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|Founded||Michigan, U.S. (1998 )|
|Founders||Keith Dunleavy, M.D.|
Inovalon, Inc. is a data analytics technology company based in Bowie, Maryland. It combines advanced cloud-based data analytics with targeted interventions to improve clinical and quality outcomes, utilization, and financial performance in the field of healthcare.
In 2008 the company continued to grow with 1,900 clinicians and statisticians. Its process of reviewing claims data, lab data, and other figures to see what kind of care patients were given and how much it cost, was used to advise health plans how to cut expenses. The company gained new investors during this period because of its established business model and the importance of data in the field of healthcare.
In early 2012, MedAssurant expanded its reach by entering into the research arena. Medassurant researchers partnered with other industry researchers to conduct a study on Hospital Readmission Rates in Medicare Advantage Plans. The objective was to compute a benchmark for tracking readmission rates among patients enrolled in Medicare’s private comprehensive Medicare Advantage (MA) plans and to develop preliminary comparisons with the fee-for-service (FFS) readmission rates. The study was published by The American Journal of Managed Care.
MedAssurant changed its name to Inovalon in June 2012.
In 2013, national deals integrating analytics into the point of care were announced with retail-based clinical platforms such as Walgreens’ Healthcare Clinics and electronic health record (EHR) companies such as Allscripts, Greenway, and NeoDeck. In addition, Inovalon released a research study titled “The Impact of Dual Eligible Populations on CMS Five-Star Quality Measures and Member Outcomes in Medicare Advantage Health Plans".”
In 2014 Inovalon expanded its partnership with Walgreens to implement its patient assessment tool and technology platform, Electronic Patient Assessment Solution Suite (ePASS®), to support improvements in care, quality and risk score accuracy programs across more than 400 Healthcare Clinic at select Walgreens locations. With the implementation, Inovalon’s analysis of more than 8.3 billion medical events brings analytic insights to Healthcare Clinic programs.
Health plans operate under market forces to deliver high quality care with accuracy in their risk score and utilization and compliance. The financial performance for medical practitioners and Medicare Advantage, managed Medicaid, commercial health insurance exchanges, and accountable care organizations is tied to quality and outcomes performance. Inovalon brings big data analytics to the point of care, leveraging interconnectivity capabilities and enabling providers to change healthcare outcomes.
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