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OBRA e-z, Inc. produces a
program that collects and reports all the critical elements of data
required for governmental reporting purposes.
The
software is user friendly, produces far better reports than most of the
popular
programs in use, and inexpensive ($500 license fee, $125 per month
maintenance).
OBRA e-z is continually acquiring new
customers:
OBRA e-z proposes to upgrade
its software to operate by adding significant
functionality, incorporating additional features from acquired
companies,
strategic alliances, and business partners, and retaining its ease of
use and
superior reporting processes to create OBRA e-z’s Enterprise
Software Solution,
a total software solution to manage every business detail of the
long-term care
provider.
The Enterprise Software Solution
will be far superior to anything
on the market today and cost a fraction of what other programs are
selling for.
The average license fee will be about $1,000
and the average monthly
maintenance about $500.
The population is aging, and more and
more people are
living longer, and it will continue that way for decades to come.
This has created a dynamic and growing market
for the long-term care
provider, and one in which virtually thousands of data elements are
collected,
reported, analyzed, and used for information to provide adequate
continuing
care, support governmental reimbursement expenses, manage inventories
and
financial budgets, track pharmaceuticals, and many other uses.
There are approximately 18,000 long-term care
providers in the US, and
each must dedicate countless hours to collecting and recording this
data.
Software developers have created
programs to capture most
of the data. Many
of the programs
that function adequately are very expensive; the software licenses cost
from
$10,000 to $15,000 and monthly maintenance fees range from $1,000 to
$1,500.
Some of the programs are less expensive, but
have limitations in
functionality and ease of use.
Ken Smitzhe will serve as President and Chief Executive
Officer. With more
than ten years of corporate experience in sales, marketing, management
and
long-term care, Mr. Smitzhe is a visionary
OBRA e-z, Inc. will be operated by
Ken Smitzhe who has over ten years experience in the long-term care
provider field,
and over ten years of sales, marketing and management experience.
Mr. Smitzhe will be joined by professionals in
the healthcare and
software development industries.
OBRA e-z is seeking $750,000 to
support working capital
requirements to upgrade its software, establish its offices and
payroll, and run
its sales and marketing campaigns.
No
additional funds will be required, and it is expected that the entire
investment
will be recovered in less than two years.
We believe we can capture at least 10% of the
long-term care
provider market during the next five years; however, our pro
forma
projections conservatively estimate a capture of less than 6% of the
market over
the next five years will generate over $7,000,000 in current assets
(cash and
accounts receivable) by the end of year 5.
Our objectives are as follows:
1.
Complete software upgrade by December 31,
2001.
2.
Convert existing customer base (estimated to
be 125) to upgrade by June
1, 2002.
3.
Solicit new customers from the approximately
7,200 long-term care
providers with no or inadequate information systems.
Target penetration:
35%-65%.
4.
Solicit new customers from the approximately
7,200 long-term care
providers using expensive software solutions.
Target penetration:
25%-50%.
5.
Solicit new customers from the approximately
3,600 long-term care
providers using "mid-market" quality software.
Target penetration:
35%-65%.
OBRA e-z
is a software development and customer support company that produces
high quality, value-added, feature enriched, user-friendly software and
delivers
real-time customer support and management know how to the long-term
resident
care market. OBRA e-z software collects government standard
Minimum Data
Set (MDS) 2.0 criteria, scheduling information, survey information for
government audits, quality indicator information, care-plan and
financial
program information, and generates real-time management information
reports and
data sets to efficiently manage long-term care facilities and
electronically
transmit MDS 2.0 information to state governments. Our
mission is to
provide these services to our customers at a cost far below the cost
savings
they will achieve.
The keys to success for OBRA e-z are:
1.
Investment capital to upgrade software to
Windows environment and add
functionality to enrich features, increase functionality, and deliver a
value-added product that produces cost savings for customers that far
exceed the
product cost.
2.
Aggressive marketing to introduce long-term
care providers to the
significant cost/benefit advantages of OBRA e-z.
3.
Product quality, ease of use, world-class
customer service and support.
4.
Price competitiveness.
OBRA e-z, Inc. is a Subchapter S
Corporation engaged in the
development, sale, service and maintenance of software solutions for
the
long-term care market.
OBRA e-z’s President and Chief
Operating Officer,
Ken Smitzhe owns 30% of the shares.
The
remaining shares are owned by Tod Smitzhe (20%), Chief Financial
Officer, Susan
Smitzhe (20%), Director of Operations, Tad Smitzhe (20%), Director of
Product Development, and Betty Smitzhe, (2%), Director of Product
Development – Master Link. 8%
of
the stock is held by the corporation.
Spectrum Health Services developed
the OBRA e-z software in
1986 to address the needs of long-term care facilities to maintain a
computer
based medical records system that integrated with early versions of the
MDS and
survey reports. In
later years when
HCFA revised MDS 1.0 to MDS 2.0, Spectrum upgraded the OBRA e-z
software to
comply with MDS 2.0 specifications and improve functionality.
Spectrum sold all rights to the software to an
investment group in May
2000. The
investment group formed
the Subchapter S Corporation, OBRA e-z, Inc. in January 2001.
OBRA e-z, Inc. has since increased
the customer base from
16 to 69 licensed customers. Plans are underway to upgrade the
DOS-based
software to the Windows platform and add significant functionality that
will
create the “Enterprise Software Solution” that will
be a total
turnkey system for the management of long-term care facilities.
OBRA e-z, Inc. has corporate offices
in Stamford Connecticut and an operations satellite help desk in Macon,
Georgia.
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