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Community Health Systems 'Go Live' in Three Florida Counties
WELLINGTON, Fla., Jan. 17 /PRNewswire-FirstCall/ -- The Quantum Group, Inc. (OTC:QTUM) (BULLETIN BOARD: QTUM) ( http://www.qtum.com/ ) announced today that with the acceptance and treatment of its first health plan members in the fourth quarter of 2005, the Company has begun to formally generate revenues. Through its subsidiary, Renaissance Health System of Florida, Inc. (RHS) ( http://www.rhsfl.com/ ), the Company has developed three Community Health Systems (CHS) that are currently managing the care of patients in three Florida counties.
QTUM President and CEO Noel J. Guillama commented, "The entire Company is thrilled with the progress made by our Provider Specialist team in launching these three Community Health Systems." Guillama, citing a recent statistic published in The New York Times that indicated that 78 million baby boomers will begin retiring in the next five years, continued, "Through strategic relationships that are established with HMO partners, we are well-positioned to be a leader in providing the healthcare needed for our baby-boomer population."
The healthcare industry represents over $100 billion in Florida -- making it the largest industry in the state. The Department of Health and Human Services (HHS) announced that healthcare spending shot up 6.3% in 2004, to a total of $1.9 trillion. That figure represents an average of over $6,280 per person in the United States. Further, Medicare spending increased 8.9% to a record high of $309 billion in 2005. With the aforementioned baby-boomer retirement surge leading the charge, Medicare Advantage growth is projected to increase nearly 100% over the next four years.
The generation of revenues has propelled the Company from its development phase to its current operational stage. Guillama, a nationally recognized healthcare expert, is confident in the team that has been put in place to take the Company to the next level. "Our Company has gone to great lengths to find some of the most talented professionals in the healthcare industry. Each employee of our Company becomes an Equity Owner upon hire. We believe in instilling pride and passion in our employees by empowering them with a sense of ownership. As the Company succeeds, the rewards are multi-faceted, thereby leading to increased employee satisfaction. Our team is personally vested in the success of 'their' Company." According to Guillama, that has been a vital component towards the passion, excellence and dedication of the team -- and most importantly towards the success of the Company thus far.
The Quantum Group has a highly aggressive plan in place for its continued growth through its Community Health Systems, as well as its own planned outsourcing services for physicians. "The opportunities to cross-market and promote amongst our affiliated Providers is significant," Guillama commented. "The Company is positioned to be a total solutions provider. Healthcare is such a highly fragmented industry, and Quantum is poised to provide value- added services physicians require, all under one organization."
The mission of The Quantum Group is "to provide solutions to physicians, to achieve cost reduction for organizations, and to improve the lifestyle and healthcare of our Patients by using new systems, more efficient processes and emerging technologies."
The Quantum Group, Inc. (QTUM) ( http://www.qtum.com/ ) 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; and providing leading-edge healthcare services to consumers. The Quantum Group -- "healthcare solutions for a new generation."(SM)
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
Vice President Corporate Communications
The Quantum Group, Inc.
561.798.9800
DATASOURCE: The Quantum Group, Inc.
CONTACT: Danielle Amodio, Vice President Corporate Communications, The
Quantum Group, Inc., +1-561-798-9800
Web site: http://www.qtum.com/
http://www.rhsfl.com/