BOWIE, Md., Oct. 23, 2018 (GLOBE NEWSWIRE) -- Inovalon (Nasdaq:INOV), a leading technology company providing advanced, cloud-based platforms empowering data-driven healthcare, today announced that clients utilizing Inovalon’s quality improvement solution suite realized a material positive increase in their Centers for Medicare & Medicaid Services (CMS) Five-Star Quality Ratings when compared to organizations not utilizing Inovalon’s capabilities.
Inovalon’s clients outperformed the Medicare Advantage market for the fifth year in a row, realizing an average of a half-star increase in their 2019 Star Ratings. These results reflect data released by CMS on October 10, 2018 pertaining to all Medicare Advantage health plans, which revealed that on a year-over-year basis, Star Ratings scores decreased by 0.39% for the average Medicare Advantage health plan on an enrollment-weighted basis. Removing Inovalon’s clients from the national results reveals an average decline amongst non-Inovalon health plans equaling negative 1.64%. On the contrary, health plans engaged with Inovalon’s Quality Spectrum® solution suite realized an average increase of 2.78%, representing an improvement of one half a Star point compared to the year-ago period. The achievement of higher Star Ratings reflects the ability of the Inovalon ONE® Platform to empower the superior delivery of care by health plans, benefitting their members, and resulting in measurable economic performance impact driven by incentive programs for the achievement of specific quality measures.
Inovalon’s clinical quality data aggregation, advanced analytics, integrated outreach, and data visualization toolsets, now powered by Inovalon’s cloud native Elastic Container Technology (ECT™) compute environment and part of the Inovalon ONE® Platform, provides health plans with highly advanced technology to gain timely insight into highly granular clinical quality details resulting in improved quality care for patients. Able to analyze patient-level, provider-level, and facility-level data at high speed to achieve greater insight and improvement in clinical outcomes measures, the Inovalon ONE® Platform is the nation’s most widely used healthcare quality data analysis and improvement solution.
“Achieving quality excellence requires the deployment of a comprehensive, year-round data-driven strategy powered by innovative technologies and subject matter expertise to better understand and engage with patient populations to address gaps in care and drive meaningful improvements in quality performance,” said Mike Burgin, chief product officer at Inovalon. “We are pleased with the strong performance of our clients who are committed to leveraging industry leading technologies that drive measurable impact in their overall 2019 quality performance.”
The national Star Ratings performance program, instituted by CMS, measures and reports on a wide range of clinical and quality outcomes pertaining to members and health plans across the United States. The quality measures addressed are utilized by federal and state programs to determine quality scoring and associated incentives and penalties for such programs as CMS’ Medicare Advantage Five-Star Quality Rating System, the U.S. Department of Health and Human Services’ (HHS) Quality Ratings System (QRS) for Affordable Care Act (ACA) plans, and state-based Managed Medicaid measurement programs. Additionally, Inovalon solutions support physician-based measurement programs such as those created under the Medicare Access and CHIP Reauthorization Act’s (MACRA) Quality Payment Program, Accountable Care Organization (ACO) initiatives, and other quality outcomes-based incentive programs.
About the Inovalon ONE® Platform
The Inovalon ONE® Platform is an integrated cloud-based platform of more than 80 individual proprietary technology toolsets and deep data assets able to be rapidly configured to empower the operationalization of large-scale, data-driven healthcare initiatives. Each proprietary technology toolset is referred to as a Component, which are grouped into Modules, and informed by the data of billions of medical events within Inovalon’s proprietary datasets. Combinations of Components and Modules are configured to empower highly differentiated solutions for client needs quickly and in a highly scalable fashion. The flexibility of the modular design of the Platform enables clients to integrate the capabilities of the Platform with their own internal capabilities or other third-party solutions. The Platform brings to the marketplace a highly extensible, national-scale capability to interconnect with the healthcare ecosystem on a massive scale, aggregate and analyze data in petabyte volumes, arrive at sophisticated insights in real-time, and drive meaningful impact wherever it is analytically identified best to intervene and intuitively visualize data and information to inform business strategy and execution.
Inovalon is a leading technology company providing 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 data sets, 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 clients, including 19 of the top 25 U.S. health plans and 22 of the top 25 global pharma companies, Inovalon's technology platforms and analytics are informed by data pertaining to more than 943,000 physicians, 499,000 clinical facilities, 252 million Americans, and 39 billion medical events. For more information, visit www.inovalon.com.