SUGAR LAND, TX, April 04, 2018 (GLOBE NEWSWIRE) — Quantum Medical Transport, Inc. (DRWN: OTC.PK) enters LOI to form a joint venture partnership with River Oaks Billing Associates, a Houston, Texas medical billing firm. Quantum is planning to implement medical billing payments into its blockchain technology for secure payment processing of insurance claims and patient billing. Both also agreed to revenue sharing in all new business generated under the partnership, which will be formed as a separate entity. River Oaks Billing will be responsible for marketing the medical billing blockchain service to its customers as a HIPPA compliant secure medical billing software solution: QuantH v1.0.
The pair has also agreed to jointly enter the HEDIS medical records retrieval and data storage industry, thus changing the game on how insurance companies retrieve, analyze and store data in a secure blockchain cloud by implementing a streamlining approach through ourQuantH Medical Blockchain Technology.The National Committee for Quality Assurance (NCQA) created this standard in 1991; the Healthcare Effectiveness Data and Information Set (HEDIS)has become used almost universally in the managed care industry as a tool for measuring the performance of health care plans based upon a scoring system that measures quality of care, and access to care delivered to patients. The HEDIS program is also used in discovering fraud in insurance claims billing in Medicare and Medicaid and private insurance.
One of our leading competitors is Change Healthcare and they are active in HEDIS records retrieval through one of their subsidiaries and they are very active in medical billing.
“We plan to rival many of the giants in this industry by becoming the frontrunner in a fully HIPPA compliant Medical Blockchain Technology,” said Ricky Bernard, CEO.
About Quantum Medical Transport/United Ambulance/QuantH
QUANTUM MEDICAL TRANSPORT, INC. /UNITED AMBULANCE, LLC is a medical technology and transportation company. The company is developing a proprietary medical blockchain technology for secure data storage and data transfer in a HIPPA compliant manner. We also provide emergency and non-emergency medical transportation services in the State of Texas. The Company provides basic and advanced life support ground transport in an emergency and non-emergency setting, 24 hours a day, and seven days a week. The Company makes both local and regional out-of-town services available on a daily dispatch basis.
Management remains focused on providing prompt, high-quality patient care at the Advanced and Basic Life Support levels. Employees will work diligently to achieve goals while maintaining the highest standards of care.
About River Oaks Billing Associates
River Oaks Billing Associates is a medical billing and claims processing firm in Texas. The principal of the firm has more than 20 years experience in the industry and has a level of expertise in various EHR/EMR medical records software systems, ICD-9 and ICD-10 billing coding and HEDIS medical records retrieval. Learn more at www.riveroaksbillingassociates.com
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This press release contains forward-looking statements that involve a number of risks and uncertainties. Forward-looking statements generally can be identified by the use of forward-looking terminology such as “believes,” “expects,” “may,” “will,” “intends, “plans,” “should,” “seeks,” “pro forma,” “anticipates,” “estimates,” “continues,” or other variations thereof (including their use in the negative), or by discussions of strategies, plans or intentions. A number of factors could cause results to differ materially from those anticipated by such forward-looking statements, including those discussed under “Risk Factors” and “Our Business.” Forward-looking statements are subject to known and unknown risks and uncertainties and are based on potentially inaccurate assumptions that could cause actual results to differ materially from those expected or implied by the forward-looking statements. Our actual results could differ materially from those anticipated in the forward-looking statements for many reasons.
Investor Relations: Ricky Bernard 832-436-1831 x100 firstname.lastname@example.org www.quantummedicaltransport.com www.quantH.io(ICO Website) Follow us on twitter@quantummedical1