Announces business plans for patient recruitment for the balance of the
WELLINGTON, Fla., April 3, 2008 /PRNewswire-FirstCall/ -- The Quantum Group, Inc. (Amex: QGP, QGP.WSA, QGP.WSB) (http://www.QuantumMD.com) announced today that, following an open enrollment period instituted by The Centers for Medicare and Medicaid Services (CMS), the Company's subsidiary, Renaissance Health Systems, increased its enrolled Medicare Advantage base to 2,240 and is on track to reach a projected 5,000 enrollments by December 31, 2008.
During the CMS open enrollment period, which runs from November 15th through March 31st of each year, Medicare-eligible patients are allowed to choose or switch health plans. Patients who come of eligible age for Medicare or Medicaid during the balance of the year as well as those who become eligible to receive both Medicaid and Medicare benefits or are eligible for special needs waivers, are able to select a plan year round.
Noel J. Guillama, President and CEO of The Quantum Group, stated earlier this week that the Company plans to continue recruitment of Medicare eligible individuals for the remainder of the year. Mr. Guillama said, "The state of Florida welcomes new residents by the thousands each month, many of which are Medicare-eligible and looking to retire in the Sunshine State. We will continue to work with our HMO partners to pursue marketing initiatives geared to the newly Medicare eligible, those who are receiving both Medicare and Medicaid benefits as well as those with special needs waivers."
Guillama continued, "We are also in discussions with our HMO partners to cultivate new or transferred providers and/or patient assignments who are already enrolled in Medicare Advantage plans with each respective HMO.
"Our strategy is on track to focus on the continued growth of our provider base and enhancement of our relationships with our HMO partners during the closed enrollment season. Further, we look forward to the anticipated rollout of several of our most exciting outsourcing services and products geared to increase the efficiency and effectiveness of healthcare providers later this year - particularly our previously announced dynamic technology platform initiative."
Referring to the continued expansion of affiliated healthcare providers, Barbara Roqueta, Senior Vice President of Provider Operations, stated, "We have enjoyed the ongoing growth of our provider base. We are on track to reach our projected goal of 2,500 providers by the end of this calendar year. We have established Community Health Systems in 26 counties and are engaged in an expansion to establish our presence in an additional six counties this calendar year."
About The Quantum Group, Inc.
The Quantum Group is a Florida-based organization that builds and manages healthcare systems and offers consulting and outsourcing services to the nation's largest and fastest growing industry - healthcare.
The Company is leveraging leading-edge technology with the development and execution of a series of innovative patent-pending technology initiatives designed to make Quantum one of the state's leading providers of business solutions for the healthcare industry. Through its growing number of over 1,800 contracted healthcare providers and managed care relationships in the state of Florida, the Company believes it is positioned to bring increased efficiencies to the Florida healthcare industry.
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
substantial uncertainties and risks in part detailed in the respective
company's Securities and Exchange Commission 10-KSB, 10-QSB, S-8 and 8-K
filings (and amendments thereto) that may cause actual results to
materially differ from projections. Forward-looking statements can be
identified by the use of words such as "expects," "plans," "will," "may,"
"anticipates," "believes," "should," "intends," "estimates" and other words
of similar meaning. These statements are subject to risks and uncertainties
that cannot be predicted or quantified and, consequently, actual results
may differ materially from those expressed or implied by these
forward-looking statements. Such risk factors include, without limitation,
the ability of the Company to properly execute its business model, to raise
substantial and immediate additional capital to implement its business
model, to attract and retain executive, management and operational
personnel, to negotiate favorable current debt and future capital raises,
to negotiate favorable agreements with a diversified provider base and to
continue to supply the services needed by its HMO clients as well physician
clients. The Company does not undertake any obligation to publicly update
any forward-looking statements. There can be no assurance that the
provisional patents discussed in this press release will be granted by the
US Patent and Trademark Office, or, if they are granted, they will not be
challenged by third parties, or if not that we will be able to effectively
use or commercialize such patents and/or we may not have the resources to
deploy such technology. As a result, investors should not place undue
reliance on these forward-looking statements.
FOR MORE INFORMATION, PLEASE CONTACT:
BPC Financial Marketing
Vice President Corporate Communications
The Quantum Group, Inc.
|SOURCE The Quantum Group, Inc.|
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