WELLINGTON, Fla., May 13 /PRNewswire-FirstCall/ -- The Quantum Group (Amex: QGP) today announced that its subsidiary, Renaissance Health System of Florida, Inc., has expanded its relationship with one of its HMO partners in South Florida to include the use of its Community Health System. This expanded relationship will allow Renaissance to extend medical care to the HMO's Medicaid patients. The contract will initially cover South Florida, which has over 740,000 Medicaid beneficiaries. Quantum expects to deploy a similar model in other areas and with additional payers going forward.
Noel J. Guillama, President and CEO of The Quantum Group commented, "When we set out to build the largest independent Community Health System in the State of Florida, we anticipated that we would one day expand to Medicaid and eventually to commercial/employer-based products. With a well-established network of providers and a service area covering 26 counties, the time has come to expand our scope."
Mr. Guillama added, "We designed this organization to be able to adapt to changes in a constantly shifting industry. Our goal is to bring innovation to everything we do and leverage this innovation and forward thinking to reduce the inefficiencies that are inherent in healthcare delivery systems, no matter who the payer is. After a year of preparation, we are ready for this expansion."
About The Quantum Group, Inc.
The Quantum Group provides business process solutions, service chain management, strategic consulting and leading edge technology innovations to the healthcare industry.
Through our dynamic patient-centric architecture, we empower the communication that is critical for the coordination of care and take aim at the $600 billion inefficiency gap in the United States healthcare industry. We are guided by a mission to develop efficiencies, improve the quality of patient care and achieve cost reductions for the nation's largest and fastest growing industry.
We have developed leading-edge technology with the creation and deployment of a series of innovative patent-pending initiatives. Through 1,900+ healthcare providers and multiple insurance company relationships under management, we are positioned to be a catalyst for change 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 as well as the Company's ability to expand upon this first contract
to other geographical areas and other payers in the future. 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:
PR Financial Marketing
Jim Blackman: 713-256-0369
Vice President Corporate Communications
The Quantum Group, Inc.
|SOURCE The Quantum Group, Inc.|
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