HUNTINGTON BEACH, Calif., Nov. 21 /PRNewswire-FirstCall/ -- Quintek Technologies, Inc. , a global provider of Business Process Outsourcing (BPO) and best-of-breed technology consulting services, today announced that its QSI division has entered into a partnership with Manhattan Data, Inc. (MDI), an offshore provider of BPO services. The two companies plan to work together to target and penetrate the trillion dollar US healthcare industry with an end-to-end outsourced services solution.
The solution will leverage each company's core competencies. MDI has expertise in delivering insurance forms processing, including: enrollment, eligibility, encounter data, medical claims forms processing (including HCFA 1500, UB92 and dental claims), creation and maintenance of eligibility and provider databases, corporate call center functions such as inbound and outbound and telemarketing calls. QSI's core competencies focus on workflow automation, high-speed scanning, inbound mailroom outsourcing, data capture and ASP hosting of images. Together, these competencies create an end-to-end solution that will help healthcare companies deliver quality service while reducing costs, resulting in increased profitability.
Robert Steele, Quintek CEO stated, "This is a strong opportunity for growth for QSI and MDI. Healthcare claims processing is an enormous market. We have sized the addressable portion of this market for the services QSI offers to be approximately $1.5 billion. This figure is generated from the estimated 15 billion claims filed in 2004 at an average of price of $.10 per claim." He added, "The portion of this market that MDI addresses makes the opportunity even larger, and allows us to bring to the market a deliverable end-to-end solution with a key partner."
About Manhattan Data, Inc.
Manhattan Data, Inc. (MDI) is an ISO 9001 certified/HIPAA compliant expert provider with proven experience in meeting healthcare outsourcing needs. With offices located in Irvine, California, and a state-of-the-art offshore service center in Asia, MDI's team works around the clock to deliver the very best in customized solutions. In addition to cost savings, MDI leverages an available English-speaking, college-educated offshore workforce, a modern IT infrastructure, and time zone differences to ensure the quality, reliability, security, and scalability of a client's outsourced operations.
For more information, visit www.manhattandatainc.com
About Quintek Technologies, Inc.
Quintek Technologies, Inc. , through its wholly owned subsidiaries Quintek Services, Inc. (QSI), and Sapphire Consulting Services, Inc., provides services to enable Fortune 500 and Global 2000 corporations to reduce costs and maximize revenues.
QSI delivers Business Process Outsourcing (BPO) services and solutions that enable companies to secure and manage their key data processing demands with optimal efficiency and minimal costs. As a next-generation technology company, Quintek is unhindered by outdated information technology systems, and thus is able to deploy best-of-breed solutions in all aspects of BPO. The Aberdeen Group, a provider of IT market intelligence, forecasts 13% annual growth for the BPO industry through 2005, when the market is projected to reach $248 billion.
Sapphire Consulting Services, Inc. offers a broad range of supply chain management consulting services. Sapphire assists organizations to create a higher level of customer satisfaction, enhance supply chain capability and achieve consistent competitive advantage through reduced product cost, reduced inventory investment and improved supply chain security. A study by IDC found the SCM services market will expand from $26.1 billion in 2002 to $40.5 billion in 2007, representing a five-year compound annual growth rate (CAGR) of 9.2%
For more information, visit http://www.quintek.com.
This press release contains forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), including statements regarding potential sales, the success of the company's business, as well as statements that include the word "believe" or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Quintek to differ materially from those implied or expressed by such forward-looking statements. Such factors include, among others, the risk factors included in Quintek's Annual Report on Form 10-KSB for the fiscal year ended June 30, 2004 and any subsequent reports filed with the SEC under the Exchange Act. This press release speaks as of the date first set forth above and Quintek assumes no responsibility to update the information included herein for events occurring after the date hereof. Actual results could differ materially from those anticipated due to factors such as the lack of capital, inability to timely develop of products or services, inability to deliver products or services when ordered, inability of potential customers to pay for ordered products or services, and political and economic risks inherent in domestic and international trade.
CONTACTS: Quintek Technologies, Inc. Andrew Haag Chief Financial Officer (714) 848-7741, Ext. 14 ahaag@quintek.com Communications: Cinapsys, Inc. Mark Moline (760) 458-4899 mark@cinapsys.com
Quintek Technologies, Inc.CONTACT: Andrew Haag, Chief Financial Officer of Quintek Technologies,Inc., +1-714-848-7741, ext. 14, ahaag@quintek.com; or Communications, MarkMoline of Cinapsys, Inc., +1-760-458-4899, mark@cinapsys.com, for QuintekTechnologies, Inc.
