WELLINGTON, Fla., March 25 /PRNewswire-FirstCall/ -- The Quantum Group, Inc. (NYSE Amex: QGP) (www.QuantumMD.com) announced it has implemented a reallocation of people and resources from other Company operations to advance the PWeR(TM) (pronounced POWER) platform. As Quantum continues to set the foundation for the explosive growth potential the Company expects for the PWeR platform, it has shifted its structure to allow for this growth.
PWeR (Personal Wellness electronic Record) is the healthcare information technology platform developed and deployed by the Company. PWeR meets and exceeds the guidelines set forth from Washington to implement electronic health records, and the platform is currently being utilized by more than 75 providers since the Fall of 2008.
The most significant aspect of the reallocation was a tactical move to create a very experienced and well-trained PWeR sales team with established provider relationships. There have been early indications of eager acceptance of PWeR from the industry. To achieve this objective, several Provider Specialists from Quantum subsidiary company Renaissance Health Systems have been transitioned to PWeR Team Specialists.
"The implementation of technology to address the lack of interconnectivity and communication in the healthcare industry has been a principle mission of our Company since inception. PWeR is patient-centric and combines all of the features and applications needed by payers, healthcare providers and hospitals into one dynamic system," said Noel J. Guillama President of The Quantum Group. He further commented, "PWeR is an IBM hosted solution that is web-based and designed to address the privacy, security and scalability necessary for national and global deployment. PWeR is low cost, easy to implement and offers a 360 degree view of a patient record. The industry is beginning to transform as a result of a federal mandate to reduce costs, increase efficiencies and improve the quality of patient care. We are excited by the possibilities ahead with PWeR."
The Stimulus Package (American Recovery and Reinvestment Act of 2009) has designated $19.2 billion to promote and expand the use of technology in the U.S. healthcare industry to improve the quality of patient care and reduce costs.
Ronald S. Smith, Senior Vice President and Chief Development Officer, has been charged with leading the new team of PWeR Specialists. Smith commented, "The new PWeR Team Specialists have personally established relationships with many of the 2,000 plus providers currently affiliated with Renaissance. They will now be able to expand their reach into larger geographical areas as they work hand in hand with their Renaissance Provider Specialist counterparts and co-market the Renaissance opportunity. This is a natural progression that we believe will yield great results for both Renaissance and PWeR. We have also adjusted support personnel at every level of the organization to provide the support services that PWeR will require for an effective industry deployment."
Guillama held a conference with employees of The Quantum Group to explain the reallocation and to elaborate on the business plans for PWeR. He noted that the Quantum team is comprised of the most talented, dedicated and innovative people he has had the pleasure of working alongside. Guillama noted that the Company-wide efforts used to establish Renaissance have provided the footprint for the new emphasis on PWeR. "Renaissance is performing as it was designed to do and has formed the foundation of our Company. Now we are continuing to build as we turn our emphasis toward establishing PWeR. We expect Renaissance to continue growing and serving the approximately 2,000 affiliated providers and multiple payers we have contracted."
The Company expects to provide financial projections on potential sales and expansion in the coming months as preliminary results are accessed.
About The Quantum Group, Inc.
The Quantum Group is an innovation-driven Healthcare Services Organization (HSO) that provides business process solutions, service chain management, strategic consulting and leading edge technology to the healthcare industry.
Quantum has developed and deployed PWeR(TM), a cutting-edge, patent-pending healthcare technology platform that has been designed to bridge the gaps of communication and exchange of patient information throughout the healthcare industry. PWeR can integrate all of the functions a physician/provider, hospital, clinic and related professionals utilize in one patient-centric, web-based platform and falls well within the economic incentives offered by the new $19 billion Stimulus Package for healthcare information technology. We believe we are positioned to be a catalyst for change as we take aim at the $700 billion inefficiency gap in the United States healthcare industry.
About PWeR (Personal Wellness electronic Record)
For more information visit www.myPWeR.com.
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, SB-2, S-1 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" "could" 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 continue revenue growth trend in fiscal year 2009, to control patient medical cost relative to income received, to attract and retain executive, management and operational personnel, to continue growing its patient base, 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 as physician clients. We have further risk in the deployment of our technology platform, the utilization by our clients, technical and software setbacks, cost of development, as well as the capital to deploy it. We are subject further to interruptions of service. Company does not undertake any obligation to publicly update any forward-looking statements. As a result, investors should not place undue reliance on these forward-looking statements.
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|SOURCE The Quantum Group, Inc.|
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