Hooper Holmes Launches IParamed 2.0, The First And Only Electronic Exam With Built-in Completion Technology

Hooper Holmes (NYSE Amex:HH) today announced the availability of iParamed 2.0, allowing its nationwide network of health professionals to conduct electronic paramedical exams in areas where there is little or no cellular connection.

As demand for electronic exams has skyrocketed, health professionals still have to conduct them at life insurance applicants' homes or offices, often in office buildings or areas without strong wireless signals. To ensure greater use of electronic exams, Hooper Holmes developed its own proprietary software solution with built-in completion technology that enables its health professionals to work offline until exams are complete.

“This gives our local health professionals a distinct advantage," said Dan L. Dodson, Senior Vice President of Life Insurance, “as they can now go virtually anywhere in the country and conduct electronic exams for applicants with complete confidence.” After starting an exam, the applicant’s information is temporarily saved securely on an encrypted drive if no cellular connection is available. Once a connection is available, the health professional automatically transmits the encrypted data securely to Hooper Holmes’ proprietary systems for delivery to the life insurance carrier, erasing all data from the health professional’s netbook.

“The beauty of this technology is that there’s no downtime, no lost productivity on the part of our health professionals,” continued Mr. Dodson. “Plus, it enables our health professionals to provide faster, smoother, more efficient exams for applicants. This also gives life insurance companies the confidence that more of their exams will be completed within a secure environment.”

Electronic exams are important to life insurance companies because exam information is available within minutes of completion, and can be imported as data into underwriting systems. Hooper Holmes introduced iParamed e-Exam in the first quarter of 2011, and by September, it was deployed nationwide. Using Hooper Holmes proprietary netbooks, which are wireless-enabled terminals, its health professionals do not have to bring their own laptops and wireless cards with them on exam appointments. Currently, Hooper Holmes has many leading carriers on the iParamed platform with more on the way.

About Hooper Holmes

Hooper Holmes is a leader in collecting personal health data and transforming it into useful information, enabling customers to take actions that manage or reduce their risks and expenses. With presence in hundreds of markets and a network of thousands of health professionals, Hooper Holmes can arrange a medical exam anywhere in the U.S. and deliver the results to its customers.

Hooper Holmes has four divisions. Portamedic provides a wide range of medical exam services nationwide. Heritage Labs tests millions of samples annually and helps life insurers improve underwriting performance by better applying the predictive powers of today’s tests. Hooper Holmes Health & Wellness provides a complete service for wellness, disease management, and managed care companies including scheduling support, fulfillment of supplies, blood collection kits, medical screenings, lab testing and data transmission. Hooper Holmes Services reduces the insurance sales cycle through integrated data collection, tele-interviewing and underwriting services.

This press release contains “forward-looking” statements, as such term is defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on the Company’s current expectations and beliefs and are subject to a number of risks, uncertainties and assumptions. Among the important factors that could cause actual results to differ materially from those expressed in, or implied by, these forward-looking statements are our ability to successfully implement our business strategy; uncertainty as to our working capital requirements over the next 12 to 24 months; our ability to maintain compliance with the financial covenant in our credit facility; our expectations regarding our operating cash flows; and the rate of life insurance application activity. Additional information about these and other factors that could affect the Company’s business is set forth in the Company’s annual report on Form 10-K for the year ended December 31, 2011, filed with the Securities and Exchange Commission on March 9, 2012. The Company undertakes no obligation to update or release any revisions to these forward-looking statements to reflect events or circumstances after the date of this press release to reflect the occurrence of unanticipated events, except as required by law.

Copyright Business Wire 2010