BOWIE, Md., Oct. 28, 2019 (GLOBE NEWSWIRE) — Inovalon (Nasdaq: INOV), a leading provider of cloud-based platforms empowering data-driven healthcare, today announced that clients utilizing Inovalon’s quality improvement solution suite outperformed the entire Medicare Advantage market for the sixth year in a row, realizing an average positive increase in their Centers for Medicare & Medicaid Services (CMS) 2020 Five-Star Quality Ratings of nearly 300% greater than that of health plans not using Inovalon’s analytics.
These results reflect data released by CMS on October 11, 2019, pertaining to all Medicare Advantage and Prescription Drug Plans, which revealed that on a year-over-year basis, Star Rating scores increased across the United States by 2.72% for the average Medicare Advantage health plan on an enrollment-weighted basis. Health plans engaged with Inovalon’s quality improvement suite realized an average increase of 4.10%. When removing Inovalon’s clients from the national results, the average increase across all health plans not utilizing Inovalon’s Platform is revealed to be just 1.44%, representing a nearly 300% outperformance of the market by Inovalon’s clients. The achievement of higher Star Ratings reflects the ability of the Inovalon ONE® Platform to rapidly deliver actionable analytical insights, empower superior care delivery by health plans to their members, and create positive, meaningful economic performance impact.“Increasingly, across the Medicare Advantage market, we are seeing that the ability to achieve quality excellence requires the deployment of a data-driven technology platform capable of supporting year-round strategies that enable health plans to quickly identify and address patient-specific gaps in care and quality,” said Kris Volrath, vice president at Inovalon. “We are pleased to see the continued strong performance of our clients — a result of their commitment to leveraging industry-leading technologies to drive meaningful impact on the health outcomes of their members and overall quality performance.”Inovalon’s market-leading primary source datasets, together with leading capabilities in clinical quality data aggregation, analytics, integrated outreach tools, and data visualization provide health plans with both broad market and patient-specific analyses to improve quality of care and member health outcomes. Able to integrate, analyze and aggregate the growing volume of healthcare datasets at high speed to achieve greater insight and improvement in clinical outcomes measures, the Inovalon ONE® Platform delivers the nation’s most widely used healthcare quality data analysis and improvement solution, with nearly 76% of all reported lives within the United States running through the Platform in 2019.About the CMS Star Ratings ProgramThe national Star Ratings performance program, instituted by CMS, measures and reports on a wide range of clinical and quality outcomes pertaining to members and health plans across the United States. The quality measures addressed are utilized by federal and state programs to determine quality scoring and associated incentives and penalties for such programs as CMS’ Medicare Advantage Five-Star Quality Rating System, the U.S. Department of Health and Human Services’ (HHS) Quality Ratings System (QRS) for Affordable Care Act (ACA) plans, and state-based Managed Medicaid measurement programs. Inovalon solutions support these programs, as well as physician-based measurement programs such as those created under the Medicare Access and CHIP Reauthorization Act’s (MACRA) Quality Payment Program, Accountable Care Organization (ACO) initiatives, and other quality outcomes-based incentive programs.About the Inovalon ONE® PlatformThe Inovalon ONE® Platform is an integrated cloud-based platform of nearly 100 individual proprietary technology toolsets and deep data assets able to be rapidly configured to empower the operationalization of large-scale, data-driven healthcare initiatives. Each proprietary technology toolset, referred to as a Module, is informed by the data of billions of medical events within Inovalon’s proprietary datasets. Combinations of Modules are configured to empower highly differentiated solutions for client needs quickly and in a highly scalable fashion. The flexibility of the modular design of the Platform enables clients to integrate the capabilities of the Platform with their own internal capabilities or other third-party solutions. The Platform brings to the marketplace a highly extensible, national-scale capability to interconnect with the healthcare ecosystem on a massive scale, aggregate and analyze data in petabyte volumes, arrive at sophisticated insights in real time, and drive meaningful impact wherever it is analytically identified best to intervene and intuitively visualize data and information to inform business strategy and execution.About InovalonInovalon is a leading provider of cloud-based platforms empowering data-driven healthcare. Through the Inovalon ONE® Platform, Inovalon brings to the marketplace a national-scale capability to interconnect with the healthcare ecosystem, aggregate and analyze data in real-time, and empower the application of resulting insights to drive meaningful impact at the point of care. Leveraging its platform, unparalleled proprietary datasets, and industry-leading subject matter expertise, Inovalon enables better care, efficiency, and financial performance across the healthcare ecosystem. From health plans and provider organizations, to pharmaceutical, medical device, and diagnostics companies, Inovalon’s unique achievement of value is delivered through the effective progression of “Turning Data into Insight, and Insight into Action®.” Supporting thousands of clients, including 24 of the top 25 U.S. health plans and 22 of the top 25 global pharma companies, Inovalon’s technology platforms and analytics are informed by data pertaining to more than 976,000 physicians, 535,000 clinical facilities, 278 million Americans, and nearly 46 billion medical events. For more information, visit www.inovalon.com.Contact:Kim E. Collins
Senior Vice President
[email protected]
301-809-4000 x1473
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