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.
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