Inovalon Announces Inaugural Sustainability Report
Company Augments Annual Report with Assessment of Environmental, Social, and Governance (ESG) Elements of Sustainability
BOWIE, Md. – April 13, 2021 – Inovalon (Nasdaq: INOV), a leading provider of cloud-based platforms empowering data-driven healthcare, today announced that it has augmented its 2020 Annual Report with the provision of its inaugural Sustainability Report for the period that includes the Company’s environmental, social and governance (ESG) priorities. The report highlights the Company’s mission to enable a more efficient healthcare ecosystem that benefits individuals, society as a whole, and the environment.
“At the very core of our mission is the provision of capabilities that empower greater efficiency and impact across the healthcare ecosystem,” said Keith Dunleavy, M.D., chief executive officer of Inovalon. “Not only is our work dedicated to the improvement of care and its sustainability for hundreds of millions of individuals, but we also believe that meeting our responsibilities to our stakeholders means taking care of our clients, associates, the communities we operate in, the environment, and the deeply interconnected world we all call home.”
As Inovalon continues its path of significant growth, the Company aims to be proactive in developing and executing best practices in all areas of significant importance across the Company. Examples include the building of an increasingly modern workplace that encourages and celebrates diversity, equity, and inclusion; the presence of strong governance and oversight bodies, such as Inovalon’s strong Board of Directors and associated oversight governance Committees; a Lead Independent Board Member structure, the Corporate Security Council, and the Executive Promotion Committee; the Company’s proactive stance on environmental responsibility; and its long history of supporting many worthy community programs though financial support and associate volunteer hours.
Inovalon’s Sustainability Report highlights the following elements of its focus on achieving and supporting the goals of a sustainable enterprise:
- Commitment to Associates: Recognition that success depends in large part on the ability to recruit, develop and retain a qualified, productive, and engaged workforce
- Diversity, Equity and Inclusion: Development and mentoring opportunities to ensure everyone can be their authentic selves and their voices be heard
- Rewards and Associate Engagement: Competitive compensation and benefits package including incentive compensation tied to both company and individual performance, parental leave, tuition reimbursement, professional development reimbursement, retirement benefits, and an associate discounted stock purchase plan
- Ethical Behavior: Strict accordance with a Code of Conduct and Ethics that establishes the way customers, associates, partners, and other community members are to be treated
- Data Stewardship and Security: Assurance that all data is secure; there is transparency into how the data is used, processed, managed and maintained; and that it is compliant with applicable agreements, regulations, and laws
- Governance and Oversight: Implementation of best-practices standards, charters, and processes to ensure adherence to laws, regulatory requirements, industry oversight body standards, and the Company’s Code of Conduct and Ethics
- Commitment to the Environment: Commitment to the enablement of more meaningful healthcare interactions to reduce inefficiency, unnecessary use, waste and associated environmental impact of the healthcare ecosystem, as well as the Company’s operating and technology infrastructure impact
The report follows the release of the Company’s Annual Report earlier this week. To learn more and download the full report, please visit www.inovalon.com/about/sustainability.
Inovalon 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 all 25 of the top 25 U.S. health plans, 22 of the top 25 global pharma companies, 19 of the top 25 U.S. healthcare provider systems, and many of the leading pharmacy organizations, device manufacturers, and other healthcare industry constituents, Inovalon’s technology platforms and analytics are informed by data pertaining to more than one million physicians, 574,000 clinical facilities, 332 million Americans, and nearly 61 billion medical events. For more information, visit www.inovalon.com.