DAYTONA BEACH, FL – Quture International, Inc. (OTCQB: QUTR) (Q) today announced receipt of the first tranche of funding for final development of the Proctoring Application of its QualOptima product. Projected for release in the summer of 2014, the Proctoring Application will again propel and differentiate Quture in first mover position to transition from peer review to clinical performance and outcomes measurement in the healthcare analytics market. Proctoring is required to determine current clinical performance for all physicians and clinical practitioners using performance analytics by the Joint Commission for hospital compliance with its accreditation standards. This is the third requirement of Focused and Ongoing Professional Practice Evaluation (FPPE-OPPE). When Q introduces this next application to electronically capture clinical performance and outcomes data, its software will be even further differentiated in this mandated market.
The QualOptima Connectivity & Analytics System is the complete solution for transformative and disruptive technology to enhance clinical performance and achieve optimal patient outcomes. Use of proceeds from this new funding will be to expand the program with clinical metrics for educational and performance measurement for new medical procedures, diagnostic and treatment modalities, and new medical devices and omics. The proceeds further provide additional funding for patent protection of the intellectual property embedded in the Proctoring Application.
The return on investment (ROI) calculations for QualOptima justify potential sales to 5,723 "registered" hospitals in the United States alone at a median price point for a total market potential of an additional $572,300,000 per year. The market potential can be achieved with the Proctoring Application as a free-standing product or bundled with the Performance/Peer Review Application for supplemental price point and revenue from the combined product to achieve complete electronic data capture and analytics for FPPE-OPPE compliance. These dramatic ROI potentials are possible because the application simply expands on QualOptima software code and clinical content, as well as expanded application of the existing strategic technology platform licensed as an Application Partner of InterSystems.
These ROI calculations do not include anticipated additional income from medical device and pharmaceutical manufacturers for development of educational purposes and precise clinical metrics and from consultation revenue for Q's QualPRO panels of physician and practitioner experts and ultimately data sales. Q intends to announce these strategies and milestones in subsequent announcements but which have been underway for over two years.
"Funding the Proctoring Application is exciting for Q," said Landon Feazell, Chairman & CEO of Quture, "because it continues to fund development and sustains operations as Q begins to install the existing Performance/Peer Review Application and become revenue-based. We have been interviewing and in negotiations for the talent and skill sets we need for additional marketing and sales, installation, training and support of QualOptima. It also allows us to continue and complete patent applications for the total product array prior to installing these applications. This funding is anticipated to lead to revenue and even additional funding for continued growth of the QualOptima product to achieve its total strategic vision and planned subsidiaries. And completion of compliance for all requirements of FPPE-OPPE significantly differentiates the product and the consulting opportunities for QualVal Solutions. We will now be even more capable of re-introducing our transformative software to the hundreds of hospitals that have previously engaged Q's predecessor companies."
Feazell added: "Q looks forward to announcing not only our strategies but revenue from related development of clinical performance metrics. The Proctoring Application provides immediate access to medical device, pharmaceutical and omics companies, which significantly augments our customers for marketing and sales not only for the product and its clinical analytics metrics but for data sales in the future. Data sales are widely believed to produce as much as 12 times the revenue from licenses."
About Quture International, Inc. www.quture.com
Quture International (OTCQB: QUTR) ("Q") is the proven and experienced clinical performance and outcome analytics and solutions company in American healthcare. Q's first-to-market clinical intelligence software is the complete solution for healthcare providers, payers, employers, and insurance companies seeking to achieve optimal clinical, financial and operational outcomes. Q's QualOptima Connectivity & Analytics System empowers value-driven, patient-centered, personalized care focused on real-time and predictive patient management and patient safety, with optimal quality demonstrated by outcomes correlated with resource use, revenue and cost. As an Application Partner of InterSystems Corporation, Q's software operates on their HealthShare strategic technology platform to capture, integrate, aggregate, and analyze data transformed to knowledge in Q's innovative second-generation database. InterSystems (www.intersystems.com) has customers in over 100 countries with 80% of top hospitals in America currently utilizing its technology. Q's core competence and value proposition lies in its embedded evidence-based metrics, clinical content and analytic algorithms developed from over 35 years of measuring performance in hundreds of hospitals, physician organizations and HMO's.
As the free enterprise solution to improving health and healthcare while reducing costs, Q is positioned through its disruptive technology to become the foremost global provider of value-based clinical intelligence and knowledge solutions. Q is a Nevada corporation based in Daytona Beach, Florida, and trades on the OTC exchange under the symbol 'QUTR.'
Forward Looking Statements: 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.
SOURCE: Quture International, Inc.