Monday September 14, 1:33 pm Eastern Time
Company Press Release
Integrated Healthcare Systems Lands State-Wide Contract for Healthcare Data Collection
RESTON, Va.--(BW HealthWire)--Sept. 14, 1998--Integrated Healthcare Systems Inc. (OTC Bulletin Board: IGHS - news), a national developer of integrated quality improvement, risk management and case management software systems for the healthcare industry, today announced the company has landed its first contract with a midwest hospital association for the first phase of a project with potential in excess of $3,000,000 over a multi-year period.
The project will connect all the hospitals in the state, via an intranet based ''virtual network'' to a central state-wide healthcare database.
''It's the most important contract in our history,'' stated Alan Grofe, president of Integrated Healthcare Systems Inc. ''This project's success leads to expansion of this intranet into several other hospital associations in this burgeoning healthcare quality improvement and performance measurement arena.''
This virtual network, which uses an enhanced version of IHS's I-Link 32 Interface Engine product, will provide timely, very accurate tactical data to the central state-wide database for the first time. Prior information collection methods have utilized billing data which is many months to years old.
''This timely tactical information, which has not yet been transmuted into billing data, then becomes extremely useful strategic information for all of the hospitals in the state to use,'' stated Grofe.
Integrated Healthcare Systems Inc., designs, develops, markets and maintains integrated quality, risk and case management systems for the healthcare industry. The company's systems are helping hospitals all over the country build focused quality improvement and risk reduction programs by identifying inconsistent elements and trends, and in developing effective process improvement strategies. In addition to I-Link 32, an integrated suite of independent systems and modules is available for Quality Management, Risk Management, Staff Credentialing, Case/Utilization Management and Infection Control under the DataQual System. Integrated Healthcare Systems Inc. is a publicly owned company that is traded on the OTC Bulletin Board under the symbol -- IGHS.
This announcement may contain, in addition to historical information, certain forward-looking statements that involve risks and uncertainties. Such statements reflect management's current views and are based on certain assumptions. Actual results could differ materially from the assumptions currently anticipated.
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