RENO, Nev., May 18, 2011 /PRNewswire/ -- Visual Healthcare Corp. (the "Company") (NASDAQ OTC: VSHC) announces its decision to start selling a stand alone version of its powerful adverse drug event prevention technology to medical facilities and hospitals. The company is rolling out this new focused version as a direct response to the Obama administration 1 billion dollar patient-safety program aimed at reducing preventable medical errors.
The stand alone version, still running on an Oracle (ORCL) data base, will be installed in a matter of weeks and operational immediately as it requires minimal training for clinicians. The resulting cost savings are passed on to the hospital which can then recoup its investment in less than a year. Adverse drug events represent a serious financial concern as they cost an average of some $7,000 per case, adding up to an annual burden in the millions.
"We will be signing deals in the next 30 days which could have an impact as early as the current quarter," says Chairman Gerard Dab. "Pressure from the White House is having a strong impact on the marketplace. Early adopters seeking to move ahead will be signing some 20 deals having a value of more than 15M in the next 12 months. Subsequently as budgets increase, growth of this product line will continue to be exponential," concludes Mr. Dab.
This watershed program follows the publishing of a study showing that one in three patients admitted to hospitals suffers a medical error or accident. Through this program, President Obama is challenging hospitals to dramatically cut mistakes and readmissions due to preventable errors or negligence by 40 percent and cutting preventable hospital readmissions by 20 percent. The first tranche of 1 billion is being funneled to the industry under the Patient Protection and Affordable Act.
"Reducing the massive incidence of drug errors in hospital can only be achieved by automation and using smart systems like ours,"