BOWIE, Md. – June 12, 2013 – Inovalon, Inc., a leading provider of data-driven healthcare solutions, today announced the release of an IDC Health Insights industry brief, sponsored by Inovalon, titled “Health Insurance Exchanges: The Mandate for Data-Driven Strategies to Drive Quality Improvement and Financial Outcomes” (Document # HI241488, June 2013). The sponsored brief provided insight into the impact of healthcare reform regarding healthcare payer risk adjustment, quality improvement, Edge Server data submission, and compliance for the Health Insurance Exchange (HIX) Marketplace.
Mandated under the Affordable Care Act, the HIX Marketplace creates a number of significant opportunities and challenges for participating health insurance carries and their Qualified Health Plan (QHP) offerings. The new guaranteed issue and community rating requirements (and their effect on pricing), coupled with demands placed upon utilization, data reporting, quality of care, and consumer-responsiveness, necessitate that health plans leverage highly data-driven approaches to succeed in the complex HIX landscape.
“For health plans to effectively compete in the new Health Insurance Exchange Marketplace, they must understand the challenges of not only a more diverse member population, but also a more complex set of regulatory specifications,” said Dan Rizzo, Chief Innovation Officer at Inovalon. “Today’s robust technology innovations afford health plans the opportunity and resources required to gain the data-driven insights that are essential to improving the quality of care, outcomes for patients, and the economics for plans operating in the marketplace.”
“Healthcare payer organizations are in advanced stages of adopting risk management innovation strategies,” said Janice W. Young, Program Director, Payer IT Strategies at IDC Health Insights. “Today’s healthcare organizations should seek solutions that support innovative risk score accuracy and quality improvement programs powered by comprehensive, clinically intelligent analytics, and personalized interventions to drive patient and provider engagement.”
About Inovalon, Inc.
Inovalon, Inc. is a leading technology-enabled healthcare solutions provider focused on the importance of healthcare data and its ability to drive dramatic, objective improvement in clinical and quality outcomes, care management and financial performance throughout the healthcare community. Proprietary healthcare datasets, aggregation and analysis capabilities, combined with a national infrastructure of leading-edge technology, clinical prowess and deep human resources, empower Inovalon’s advanced generation of healthcare assessment and improvement through highly informed solutions. Driven by a mission to improve today’s healthcare landscape, the employees of Inovalon proudly apply care, ingenuity and dedication to delivering a new approach to healthcare touching more than 120 million Americans – one driven by data and insight – one resulting in meaningful action. Please visit www.inovalon.com for more information.
Jason Z. Rose
4321 Collington Road
Bowie, Maryland 20716
Feinstein Kean Healthcare, on behalf of Inovalon, Inc.