Inovalon's cloud-based platform supports a highly differentiated use of data and analytics to optimize clinical outcomes and healthcare economics across the healthcare ecosystem
SANTA CLARA, Calif., Nov. 5, 2019 /CNW/ -- Based on its recent analysis of the North American data analytics solutions market for healthcare, Frost & Sullivan today recognized Inovalon (Nasdaq: INOV), a provider of cloud-based platforms empowering data-driven healthcare, with the 2019 North America Company of the Year Award. In particular, Inovalon's technology platform was determined to be highly differentiated in its ability to inform and enable better care, efficiency, and financial performance across the healthcare landscape due to its unparalleled proprietary datasets and associated analytics capabilities.
Inovalon's clients span the United States (US) healthcare ecosystem, from payers and providers to pharmacy and life sciences companies—including 24 of the top 25 largest US health plans, 22 of the top 25 global pharmaceutical companies, 19 of the top 25 US healthcare provider systems, more than 50,000 provider organizations, and a number of industry-leading pharmacy, medical device manufacturers, and other healthcare-related organizations. Leveraging what is referred to as the Inovalon ONE® Platform, an integrated cloud-based platform that brings together national-scale connectivity, proprietary datasets, advanced analytics, and data-driven point-of-care intervention tools, Inovalon empowers its clients' achievement of better healthcare for hundreds of millions of patients.
"Inovalon stands out in the marketplace for offering analytics enpowered by extreme-scale data covering nearly 48 billion medical events that spans decades of curation. The company's dataset is unique in the industry today. Unlike competitors that purchase and receive data in a de-identified format, Inovalon's data is primary-sourced, longitudinally matched, and identifiably links to its analytical processes," said Supriya Lala Kundu, best practices industry analyst at Frost & Sullivan. "Furthermore, Inovalon's real-time connectivity, advanced analytics and data-driven point-of-care tools and solutions empower meaningful impact, delivering timely, actionable insight into highly granular clinical quality details. These insights inform real-time strategy development and refinement to enable greater care quality and improved patient outcomes that exceed any alternative that Frost & Sullivan was able to identify in the marketplace."
Each year, Frost & Sullivan presents a Company of the Year award to the organization that demonstrates excellence in terms of growth strategy and implementation in its field. The award recognizes a high degree of innovation with products and technologies, and the resulting leadership in terms of customer value and market penetration.
Frost & Sullivan Best Practices awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis, and extensive secondary research to identify best practices in the industry.
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About the Inovalon ONE® Platform
The Inovalon ONE® Platform is an integrated cloud-based platform of nearly 100 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, referred to as a Module, is informed by the data of billions of medical events within Inovalon's proprietary datasets. Combinations of 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 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 clients, including 24 of the top 25 U.S. health plans, 22 of the top 25 global pharma companies, 19 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 980,000 physicians, 546,000 clinical facilities, 287 million Americans, and 48 billion medical events. For more information, visit www.inovalon.com.
Kim E. Collins
Senior Vice President, Inovalon
SOURCE Frost & Sullivan