Inovalon Announces Agreement with Boehringer Ingelheim to Support Outcome-Based Contracting
Inovalon platform to empower expanded insight and improvement in outcomes for value-based medication offerings
Bowie, Md. – January 23, 2017 – Inovalon (Nasdaq: INOV), a leading technology company providing advanced, cloud-based platforms empowering a data-driven transformation from volume-based to value-based models across the healthcare ecosystem, today announced that it has entered into an agreement with Boehringer Ingelheim Pharmaceuticals Inc., a research-based, global pharmaceutical company, on behalf of Boehringer Ingelheim’s diabetes alliance with Eli Lilly and Company (NYSE: LLY), a global healthcare leader. The agreement utilizes Inovalon and Avalere’s combined breadth of healthcare capabilities and integrated platform supporting greater customer insight, data integration and analytics and integrated provider and patient-level intervention capabilities. This will support outcomes based contracting and help translate clinical outcomes into real world practice to ultimately improve patient clinical care.
The partnership recognizes that the healthcare landscape continues to rapidly transform from fee-for-service and volume to value and outcomes. By leveraging innovative technologies currently in use with more than 100 existing customers, the partnership will leverage a more holistic and integrated support to outcomes based contracting that will better align with payor needs and help improve quality and clinical/economic outcomes.
“The Boehringer Ingelheim and Lilly diabetes alliance is committed to innovation through the discovery and development of treatment options where unmet needs exist, as illustrated by the breakthrough evidence from the landmark EMPA-REG OUTCOME® trial which evaluated cardiovascular outcomes in adults with type 2 diabetes,” said Christine Marsh, vice president, Market Access, Boehringer Ingelheim Pharmaceuticals, Inc. “We are excited to be working with the combined capabilities of Inovalon and Avalere, and believe that they will support us in our goal of translating clinical outcomes into real world practice to ultimately improve patient care.”
“We are very pleased to partner with industry leaders such as Boehringer Ingelheim and Lilly to support their goal of researching, developing and bringing new medications of high therapeutic value to the healthcare community,” said Keith Dunleavy, M.D., chief executive officer of Inovalon. “The analytics and data-driven platforms provided by Inovalon and Avalere help to show and achieve the great value of Boehringer Ingelheim and Lilly diabetes alliance’s medications and play an integral role in their strategy. We look forward to advancing their mission and leadership in the marketplace.”
“As the trend toward quality and value-based care models increases, the importance of data-driven insights has never been more essential for success,” said Dan Mendelson, president of Avalere Health. “We look forward to supporting advanced insight into quality outcomes and performance, as well as optimizing outcomes-based contracting initiatives.”
Inovalon is a leading technology company providing cloud-based platforms empowering a data-driven transformation from volume-based to value-based models throughout the healthcare industry. Leveraging large-scale data interconnectivity capabilities, unparalleled proprietary data sets, advanced analytics, data-driven intervention systems, and industry-leading subject matter expertise, Inovalon enables the assessment and improvement of clinical and quality outcomes 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®.” Providing technology that supports nearly 500 healthcare organizations, Inovalon's platforms are informed by data pertaining to more than 837,000 physicians, 354,000 clinical facilities, and more than 139 million Americans. For more information, visit www.inovalon.com.
EMPA-REG OUTCOME® is a registered trademark of Boehringer Ingelheim.