Quantum Secures Definitive Contract With Florida HMO
06 Aprile 2005 - 5:42PM
PR Newswire (US)
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/
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