Quture/TCLN Announces First Commercial Application on InterSystems Platform
Medical Proctoring Product on Leading Technology Platform to Be Available in Early 2012; Marketing to Target Over 5000 Hospitals With Potential $500,000,000 US Market
WEST PALM BEACH, FL--(Marketwire - Dec 20, 2011) - Techs Loanstar, Inc. (OTCQB: TCLN) (PINKSHEETS: TCLN) and Quture, Inc. ("Quture") are aggressively preparing to release the first commercial component of their new product line. Quture's new "transformative" performance measurement tool will introduce electronic performance measurement on the InterSystems Corporation (www.InterSystems.com) technology platform. This application will be used to electronically "proctor" the clinical performance of physicians and practitioners for current clinical proficiency and competence to use medical devices and perform specific clinical interventions, and procedures.
Proctoring is a process for peers to assess the clinical capability of physicians and practitioners to use new clinical procedures, either new for them or when they are new to a hospital or surgery center. Proctoring is mandated by the Joint Commission as a published and required standard to be accredited and receive federal funds from Medicare or Medicaid. Until now, physicians have reviewed medical records, used direct observation, simulation, and interviews to assess the competence of their peers to satisfy this mandate.
The Application Partnership Agreement with InterSystems is now the focus of a series of Demonstration Projects for new commercial product applications at hospitals throughout the United States. Keith Candiotti, M.D., continues to lead the development of this application. He now serves as Vice Chair of Clinical Research, Department of Anesthesiology, Jackson Memorial Hospital and University of Miami Miller School of Medicine. As the former director of the training and residency program, Dr. Candiotti is uniquely qualified to guide the science of measuring clinical performance in the required ACGME framework. The extensive intellectual property of Quture is embedded in the Company's clinical performance measurement product on the InterSystems platform. InterSystems and Quture hope to soon jointly announce the success of a series of Demonstrations after its application with selected performance and outcomes measures to electronically measure clinical performance of new medical procedures or by physicians for the first time to credentialing medical practitioners. The Demonstrations will prove the use of electronic data integration and analytics to transform existing labor-intensive, anecdotal, and vital quality and risk management processes to rapid, enterprise-wide electronic processes.
"This is another big step forward in our development," said Landon Feazell, CEO of Quture. "The collaboration between Dr. Candiotti and Dr. Janice J. Ophoven, as previously announced, in using the incredible technology platform of InterSystems is a significant milestone. Our first component will be commercially available in early 2012, and this product is a key component for hospitals to electronically and scientifically achieve the mandate of the Joint Commission. Our marketing will be targeting over 5000 hospitals with an aggregate marketing potential of $500,000,000." The global market will be the next target for our new proctoring application.
InterSystems' interface engine Ensemble® will be used for data integration to capture clinical data from any vendor's electronic medical records and software into the InterSystems CACHÉ® (http://www.intersystems.com/cache/index.html) object-oriented database. The InterSystems platform is aptly-suited to harness and support the power of Quture's intellectual property. Additionally, InterSystems' DeepSee™ dashboard for embedded real-time business intelligence and Zen report writer complete the platform package for health care enterprise management that is so desperately needed by physicians, clinicians, administration, boards and the quality and patient safety professionals in hospitals and physician groups in America and internationally.
Added Feazell: "It is truly remarkable that InterSystems' technology platform is fully developed and deployed to satisfy our requirements and specifications. We believe we can solve the problems of disparate databases and silos of information that have limited our endeavors for over 35 years of clinical performance measurement in health care. This is a pivotal juncture in health care and its impact on the American economy and on the lives of patients and the professionals devoted to caring for them. We will be proud to introduce these new tools to accomplish our mission and to exceed and bring new capability to the extensive new federal and national mandates and standards."
About Quture
Quture, Inc., a Nevada corporation, is an emerging growth company positioned to rapidly become the international standard in healthcare performance and outcomes measurement and analytics to accomplish its corporate mission. Quture provides healthcare organizations, insurers, government payers, and other stakeholders in the healthcare community with performance measurement tools and data sets. Industry experts agree that performance and outcomes measurement is the "transformative tool" to reduce medical cost and improve quality of care. Quture's management team has 35 years of experience and a long history of working with many of the nation's leading healthcare institutions as a leader and innovator in measuring clinical performance. Quture is now testing its revolutionary solution to effectively and efficiently measure clinical performance from multiple vendor databases.
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.
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