QMed, Inc. Reports Enrollments in Medicare Special Needs Plans
January 18 2007 - 10:45AM
PR Newswire (US)
EATONTOWN, N.J., Jan. 18 /PRNewswire-FirstCall/ -- QMed, Inc.
(Nasdaq Symbol: QMED) today reported on early enrollments in its
South Dakota and New Jersey Medicare Advantage Special Needs Plans
(SNPs). Jane Murray, QMed president, said, "Enrollment into our
Special Needs Plans during the initial marketing period, November
15th through December 31st 2006, exceeded projections for South
Dakota and were somewhat lower than expected for New Jersey.
Through December 31st, we added more than 1,400 new South Dakota
members, bringing its total to approximately 1,700, including the
members from 2006 who remained with the plan. We have long held the
view that SD would have accelerated enrollment at the January '07
start date and we are extremely pleased with the market receptivity
to our program offering. Meanwhile, we enrolled just over 100
members in New Jersey, a new and large market for us and, we
believe, one with growing visibility." "We expect that as the year
progresses, monthly enrollment for New Jersey will grow, driven by
continued expansions in our physician and broker networks, as well
as by the sheer size and dynamics of our current New Jersey service
area. Overall, we remain confident with our revenue guidance for
the 2007 SNP segment of our business and we will keep investors
informed on our enrollment progress," Murray concluded. About QMed,
Inc. QMed provides evidence-based clinical information management
systems around the country to its health plan customers. The system
incorporates Disease Management services to patients and decision
support to physicians. The Company's QMedCare subsidiary
specializes in serving high-risk populations of Medicare
beneficiaries. Positive Directions is QMed's subsidiary offering
weight, obesity and health promotion programs. The Company also
operates a Medicare Demonstration to test the feasibility of
reimbursing its care coordinated DM services in the vast Medicare
fee-for-service program. More information on QMed, Inc. can be
obtained at http://www.qmedinc.com/, by calling (732) 544-5544 or
by emailing . Except for historical information contained herein,
matters discussed in this news release are forward-looking
statements that involve risks and uncertainties. They include but
are not limited to those relating to the timely implementation of
programs, the impact of competitive product introductions,
acceptance and pricing, and those risks detailed in the Company's
filings with the Securities and Exchange Commission (SEC). Actual
results may differ materially from any forward-looking statements
due to these risks and uncertainties. DATASOURCE: QMed, Inc.
CONTACT: Robert Mosby, QMed, Inc., +1-732-544-5544 x1107 Web site:
http://www.qmedinc.com/
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