The Quantum Group Issues Guidance on 3rd Quarter Revenues and Comments on Healthcare Reform Initiatives
August 12 2009 - 7:15AM
Business Wire
The Quantum Group (NYSE Amex:QGP), in anticipation of eminent
discussions with financial analysts, announced preliminary
expectations for third quarter revenues of $9.75 million for fiscal
year 2009. This figure would represent a 17% sequential increase in
revenues over the first quarter of 2009 and a 113% increase over
the same quarter of fiscal year 2008. Further, the Company notes
that these expected revenues represent the 11th consecutive quarter
of double-digit revenue growth. The final figures are subject to
adjustment as we reconcile with our payer partners.
“We anticipate a continued ramp-up in operations as our services
continue to grow in addition to the new revenues anticipated from
PWeR™ (Personal Wellness electronic Record™), our dynamic
healthcare technology platform,” commented Noel J. Guillama,
Quantum President & CEO. “It is a true credit to the dedication
and tremendous talent of our team that our business model continues
to execute as planned. We believe we have the right combination of
technology, systems, processes and agility required to thrive in
this new era for the healthcare industry. Healthcare has reached
the ‘tipping point’ and we believe our services and solutions can
fulfill many of the needs of providers, hospitals, facilities and
payers, in Florida and across the Country, as federally mandated
reforms take hold. These are exciting times for healthcare and in
turn, for Quantum.”
PWeR is a technology platform designed to integrate all of the
principal applications a provider uses into one system including
Electronic Medical Records (EMR), practice management (PM),
scheduling & billing. “We have created a new breed EMR system
that is web-based and integrates as a service, not unlike the
online banking model,” noted Guillama.
PWeR utilizes a cloud computing architecture so that a patient’s
entire care team, including primary care physicians, specialists,
hospitals and any other provider that sees the patient, may share
information and access the patient’s complete medical record. We’ve
quite simply applied proven technology and methodologies from other
transformed industries to healthcare by linking information to the
one constant element – the patient.”
“America is at a crossroads with regard to healthcare costs,
productivity and quality. We believe that healthcare reform is not
an option; it is a necessity. The role of primary care physicians
and initiatives like the Patient Centered Medical Home (PCMH), need
to be the national standard,” Guillama stated. “Additionally, we
believe that payers and providers must become more efficient to
reduce unnecessary administrative and duplicative costs. A
comprehensive, technology-driven and community-based clinical
operating system is a key component. Quantum was founded upon these
key principles and as such, we believe we are well prepared to
aggressively participate in the reform of this industry.”
Guillama concluded, “Healthcare is the largest industry in the
United States and is a $4 trillion industry worldwide. As
healthcare continues to grow as a percentage of our national GDP,
reform cannot come soon enough.”
About PWeR™
PWeR stands for Personal Wellness electronic Record™.
This 21st Century EMR solution is a new breed, intelligent
healthcare information platform that hosts medical records and
permits interactive use. Medical records will follow the patient,
giving every healthcare provider that sees a particular patient
access to all the information needed to assist in their diagnosis
and treatment plan. Providers can access a patient's entire medical
record at one glance. Patients can look back over physician
instructions or track their wellness progress. In critical
situations or in providing treatment to PWeR patients, hospitals
are enabled to access full medical histories and make educated
treatment decisions based on accurate data. That's PWeR -
complexity meets simplicity.
For more information, please visit www.myPWeR.com.
About The Quantum Group, Inc.
The Quantum Group is an innovation-driven Healthcare Services
Organization (HSO) that provides Technology Solutions
through PWeR, a 21st Century Electronic Medical Records (EMR)
platform; Provider Systems and services through Renaissance
Health Systems, a Medical Services Organization (MSO) with more
than 2,000 affiliated providers; and Business Services for
healthcare providers and facilities. For more information, please
visit www.QuantumMD.com.
In this announcement, the Company has given guidance on revenues
expected for the fiscal 3rd quarter of 2009. Actual results may
vary substantially in part due to the actual reporting by the
health plan partners under contract including the number of
assigned patient lives, enrollments, and retroactive disenrollments
and other conditions that are not apparent at the time of this
release. The Company is not required to file updates and/or changes
to this guidance prior to the filing of the unaudited 2nd quarter
results for 2009 with the Securities and Exchange Commission and
subsequent audited financial statements for the year ending October
31, 2009. 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-K, 10-Q, S-8, SB-2, S-1 and 8-K filings (and
amendments thereto) that may cause actual results to materially
differ from projections. Forward-looking statements can be
identified by the use of words such as "expects," "plans," "will,"
"may," "anticipates," "believes," "should," "intends," "estimates"
“could” and other words of similar meaning. These statements are
subject to risks and uncertainties that cannot be predicted or
quantified and, consequently, actual results may differ materially
from those expressed or implied by these forward-looking
statements. Such risk factors include, without limitation, the
ability of the Company to properly execute its business model, to
raise substantial and immediate additional capital to implement its
business model, to continue revenue growth trend in fiscal
year 2009, to control patient medical cost relative to income
received, to attract and retain executive, management and
operational personnel, to continue growing its patient base,
to negotiate favorable current debt and future capital raises, to
negotiate favorable agreements with a diversified provider base and
HMO clients and to continue to supply the services needed by these
HMO clients as well as provider clients. We have further risk in
the deployment of our PWeR™ technology platform and the continuing
infrastructure development, hosting, security, sales and servicing;
further potential complications by the utilization by our clients,
technical and software setbacks, cost of development, as well as
the capital to deploy it as well as pricing and completive
pressures. We are also subject changes in federal and state
government regulations dealing with both our provider system and
our technology solutions that could have a material economic affect
and cause interruptions of services. We are also subject to
contractual risk, expenses and compliance with our alliance
partner(s) agreements. The Company does not undertake any
obligation to publicly update any forward-looking
statements. As a result, investors should not place undue
reliance on these forward-looking statements.
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