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 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 customers, including all 25 of the top 25 U.S. health plans, all 25 of the top 25 global pharma companies, 24 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, 594,000 clinical facilities, 348 million Americans, and 68 billion medical events. For more information, visit Inovalon’s website.