The Quantum Group Announces Completion of 1st Community Health System in Support of Medicare Advantage Program
February 14 2005 - 9:41AM
PR Newswire (US)
The Quantum Group Announces Completion of 1st Community Health
System in Support of Medicare Advantage Program WELLINGTON, Fla.,
Feb. 14 /PRNewswire-FirstCall/ -- The Quantum Group, Inc.
(OTC:QTUM) (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 DATASOURCE: 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/
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