The Quantum Group Licenses Leading Technology
March 19 2007 - 1:00PM
PR Newswire (US)
Electronic Health Record Services added to Quantum Medical
Technology Solutions WELLINGTON, Fla., March 19
/PRNewswire-FirstCall/ -- The Quantum Group, Inc. (OTC:QTUM)
(BULLETIN BOARD: QTUM) (http://www.qtum.com/) announced today that
its subsidiary, Quantum Medical Technologies, Inc.
(http://www.quantummedical.com/), has introduced its latest cutting
edge solution to improve patient wellness and medical practice
efficiency. This new product is a web-based Electronic Health
Record (EHR) developed by a combination of experienced physicians,
technology experts and healthcare administrators. Quantum President
and CEO Noel J. Guillama commented, "We are adding this new
solution to our system of physician-centric services entitled
"Q-Care" (SM), which are designed to provide physicians with
additional time and cost saving benefits. The Electronic Health
Record will be a key component in providing quality patient care as
it allows healthcare providers to access one comprehensive source
to share and research information regarding a particular
individual." The Quantum EHR is an Application Service Provider
(ASP), licensed by the Company, designed to meet the
interoperability requirements established by the Certification
Commission for Healthcare Information Technology (CCHIT) and the
Continuity of Care Records (CCR). This internet-based solution
significantly reduces the initial costs of set up, training, and
operating costs. Compared to in-house, server-based EHR systems,
this ASP-based EHR removes expenses associated with obsolescence,
expensive upgrades and maintenance. There are no up front costs to
the physician under the Quantum program. A complimentary component
of the EHR is its ability to fully integrate with the medical
claims processing and collection system of The Quantum Group
subsidiary, QMed BILLING, Inc. (http://www.qmedbilling.com/). The
combination of these solutions potentially provides the physician
with significant savings in time and cost. The use of both
solutions by the medical practice will facilitate the electronic
exchange of billing information from the EHR to the QMed BILLING
system in real time, thus reducing the overall time it takes to
process and collect the claim. The Quantum Group, based in
Wellington, Florida, is one of Florida's largest community based
healthcare provider systems. In conjunction with its subsidiary
companies, Renaissance Health System of Florida, Inc. (RHS)
(http://www.rhsfl.com/) and QMed BILLING, Inc.
(http://www.qmedbilling.com/), Quantum provides administrative and
support services to the Florida managed care industry as well as to
the physicians of Florida. Through our growing number of nearly
1,300 contracted physicians and multiple managed care relationships
in the state of Florida, we are strategically positioned to bring
increased efficiencies to the over $100 billion Florida healthcare
industry. According to an article published in the August 22, 2006
edition of the New York Times (By Gina Kolata), "By 2030, predicts
Robert W. Fogel, a Nobel laureate at the University of Chicago
Graduate School of Business, about 25 percent of the G.D.P. will be
spent on health care, making it 'the driving force in the economy,'
just as railroads drove the economy at the start of the 20th
century." 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, 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,
expectations, representations 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 substantial and immediate
additional capital to implement its continuing business model, the
ability to attract and retain personnel - including highly
qualified executives, management and operational personnel, ability
to negotiate favorable current debt and future capital raises,
ability to manage the care of its patients with reasonable medical
loss ration, ability to negotiate beneficial managed care
agreements with a diversified and expanding provider base, continue
to supply the services needed by the HMO clients as well as the
growing list of physician clients 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 press release
will, in fact, occur. Media Contact: Danielle Amodio Vice
President, Corporate Communications The Quantum Group, Inc.
561.798.9800 DATASOURCE: The Quantum Group, Inc. CONTACT: Danielle
Amodio, Vice President, Corporate Communications of The Quantum
Group, Inc., +1-561-798-9800
Copyright