VSTI.. $0.06 Complete DD Package..
Quote: Home Page:
Companys now qualified with DD posted on the VMC Motherboard UNDER $0.25 for discussion on 07/11/2012 are listed below..listed below..
Add your favorite.. Read rules for posting on any company on the intro page..
GLMB $0.21,, CDOC $0.095,, JNSH $0.0205,,
LVWD,, $0.25,, RCHN,, $0.19,, ETCIA,,$0.25,,
BBRD,, $0.025,, PAOS $0.20,, GLGI $0.16,, ICPW $0.24,,
BNLB $0.078,, VSTI $0.06,,
About Versus Technology, Inc.
Established in 1988, Versus Technology, Inc. specializes in real-time location systems (RTLS) for healthcare. Used for enterprise patient tracking, bed management, asset tracking, and nurse call automation, Versus Advantages™ improves patient flow and documentation of caregiver and patient interactions, while enhancing communication and efficiency. Exclusively endorsed by the American Hospital Association, the Versus Advantages infrared (IR) and Active RFID solution is responsible for clinical-grade location and automation at a number of hospitals, clinics and long-term care facilities worldwide. To learn more about Versus Technology, Inc. (Pink Sheets: VSTI.PK), our technology and client successes, visit versustech.com and take the Advantages Tour.
Shares Outstanding: 102,569,900
Yahoo Board.. http://finance.yahoo.com/q?s=vsti&ql=1
I-Hub Board.. http://investorshub.advfn.com/Versus-Technology-Inc-VSTI-13952/
======================================= Press Releases.. Pacific Medical Centers Expands Versus Advantages RTLS to Totem Lake Clinic..
TRAVERSE CITY, Mich., June 20, 2012 /PRNewswire/ -- Following the success Pacific Medical Centers (PacMed) has experienced with the Versus Advantages™ Real-time Locating Solution (RTLS) at its Canyon Park clinic, they have installed Versus Advantages in the newly remodeled PacMed clinic at Totem Lake in Kirkland, WA. The automation that Versus Technology, Inc. (VSTI) brings to the Totem Lake clinic allows patients to quickly move to an exam room and spend much less time in a waiting room. With Versus, the same number of patients can be accommodated in a space that is significantly smaller.
The PacMed Totem Lake clinic offers primary care services to approximately 110 patients per day in their 17 primary exam rooms and three eye exam rooms. All staff, including those in the registration/business offices and pharmacy wear Versus badges and, upon registration, each patient is assigned a Versus badge, which is worn on the patient's wrist. Some equipment is also tagged, making it easy for staff to quickly locate needed assets.
PacMed anticipated that implementing the Versus Advantages software would improve visibility and patient flow as proven at Canyon Park clinic. Eight weeks post-implementation, expectations have been confirmed. According to Jane Reubish, Clinic Supervisor, "We spend slightly more time on the front-end registering patients, but we've reduced the time it takes to find patients and we no longer require medical assistants (MAs) to escort patients from the waiting room to their exam rooms. We're collecting data and we can see where everyone is, even if they're behind closed doors."
Clinics rely on MAs to facilitate patient flow. The Versus Advantages RTLS is an important tool for staff, indicating not only when a patient is ready to be seen by the provider, but also how long each stage of the treatment process takes. Some of the key patient milestone indicators that Totem Lake staff see in real-time include each patient's Overall Length of Stay (OLOS) and the patient's wait time from the start of each new care interval. While Totem Lake is still in the process of collecting baseline data, Reubish shares, "The Versus system has made us more aware of flow in the clinic and any bottlenecks. As we get more data, we can see what areas we may need to address."
As for patients, Reubish says, "They are interested in the system, and many of them have seen it at Canyon Park. We are committed to helping our patients live their best lives and giving them a more streamlined visit to the doctor saves them time."
Staff at Totem Lake Clinic adapted to the system quickly. "We received excellent training on all the software and tools Versus offers to make our lives easier," Reubish explains. "We've never had the ability to simply look at glance-and-go screens to determine if exam rooms are occupied or by whom. Staff like being able to find one another and patients with ease, and our providers are notified when the patient is ready to be seen. We're very satisfied with the system and services. Versus made the implementation process very smooth for us and our patients."
The Versus Advantages RTLS utilizes Infrared (IR) and Radio Frequency Identification (RFID) to determine room-level location and drive rules-based clinical workflow automation. The system grants situational awareness to staff, allowing them to view patient progression and room status in real-time on floor plans that represent the exact layout of the facility as well as on list views that show additional details related to the patient's visit. For example, list views may display the patient's caregiver, reason for visit and indicate who has been with the patient, who is currently with the patient and who needs to see the patient next. All data is captured within the context of the patient's visit and is available for reporting through Versus' advanced Reports Plus™ Analytics application, which provides a variety of milestone-based reports to help improve patient flow and resource utilization throughout the environment. To learn more, visit versustech.com.
About Pacific Medical Centers
Pacific Medical Centers is a private not-for-profit, multi-specialty health-care network of 10 locations with 140 primary and specialty care providers. Its 10 locations are in Puget Sound neighborhoods in Beacon Hill, Bothell, downtown Seattle, Northgate, Federal Way, First Hill, Lynnwood, Northgate, Renton and Totem Lake. Pacific Medical Centers serves patients with commercial insurance, retired military and their families, family members of active-duty personnel, as well as the underserved in our community.
======================================= Versus Technology Announces Second Quarter Results
TRAVERSE CITY, MI--(Marketwire -05/29/12)- Versus Technology, Inc. (VSTI.PK) ("Versus" or the "Company") today announces significant year-to-date growth and its third consecutive profitable quarter.
Revenues for the quarter ended April 30, 2012, increased 89.2% from the same quarter of the prior year, totaling $2,480,000 compared to revenues of $1,311,000 in 2011. Revenues for the six months ended April 30, 2012, increased 87.4% to $4,618,000, compared to $2,464,000 for the six months ended April 30, 2011.
Versus also made significant gains in net income, reporting $198,000 for the second quarter of fiscal 2012 compared to a net loss of $405,000 for the same quarter of the prior year. For the six months ended April 30, 2012, the Company reported net income of $300,000, compared to a net loss of $967,000 for the six months ended April 30, 2011.
Gross profits as a percentage of revenues were 68.3% for the current year's second quarter compared to 70.8% for the same quarter of the prior year. Fiscal 2012 year-to-date gross profit as a percentage of revenues is 68.8% compared to 69.0% year-to-date in fiscal 2011.
As Versus continues to invest in its sales, marketing and technology growth strategies, operating expenses other than cost of revenues for the second quarter totaled $1,498,000 representing an increase of $163,000, or 12.2%, over the prior year total of $1,335,000. Operating expenses other than cost of revenues for the six months ended April 30, 2012, totaled $2,882,000, an increase of $259,000. This represents a 9.9% increase in operating expenses over the same period last year compared to an 87.4% increase in revenues. Versus' quarterly results can vary significantly depending on the timing and delivery of major customer projects. Accordingly, results reported in any one quarter are not necessarily indicative of what full year results will be.
======================================= Versus Advantages™ RTLS Live at The Johns Hopkins Hospital's New Sheikh Zayed Tower and The Charlotte R. Bloomberg Children's Center..
TRAVERSE CITY, Mich., May 2, 2012 /PRNewswire/ -- Versus Technology, Inc. is pleased to announce that its Versus Advantages™ Real-time Locating System (RTLS) is live and in production at The Johns Hopkins Hospital's New Sheikh Zayed Tower and at The Charlotte R. Bloomberg Children's Center, which opened yesterday. The Versus RTLS supports Asset Tracking and Fleet Management, nurse call automation, and the first real-time food cart tracking application. The Versus Advantages solution is in place to provide greater awareness of equipment and staff resource locations, their availability and utilization.
Versus' dual Infrared and RFID real-time locating platform provides the bed-level accuracy required for use with life safety systems and for operational analysis of clinical workflow data. Between the two towers, the RTLS implementation includes over 3,100 sensors covering all areas of the 12-story, 1.6 million square foot addition. Versus provided 133 list views optimized for users based on their interests in asset locations or clinical activities and 53 custom-built floor plans representing the facility layout and providing accurate location of staff and equipment. At go-live, the deployment at The Johns Hopkins Hospital included Clearview badges for 3,500 The Johns Hopkins Hospital staff members and over 5,500 tagged assets.
The Versus Advantages solution at the Sheikh Zayed Tower and The Charlotte R. Bloomberg Children's Center are based on previous RTLS pilots conducted in the Johns Hopkins' Weinberg OR and in the Nelson building. Some functionality demonstrated during the pilots carries over to the larger implementation in the new facilities. For example, throughout the Bloomberg Children's Center and the Sheikh Zayed Tower, the Versus Advantages solution is integrated to the GE Telligence nurse call system provided by Versus' partner, Life Safety Systems, Inc. However, Versus is also providing advanced functionality through its Nurse Companion and Fleet Management software applications.
The Versus Advantages Nurse Companion application improves user experience for customers with RTLS functionality added to their nurse call systems. Typical RTLS-automated nurse call systems show staff presence in patient rooms (usually through dome light systems and on screens at the nurses' station) to support automated call cancellation and passive nurse registry. Versus' Nurse Companion application supplements this much needed functionality with additional information related to the locations of other staff, patients and equipment—all on a single screen or workstation. When customers choose to add Versus' Reports Plus™ Analytics application, as Johns Hopkins Hospital has, they can measure metrics such as "Time with Patient" or run hourly "Room Rounding" reports to validate patient care activities. By enhancing staff efficiency and enabling staff to spend more time on direct patient care, the Versus Advantages RTLS helps drive patient satisfaction and related HCAHPS scores.
The Johns Hopkins Hospital chose to adopt Versus' Asset Tracking and Fleet Management application which provides greater visibility into complex equipment operations along with customized viewing options for unique users. With this application, staff at the Sheikh Zayed Tower and at Bloomberg Children's Center have ubiquitous access to the real-time locations of all tagged assets—complete with unique iconography displays to help staff quickly and visually distinguish between equipment, and historical reports to monitor equipment utilization. However, the Materials Management, Clinical Engineering and Service Transport groups have additional Fleet Management capabilities tailored to support their unique needs. For example, the Materials Management group has views, alerts, and administrative responsibilities related to six different pump types (PCA Pumps, PCU Pumps, LVP Pumps, SCD Pumps, Kangaroo Pumps) and their Par Levels in four key areas of the facility (Pediatric PACU, Labor and Delivery, Pediatric ED, and PACU 3). In turn, Service Transport staff has similar views and responsibilities related to wheelchairs and stretchers, but they focus on entirely different areas as equipment moves around and between the hospitals.
Coupled with the Asset Tracking and Fleet Management application is the industry's first-ever RTLS monitored towline. The towline carries food carts from the kitchen to their final destinations. Versus applies business rules to the amount of time these food carts are in transit and waiting for delivery or return. "Healthcare is a people-driven process," says Susan Pouzar, Vice President of Sales, Versus, "but it doesn't make sense to apply time, money or skilled staff members' time to manual tasks when they can be automated. The automation the RTLS provides helps standardize processes and sets delivery expectations that help hospitals and clinics maintain consistency from day-to-day."
Versus provides alerts to appropriate staff members indicating when the food cart arrives at its final towline destination and then again when it arrives at its final floor destination. The system can alert staff if there are back-ups in a certain area or if the food cart has been out for delivery beyond the recommended timeframe. This saves staff time and eliminates the need for staff to constantly check to see if food carts have arrived. Meals get to patients quickly and with less waste.
For over 20 years now, Versus has been promoting the value of an accurate RTLS and choosing well the first time. It's important to have a clinical-grade RTLS solution that covers the basics like asset tracking, but that also positions your facility for more advanced patient workflow applications. "This isn't going to change," Pouzar says. "In fact, it's going to become more important as hospitals are asked to see more patients with declining reimbursement."
======================================= Versus Technology Announces First Quarter Results
TRAVERSE CITY, MI--(Marketwire -03/09/12)- Versus Technology, Inc. (Pinksheets: VSTI.PK - News) ("Versus" or the "Company") announced record first quarter revenues of $2,138,000 for the fiscal quarter ended January 31, 2012, an 85.5% increase over revenues of $1,153,000 for the same period in 2011. Versus' quarterly revenues can vary significantly depending upon the timing of delivery of major customer projects. Accordingly, the revenues reported in any one quarter are not necessarily indicative of what full year results will be.
Gross profits as a percentage of revenues were 69.5% for the quarter compared to 67.0% for the same period in 2011. Operating expenses excluding cost of revenues totaled $1,384,000, or 64.7% of revenues, which exceeded prior year by $46,000, or 3.3%.
Versus reported a pre-tax income of $102,000 for the quarter, compared to a pre-tax loss of $562,000 for the same period in 2011.
======================================= PeaceHealth Saves Millions With RTLS Asset Tracking From Versus
TRAVERSE CITY, MI--(Marketwire -02/15/12)- Versus Technology, Inc. (Versus) (Pinksheets: VSTI.PK - News) is pleased to announce another expansion of Real-time Locating System (RTLS) services to PeaceHealth's Sacred Heart Medical Center at RiverBend. Over the past 7 years, PeaceHealth's staff has been the driving force behind delivering greater value to the organization using the Versus Advantages™ RTLS for clinical automation, improved communication, greater situational awareness and better visibility of patients, staff and assets. The latest RTLS expansions include PAR level enhancements to the facility-wide asset tracking application in place since 2010.
With the equipment tracking application and par level alerts for IV pumps in place, PeaceHealth was able to switch from a lease/rental model to a purchase model for IV pumps. More importantly, even though they reduced their IV pump fleet by 26% (from 923 to 700 units), they were able to ensure the availability of equipment for staff. An ROI study facilitated by Christian Buchsteiner, Healthcare Improvement Engineer, and PeaceHealth Finance has concluded an immediate cost avoidance of about $600,000 and a $2.7 million dollar savings over 10 years for IV pumps alone!
"We knew we needed new distribution process for Infusion pumps and other house-wide small assets like PCA and syringe pumps," explains Buchsteiner. "Initially, we went live with tracking the IV pump location and generating daily replenishment reports twice per day to balance PAR levels. Post implementation, and with the help of Versus experts and PeaceHealth technical resources in HID/CHR, we transitioned our process from a daily replenishing model to a lean Just-In-Time model by designing and implementing a real-time par level management system complete with 'below par level' and 'above par level' alerts for IV pumps to trigger the inventory replenishing and balancing process."
Since go-live (Summer 2011), this new process has been sustained and it has become the standard for asset management. PeaceHealth is currently in the process of expanding the Versus Asset Module to other assets. With each asset brought on-line and following the same "rigger" and method as used for the IV pumps, substantial financial savings are realized and expected.
•Syringe Pump replacement: $45,000.00 (confirmed and planned)
•Feeding Pump replacement: $35,000.00 (estimate)
•PCA Pump replacement: $100,000.00 - 250,000.00 (estimate)
The transition to a reduced inventory model was a hard sell, but was accomplished through the use of the facility's existing RTLS technology and promise to provide an "economy of plenty" to caregivers. Ensuring equipment was available when and where needed required equipment utilization and placement studies as well as some process changes. However, the results have been worth it. Beyond saving millions as described above, other benefits have been realized.
As an example, before the par level alerts were implemented, the distribution department would receive approximately six calls each day for IV pumps and the "noise" and frustration of caregivers who had to "hunt" for pumps was a daily occurrence. Now, calls requesting IV pumps are rare and the "noise" is gone, too. Knowing exactly where equipment is has been a huge benefit to Biomed engineering as well, especially the impact on maintenance turnaround time and reliability.
Below, Buchsteiner explains some of the processes required to achieve automated Par Level Asset Management.
"Our first step was to evaluate our IV pump utilization rate throughout the hospital. To do so, we utilized our Versus RTLS solution to track equipment and to fully understand the existing distribution. This provided the foundation for the standardized equipment distribution model we would create."
PeaceHealth's next step was to add simulation testing, which allowed them to analyze pump flow from where patients first and last use the IV pumps. They realized nurses in gateway areas (where patients come in) were always looking for IV pumps; meanwhile, the pumps would collect in discharge areas. The process was prone to pump "hoarding" and "hunting" -- an unsatisfying and frustrating experience for caregivers. In the past, PeaceHealth tried renting additional IV pumps and increasing inventory to eliminate these frustrations; however, this method only increased expenses without solving the root causes of the problem.
Moving from a system where nurses were forced to search for IV pumps and would sometimes hoard equipment required a paradigm shift. Nurses had to have complete confidence in their ability to find a clean IV pump where it was supposed to be whenever it was needed. "To solve this," Buchsteiner says, "a cross-functional team with nursing involvement and great operational leadership provided by Tim May, our Clinical Lead, and Chris McGuire, our Distribution Manager, validated several options, including centralized and de-centralized distribution and inventory models."
"The team realized that a hybrid model that relied on PAR level management would offer the greatest benefit in alignment with key project objectives. The backbone of this new process was the Versus Advantages real-time asset tracking system, and continued success relies on Versus to support PeaceHealth's processes."
PeaceHealth is the most advanced health system in terms of RTLS application spread and clinical knowledge of RTLS to support patient care and operational efficiency. Learn more about this implementation and other RTLS innovations at the HIMSS annual conference in Las Vegas, February 21st through 23rd.
About Sacred Heart Medical Center
Sacred Heart Medical Center is one of the largest hospitals between Portland and San Francisco and a regional referral center serving as a Level II trauma center for an eight-county region. Key services for the nonprofit hospital include the Oregon Heart & Vascular Institute, Neurosciences Institute with a Gamma Knife Center, Gerontology Institute, a Neonatal Intensive Care Unit, and specialized surgical services. Sacred Heart Medical Center has two campuses: RiverBend in Springfield, Oregon, and University District, located in neighboring Eugene, Oregon. For more information, visit the RiverBend online press kit at www.peacehealth.org/newsroom.
======================================= RTLS Educational Opportunities Abound at HIMSS12, Versus Automates Epic EMR
TRAVERSE CITY, MI--(Marketwire -02/14/12)- Each year the annual Health Information Management Systems Society (HIMSS) conference presents an opportunity for vendors to educate consumers and partners as to their products and how they contribute to patient care. This year's HIMSS conference (HIMSS12), taking place in Las Vegas February 21st through 23rd, will be no different and Versus Technology, Inc. (Versus), healthcare's foremost provider of automated patient flow and clinical workflow solutions, will be taking full advantage of the opportunity to connect with and educate clients and partners alike.
According to CMIO Magazine, healthcare IT spending is expected to decline over all segments -- except Real-time Locating Systems (RTLS). In fact, spending on RTLS is the only segment expected to grow over the next two years -- and by a significant amount: 34%. This is because automated workflow solutions like Versus provides, in addition to patient tracking and asset tracking applications, have substantiated increases in patient safety and satisfaction while reducing operational expenses related to staff overtime, scheduling inefficiencies, capacity management and excess equipment.
A key educational opportunity for those interested in RTLS is HIMSS Education Session #182: "Ambulatory Clinic Patient Tracking with RTLS for Process Improvement." Speakers are Brenda Joslyn, RN, BSN, MSB, Manager of Nursing Services at Eastern Maine Medical Center's CancerCare of Maine, and Susan Pouzar, CPHIMS, Versus' Vice President of Sales. This topic moves beyond the more basic and common asset tracking use case to describe CancerCare of Maine's advanced RTLS application: automated patient flow, data capture and performance metric analysis in an ambulatory care environment.
Similar opportunities to discuss advanced RTLS applications with Versus customers and patient flow experts are available at Versus' booth (#5852) each day during the HIMSS12 conference. Attendees can sign up for sessions ranging from innovations in workflow analytics and automation to how RTLS supports patient satisfaction (HCAHPS) and patient safety. Moderators of these roundtable sessions include Brenda Joslyn from Eastern Maine Medical Center, Ginger Banks, RN, BSN, MBA -- an expert on the Versus Advantages™ implementation at PeaceHealth, which has deployed more RTLS applications for process improvement than any other healthcare system, and Mary Longe, Director at AHA Solutions, and patient flow solutions expert.
Other happenings at Versus' booth include the debut of Reports Plus™ Analytics featuring the most advanced RTLS analytic reporting capabilities available. Reports Plus™ Analytics contains over 40 patient, staff, equipment, and quality measurement reports -- each with flexible report criteria -- and the ability to create your own reports and dashboards using the Reports Builder™ module. Attendees will learn which reports are best for analyzing Lean Sigma and Clinical Quality Metrics, how to drill-down to individual patient care metrics and which dashboards, scatter charts, bar graphs or lists are most beneficial for viewing patient care milestones. Versus will demonstrate how it has made clinically-relevant RTLS data more accessible and valuable to caregivers, administrators and end-users.
Versus will also be introducing another option for collecting and distributing this highly accurate real-time data. The Smart-IR™ Wi-Fi Sensor is a new wireless Wi-Fi-enabled RTLS node that collects and prioritizes location data. By offering a choice of reliable wired and flexible wireless platforms, the Smart-IR Wi-Fi Sensor allows Versus to continue guaranteeing customers the same "No False Positives" clinical-grade accuracy through its infrared location signal, while allowing customers to utilize their existing Wi-Fi networks to communicate location data back to the system server.
Smart-IR eliminates the need for wiring in areas where it is impossible or cost prohibitive. Unlike other Wi-Fi systems, when using the Smart-IR Wi-Fi Sensor, badges and tags require neither discreet IP addressing nor proprietary WCS licensing. There is also no additional cost related to Wi-Fi network expansion and administration. The result is a low total cost of ownership. Finally, the Smart-IR Wi-Fi Sensor is fully backward compatible to Versus' existing 650+ RTLS installations, allowing current customers to expand to new areas quickly and cost effectively.
Versus' capability to seamlessly integrate with other healthcare systems allows a hospital to truly leverage location-based information to automate tasks throughout the facility. Most recently, at Memorial Hospital Miramar, Versus integrated to Epic's EMR to provide accurate patient location updates and to Epic's Prelude/ADT product via HL7 v3 web-based services. Memorial Hospital Miramar prefers that clinical systems integrate to Versus because Versus keeps all systems in sync and up-to-date automatically with patient tracking data. Though several other Versus customers are currently in the planning process, the integration at Miramar is the premier RTLS integration to an Epic product and the first to apply the HL7 v3 standards.
======================================= An Industry First: PeaceHealth Implements RTLS in Labor and Delivery
TRAVERSE CITY, MI--(Marketwire -02/07/12)- Versus Technology, Inc. (Versus) (Pinksheets: VSTI.PK - News) is pleased to announce another expansion of Real-time Locating System (RTLS) services to PeaceHealth's Sacred Heart Medical Center at RiverBend. As an organization, PeaceHealth relies on Versus to support location and patient flow automation within several of its emergency department environments as well as its anesthesia clinic and house-wide at Sacred Heart Medical Center at RiverBend in support of OR workflows, house-wide asset tracking and nurse call automation. PeaceHealth also is utilizing Versus' RTLS data for a number of very important continuous improvement projects.
PeaceHealth's staff has been the driving force behind delivering greater value to the organization using the Versus Advantages™ RTLS for clinical automation, improved communication, greater situational awareness and better visibility of patients, staff and assets. The latest RTLS expansions include new workflow designs for the Labor and Delivery department and the Mother Baby Unit.
After months of functioning in their new Labor and Delivery department, PeaceHealth staff wanted additional visibility into the patient care areas. It was difficult to know where doctors and nurses were within patient rooms and throughout the department. Staff wanted to address what they perceived to be a patient safety issue, but also be more efficient and more responsive. They needed a solution to help visualize patient and staff movement within their very large and expansive department. PeaceHealth trusted Versus to provide this visibility and lean process management based on the efficiency and communication gains they were already experiencing in the Emergency Department.
Already familiar with Versus and its ability to adapt to the facility's existing workflows, the Labor and Delivery department outlined their workflows and what they hoped to capture utilizing the Versus Advantages solution. They approached Versus, asking the company to automate the functionality they had outlined. Versus responded with a new, custom application that provides the Labor and Delivery department with a view of patient and staff locations, room status, and the status of certain orders like epidurals and lab tests. These new views communicate to staff the status of laboring moms whether in pre-labor or active delivery.
These new tools allow staff to quickly locate one another and communicate patient status in real time without having to physically search the floor or pick up the phone. "The system is very intuitive. Everyone utilizes it," says Becky Moore, RN. "There's no way to explain what a difference it makes being able to communicate automatically via the boards."
Cindy Hunter, RN, shared a go-live situation which says it all: "There was a serious post-partum hemorrhage followed rapidly by a second incident that required the Post-Partum Hemorrhage cart (like a crash cart but with specific equipment needed for post-partum hemorrhage). The staff involved in the first incident didn't know about the second one and vice versa. The technician who was sent for the PPH cart used the Versus system to locate the cart quickly in a patient room and retrieve it for her team. The ability to locate the PPH cart quickly saved valuable time and much anxiety for all involved."
The Versus Advantages solution helps improve visibility and care progression. "Our goal," Susan Pouzar, Vice President of Sales for Versus, explains, "is to bring situational awareness to staff to improve safety, efficiency and satisfaction for both patients and staff."
The solution has been so popular, expansion into the Mother Baby Unit has already occurred. The Mother Baby Unit is utilizing the Versus Advantages solution for similar reasons, though views and workflows are different. For example, the Mother Baby Unit has custom iconography to allow staff to quickly identify whether Mom has a boy, girl, twins, other multiples and whether an adoptive family is also involved.
About Sacred Heart Medical Center
Sacred Heart Medical Center is one of the largest hospitals between Portland and San Francisco and a regional referral center serving as a Level II trauma center for an eight-county region. Key services for the nonprofit hospital include the Oregon Heart & Vascular Institute, Neurosciences Institute with a Gamma Knife Center, Gerontology Institute, a Neonatal Intensive Care Unit, and specialized surgical services. Sacred Heart Medical Center has two campuses: RiverBend in Springfield, Oregon, and University District, located in neighboring Eugene, Oregon. For more information, visit the RiverBend online press kit at www.peacehealth.org/newsroom
======================================= Versus Technology Announces Fiscal Year Results
TRAVERSE CITY, MI--(Marketwire -12/21/11)- Versus Technology, Inc. (Pinksheets: VSTI.PK - News) ("Versus" or the "Company") announced revenues of $2,605,000 for the quarter ended October 31, 2011, compared to revenues of $1,600,000 for the same period in 2010. Fourth quarter revenues represent a 62.8% improvement over the same quarter of the prior year and the fourth consecutive quarter of growth. For the full fiscal year ended October 31, 2011, revenues totaled $6,589,000 compared to revenues of $7,703,000 for fiscal year 2010. Versus' revenue can vary significantly depending on the timing and delivery of major customer projects. Accordingly, revenues reported in any one quarter are not necessarily indicative of what full year results will be.
Gross profit for the current year's fourth quarter as a percentage of revenue was 72.7% compared to 67.3% for the same quarter of the prior year. Fiscal 2011 gross profit as a percentage of revenue was 71.0% compared to 71.3% in fiscal 2010.
Fourth quarter operating expenses other than cost of revenue totaled $1,190,000, or 45.7% of revenues, compared to $858,000, or 53.6% of revenues, in 2010. Operating expenses other than cost of revenues for the full year increased from $4,826,000, or 62.3% of revenues in 2010 to $4,964,000, or 75.3% of revenues, in 2011. The increase is the direct result of continued investment in growth strategies directed at building the sales organization and dealer network.
Net income for the quarter ended October 31, 2011, was $704,000 compared to net income of $222,000 for the same period in 2010. For the full year, the Company reported a net loss of $278,000 compared to net income of $675,000 for fiscal 2010.
======================================= Versus Advantages(TM) Real-time Locating System (RTLS) Selected by The Johns Hopkins Hospital
TRAVERSE CITY, MI--(Marketwire -11/29/11)- Following two successful Versus pilot projects, The Johns Hopkins Hospital has selected Versus Advantages™ RTLS from Versus Technology, Inc. (Pinksheets: VSTI.PK - News). The Real-time Locating System will support staff locating and asset tracking in the Weinberg building OR and automated nurse call cancellation throughout the Johns Hopkins new clinical buildings. Johns Hopkins evaluation efforts began in 2008.
Between May and December 2008, The Johns Hopkins Hospital piloted several different real time locating system solutions throughout their 12,000 sq. ft. Simulation Center. These pilots included staff and asset tracking utilizing a variety of real time locating system technologies, including Wi-Fi, a beacon infrared (IR) and Radio Frequency Identification (RFID) system and IR-RFID solution from Versus. To conduct the pilots, Johns Hopkins permitted each vendor to install their solution and train Sim Center staff to use the system. From there, the RTLS was used continuously for six weeks. Staff were able to evaluate accuracy, ease of use and alerts capability. After the six-week test period, the RTLS in use was removed and the next was installed. This guaranteed that each RTLS received ample and dedicated use during the pilot phase.
Following the results of the Sim Center pilot, Versus RTLS was installed in the Weinberg OR for a production system pilot. Here, Versus RTLS was evaluated for its ability to provide the location of key staff members and critical clinical assets to support the workflow of a busy OR. This included producing accurate reports of asset utilization to better locate equipment. This pilot began in November 2009 and lasted 90 days. The pilot was deemed successful and the RTLS, having proven its worth, remains in use for asset tracking.
A separate pilot was conducted in The Johns Hopkins Hospital Nelson building on the 8th floor nursing unit. This pilot focused on using Versus RTLS to automate GE's Telligence nurse call system. Following successful demonstration of automated nurse call cancellation and passive nurse registry, Versus Advantages RTLS for staff locating, asset tracking and nurse call automation was selected for deployment in the new clinical building, opening in April 2012.
"While there is much work yet to be done, these 'Proof of Concept' evaluations represent significant milestones for Versus," says HT Snowday, President, Versus. "To have one of the world's top healthcare and research facility test, and ultimately choose to implement, our solution helps substantiate the story we've been telling for over 20 years. Accuracy matters." Versus has demonstrated a unique blend of accuracy, application suitability, enterprise scalability, cost effectiveness and clinical reliability with regard to both its hardware and software. Through service and commitment to innovation, Versus has elevated the standards to which RTLS is expected to perform in today's healthcare delivery environment.
======================================= Northwest Michigan Surgery Center Selects RTLS From Versus
TRAVERSE CITY, MI--(Marketwire -11/10/11)- Michigan's largest surgery center, Northwest Michigan Surgery Center recently selected the Versus Advantages™ (Pinksheets: VSTI.PK - News) Real-time Locating System (RTLS) to help improve the patient care experience. Key focus areas include relaying patient status information to families in the waiting room and automated process flow management for clinical staff.
Northwest Michigan Surgery Center is one of the largest surgery centers in Michigan and ranked among the top in the nation. Averaging around 80 patients per day within their six operating rooms and four procedure rooms, the center maintains an incredibly high patient volume, which it seeks to continually improve and manage.
Currently, Northwest Michigan Surgery Center staff manually record and calculate patient wait times. When using the Versus Advantages Clinic solution, patients will receive a small Clearview Badge which emits a safe Infrared signal. This locating badge, coupled with the Versus Advantages software, will allow Northwest Michigan Surgery Center to capture, display and report on several patient care elements.
1. They will know instantly and at a glance, how many patients are waiting in the waiting room and other areas of the clinic.
2. On the exam and surgery sides, they'll know exactly where each patient is, when and where they interacted with staff and where the patient is in terms of the visit progression.
3. They'll know how long each patient has been waiting, how long since the patient was last seen and how much time the patient spends with the Medical Assistant, Nurse, Physician or lab technician.
4. They'll be able to share this information with patients' family members in the waiting areas via electronic Glance-and-Go™ boards -- cutting down on interruptions to staff.
5. The RTLS will be integrated to the clinic's SourceMedical Vision EHR™ and to the clinic's scheduling system to automate patient badge assignments.
For the first time, the clinic will be automatically capturing real-time-based patient care metrics and interaction data. "Through the immediate feedback we'll be providing patients and their families, we expect the solution to have a positive impact on patient satisfaction," says Jim Stilley, CEO, Northwest Michigan Surgery Center. "Behind the scenes, we'll be improving our patient flow processes through automation and continuously collecting data that will allow us to evaluate and report on our procedures. This is important to our ongoing patient satisfaction and process improvement goals."
While more and more clinics have begun to realize the benefits of automated patient workflows to facilitate operations and safety, the concept is still relatively new among clinics. Northwest Michigan Surgery Center is one of many on the growing list of Versus outpatient clinic customers. "Versus was an easy choice to make," Stilley says. "They're the only ones in the industry providing the location accuracy necessary to automate clinical workflows, they work with the top healthcare organizations in the nation, and they're located just miles from our facility. We can't imagine a better arrangement to bring this technology to our patients."
The Versus Advantages solution will be showcased at the Medical Group Management Association (MGMA) 2011 Annual Conference in Las Vegas, October 23-26, 2011, booth #1604.
About Northwest Michigan Surgery Center
The Northwest Michigan Surgery Center (NMSC) was developed by local physicians, in partnership with Munson Medical Center, to create a state of the art outpatient surgical center. This 90,000 sq. ft. complex has been providing surgical services in Northern Michigan since 2004. The NMSC team is comprised of 80 board certified or board eligible Physicians, 43 Anesthesia providers, and a dedicated Healthcare Staff of over 120 people. Providing care to over 17,000 patients annually, the facility optimizes use of its six operating rooms, four procedure rooms and over 44 pre/post-operative beds with five extended stay/overnight rooms. Since its inception, NMSC has maintained the highest level of Federal and State certification as well as national accreditation.
======================================= Versus Technology Announces Third Quarter Results
TRAVERSE CITY, MI--(Marketwire -09/01/11)- Versus Technology, Inc. (Pinksheets: VSTI.PK - News) ("Versus" or the "Company") announced revenues of $1,520,000 for its third fiscal quarter ended July 31, 2011, a 15.4% decrease compared to revenues of $1,797,000 for the same quarter of the prior year. Revenues for the nine months ended July 31, 2011, were $3,894,000, compared to $6,103,000 for the nine months ended July 31, 2010, a 36.2% decrease.
Versus' quarterly revenues can vary significantly depending upon the timing of delivery of major customer projects. Accordingly, the revenues reported in any one quarter are not necessarily indicative of what full year results will be.
Gross profits as a percentage of revenues were 71.5% for the current year's third quarter compared to 69.8% for the same quarter of the prior year. Fiscal 2011 year-to-date gross profit as a percentage of revenues is 69.3% compared to 71.2% year-to-date in fiscal 2010.
Operating expenses other than cost of revenues for the third quarter ended July 31, 2011, totaled $1,103,000, a 10.3% decrease, compared to third quarter fiscal 2010 operating expenses of $1,229,000. Year-to-date operating expenses totaled $3,774,000, a 5.0% decrease, compared to prior year-to-date operating expenses of $3,970,000.
Versus reported a net loss of $15,000 for the third quarter of fiscal 2011 compared to net income of $38,000 for the same quarter of the prior year. The Company reported net loss of $982,000 for the nine months ended July 31, 2011, compared to net income of $450,000 for the nine months ended July 31, 2010.
For additional information, please refer to the attached unaudited consolidated financial statements.
About Versus Technology, Inc.
Established in 1988, Versus Technology, Inc. specializes in real-time location systems (RTLS) for healthcare. Used for enterprise patient tracking, bed management, asset tracking, and nurse call automation, Versus Advantages™ improves patient flow and documentation of caregiver and patient interactions, while enhancing communication and efficiency. Exclusively endorsed by the American Hospital Association, the Versus Advantages infrared (IR) and Active RFID solution is responsible for clinical-grade location and automation at a number of hospitals, clinics and long-term care facilities throughout North America. To learn more about Versus Technology, Inc. (Pinksheets: VSTI.PK - News), our technology and client successes, visit www.versustech.com and take the Advantages Tour.
Joseph E. Winowiecki
Chief Financial Officer
======================================= Versus to Exhibit at RFID Journal Event; RTLS Lunch and Learns
Press Release: Versus Technology, Inc.
TRAVERSE CITY, MI--(Marketwire -08/30/11)- Versus Technology, Inc. ("Versus") (Pinksheets: VSTI.PK - News) will be exhibiting at the RFID in Health Care Conference, September 13, 2011 and hosting Patient Flow Lunch and Learn Seminars in Atlanta, GA and Kansas City, MO on September 14 and 15, 2011.
The RFID in Health Care Conference offers an opportunity for Versus to demonstrate the advantages of an accurate IR/RFID Real-time Location System (RTLS) in healthcare. Versus will showcase real-world, evidence-based solutions that are advancing healthcare delivery through patient flow automation, clinical efficiency gains and superior Clinical Quality Measure reporting capabilities. The show takes place September 13, 2011 at the Embassy Suites Lakefront in Chicago, IL.
Versus will also be hosting a series of Patient Flow Seminars aimed at helping healthcare facilities understand how to best leverage RTLS throughout an organization for improved safety and efficiency. There will be two immediate opportunities to take advantage of Versus' and our clients' experience: the first is September 14 in Atlanta, GA and the next is September 15 in Kansas City, MO.
The primary speaker at these Lunch and Learn events will be Virginia Banks, RN, BSN, MBA, and former Clinical Analyst at Sacred Heart Medical Center at Riverbend. Ms. Banks brings unprecedented insight into leveraging one RTLS platform for multiple gains in workflow efficiency and situational awareness. Ms. Banks will discuss her real-world experiences with RTLS, detailing the RTLS journey Sacred Heart and the other PeaceHealth hospitals embarked on that has included leveraging their Versus RTLS system for multiple applications over the last five years, including asset tracking, fleet management, nurse call registry, and patient workflow automation.
This is a must-see presentation for any healthcare facility planning on deploying RTLS. Participants will learn how PeaceHealth utilizes RTLS throughout its facilities, including custom applications in the Emergency, Operating, Labor & Delivery, and Anesthesia Clinic areas. The presentation will also provide insight into advanced RTLS application deployed at: Virginia Mason Medical Center, Anne Arundel Medical Center, and Pacific Medical Center to help attendees understand how Versus' clients have achieved positive ROIs, such as:
•Patient satisfaction scores in the 90s
•75% reduction in phone calls
•Ability to see 35 patients within 4.5 hours
•An additional $1 million revenue within 6 months
•Patient rooming within 1 minute or less
•Decreased Decision to Admit times 50%
•Cut 40% off overall length of stay while doubling volumes
•Eliminated waiting rooms, added revenue space
•Savings of $600,000 on day one with par level management of IV pumps
Those interested in attending this complimentary luncheon are invited to register online. Space is limited, so reserve your spot today!
About Versus Technology, Inc.
Established in 1988, Versus Technology, Inc. specializes in real-time location systems (RTLS) for healthcare. Used for enterprise patient tracking, bed management, asset tracking, and nurse call automation, Versus Advantages™ improves patient flow and documentation of caregiver and patient interactions, while enhancing communication and efficiency. Exclusively endorsed by the American Hospital Association, the Versus Advantages infrared (IR) and Active RFID solution is responsible for clinical-grade location and automation at a number of hospitals, clinics and long-term care facilities worldwide.
======================================= Versus Responds to Customer Requests for Advanced RTLS Functionality
TRAVERSE CITY, MI--(Marketwire - 07/14/11) - Versus Technology, Inc. (Versus) (Pinksheets:VSTI - News) today announces new features and functionality for its Real-Time Locating System (RTLS) customers. This includes new screens for viewing status and location of patients, staff and assets, new tools for reporting and improved access to third-party systems via the Versus Advantages™ solution.Showcased at the VA RTLS conference in June, art of the innovative feature set includes a new version of the Versus Glance-n-Go™ screen for viewing real-time location and status information. Called the Console View™, it conveniently combines elements from multiple views to make a Floorplan, Dashboard, List View and Alerts all available on one screen. The Console View is accessible through Versus' primary location viewing application through tabs at the top of the screen which allow users to switch from map views, room-centric list views, patient-centric list views and views of provider schedules or assets. The primary benefit of the Console View is that, because data is consolidated in one tab, users can likely reduce the number of display screens required. For example, until now, if the customer wanted simultaneous display of the Floorplan and List View, it required two monitors. Now they can opt for this one Console View on one monitor, saving space and money.Another view-oriented enhancement is the Versus Time and Motion Map™. This feature provides a graphical location path of a badged item or person on a Versus Floorplan view. It displays the chronological history by "drawing" the path of a badged person or tagged asset in real-time as it moves from one location to another. Time spent in each location can also be displayed. This feature will aid hospitals intending to conduct Time and Motion Studies for greater efficiency. Versus also foresees customers using this feature to enhance infection control measures. It would allow staff to better understand where an infectious patient has traveled within the facility, and how much time the patient spent in each location.Versus has again enhanced its reporting capabilities. By capitalizing on the clinical milestones that only Versus is able to set, capture and automate, Versus has improved healthcare's ability to analyze patient care milestones and workflow efficiency -- a key part of the Stage 2 Meaningful Use criteria. Enriching Versus' already unparalleled Reports Plus™ package are the Scatter Milestone Chart, the 24-hour Milestone Management Report, and the Badge Census by Location Report.
•Scatter Milestone Chart: Provides an interactive view of workflow efficiency across a given time period with drill-down access on patients (or providers) to analyze potential process improvements. You choose the milestone you want to analyze; for example "ED-1 Arrival to Departure." (This is a Meaningful Use Clinical Quality Measure.)
•24-hour Milestone Management Report: Provides 24-hour (or per shift) averages for selected milestones allowing facilities to compare and analyze trends over time.
•Badge Census by Location: Allows facilities to identify badge volume in a given location over a selected period of time. This report provides an accurate measurement of patient throughput volume as it captures all badge traffic, even when badges are reused for patients.
Versus, a long-time innovator in the healthcare RTLS market, has always been a leader at integrating with other healthcare systems. Versus continues to improve its ability to seamlessly integrate with other healthcare systems both at a data and application levels. With a simple click, users can now launch third-party applications in context to the information being displayed in Enterprise View, thus providing quick access on vital information to healthcare providers. For example, staff needing to view lab order results for a particular patient can easily click on the "lab orders complete" icon (updated automatically) from a Versus Enterprise View patient board and launch the lab orders application to view the patient's specific results.According to Kevin Jackson, Versus' Director of Development, "The bulk of Versus' development projects are driven by customer needs and requests, and, quite often, are in response to government regulations that, while intended to make healthcare safer, often put more strain on care providers. Versus' goal is to remove the burden of data entry, automate for greater efficiency and improved communication, and provide data so that healthcare providers can document progress and analyze clinical processes." These new features and functionality are already deployed and in operation at several Versus clients sites and have proven to assist with efficiency gains, increased patient satisfaction and financial savings. They will help Versus meet its goal to save the global healthcare industry $1 billion annually.About Versus Technology, Inc.
Established in 1988, Versus Technology, Inc. specializes in real-time location systems (RTLS) for health care. Used for enterprise patient tracking, bed management, asset tracking, and nurse call automation, Versus Advantages™ improves patient flow and documentation of caregiver and patient interactions, while enhancing communication and efficiency. Exclusively endorsed by the American Hospital Association, the Versus Advantages infrared (IR) and Active RFID solution is responsible for clinical-grade location and automation at a number of hospitals, clinics and long-term care facilities worldwide. To learn more about Versus Technology, Inc. (Pinksheets:VSTI - News), our technology and client successes, visit www.versustech.com and take the Advantages Tour.Safe Harbor Provision
Versus Technology, Inc.
Director of Marketing
Versus Technology, Inc.
Chief Financial Officer