SCHAUMBURG, Ill., Nov. 17, 2015 (GLOBE NEWSWIRE) -- Quadrant 4 System Corporation (QFOR) ("Quadrant 4" or the "Company") which provides state-of-the art SaaS (Software as a Service) and PaaS (Platform as a Service) based Exchange Solutions in Healthcare (QHIX), Media (QBLITZ) and Education (QEDIX) has signed a letter of intent to build a customized exchange for HCARE SYSTEMS LLC, (www.thehcaresystem.com) designed to coordinate healthy lifestyles with compatible Affordable Care Act health plans.
HCARE SYSTEMS has created a unique approach to helping employees and consumers manage a healthier lifestyle by coordinating health club memberships with health plan participation. HCARE SYSTEMS works with insurance providers, employers and health clubs to improve health and reduce health care costs. The HCARE technology suite creates new distribution channels for health plans while providing plan participants with economic purchasing power, as well as advocating and rewarding them for engagement in healthy lifestyle choices and behaviors.
"Everyone wins with our technology and business model," said Gary Barnes, President and founder of HCARE SYSTEMS. "The health clubs sell more memberships while reducing their monthly attrition, the health plans get healthier engaged consumers, employers get healthier happier employees and consumers are economically empowered and rewarded for their smart health care choices and healthy lifestyle behaviors."
Quadrant 4 has adapted its QHIX Hybrid Exchange to manage healthcare, health club membership and health plan selection and administration to better coordinate each of these separate solutions and services. With more than 52 million consumers exercising in health clubs across the nation there is tremendous demand in both the individual and group market to design health plans that account for this population's willingness to engage in healthy lifestyle behaviors.
We are excited that HCARE SYSTEMS has chosen Quadrant 4 and more importantly our QHIX Hybrid Exchange™ to manage this unique product, said Robert Steele, President of Quadrant 4 Health. "Providing this coordinated product to the group and individual insurance market will help their clients have healthier employees and ultimately lower premiums. We believe our Reach and Teach education offering and SMAC (Social, Mobile, Analytics, Cloud) architecture will provide significant product differentiation and become a market advantage for HCARE," continued Mr. Steele.
Quadrant 4's Chief Executive Officer, Dr. Nandu Thondavadi stated, "We are seeing a burgeoning of use cases regarding our exchange solutions. The market is realizing that our solutions can address many different administrative and marketing outreach needs in the healthcare eco system. We believe we will continue to broaden our appeal to ancillary product providers in the health care industry."
About Quadrant 4 System Corporation
Quadrant 4 System Corporation is a SMAC (Social, Mobile, Analytics and Cloud) technology company offering state-of-the art SaaS (Software as a Service) and PaaS (Platform as a Service) based Exchange Solutions in Healthcare (QHIX), Media (QBLITZ) and Education (QEDU). Quadrant 4's highly scalable vertical cloud platforms, coupled with our Global Professional Services organization, provide our clients with a competitive advantage in the marketplace. Please visit www.qfor.com for more information.
About HCARE SYSTEMS LLC
HCARE SYSTEMS LLC is a technology company that provides market leading health care consumerism solutions. The HCARE technology suite creates new distribution channels for both health plans and health club memberships while providing health plan participants with economic purchasing power, as well as advocating and rewarding them for engagement in healthy lifestyle choices and behaviors.
Forward-Looking Statements
This release contains forward-looking statements, which are subject to the inherent uncertainties in predicting future results and conditions. Any statements that are not statements of historical fact should be considered to be forward-looking statements. Certain factors could cause actual results and conditions to differ materially from those projected in such forward-looking statements. We do not undertake any obligation to release publicly revised or updated forward- looking information, and such information included in this release is based on information currently available and may not be reliable after this date.