Quad M Solutions Inc. Signs MOU with Quantum Computing Inc.
Quad M Solutions Inc. has signed a Memorandum of Understanding (MOU) with Quantum Computing Inc. to develop a quantum solution aimed at improving the efficiency of medical underwriting. This collaboration will leverage Quad M's extensive medical records database, projected to benefit tens of thousands of employees in 2022. By integrating QCI's Qatalyst software, Quad M aims to enhance its underwriting process significantly, potentially tapping into a multi-billion dollar market. The agreement includes a payment structure of $5-10 per employee per month for QCI's services.
- Partnership with Quantum Computing Inc. to develop an innovative quantum solution.
- Access to a large medical records database for improved underwriting.
- Potential to capture a significant share of the multi-billion dollar insurance market.
- Payment structure based on employee count could align incentives and reduce costs.
- None.
Will Deliver the First Quantum Solution for Medical Underwriting
Edgewater, NJ, Jan. 19, 2022 (GLOBE NEWSWIRE) -- Quad M solutions, Inc.(MMMM:OTC) has executed a Memorandum Of Understanding (MOU) with Quantum Computing Inc. (QCI) (Nasdaq:QUBT) to develop and deliver a quantum solution for improving the efficiency of the company's self-underwritten medical insurance.
Quad M is projected to have tens of thousands of covered employees utilizing its medical benefits solutions through its subsidiary, Nuaxess2, in 2022. Quad M Solutions Inc. will collaborate with QCI in designing a quantum solution utilizing its over 100,000 person and growing database of medical records.
Currently, like all medical insurance companies and other self-insured corporations, Quad M Inc. uses a standard medical questionnaire to underwrite its employees. Quad M intends to use Quantum Computing Inc.’s Qatalyst™ ready-to-run quantum software to enable Quad M Solutions Inc. to generate a quantum-ready classical computing solution in the short term. This will enable Quad M to factor in multiple variables that had never been considered or utilized to lower its underwriting costs.
The companies intend to market this product to other self-insured corporations and medical insurance companies once it is perfected, leveraging insights from the current medical records. They believe this to be a potential multi-billion dollar market. Quad M Solutions Inc. will pay Quantum Computing Inc. between 5-10 dollars per employee per month for the services provided by QCI.
Mr. Joseph Frontiere, CEO of Quad M Solutions Inc., said “QCI is the only company with software that allows us to set up our underwriting solution in a quantum way. It is agnostic to any quantum hardware or classical computer, thereby allowing us to use the present state-of- the-art technology to massively improve our underwriting process. The present state of quantum and super computers has reached the point whereby we felt that this will give us a huge technological competitive advantage in the staffing solutions industry. I am very proud to be working with one of the most innovative software companies in the world.”
Mr. Robert Liscouski, CEO of Quantum Computing Inc., said “Working with Quad M Solutions offers our company a real world test case while delivering significant revenue. We expect to create a joint product that we will take to market for the multi-billion dollar insurance industry. Qatalyst™ software is perfectly designed to use the current state-of-the-art computer technology to deliver more accurate and diverse insights in the underwriting process.”
About Quad M Solutions, Inc.
Quad M Solutions Inc. is a public holding company that offers self-funded health plans, staffing services, HR-human resources, payroll services, retirement, supplemental and workers compensation insurance to small and mid-sized group employers with 1-500 employees, and to the exploding essential worker "Gig Economy," a labor market that is characterized by the prevalence of short-term contracts or freelance work, not permanent jobs. Our Company's four subsidiaries, NuAxess 2, Inc., PrimeAxess, Inc., OpenAxess, Inc. and PrimeAxess 2, LLC are important in conveying who we are and what we do.
We strive to provide those employers and individuals the right tools to be able to manage and control all the facets in their healthcare experience and their eventual health outcomes. Prevention, wellness, and cures have become part of our corporate mission to individuals who want to manage and control their short and long-term healthcare needs.
Our self-insured programs are consumer-driven and technology-leveraged and, by itself, self-insurance is affordable, transparent and responsive to the healthcare and retirement needs of employees who are looking for higher quality benefits, integrated health information and better medical provider access and outcomes.
For additional information, please visit: QuadMSolutions.com and NuAxess.com.
Forward-Looking Statements:
The statements contained herein that are not historical facts are forward-looking statements within the meaning of the federal securities laws (Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934). You can identify such forward-looking statements by the words "expects," "intends," "plans," "projects," "believes," "estimates," "likely," "possibly," "probably," "goal," "opportunity," "objective," "target," "assume," "outlook," "guidance," "predicts," "appears," "indicator" and similar expressions. Forward-looking statements involve a number of risks and uncertainties. In the normal course of business, Quad M Solutions, in an effort to help keep our stockholders and the public informed about our operations, may from time to time issue such forward-looking statements, either orally or in writing. Generally, these statements relate to business plans or strategies, projected or anticipated benefits or other consequences of such plans or strategies, or projections involving anticipated revenues, earnings, profits, pricing, operating expenses or other aspects of operating results. We base the forward-looking statements on our expectations, estimates, and projections at the time such statements are made. These statements are not guarantees of future performance and involve risks and uncertainties that we cannot predict. In addition, we have based many of these forward-looking statements on assumptions about future events that may prove to be inaccurate. The actual results of the future events described in such forward-looking statements could differ materially from those stated in such forward-looking statements.
Corporate Contact:
ir@quadmsolutions.com
FAQ
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