Signs first statewide contract
WELLINGTON, Fla., July 8 /PRNewswire-FirstCall/ -- The Quantum Group (Amex: QGP) (http://www.QuantumMD.com) has announced that Renaissance Health Systems, a Quantum subsidiary company, has executed a contract covering the state of Florida, with a new statewide payer (health plan) partner. Historically, Renaissance has contracted with payers on a county by county basis. This new contract encompasses all 26 counties in Florida where Renaissance has established Community Health Systems (CHS) -- a term the Company has adopted to refer to the network of healthcare providers affiliated with Renaissance in each county. In addition, the contract provides for the continual expansion of the partnership as Renaissance builds Community Health Systems throughout the state.
Noel J. Guillama, President & CEO of The Quantum Group, commented, "This statewide contract marks a significant milestone in our development. Major payers in the state of Florida are taking note of the solid infrastructure we have established in Florida with our 2,000-plus affiliated providers. We strategically built the footprint of this Company to include statewide growth opportunities for health plans already in Florida and for those wishing to begin operations here. Our model has been validated as we now have eight payer partners utilizing our 26 Community Health Systems."
Guillama continued, "We are pleased by this progress and expect that we will remain on track to reach our projected 2,500 affiliated providers and 5,000 patients under management by the end of this calendar year. We further anticipate that we will have developed an additional 6 counties by the end of the year marking 32 Community Health Systems."
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 approximately 2,000 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 execute additional contracts with payers, to expand the CHS
network, 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:
PR Financial Marketing
Jim Blackman: 713-256-0369
Vice President Corporate Communications
The Quantum Group, Inc.
|SOURCE The Quantum Group|
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