This might be why IGHS needs GBIT:
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RESTON, Va.--(BW HealthWire)--Sept. 14, 1998--Integrated
Healthcare Systems Inc. (OTC Bulletin Board: IGHS), 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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BRIEF: GBIT provides system integration and information
technology services and assembles and supplies build-to-suit
computer equipment for corporate clients, governmental
entities, institutions, professional users and resellers.
For the 6 months ended 6/30/98, net sales rose 15% to
$21.3M. Net income from continuing ops. applic. to Common
totalled $1.2M vs. a loss of $1.1M. Results reflect
additional sales efforts and staff, and higher margins.
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