Grace Century has announced the successful attainment of Meaningful Use Stage 2 (MU-2) certification for Quantum Innovations Inc., its electronic medical records project partner. This coveted achievement means that the company's Personal Wellness electronic Records (PWeR® 3.0) product is set to be a major player in the future development of the burgeoning electronic medical records market.
Ras Al Khaimah, United Arab Emirates, September 29, 2015 (Newswire.com) - Grace Century’s Electronic Medical Records (EHR) project partner Quantum Innovations Inc. has achieved the much-sought after Meaningful Use Stage 2 (MU-2) accreditation for its Personal Wellness electronic Records (PWeR) product. This major achievement goes hand-in-hand with a significant upgrade of the product platform, with the new version designated as PWeR® 3.0.
The formal MU-2 certification received by PWeR® 3.0 was awarded by InfoGard Laboratories Inc. which is authorized by the Office of the National Coordinator for Health Information Technology (ONC). This means that PWeR® 3.0 now belongs to an elite group of product innovations which meet the demanding standards set by the U.S. Secretary of Health and Human Services for the Center or Medicare and Medicaid Services (CMS). It is estimated that the overwhelming majority of applications for MU-2 certification fail due to the stringent selection criteria, making the achievement even more notable.
"We are confident that attaining MU-2 accreditation will be the catalyst for Quantum to be a major transformer of the healthcare information sector."
Scott Wolf, CEO and Director of Research, Grace Century
Noel J. Guillama, Chairman of Quantum Innovations, stated, “Through over a decade of dedication and expertise, our team’s herculean tenacity has yielded a very positive result with this most complex and elite global health information technology certification. It has been an extraordinary effort, involving international, multi-disciplinary collaboration, in successfully gaining MU-2 certification and bringing PWeR 3.0 to market. We intend for PWeR 3.0 to be used, both in the U.S. as well as in other countries and regions, to help transform the $7 trillion (USD) spent on global healthcare consuming over 10% of global GDP.”
Grace Century CEO Scott Wolf comments “We are thrilled to have our project reach this milestone. Quantum has worked extremely hard on this and we are confident that attaining MU-2 accreditation will be the catalyst for the company to be a major transformer of the healthcare information sector.”
The MU-2 accreditation also means that PWeR 3.0 will be one of a select group certified to assist eligible providers and hospitals to tap into the estimated $36.5 billion fund provided by The American Recovery and Reinvestment Act (ARRA) and the Health Information Technology Economic and Clinical Act (HITECH Act.) to support EHR adoption and build national exchanges of medical information.
In addition, MU-2 certification EHR has become mandatory under the U.S. Health and Human Services Department to avoid annual Government-imposed penalty payments. EHR is estimated to represent 1% of all Government-imposed penalty payments in 2015 (over $1 trillion gross annually in USD) and could rise to as high as 5% by 2018.
ENDS
About Grace Century, FZ LLC
Grace Century FZ LLC is an International research and private equity consultancy located in Ras Al Khaimah, (north of Dubai) in the United Arab Emirates (UAE). Grace Century specializes in “game-changing” life science and health related private equity projects.
For portfolio or company information please email info@gracecentury.com or call +971 (0)7 206 8851
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About The Quantum Group, Inc.
The Quantum Group, Inc. is an innovation-driven organization purposefully designed to bring effective change to the U.S. healthcare industry. The foundation of the Company has been in design, development and deployment of innovative solutions, technology, products and services to the healthcare industry. Our purpose is to seek and assist physicians and hospital providers, as well as government and private sector payers, in managing the treatment outcomes through a patient-centered wellness concept.
Quantum Innovations and PWeR® 3.0 Certified EHR Vendor & Product Information
Vendor Name: Quantum Innovations, Inc.
Certified EHR Name: PWeR ® Personal Wellness electronic Record ®
Certified EHR Version: 3.0
InfoGard Certification #: IG-3086-15-0029
Certification Date: September 16, 2015
Classification: Complete EHR
Practice Setting: Ambulatory
Requirements Edition: 2014
Certification Criteria: §170.314: a1-15, b1-5, b7, c1-3, d1-8, e1-3, f1-3, g2-4
Clinical Quality Measures: CMS2, CMS50, CMS68, CMS69, CMS90, CMS122, CMS138, CMS165, CMS166
Additional SW Required: First Data Bank, Microsoft Office 2010 or later, web browse
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