BOWIE, Md. – November 20, 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 a collaboration with the University of Maryland’s Center for Health Information and Decision Systems (CHIDS) as part of its expanding applications of machine learning and neural network solutions within the predictive analytic Components of the Inovalon ONE™ Platform.
Through this engagement, CHIDS will join Inovalon’s ongoing development initiative focused on Natural Language Processing (NLP), Machine Learning (ML) and Deep Learning (DL) solutions utilized within the Inovalon ONE™ Platform. Leveraging these technologies, and the large-scale compute environments available within the Inovalon ONE™ Platform, Inovalon has been advancing its capability to perform ultra-high-speed analysis of unstructured data contained within raw clinical documentation such as that found within Electronic Health Record platforms. Integrating these capabilities with Inovalon’s national-scale EHR connectivity and MORE2 Registry® dataset (which contains data pertaining to 231 million patients and 34 billion medical events) empowers the real-time analysis of combined clinical data and claims-based data at ultra-high speeds. These capabilities enable dramatic improvements in scale, breadth and depth of analysis, speed to insight, and efficiency in processes where both clinicians and traditional analysts would otherwise be needed.
“We are at a tipping point for harnessing diverse data sources and utilizing advanced artificial intelligence capabilities to transform healthcare in ways we had not imagined in the past,” said Ritu Agarwal, participating researcher and the Robert H. Smith School’s senior associate dean for research. “The ability to collaborate with an industry leader such as Inovalon provides further validation of application and measurable impact of this initiative.”
“We are very pleased to be collaborating with UMD’s CHIDS, pioneers in the study of digitally enabled health system transformation and known for its thought leadership and research collaborations,” said Eric Sullivan, senior vice president, innovation and data strategies at Inovalon. “Leveraging insights from the collaboration with UMD, Inovalon will continue to deliver innovative industry-leading capabilities within the Inovalon ONE™ Platform as we focus on delivering highly differentiated capabilities to the healthcare marketplace.”
About the Inovalon ONE™ Platform
The Inovalon ONE™ Platform is an integrated cloud-based platform of more than 80 individual proprietary technology toolsets able to be rapidly configured to empower the operationalization of large-scale data-driven and value-based healthcare initiatives. The Platform brings to the marketplace a highly extensible, national-scale capability to interconnect with the healthcare ecosystem, aggregate and analyze data in petabyte volumes, arrive at sophisticated insights in real time, drive meaningful impact wherever it is analytically identified best to intervene, and intuitively visualize data and information to inform business strategy and execution.
About The Center for Health Information and Decision Systems (CHIDS)
The Center for Health Information and Decision Systems (CHIDS) is an academic research center based in the Department of Decision, Operations & Information Technology (DO&IT) at the Robert H. Smith School of Business that collaborates closely with industry, government, and other key health system stakeholders. CHIDS’ research seeks to understand how digital technologies can be more effectively deployed to address outcomes such as patient safety, healthcare quality, efficiency in healthcare delivery, and a reduction in health disparities. CHIDS offers the benefit of renowned scholars in healthcare analytics, technology innovation, adoption, implementation, and design. The pool of talent, knowledge and expertise in DO&IT is acknowledged by several publications as a top-5 performer in research production worldwide; the Information Systems group is ranked in the top-10 worldwide by Businessweek and U.S. News and World Report. CHIDS pioneers in the study of digitally enabled health system transformation and is widely known for its thought leadership and research collaborations.
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. 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 petabyte volumes to arrive at sophisticated insights in real-time, drive impact wherever it is analytically identified best to intervene, and intuitively visualize data and information to inform business strategy and execution. Leveraging its platform, unparalleled proprietary data sets, 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 903,000 physicians, more than 385,000 clinical facilities, and 231 million Americans. For more information, visit www.inovalon.com.
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George Price (Investors)
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