ICT – Healthcare Reporting
Business Description
Healthcare Reporting and Assessment Solutions
A private Healthcare Reporting and Assessment Solutions company, code-named ICT Co. (“ICT”), is a pioneer in the field of Healthcare Reporting and Assessment Solutions and a leading provider of Web Based resident assessment and reporting software for inpatient point-of-care. In addition, ICT provides professional services and specialized data metrics research. As a pioneer in the Healthcare Reporting and Assessment Solutions industry, ICT is now evaluating strategic alternatives for their business.
The Company:
Established in 2001, ITC has been the pioneer in the delivery of cost effect Healthcare reporting and assessment solutions for Hospitals, long-term care providers and home care providers. ITC derives revenues from sales of their (4) core product offerings, which are fully-integrated web-based software applications. They have significant international strategic partnerships, helping drive product sales for all 4 core offerings.
The Technology:
ITC’s products incorporate “first to” technology that is unequalled in their industry. Web based interfaces allow for ease of use and high mobility, while the architecture is scalable, allowing clinically relevant information to be easily accessed by multidisciplinary care teams in multi-site organizations. Its intuitive user-friendly interface streamlines resident assessments and reporting, providing a powerful, integrated web-based solution for the capture and transmission of assessment data.
Functionality includes:
- Patient centered assessments
- Capture and transmission of healthcare data quality reporting
- Comprehensive security and privacy framework
- Web-based admin interface and user dashboard
- Audit trail details all activity
- Advanced authentication and software update
- Comprehensive real-time reporting
The Market Opportunity:
BCC estimates the U.S. healthcare IT market size at $16.38 billion in 2005. By 2011 it is expected to reach $34.7 billion in sales, a 13.4% AAGR. The hospital segment accounts for the larger portion of the market with 52.2% of sales in 2005, 51.4% in 2006 and 48.2% in 2011. The Physician/ home care/ nursing/ hospices sector will overtake hospitals by the end of the forecast period and will be worth 51.3% of the U.S. market by 2011. The highest growth appears in physicians, home care, nursing homes, and hospices. The market for this sector of the industry was worth more than $7.7 billion in 2005. By the end of 2006 it will grow to almost $8.9 billion and, at an AAGR of 15.0%, reach more than $17.8 billion by 2011.
The Value Proposition:
Looking forward, ICT will contribute significantly to the revenue, growth and competitiveness of a corporate partner, as it provides these significant strategic assets:
- Cutting edge, “First to” technology
- A product roadmap that incorporates customer requirements and feedback gleaned through 9 years of market presence
- Deep domain expertise in Healthcare Solutions
- Impressive reference accounts in the Healthcare sector
- An attractive revenue model of base license fees plus recurring subscription fees, complemented by professional services revenue
- A brand that is the recognized leader in the Healthcare Reporting and Assessment sector