BOWIE, Md. – July 14, 2015 – Inovalon (Nasdaq: INOV), a leading technology company providing advanced, cloud-based analytics and data-driven intervention platforms to the healthcare industry, announced today it has expanded its current relationship into a broader multi-year agreement with New York-based Independent Health Association, one of the nation’s highest-ranking health plans, to provide solutions focused on disease and comorbidity data to better understand and improve member care and financial performance within their Commercial ACA membership population offering.
Expanding on the existing relationship with Independent Health, Inovalon’s advanced analytics, cloud-based platforms, and electronic health record (EHR) interoperability for their Commercial ACA population will aid in the achievement of comprehensive disease and comorbidity data insight. From this, Independent Health can achieve a better understanding of its members’ disease conditions and comorbidity progression, helping to support care and a more accurate insight into risk corridors, reinsurance provisions and risk adjustment, known as the three R’s under the Affordable Care Act.
“At Independent Health, we continuously strive to improve both the quality and value of our members’ health coverage as well as the financial efficiency of our health plan,” said Nora McGuire, senior vice president and chief marketing officer of Independent Health. “The Inovalon solution will help us obtain a more comprehensive and accurate picture of the health status of our member population, which will enable us to collaborate more effectively with our provider partners in delivering better care to our members, and achieve the Triple Aim of better health, better care and lower costs.”
“Independent Health is consistently recognized as one of the highest-ranked health insurance plans in the nation for its commitment to quality and performance excellence,” said Bob Wychulis, president of Inovalon. “We are very pleased and proud to be part of Independent Health’s efforts to continue their leadership position in the industry.”
About Independent Health:
Independent Health, a not-for-profit health plan headquartered in Buffalo, New York, serves nearly 400,000 members and provides innovative health care products and benefits designed to engage consumers in their health and well-being. Established in 1980, our comprehensive portfolio of progressive products include HMO, POS, PPO and EPO products, Medicare and Medicaid plans, traditional indemnity insurance, individual and small group Exchange products, consumer-directed plans and health savings accounts, plus coverage for self-funded employers. Our subsidiaries and affiliate companies include pharmacy benefit management, specialty pharmacy and the Independent Health Foundation.
The company has been recognized nationally for its award winning customer service, dedication to quality health care and unmatched relationships with physicians and providers. To learn more, go to www.independenthealth.com.
Inovalon is a leading technology company that combines advanced cloud-based data analytics and data-driven intervention platforms to achieve meaningful insight and impact in clinical and quality outcomes, utilization, and financial performance across the healthcare landscape. Inovalon’s unique achievement of value is delivered through the effective progression of Turning Data into Insight, and Insight into Action®. Large proprietary datasets, advanced integration technologies, sophisticated predictive analytics, data-driven intervention platforms, and deep subject matter expertise deliver a seamless, end-to-end capability that brings the benefits of big data and large-scale analytics to the point of care. Driven by data, Inovalon uniquely identifies gaps in care, quality, data integrity, and financial performance – while bringing to bear the unique capabilities to resolve them. Providing technology that supports hundreds of healthcare organizations in 98.2% of U.S. counties and Puerto Rico, Inovalon’s cloud-based analytical and data-driven intervention platforms are informed by data pertaining to more than 763,000 physicians, 257,000 clinical facilities, and more than 121 million Americans providing a powerful solution suite that drives high-value impact, improving quality and economics for health plans, ACOs, hospitals, physicians, consumers and pharma/life-sciences researchers. For more information, visit www.inovalon.com.
Kim E. Collins
4321 Collington Road
Bowie, Maryland 20716
Greenough, on behalf of Inovalon