RENO, Nev., May 24, 2011 /PRNewswire/ -- Visual Healthcare
Corp. (the "Company") (NASDAQ OTC: VSHC) announces that it is
seeing robust demand for the new stand-alone version of its
powerful adverse drug event prevention technology. The company has
begun to roll out this new ADE focused version to medical
facilities as a direct response to the Obama administration's
billion-dollar patient-safety program aimed at reducing preventable
drug errors.
The stand-alone version can be deployed in less than six weeks
and become operational immediately. Resulting cost savings are
passed on to hospitals which can then recoup their investment in
less than a year. Adverse drug events cost an average $7,000 per case, representing an annual burden in
the millions which can be substantially reduced by using smart
technology to make drug prescriptions safer.
"This rapid ramping up in ADE business is a vindication of our
patient strategy," says Chairman Gerard
Dab. "Our strength has always been patient-centric medical
knowledge and we have resisted selling low value services with no
future like many others in our field. Our revenues are simple to
track. It all stems from medical content management for
clinicians."
Mr. Dab continues making his point about high value revenues,
stating that current Q4 is shaping up to be the best quarter in the
Company's 11-year history. "We are expected to reach the million
dollar mark," he adds reiterating that he sees some 20 deals having
a value of more than $15 million in
the next 12 months. "Subsequently as budgets increase, growth of
this product line will continue to be exponential," concludes Mr.
Dab.
The White House ADE initiative comes after a study showing that
one in three patients admitted to hospitals suffers a medical error
or accident. President Obama is challenging hospitals to
dramatically cut mistakes and readmissions due to preventable
errors or negligence by 40 percent, and cut preventable hospital
readmissions by 20 percent. The first tranche of $1 billion is being funneled to the industry
under the Patient Protection and Affordable Care Act.
"Reducing the massive incidence of drug errors in hospital can
only be achieved by automation and using smart systems like ours,"
says Mr. Dab. "We have waited long years to have the need for
our technology recognized by Public Policy. This considerable
program demonstrates the seriousness of the Obama commitment to
patient safety in America."
Visual Healthcare platforms for Adverse Drug Event applications
are used successfully by over one thousand clinicians and have been
demonstrated to reduce both morbidity and cost associated with
hospital errors by more than 30% and deadly errors by 50%.
ABOUT VISUAL HEALTHCARE
Visual Healthcare Corp., since 1998, designs, creates and
develops innovative information platforms, specifically conceived
for the automation of a wide range of scientific disciplines. These
include pharmaceutical research, clinical trials, laboratory
automation, true quality assurance tools, total quality control
applications. They also include quantitative analytic tools
such as proprietary frameworks for electronic health records,
electronic prescription, infection and disease control, and smart
cancer registries. The company's extensive portfolio of proprietary
technologies is the result of a unique collaboration between senior
clinicians from the McGill University
Faculty of Medicine and affiliated tertiary care centers, medical
software architects, and a Fortune 100 healthcare service company,
investing some $50 million in the
process. The Company licenses its technology to operating companies
in exchange for an equity stake or a royalty stream. It owns
significant stakes in various companies including VisualMED
Clinical Solutions Corp. (NASDAQ OTC: VMCS), a leader in the field
of electronic health records.
For more information, please visit:
www.visualhealthcarecorp.com.
FORWARD- LOOKING STATEMENTS
Except for historical information provided herein, this press
release may contain information and statements of a forward-looking
nature concerning the future performance of the Company. These
statements are based on suppositions and uncertainties as well as
on management's best possible evaluation of future events. Such
factors may include, without excluding other considerations,
fluctuations in quarterly results, evolution in customer demand for
the Company's products and services, the impact of price pressures
exerted by competitors, and general market trends or economic
changes. As a result, readers are advised that actual results may
differ from expected results.
Contact:
Gerard Dab, CEO
Visual Healthcare Corp.
514-582-5220
SOURCE Visual Healthcare Corp.