WELLINGTON, Fla., Feb. 14 /PRNewswire-FirstCall/ -- The Quantum Group, Inc. (BULLETIN BOARD: QTUM) announced today that its subsidiary Renaissance Health Systems of Florida has completed building its first fully integrated Community Healthcare System (CHS). The CHS was completed in a Central Florida county, at the request of a Managed Care Organization (MCO) partner. This new CHS was designed specifically for the new Medicare Advantage program in support of the Center for Medicare Services’ (CMS) initiative to provide more healthcare options to seniors.
“We are pleased that after extensive work by our staff, partners and affiliates, we have successfully completed our first CHS, and are looking forward to expanding to an additional six counties over the coming months,” commented Noel J. Guillama, president of The Quantum Group. He further remarked, “We are not only elated to have built this network, we are proud to have affiliated with the best and brightest in our community.”
Quantum, with its MCO partner, expects to begin offering a new Medicare Advantage benefit package after government approval later this year. Once the product is approved and marketing is commenced, the company anticipates that this market has a $10,000,000 revenue potential in 2006.
A Community Health System is composed of a fully integrated network of physicians, providers of ancillary care, hospitals and support organizations, all in a limited geographic area to provide the best possible coordination of care with efficiency. It also includes protocols, communications and technology to help reduce redundancy, waste and ineffective care.
Through a news release on October 6, 2004, Health & Human Services (HHS) Secretary Tommy G. Thompson announced, “The new Medicare Modernization law is expanding healthcare for seniors and lowering their costs ... Under President Bush’s leadership, we are reversing a trend of seniors losing access to Medicare Advantage plans each year to an environment where plans are expanding coverage and lowering costs.”
On December 8, 2003, President Bush signed into law the Medicare Prescription Drug, Improvement and Modernization Act (MMA) of 2003. With the new enhanced payments to manage care organization it has been estimated by the Center for Medicare Services that the number of people enrolling in the Medicare Advantage program will increase by 300% over the next 4 years.
The mission of Renaissance Health Systems (RHS), a division of the Quantum family of companies, is to provide quality, proactive, and cost-effective healthcare to our patients while simultaneously improving their quality of life and lifestyle.
The Quantum Group, Inc. is a Wellington, Florida-based healthcare company, providing outsourcing, technology-based solutions, government compliance, education, policy consulting and venture management to the healthcare industry. Quantum is currently involved in: outsourcing for physicians, managed care organizations, healthcare facilities, and physician associations; developing three patent-pending healthcare solutions identified as Cybernaptics(SM), Quantum Quotient(SM) (or QX2(SM)) and MDAutomated(SM), all with the intention to provide new efficiencies to the $1.79 trillion U.S. healthcare system; and providing leading-edge healthcare services to consumers. The Quantum Group -- healthcare solutions for a new generation(SM).
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 uncertainties and risks in part detailed in the respective company’s Securities and Exchange Commission 10-K, 10-Q, S-8 and 8-K filings, that may cause actual results to materially differ from projections. Although the company believes that its expectations are reasonable assumptions within the bounds of its knowledge of its businesses and operations; there can be no assurance that actual results will not differ materially from their expectations. Important factors currently known to management that could cause actual results to differ materially from those in forward-looking statements include the company’s ability to execute properly its new business model, to raise additional capital to implement new business model, the ability to attract and retain personnel, and the inherent risk associated with a diversified business to achieve positive cash flow. In light of these risks and uncertainties, there can be no assurance that the forward-looking information contained in this report will, in fact, occur.
Media Contact: Danielle Amodio Director of Corporate Communications The Quantum Group, Inc. 561.798.9800
The Quantum Group, Inc.
CONTACT: Media, Danielle Amodio, Director of Corporate Communications,The Quantum Group, Inc., +1-561-798-9800
Web site: http://www.thequantumgroupinc.com/