WELLINGTON, Fla., April 3, 2008 The QuantumGroup, Inc. (Amex: QGP, QGP.WSA, QGP.WSB) (www.QuantumMD.com) announced todaythat, following an open enrollment period instituted by The Centers forMedicare and Medicaid Services (CMS), the Company's subsidiary, RenaissanceHealth Systems, increased its enrolled Medicare Advantage base to 2,240 and ison track to reach a projected 5,000 enrollments by December 31, 2008.
During the CMS open enrollment period, which runs from November 15ththrough March 31st of each year, Medicare-eligible patients are allowed tochoose or switch health plans. Patients who come of eligible age for Medicareor Medicaid during the balance of the year as well as those who becomeeligible to receive both Medicaid and Medicare benefits or are eligible forspecial needs waivers, are able to select a plan year round.
Noel J. Guillama, President and CEO of The Quantum Group, stated earlierthis week that the Company plans to continue recruitment of Medicare eligibleindividuals for the remainder of the year. Mr. Guillama said, "The state ofFlorida welcomes new residents by the thousands each month, many of which areMedicare-eligible and looking to retire in the Sunshine State. We willcontinue to work with our HMO partners to pursue marketing initiatives gearedto the newly Medicare eligible, those who are receiving both Medicare andMedicaid benefits as well as those with special needs waivers."
Guillama continued, "We are also in discussions with our HMO partners tocultivate new or transferred providers and/or patient assignments who arealready enrolled in Medicare Advantage plans with each respective HMO.
"Our strategy is on track to focus on the continued growth of our providerbase and enhancement of our relationships with our HMO partners during theclosed enrollment season. Further, we look forward to the anticipated rolloutof several of our most exciting outsourcing services and products geared toincrease the efficiency and effectiveness of healthcare providers later thisyear - particularly our previously announced dynamic technology platforminitiative."
Referring to the continued expansion of affiliated healthcare providers,Barbara Roqueta, Senior Vice President of Provider Operations, stated, "Wehave enjoyed the ongoing growth of our provider base. We are on track toreach our projected goal of 2,500 providers by the end of this calendar year.We have established Community Health Systems in 26 counties and are engaged inan expansion to establish our presence in an additional six counties thiscalendar year."
About The Quantum Group, Inc.
The Quantum Group is a Florida-based organization that builds and manageshealthcare systems and offers consulting and outsourcing services to thenation's largest and fastest growing industry - healthcare.
The Company is leveraging leading-edge technology with the development andexecution of a series of innovative patent-pending technology initiativesdesigned to make Quantum one of the state's leading providers of businesssolutions for the healthcare industry. Through its growing number of over1,800 contracted healthcare providers and managed care relationships in thestate of Florida, the Company believes it is positioned to bring increasedefficiencies to the Florida healthcare industry.
Certain statements contained in this news release, which are not based onhistorical facts, are forward-looking statements as the term is defined in thePrivate Securities Litigation Reform Act of 1995, and are subject tosubstantial uncertainties and risks in part detailed in the respectivecompany's Securities and Exchange Commission 10-KSB, 10-QSB, S-8 and 8-Kfilings (and amendments thereto) that may cause actual results to materiallydiffer from projections. Forward-looking statements can be identified by theuse of words such as "expects," "plans," "will," "may,"