One of the nation’s more clever business models for hospital laboratories is co-tenancy. It is a proven way that lab administrators can reduce the cost of inpatient testing. It is for this reason that the Michigan Co-Tenancy Laboratory in Ann Arbor, Michigan continues to grow. It announced that, during the past quarter, three hospital systems executed co- tenancy agreements and became active participants. They are MaineHealth-Nor- Dx of Scarborough, Maine; Sparrow Health System of Lansing Michigan; and, St. Bernard’s Medical Center of Jonesboro, Arkansas.
ADD TO: Co-Tenancy
It was in 1997 when several health systems in Michigan joined with Warde Medical Laboratories to form the not-for-profit Michigan Co- Tenancy Laboratory. Growth has been steady. Currently there are 28 not-for-profit health systems in nine states that participate in this shared laboratory ownership model. The arrangement gives par- ticipating hospitals and health systems a way to lower the overall cost of inpatient lab testing while enjoying access to a broad menu of reference and esoteric tests.
HALFPENNY RAISES $2.25 MILLION
Things must be hot in the “lab hub” and LIS-to-EMR interface market. For the second time in the past 24 months, Halfpenny Technologies, Inc., of Blue Bell, Pennsylvania, has boosted its capital base. On February 22, Halfpenny disclosed it had raised $2.25 million, which closes out its Series A round of $6.6 million. It was in October, 2010 that the company raised $2.25 million in capital from venture capital companies. One area of growth for Halfpenny is working with health insurers to give them more capability to collect and handle laboratory test data.
- ARUP Laboratories, Inc., of Salt Lake City, Utah, announced that Khosrow Shotorbani was selected to head up its newly-created “Business Innovations Division.” Shotorbani is currently the Senior Vice President and Director of Sales at ARUP.
- Jack Shaw will retire from Joint Venture Hospital Laboratories (JVHL) of Detroit, Michigan, effective March 31. As Executive Director of JVHL, Shaw oversaw the founding of this regional laboratory network in 1992. He will also step down as President of MedNet Services.
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