HUNTINGTON BEACH, Calif., Aug. 24, 2004 (PRIMEZONE) -- Quintek Technologies, Inc. (OTCBB:QTEK) announced today that their QSI Division has signed an agreement with RecordSourceMD, a solution provider of HIPAA (Health Insurance Portability and Accountability Act) compliant document management solutions to the medical community.
This agreement combines services that assist physicians and their practices by streamlining the release of protected health information. Currently this process is fragmented with multiple requestors, from copy services to the Department of Social Services; accessing, routing, copying and distributing contents from patient charts.
RecordSourceMD is currently impacting the medical records industry by providing the following services:
- Management of the release of patient files in compliance with federal regulations through use of audit tracking and detailed reporting at no cost to physicians
- Acceptance of service of process, related copy work and medical record request fulfillment freeing up valuable physician time and removing exposure to litigation
- Archiving of paper files to an electronic format allowing for ease of storage and retrieval
Bob Brownell, President of QSI stated, "We are pleased to sign RecordSourceMD as a strategic partner and are looking forward to complementing the services currently provided to their physician clients. This relationship will add value to both companies, allowing for improved efficiencies and service for RecordSourceMD clients and an increase of revenue and penetration into new markets for QSI."
Guy Puckett, President of RecordSourceMD commented, "It is time to rethink how medical records are handled. RSMD has a high client retention rate and we have been successful in saving clients time and money, while providing more control in the release of protected health information."
About Quintek
Quintek Technologies, Inc. has been a manufacturer of hardware and software and a service provider to the corporate and public sector markets since 1991. The Company's new division, Quintek Services Inc. (QSI) delivers Business Process Outsourcing (BPO) services and Information Lifecycle Management (ILM) solutions to document intensive industries such as public utilities, healthcare, insurance, financial, legal, telecommunications and manufacturing.
The solutions and services the Company provides enable organizations to secure and manage their information and document business processes more efficiently. The Aberdeen Group, a provider of IT market intelligence, forecasts 13 percent annual growth for the BPO industry through 2005, when the market is projected to reach $248 billion.
About Record SourceMD
RecordSourceMD (RSMD) helps physicians and their practices by streamlining the release of protected health information. Currently this process is fragmented with multiple requestors, from copy services to the Department of Social Services; accessing, routing, copying and distributing contents from patient charts. This process has left physicians dealing with dozens of daily interruptions in their day and a plethora of work for their office staff to handle medical record copying chores, driving up the cost of health care. In addition, the federal government has stepped in to ensure that medical charts are handled with patient privacy in mind, adding to the importance of proper medical record management.
RecordSourceMD provides efficient and timely record handling and release by utilizing secure management software to archive patient files for ease of storage and retrieval. The once cumbersome task of record request fulfillment is as easy as a click of a button. Clients of RSMD gain sophisticated tracking and management reporting which meets and exceeds federal requirements for handling patient files according to the Health Insurance Portability and Accountability Act (HIPAA).
"Safe-Harbor" Statement Under the Private Securities Litigation Reform Act of 1995
This press release contains forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), including statements regarding potential sales, the success of the company's business, as well as statements that include the word "believe" or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Quintek to differ materially from those implied or expressed by such forward-looking statements. Such factors include, among others, the risk factors included in Quintek's Annual Report on Form 10-KSB for the fiscal year ended June 30, 2002 and any subsequent reports filed with the SEC under the Exchange Act. This press release speaks as of the date first set forth above and Quintek assumes no responsibility to update the information included herein for events occurring after the date hereof. Actual results could differ materially from those anticipated due to factors such as the lack of capital, inability to secure funding, timely development of products, inability to deliver products when ordered, inability of potential customers to pay for ordered products, and political and economic risks inherent in international trade.