During ceremonies held in Seattle on June 23, Dr. Quarum was honored as the winner in the health care division. The other finalists in this category are Confirma Inc. and Seattle Genetics; both companies are headquartered in Washington.

Dr. Quarum joins an elite group of business leaders selected for the award. Each year, more than 3,000 nominations for regional E&Y competitions are received across the United States. From those nominations, roughly 350 Entrepreneur of the Year winners are chosen in June by independent panels of judges in 35 regions across the United States.

“I’m extremely honored and humbled to be recognized with this prestigious award. This recognition is attributed to every employee of Qmedtrix,” Dr. Quarum said. “I’m fortunate to be working with such a competent and hard-working group of individuals who are committed to our goal of health care reform.”

Dr. Quarum now is eligible for consideration for the Ernst & Young Entrepreneur of the Year 2004 national program. Winners in several national categories, as well as the overall national Ernst & Young Entrepreneur of the Year, will be announced at the annual awards gala in Palm Springs, Calif., in November 2004.

According to the Puget Sound Business Journal, judges selected the winners based on a number of factors, including financial growth, risks taken by the individuals, the stories behind their successes, community involvement and unique characteristics that set them apart from the competition.

“Growing a company from concept to industry leader requires a special breed of individual—someone who refuses to believe it can’t be done,” wrote Becky Monk, special reports editor for the Puget Sound Business Journal. “The person relishes risks, is an eternal optimist and charges ahead in the face of adversity.”

Since its launch in 1996, Qmedtrix has been charging ahead and is at the forefront of transforming the health care landscape. To identify, validate and correct inflated and unreasonable medical charges, Qmedtrix uses a proprietary database that reflects current and past trends, and fair payment levels across all sectors of the health care industry.

“Our unique methodology combines decision software and sophisticated systems, a vast knowledge of medical procedures, and expertise in the defense of our recommendations. Our brand product BillChek has become a critical solution for medical bills that are not covered by a network contract. In the health care industry BillChek is recognized as the ‘total out-of-network solution,’” Dr. Quarum said.

Also in 2003, Qmedtrix created a wholly owned subsidiary, Qmedworx, a national negotiation service for all out-of-network bills in the group health and auto medical market. Qmedworx’s unique approach uses Qmedtrix’s methodology to carefully analyze every bill before beginning negotiations. “Our systems and services ensure that errors and abuses are identified, and a fair and reasonable reimbursement recommendation is made before negotiations begin,” Dr. Quarum said.

Combining innovative systems and solutions with sound strategic planning, Qmedtrix is well-positioned to excel in an ever-changing industry landscape, said Dr. Quarum.

“We are constantly developing and expanding services to meet the needs of a very dynamic health care industry,” said Dr. Quarum. “None of this would be possible without the many talented, committed and dedicated Qmedtrix employees. Because of them, we are well on our way to reforming an industry.”

About Qmedtrix
Qmedtrix is one of the nation's leading decision software firms specializing in health care cost-containment solutions. By reviewing, validating and correcting medical bills, Qmedtrix identified $270 million in billing errors in 2003 alone. Qmedtrix offers a complete spectrum of systems and services to support the efforts of its clients, which include self-insured corporations, health care companies, third-party administrators and insurance companies. The company's rules engine and proprietary database set the industry standard.

About the Ernst & Young
Entrepreneur of the Year Awards Program
The Ernst & Young Entrepreneur of the Year awards program was created and is produced by professional services firm Ernst & Young LLP. As the first award of its kind, Ernst & Young Entrepreneur of the Year recognizes outstanding entrepreneurs who are building and leading dynamic and growing businesses. The program honors entrepreneurs through regional, national and global award programs in more than 100 cities and 35 countries.

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