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Quantum Secures Definitive Contract With Florida HMO
WELLINGTON, Fla., April 6 /PRNewswire-FirstCall/ -- The Quantum Group, Inc.
(OTC:QTUM) (BULLETIN BOARD: QTUM) announced today that its subsidiary,
Renaissance Health Systems of Florida, Inc. (RHS), has reached another plateau
in its mission to build a comprehensive network that effectively and
efficiently manages the healthcare of Medicare Advantage patients. The Company
has executed a definitive contract with a Florida HMO to manage patient care
through its revolutionary Community Health System (CHS) model.
The Company advised that this new contract is expected to begin generating
revenues within the next quarter starting May 1, 2005, and is expected to
quickly escalate throughout the year and into 2006. The contract provides RHS
with a specific monthly amount to provide all the services required for the
Medicare Advantage members of this Florida HMO. This arrangement compensates
RHS for the quality and effectiveness of care.
Recently, the Company announced that it has been building its Community Health
System in Florida and has contracted with nearly 200 providers to date. This
new CHS is designed specifically for the new Medicare Advantage program in
support of the Center for Medicare Services' (CMS) initiative to provide more
healthcare options to seniors. The Company anticipates that it will have
contracted with 700-800 providers by year's end.
"After two years of planning and an extensive nine-month deployment, we are all
excited to have reached another milestone in our development," commented Noel
J. Guillama, President and CEO of The Quantum Group, Inc. He further stated,
"With our integrated approach to wellness, the Company is positioned as a
comprehensive resource that provides solutions to physicians, employs cost
reduction strategies for organizations and most importantly improves upon the
overall quality of care to patients."
The future expansion plans of Renaissance entail providing care throughout the
state of Florida. Mr. Guillama stated, "The Company is in discussions with
additional HMOs to expand our coverage state-wide. The demand for additional
options and access to healthcare stretches well beyond the borders that
encompass our current initiatives. Our mission is to be a 'total solutions
provider'; expansion represents a key aspect in that directive."
The Quantum Group, Inc. is a Wellington, Florida-based healthcare company,
providing outsourcing, technology-based solutions, government compliance,
education, policy consulting and venture management to the healthcare industry.
Quantum is currently involved in: outsourcing for physicians, managed care
organizations, healthcare facilities, and physician associations; developing
three patent-pending healthcare solutions identified as Cybernaptics(SM),
Quantum Quotient(SM) (or QX2SM) and MDAutomated(SM), all to provide new
efficiencies to the $1.8 trillion U.S. healthcare system; and providing
leading-edge healthcare services to consumers. The Quantum Group --
"healthcare solutions for a new generation." (SM)
Renaissance Health Systems has developed a new model for the benefit of
patients, providers and insurers alike -- the Community Health System or CHS.
In a CHS, the patient is recognized as a true consumer of healthcare services.
Patients are engaged to actively work along side their physician in pursuit of
their improved healthcare lifestyle. This tandem approach to a patient's health
benefits the insurer, the physician and most importantly, the patient as it
emphasizes a proactive approach to wellness. The mission of Renaissance Health
Systems (RHS) is to provide quality, proactive and cost-effective healthcare to
our patients while simultaneously improving their quality of life and
lifestyle.
Certain statements contained in this news release, which are not based on
historical facts, are forward-looking statements as the term is defined in the
Private Securities Litigation Reform Act of 1995, and are subject to
uncertainties and risks in part detailed in the respective company's Securities
and Exchange Commission 10-K, 10-Q, S-8 and 8-K filings, that may cause actual
results to materially differ from projections. Although the company believes
that its expectations are reasonable assumptions within the bounds of its
knowledge of its businesses and operations; there can be no assurance that
actual results will not differ materially from their expectations. Important
factors currently known to management that could cause actual results to differ
materially from those in forward-looking statements include the company's
ability to execute properly its new business model, to raise additional capital
to implement new business model, the ability to attract and retain personnel,
and the inherent risk associated with a diversified business to achieve
positive cash flow. In light of these risks and uncertainties, there can be no
assurance that the forward-looking information contained in this press release
will, in fact, occur.
Media Contact:
Danielle Amodio
Director of Corporate Communications
The Quantum Group, Inc.
561.798.9800
DATASOURCE: The Quantum Group, Inc.
CONTACT: Media, Danielle Amodio, Director of Corporate Communications,
The Quantum Group, Inc., +1-561-798-9800
Web site: http://www.thequantumgroupinc.com/