Two Additional Companies Added to QMed BILLING Control WELLINGTON, Fla., Dec. 7 /PRNewswire-FirstCall/ -- The Quantum Group, Inc. (OTC:QTUM) (BULLETIN BOARD: QTUM) (http://www.qtum.com/) announced today that its subsidiary, QMed BILLING, Inc. (http://www.qmedbilling.com/), has entered into Management Agreements with two additional Florida based medical billing and collection companies serving the Southern and Central Florida regions. These agreements, executed on December 1, 2006, continue our model of assembling strategically sized medical billing and collection companies to expand our abilities to service physicians and hospitals throughout the state. The Company has begun conducting the appropriate due diligence and pre-closing process necessary to facilitate full acquisitions. Quantum expects to close these acquisitions in the second quarter of 2007. With these agreements, QMed BILLING will serve over 300 accounts collectively, including doctors, labs and hospital groups throughout the State of Florida. The Company utilizes electronic processing systems to efficiently process claims and collect payments. Using state of the art software systems, QMed BILLING will be able to service clients statewide from their two operation centers. This leading technology also allows the Company to focus more attention on working with their clients to improve collections and turn around time. QMed BILLING performs all medical billing and collection services, including patient pay invoicing and collection, and encounter processing for Medicare patients. Quantum's President & CEO Noel J. Guillama commented, "A recent congressional study noted that certain government sponsored claims experienced a 18% denial rate. Claims filed by billing companies average a 4% denial rate. We are looking forward to offering our over 1,200 affiliated physicians these and other services that will help simplify their lives and allow more time and resources to be dedicated to direct patient care." The Quantum Group, based in Wellington, Florida, is one of Florida's largest community based healthcare systems. In conjunction with its subsidiary companies, Renaissance Health System of Florida, Inc. (RHS) (http://www.rhsfl.com/) and QMed BILLING, Inc. (http://www.qmedbilling.com/), Quantum provides administrative and service solutions to the Florida Medicare Advantage managed care industry as well as to the over burdened physicians of Florida. Through our growing number of nearly 1,200 contracted physicians and multiple managed care relationships in the state of Florida, we are strategically positioned to bring increased and highly valued efficiencies to the over $1OO billion Florida healthcare industry. According to an article published in the August 22, 2006 edition of the New York Times (By Gina Kolata), "By 2030, predicts Robert W. Fogel, a Nobel laureate at the University of Chicago Graduate School of Business, about 25 percent of the G.D.P. will be spent on health care, making it "the driving force in the economy," just as railroads drove the economy at the start of the 20th century." 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-KSB, 10-QSB, 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, expectations, representations 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 substantial and immediate additional capital to implement its continuing business model, the ability to attract and retain personnel -- including highly qualified executives, management and operational personnel, ability to negotiate favorable current debt and future capital raises, ability to manage the care of its patients with reasonable medical loss ration, ability to negotiate beneficial managed care agreements with a diversified and expanding provider base, continue to supply the services needed by the HMO clients as well as the growing list of physician clients 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 press release will, in fact, occur. Media Contact: Tanya Marie McPherson Corporate Communications The Quantum Group, Inc. 561.798.9800 DATASOURCE: The Quantum Group, Inc. CONTACT: Tanya Marie McPherson, Corporate Communications of The Quantum Group, Inc., +1-561-798-9800 Web site: http://www.thequantumgroupinc.com/ http://www.qmedbilling.com/ http://www.rhsfl.com/

Copyright