Halfpenny Technologies Acquires Laboratory Management Services

Combined Offering Will Help Laboratories and Hospital Networks More Effectively Address the Clinical Data Requirements of Health Plans

BLUE BELL, Pa.--(BUSINESS WIRE)--Halfpenny Technologies, Inc., a leading health information exchange (HIE) solutions provider specializing in laboratory, pathology and physician electronic medical record (EMR) system interoperability, today announced that it has acquired Hauppauge, N.Y.-based Laboratory Management Services (LMS), a leading provider of clinical data acquisition and reporting solutions for health plans and clinical laboratories.

“However, most plans are unaware of the hurdles that laboratories face with respect to sharing clinical data. In combining LMS’s management tools with Halfpenny’s specialized interface engine, Halfpenny will be able to securely and cost-effectively facilitate data exchange between health plans and clinical labs.”

“With the addition of LMS, Halfpenny will offer a complete range of laboratory-focused, technology-enabled clinical data capture and reporting business tools,” says Jerry Baker, CEO of Halfpenny Technologies. “These tools will make it easier for laboratories and hospital networks to fulfill the increasingly stringent requirements of health plan agreements. In addition, LMS’s significant experience and relationships with some of the nation’s largest managed care organizations will be invaluable in helping Halfpenny Technologies further its goal of bridging the connectivity gap among disparate healthcare entities.”

The LMS organization will be integrated with Halfpenny’s core HIE business and operated as a division of Halfpenny Technologies. The acquisition leverages Halfpenny’s proprietary Integration Technology Framework™ (ITF) platform for clinical data capture, aggregation and normalization to expand the company’s interface services to the payer and health plan markets.

“Health plans realize the crucial role of laboratory results in ensuring accurate clinical diagnoses, and are increasingly requiring that labs forward test results to the members and patients who subscribe to their benefits,” says Mike Snyder, president of LMS. “However, most plans are unaware of the hurdles that laboratories face with respect to sharing clinical data. In combining LMS’s management tools with Halfpenny’s specialized interface engine, Halfpenny will be able to securely and cost-effectively facilitate data exchange between health plans and clinical labs.”

Halfpenny’s expansion of services through the LMS acquisition will include: clinical data capture of all member data points within a plan or product; clinical data normalization through LOINC mapping; plan leakage management for health plans and laboratory service providers; and technology to manage shared capitation reimbursement.

Through the acquisition, Halfpenny will be able to facilitate the movement and normalization of clinical data from laboratories and hospitals to satisfy health plan reporting requirements. “In addition,” notes Charles Halfpenny, president and founder of Halfpenny Technologies, “Halfpenny will continue to enhance its Web-based HIE portal, which enables secure and accurate collection and reporting of clinical data to health plans.”

About Halfpenny Technologies, Inc.

Halfpenny Technologies is a leading provider of healthcare connectivity and integration solutions for Health Information Exchange, Clinical Data Exchange and CPOE (computerized physician order entry). The company utilizes its depth of knowledge and real world clinical experience to meet the increasing demand for connectivity to physician portals and physician electronic medical record (EMR) systems. Through its proprietary Integration Technology Framework™ (ITF), Halfpenny Technologies delivers clinical data integration and connectivity solutions that enable hospitals and laboratories to receive, process and respond to physician-initiated requests for ancillary services. Halfpenny’s targeted solutions cover the full spectrum of health information exchange to provide reliable, secure and efficient exchange of clinical information while also facilitating the flow of patient, financial and administrative data between physician practices, laboratories, hospitals and health plans. The company has established a national reputation for delivering innovative integration and connectivity technology solutions for its clients. For more information, visit www.halfpenny.com.