Quture has been on a consistent straight line in the development of its product, the QualOptima Health Informatics Platform, which implements our vision, core competencies and value proposition. Quture’s business and strategic plans have evolved over this time. Simultaneously, our technologies exponentially advanced to deliver our vision. However, external forces required readjustments in our priorities and timelines from these federal and state governmental impacts on the market.
When we launched Quture in 2011, the reverse merger that created QUTR as a publicly traded company, we introduced the Quture plan to solve barriers to quality medical care, reducing exorbitant costs and optimal outcomes. In business plan lingo, what is known as the “problem” must first be accurately and adequately identified and described.
Quture analyzed the problem in health care summarized in The Missing 5 graphic. We have presented the solution to these barriers systematically in our public statements, which we now need to explain further in the context of the Quture solution: ENTERPRISE VALUE MANAGEMENT.
Quture today introduces Enterprise Value Management (EVM), implemented with the QualOptima Health Informatics Platform (PaaS), using Health Data Science by Value Data Centers. EVM empowers healthcare providers, as well as their patients and payers to achieve optimal outcomes, value and patient safety. Quture transforms an output- volume-based enterprise into an impact and outcome-driven enterprise. The fundamental power of EVM is to monitor the healthcare organization’s strategic plan using scientifically significant and precise measures – metrics that matter.
A series of Notes will follow this announcement detailing the significance of this solution. We will explain our progression to EVM in the context of previous announcements. We will track the straight-line strategic development of our informatics platform using health data science to achieve optimal clinical, operational and financial outcomes. The outline for coming Notes anticipates:
- Enterprise Value Management (EVM)
- Aligning information technology with healthcare organization strategies
- Federal legislation (MACRA) impacts on Quture strategies
- Role of Value Data Centers in EVM
- Customer segment marketing
- Risk management HFACS role in EVM
- Customer segment priorities for QualOptima in EVM
- Personalized medicine company
- Engaged patients on the QualOptima platform
- Real-time applications of QualOptima
The strategic and tactical plans of Quture must inevitably confront the market needs of customers, as well as pressures from competitors, inherent in the benefits of the QualOptima Health Informatics Platform. Business opportunities from the common data platform with analytics technologies operate on a 2nd generation database, often called a “data lake,” will be considered in these Notes. Our strategies remain the same, while priorities and timelines must be readjusted based on market and technology changes.
The logical and scientific advances of empowering customer segments from data lakes has three (3) essential progressions to achieve the potential of these data repositories and technologies:
- Retrospective data analysis to examine performance and outcomes in the context of value to develop, implement and monitor optimal clinical processes from the unique but integrated perspectives of quality, risk, and current clinical competence of providers;
- Empower clinicians at point-of-care with aggregated complete patient data reformatted for rapid insight and comprehension – and preferably involve engaged patients with individual-controlled electronic records and care plans; and
- Integrate medically sound predictive modeling at point-of-care, personalized to the meFactors© of the individual and used to engage the patient in data-driven decisions for their health and care.
After election of the President and Congress last November, with the commitment to repeal and replace the Affordable Care Act (ACA), we discussed our readjusted business strategies. The development of Quture’s product, the QualOptima Health Informatics Platform, remains consistent with our long-term strategies and operationalized intellectual property. However, our short-term strategies have been dramatically adjusted to reflect new uncertainties in health care for our QualOptima product. On January 26th we published our Note “Quture’s Future in an Uncertain Healthcare Ecosystem – The QualOptima Universal Informatics Platform.” See http://www.quture.com/category/landons-notes/
The next Notes will also explain why this is not only a time of great uncertainty but a time of profound certainty. Despite the failure to truly debate what the healthcare ecosystem needs, the economic future of our country, and our citizens who will at some point in our lives (and the lives of loved ones), rely on medical care for our health and constitutional right to life and pursuit of happiness.
As the outline of coming Notes suggest, we will also consider how Quture has readjusted our priorities for marketing to specific customer segments. We will again consider how and why we are developing the HFACS application to solve, at least to the best extent possible, the medical errors epidemic. While we have continued to develop the QualOptima Health Informatics Platform, Quture has simultaneously been designing and programming HFACS (Human Factors Analysis & Classification System) software. Fundamental to the QualOptima data model and architecture, HFACS embeds the extraordinary causation classification framework to analyze risk and prevention of harm as specific interventions for safe optimal clinical processes.
For the benefit of our investors and potential customers, our Notes begin to explain the marketing and sales considerations for QualOptima. While most information technology (IT) vendors are averse to changing the way and workflow of how customers work, QualOptima is transactional technology. The significance of venture capital in the tens of millions of dollars to companies competing in our markets, ranging to the acquisition of a data analytics company with analytics functionality (as opposed to transactional technology) for $1.3 billion dollars, will be examined.
The impact of MACRA, as Meaningful Use (MU) changes, will be considered in the context of our plans for personalized precision health and medicine. This legislation has had both positive and negative impacts on our strategies. Balancing certainty versus uncertainty in the healthcare ecosystem requires constant and consistent vigilance. As Quture posts these Notes, we hope to communicate to investors and potential customers the strategies, priorities and timelines of our vision, core competencies and value proposition. These Notes further provide context for another major announcement anticipated and intended for the immediate future.