Inovalon Launches Industry’s First Converged Risk Adjustment and Quality Measurement Analytics SaaS Solution
With The Inovalon Converged Solution, Health Plans Can More Efficiently and Effectively Predict and Resolve Comprehensive Care Needs for Members at an Individual, Cohort, or Plan Level
BOWIE, Md. – March 7, 2022 – Inovalon, a leading provider of cloud-based platforms empowering data-driven healthcare, announces the availability of Inovalon Converged Risk Analytics, the industry’s first SaaS solution to provide health plans self-service access to both risk adjustment analytics and quality measurement analytics through a single SaaS platform. This enables health plans to more quickly, effectively, and efficiently predict and resolve a more holistic set of care needs for members at an individual, cohort, or plan level through one converged solution.
The launch of Converged Risk Analytics enables any customer utilizing Inovalon’s industry-leading QSI-XL® clinical quality analytics solution to easily extend their capabilities to also compute risk score accuracy analytics across any membership population quickly and cost effectively. As a result of both risk and quality analytics being undertaken in one integrated solution, health plans avoid otherwise duplicate data integration and operating expenses; achieve a more comprehensive view of each patient and their unique, often complex care needs; and achieve a more integrated, efficient, and effective intervention plan. Health plans using the converged solution can more quickly achieve superior clinical quality and risk score accuracy goals while saving up to 20% of program costs through the avoidance of duplicate, inefficient, or unnecessary operation and intervention costs.
“Lack of integration across quality and risk adjustment programs leads many health plans to overspend on labor and technology in their efforts to improve member health,” said Jacques Boschung, president and general manager of Inovalon’s payer business. “By identifying care gaps using data and analytics only available through our platform, health plans can proactively intervene for the benefit of the entire plan and, most importantly, each member.”
Powered by the Inovalon ONE® Platform and its massive clinical and claims datasets, Converged Risk Analytics is dynamic and continuously improving, providing self-service access to actionable information that is reliable, accurate, and consistent. Health plans benefit from higher clinical quality and risk score accuracy, more precise understanding of disease burden across populations and an ability to quickly close gaps in care, all coordinated across their programs, systems, and processes in strict compliance with relevant regulatory guidelines.
Inovalon is a leading provider of cloud-based software solutions empowering data-driven healthcare. The Inovalon ONE® Platform brings together national-scale connectivity, real-time primary source data access, and advanced analytics into a sophisticated cloud-based platform empowering improved outcomes and economics across the healthcare ecosystem. The company’s analytics and capabilities are used by more than 20,000 customers and are informed by the primary source data of more than 71 billion medical events across one million physicians, 622,000 clinical settings, and 359 million unique patients. For more information, visit www.inovalon.com.