BOWIE, Md. – April 10, 2014 – Inovalon, Inc., a leading technology company providing advanced analytics and data-driven solutions to the healthcare industry, today announced the acceleration of big data processing empowering Healthcare Effectiveness Data and Information Set (HEDIS®) measurement and reporting through parallel processing, responsive scalability, and seamless data integration. As a result, Inovalon clients will see dramatically reduced cycle times allowing for complex measure calculations at speeds not seen before by the industry.
In partnership with leading health plans across the United States and Puerto Rico, Inovalon covers more than 950 National Committee for Quality Assurance (NCQA) Interactive Data Submission System (IDSS) and regulatory submissions, encompassing more than 60% of the nation’s outsourced quality measurement and reporting. QSI®-XL, Inovalon’s HEDIS Advantage™ platform, provides data loads at unparalleled speeds to support prompt project start, big data analytics to inform HEDIS measurement flowcharts, and accelerated processing power.
With the rising role of clinical and quality outcomes in Medicare Advantage, managed Medicaid, the commercial Health Insurance Exchange (HIX) Marketplace, and accountable care organizations (ACOs), sophisticated capabilities in analytical platforms have become critical within the healthcare landscape. From health plans and regulatory organizations, to provider groups and employers, the ability to efficiently and rapidly integrate and analyze large population sets of clinical and quality outcomes data has become critical. Adding predictive analytics and advanced reporting capabilities has materially increased the compute sophistication demand within these platforms. Applying these capabilities in reporting and predictive fashion in near-real time adds a level of functionality that now allows healthcare organizations to not only measure and report on quality, but proactively and predictably improve it with a strong eye on intervention effectiveness, accountability, and efficacy. The advancements in data aggregation, compute power, and reporting is changing how healthcare operates.
“Big data processing for HEDIS and other quality outcomes measurement and reporting involves high-volume, high-velocity, and high-variety informational assets that support the growing needs of healthcare organizations,” said Dan Rizzo, Chief Innovation Officer at Inovalon. “This leading-edge information processing supports the new era of healthcare needs, demonstrating Inovalon’s focus on improving outcomes through the next generation of technology-enabled solutions. We are very proud to be bringing these unmatched capabilities to the market, benefiting the many partners which we serve.”
In partnership with Pivotal, the software company at the intersection of big data, PaaS, and agile development, a spin-off of EMC Corporation (NYSE:EMC), a global leader in enabling businesses and service providers to transform their operations and deliver IT as a service, Inovalon’s advanced big data analytics capabilities will result in the next generation of functional improvements across its portfolio of solutions, including clinical and quality outcomes and healthcare data insights.
“Applications for big data are a critical emerging trend for companies looking to improve utility and increase value from their data-driven analytics,” said Bill Cook, President and Chief Operating Officer at Pivotal. “We have undertaken extensive partnered analysis of the Inovalon analytical platform and are impressed with the analytical capability they possess to serve the healthcare space. We are pleased to partner with Inovalon as they continue to deliver truly market-leading innovations that are driving industry transformation.”
“Inovalon’s industry-leading datasets offer a differentiating capability for our products and a competitive advantage for our clients,” said Joe Rostock, Chief Technology Officer at Inovalon. “We continue to make significant investments in big data technologies providing for the expansion of complex algorithms across large datasets, while facilitating full traceability of results to support HEDIS audit requirements.”
Inovalon is a NCQA beta test partner for the HEDIS 2014 Measure Certification process. This is Inovalon’s thirteenth year working with NCQA as a beta test partner for HEDIS Measure Certification.
About Inovalon, Inc
Inovalon is a leading data analytics technology company that combines advanced data analytics with highly targeted interventions to achieve meaningful 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, and deep subject matter expertise deliver a seamless, end-to-end platform of technology and nationwide operations that bring 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 also bringing to bear the unique capabilities to resolve them. Touching more than 540,000 physicians, 220,000 clinical facilities, and more than 140 million Americans, this differentiating combination provides a powerful solution suite that drives high-value impact, improving quality and economics for health plans, ACOs, hospitals, physicians, patients, and researchers. For more information visit www.inovalon.com.
Kim E. Collins
4321 Collington Road
Bowie, Maryland 20716
Phone: 301-809-4000 x1473
Feinstein Kean Healthcare, on behalf of Inovalon, Inc.