BOWIE, Md. and TAMPA, Fla., Sept. 11, 2015 /PRNewswire/ -- WellCare Health Plans, Inc. (NYSE: WCG), a leading provider of managed care services for government-sponsored health care programs, and Inovalon (NASDAQ: INOV), a leading technology company providing advanced, cloud-based data analytics and data-driven intervention platforms, today announced a five-year agreement to improve member health utilizing Inovalon's sophisticated quality analytics platform.
As the size of insured populations grow, the number and complexity of clinical outcomes analyses expand and require better data integration, management and analytics to help improve care delivery and efficiencies.
Inovalon's Quality Spectrum Insight (QSI®-XL) is a cloud-based, big-data environment that is able to process hundreds of discrete quality measurement analyses across millions of patients at an unprecedented speed that nears real-time processing. This enables Inovalon to uniquely identify gaps in care, quality, data integrity and financial performance – while also identifying potential solutions.
"WellCare is focused on improving the health of our members, while being responsible stewards of taxpayer money," said Steven Goldberg, M.D., M.B.A., senior vice president and chief medical officer at WellCare. "This collaboration will help us to deliver on our priorities by identifying trends and treatment efficacies and then quickly communicating the analyses across our vast provider network to efficiently drive superior health outcomes for our members."
"We are proud to work closely with WellCare to push the envelope of real-time healthcare analytics," said Keith Dunleavy, M.D., chief executive officer of Inovalon. "As the health care industry becomes increasingly focused on quality and value, this agreement positions us to be at the forefront of delivering high-quality care driven by innovative, high-quality analytics."
About WellCare Health Plans, Inc.
Headquartered in Tampa, Fla., WellCare Health Plans, Inc. (NYSE: WCG) focuses exclusively on providing government-sponsored managed care services, primarily through Medicaid, Medicare Advantage and Medicare Prescription Drug Plans, to families, children, seniors and individuals with complex medical needs. WellCare serves approximately 3.8 million members nationwide as of June 30, 2015. For more information about WellCare, please visit the company's website at www.wellcare.com or view the company's videos at https://www.youtube.com/user/WellCareHealthPlan.
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 769,000 physicians, 261,000 clinical facilities, and more than 123 million Americans providing a powerful solution suite that drives 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.
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SOURCE WellCare Health Plans, Inc.