning from peer review to performance and outcomes measurement," said Landon Feazell, Chairman & CEO of Quture. "We also have extraordinary business opportunities for the QualOptima Connectivity & Analytics System with potential businesses other than healthcare providers that are immediate and lucrative. As Quture introduces its new technology to health care, with the inherent measured pace of early adoption, these other customers provide excellent technology demonstration opportunities as well as immediate revenue. They further allow us to file for new patents as we stage the publication of the results of the Clinical Trial at the University of Miami and Jackson Memorial Hospital, working with Dr. Keith Candiotti."
One initial thrust of QualVal will be to support and enhance licensing the QualOptima Peer Review and Performance & Outcomes Measurement Application, required for hospitals to conduct Focused and Ongoing Professional Practice Evaluation (FPPE-OPPE). The unique capability of QualOptima to permit remote peer review of medical records by physician reviewers facilitates development of user peer panels or for hospitals and hospital systems to use Quture's QualPRO expert physician panels. Quture intends the bundled services of QualVal to initially include contracts with medical device manufacturers that will provide revenue while giving Quture real world experiences to test the proctoring application to complete delivering electronic technology solutions to all requirements of FPPE-OPPE.
Healthcare data and users of these data have been limited almost exclusively to billing data. QualOptima introduces patient-specific scientific risk factors and clinical performance and outcomes data electronically collected from disparate databases through its transformative and disruptive technology on the InterSystems technology platform. Customers of Quture need not only this technology but the expertise and experience of QualVal to strategically know what clinical data to measure, where that data resides, the scientific algorithms to analyze these data and, and most importantly why to measure (measure what you value, value what you measure) and what to do with the information to improve the quality of care and reduce costs, while significantly improving revenue to the bottom-line.
"Hospitals have tons of data, often the wrong data and limited key performance indicators and strategies," said Feazell. "Our customers need our expertise and experience, combined with our new software technology, to more rapidly and effectively meet compliance requirements and realize the power of electronically capturing the data and with analytics embedded in QualOptima. While much has been proposed and hundreds of millions of dollars have been spent on mining 'big data,' the immediate opportunities are to strategically mine data. Quture's expertise for 35 plus years in clinical performance and outcomes analytics is our immediate business advantage. "
Another immediate focus of QualVal will be to consult with healthcare law firms engaged by their clients in qui tam/whistleblower and fraud & abuse cases, as well as firms engaged to proactively prevent costly rack audits while optimizing revenue from efficient and effective billing and practice management software. The QualOptima product is ideal to electronically capture and integrate clinical data in parallel with billing data for litigation analytics. The unstructured data capture and analytics of QualOptima's technology completes the essential tools for litigators and healthcare attorneys for their clients.
QualVal intends to provide consulting services beyond these initial focuses to include optimal clinical processes with risk & fitness factors and performance and outcomes metrics, credentialing and proctoring physicians and clinical practitioners, complication (including hospital acquired conditions) and readmission reductions strategies, analysis of overuse, underuse and misuse, and external clinical auditing, metrics to accomplish strategic planning goals and objectives, and branding strategies to increase patient loyalty and satisfaction and wellness.
"I have been privileged to work with some of the most prominent and proven consultants in American health care, and we are now engaged in the process to recruit them to leadership roles in QualVal as principals," added Feazell. "We are also continuing to explore relationships with other healthcare consulting organizations for strategic alliances. Quture anticipates a series of announcements as core consulting experts contract with QualVal and Quture, as well as announcing specific bundled sales already in negotiations. Quture is making this announcement in anticipation of launching our new website, with the services and solutions portions of the site describing our capabilities and services and to attract customers as well as licensing QualOptima."
ABOUT QUTURE INTERNATIONAL, INC. (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 an 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.
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.