WELLINGTON, Fla., July 30 The Quantum Group(Amex: QGP) (www.QuantumMD.com) has announced that Renaissance Health Systems,a Quantum subsidiary company, has executed an additional statewide contract inFlorida with an existing payer client. The Renaissance footprint currentlyspans 26 Florida counties and is expected to reach 32 counties by the end ofthis calendar year. The 32 counties represent 87% of the Medicare eligiblepopulation and a strong growth resource for the payer (health plan) partnersof the Company.
Noel J. Guillama, President & CEO of The Quantum Group commented, "We havebuilt a strong infrastructure with over 2,000 affiliated healthcare providersand physicians, and eight payer partners. We systematically laid the railroadtracks to provide for efficient and effective healthcare delivery to patientslocated throughout Florida. We are now building momentum and utilization ofour tracks. Our continued efforts to serve the broad Florida healthcare markethave yielded a high level of customer satisfaction. We are thrilled that ourpayer partners are continuing to recognize the valuable role we play in theirongoing growth and development, and that our healthcare providers aretherefore able to access more health plans and in turn increase their patientbase. We are excited by our continued progress and are mindful that the talentof our team is the catalyst to our success -- past, present and future."
Barbara Roqueta, Senior Vice President Operations, leads the team ofProvider Specialists charged with servicing and recruiting affiliatedhealthcare providers, and is responsible for managing the relationships withthe payers. Roqueta commented, "We are thrilled to provide expansionopportunities to our current health plan partners. Our statewide growth planfacilitates a dynamic partnership that will benefit all involved, mostimportantly, the patients. We continue to strengthen our relationships throughvalue add benefits and through the growth opportunities provided by thedevelopment of our county networks, or as we call them our Community HealthSystems."
Recently the U.S. Congress passed the Medicare Improvement for Patientsand Providers Act of 2008. This legislation, which passed with overwhelmingbi-partisan support, requires Medicare Advantage plans to devise a new way ofmarketing to Medicare eligible individuals. The legislation stipulates thatmost fee-for-service plans contract with providers, or networks of providersnot previously mandated by federal law. It also increases physiciancompensation by reducing certain payments to managed care plans.
Commenting on this legislation, Mr. Guillama said, "We believe this newlegislation will prove to be a great benefit to patients and providers andwill further justify our value as the need has never been greater for moreeffective and efficient healthcare system."
"We have strategically structured our business model to drive efficiencyinto the healthcare system. It is these efficiencies that will drive downcosts, provide for a higher quality of patient care and ultimately yieldhigher financial returns. We believe we are in a great position to helpfacilitate the progressively more complex healthcare delivery system forMedicare Advantage members and for our provider and payer partners and thatinnovation and efficiency driven companies like ours, which offer a fullservice solution, should do very well under this new legislation."
About The Quantum Group, Inc.
The Quantum Group provides business process solutions, service chainmanagement, strategic consulting and leading edge technology innovations tothe healthcare industry.
Through our dynamic patient-centric architecture, we empower thecommunication that is critical for the coordination of care and take aim atthe $600 billion inefficiency gap in the United States healthcare industry. Weare guided by a mission to de