Bowie, Md. – Feb. 18, 2016 – Inovalon (Nasdaq: INOV), a leading technology company providing advanced, cloud-based analytics and data-driven intervention platforms to the healthcare industry, today announced it has entered into a multi-year agreement with Kindred Healthcare, Inc. (NYSE: KND), the nation’s largest provider of Post-Acute Care (PAC) services, to bring the power of data, analytics, and real-time healthcare platforms to benefit clinical quality outcomes, utilization and financial performance within the Post-Acute Care (PAC) services marketplace.
The engagement will harness Inovalon’s extensive datasets, advanced analytics, industry connectivity capability, and clinical decision support platforms, in combination with Avalere’s extensive experience in healthcare strategy, financial performance, and PAC dynamics. The resulting PAC platform solution will bring the application of advanced predictive analytics to support the strategic operation of Kindred’s business in real time at the point of care, supporting patient quality, utilization efficiency, operational insight and financial performance for Kindred, its clients and the patients utilizing post-acute care services.
“Kindred is committed to bringing the industry’s leading post-acute care solutions to the marketplace,” said Benjamin A. Breier, president and chief executive officer of Kindred Healthcare. “We believe that leveraging data, advanced analytics and real-time decision support platforms is key to delivering on this focus. We are pleased to be working with the combined capabilities of Inovalon and Avalere as our partners and look forward to these capabilities supporting Kindred’s differentiation for this important segment of the healthcare market.”
“Post-acute care is the fastest growing segment of healthcare in the United States and Kindred is the largest provider of these services,” said Keith Dunleavy, M.D., chief executive officer of Inovalon. “As the trend toward quality and value-based care models increases, the importance of data-driven insights has never been more critical to success. We are excited to be working with Kindred, a leader in the post-acute care space, to support their goals within this important healthcare segment.”
“As Medicare and Medicaid payers evolve towards bundling and capitated arrangements, health plans and providers are increasingly demanding post-acute care solutions that deliver quantified value,” said Dan Mendelson, president of Avalere Health, an Inovalon Company. “Our solutions will not only help support Kindred’s focus on achieving a more data-driven approach to post-acute care quality and cost efficiency, but also aid in the implementation of sophisticated approaches to value-based contracting.”
About Kindred Healthcare, Inc.
Kindred Healthcare, Inc., a top-95 private employer in the United States, is a FORTUNE 500 healthcare services company based in Louisville, Kentucky with annual revenues of approximately $7.2 billion1. At September 30, 2015, Kindred through its subsidiaries had approximately 102,200 employees providing healthcare services in 2,723 locations in 47 states, including 95 transitional care hospitals, 18 inpatient rehabilitation hospitals, 90 nursing centers, 20 sub-acute units, 626 Kindred at Home home health, hospice and non-medical home care sites of service, 101 inpatient rehabilitation units (hospital-based) and a contract rehabilitation services business, RehabCare, which served 1,773 non-affiliated sites of service. Ranked as one of Fortune magazine’s Most Admired Healthcare Companies for six years, Kindred’s mission is to promote healing, provide hope, preserve dignity and produce value for each patient, resident, family member, customer, employee and shareholder we serve. For more information, go to www.kindredhealthcare.com. You can also follow us on Twitter and Facebook.
1. Revenues were computed by combining the twelve months ended December 31, 2014 data for Kindred, Gentiva Health Services, Inc., which was acquired by the Company on February 2, 2015, and Centerre Healthcare Corporation, which was acquired by the Company on January 1, 2015.
Inovalon is a leading technology company that combines advanced, cloud-based data analytics, and data-driven intervention platforms to achieve meaningful insight and 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, data-driven intervention platforms, and deep subject matter expertise deliver a seamless, end-to-end capability that brings 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 bringing to bear the unique capabilities to resolve them. Providing technology that supports hundreds of healthcare organizations in 98.2% of U.S. counties and Puerto Rico, Inovalon’s cloud-based analytical and data-driven intervention platforms are informed by data pertaining to more than 777,000 physicians, 266,000 clinical facilities, and more than 127 million Americans. Through these capabilities, and those of its subsidiary Avalere Health, Inc., which offers data-driven advisory services and business intelligence to more than 200 pharmaceutical and life sciences enterprises, Inovalon is able to drive high-value impact, improving quality and economics for health plans, ACOs, hospitals, physicians, consumers and pharma/life-sciences researchers. For more information, visit www.inovalon.com.
Kim E. Collins
Phone: 301-809-4000 x1473