Innovative Health Plan Implements Comprehensive Program Leveraging Data-Driven Insights to Improve Quality and Economic Performance
Bowie, Md. – October 31, 2018 – Inovalon (Nasdaq: INOV), a leading technology company providing advanced, cloud-based platforms empowering data-driven healthcare, today announced a multi-year agreement with Bright Health, a new innovative healthcare company providing more affordable health insurance for everyday individuals. With this agreement, Bright Health will engage the Inovalon ONE® Platform in support of a comprehensive data-driven strategy to enable better healthcare outcomes, efficiency, and economic performance for its rapidly growing Medicare Advantage and Commercial ACA membership across multiple states.
Powered by the Inovalon ONE® Platform, Inovalon provides a highly extensible, national-scale capability to interconnect with the healthcare ecosystem on a massive scale, aggregate and analyze data in real time, and empower the application of resulting insights to drive meaningful impact. Leveraging the capabilities of the Inovalon ONE® Platform, including advanced predictive analytics informed by more than 39 billion medical events within the MORE2 Registry®, one of the largest and most comprehensive datasets in the nation, broad connectivity, and industry-leading subject matter expertise, Bright Health will be able to improve member experience, health outcomes, and delivery of care to meaningfully impact the areas of quality, efficiency, risk score accuracy, and reporting.
“Bright Health is committed to reshaping how people and providers achieve better health by making healthcare simpler, more affordable and personal,” said Brian Gambs, chief technology officer, Bright Health. “Inovalon’s cloud-based Platform, advanced analytical capabilities, and deep expertise support our quality and economic goals by delivering actionable insights that are key to optimizing the delivery of healthcare. We value our relationship with Inovalon as we partner together, advancing Bright Health’s mission and leadership in the marketplace.”
“We have been impressed with Bright Health’s commitment to the promise of enhanced benefits, better outcomes and reduced healthcare costs to optimize the patient experience,” said Bob Wychulis, president of Inovalon. “The sophistication of the technologies needed to achieve meaningful and differentiated results is integral to success. We’re proud to support Bright Health’s data-driven strategies delivering quantified value across their expanding membership.”
About the Inovalon ONE® Platform
The Inovalon ONE® Platform is an integrated cloud-based platform of more than 80 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 is referred to as a Component, which are grouped into Modules, and informed by the data of billions of medical events within Inovalon’s proprietary datasets. Combinations of Components and 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 Bright Health
Bright Health provides quality health insurance for everyday individuals at competitive prices. Through its exclusive Care Partner Health Plans in local communities, Bright Health is reshaping how people and providers achieve better health together by making healthcare simpler, more affordable and personal. Bright Health currently offers a range of individual, family and Medicare Advantage plans in Colorado, Arizona, Alabama, Tennessee, Ohio and New York City via its website, call center, broker partners and through government websites as well as public health insurance exchanges. Bright Health co-founders include Bob Sheehy, former CEO of UnitedHealthcare; Kyle Rolfing, co-founder and former CEO of Definity Health and RedBrick Health; and Tom Valdivia, MD, MS, former chief health consumer officer of Definity Health. Learn more at www.brighthealthplan.com.
Inovalon is a leading technology company providing 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 data sets, 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 19 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 943,000 physicians, 499,000 clinical facilities, 252 million Americans, and 39 billion medical events. For more information, visit www.inovalon.com.
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George Price (Investors)
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