BOWIE, Md., June 9, 2015 (GLOBE NEWSWIRE) -- Inovalon (Nasdaq: INOV ), a leading technology company providing advanced cloud-based analytics and data-driven intervention platforms to the healthcare industry, has announced a new multi-year agreement with Piedmont Community Health Plan, a provider-based managed healthcare organization, to support strong quality and financial performance for their Medicare Advantage population.
Inovalon has implemented its iPORT ® data integration toolset to rapidly integrate Piedmont Community Health Plan's multiple datasets into Inovalon's healthcare data lake environment. Upon arrival within the environment, multiple analytics platforms are thereafter being applied to achieve both retrospective and prospective insight across initiatives focused on quality improvement, risk score accuracy, utilization efficiency, and both data reporting and compliance. Leveraging Inovalon's data-driven intervention platform providing point-of-care decision support, directly connected EHR systems, and other patient, provider and facility connectivity capabilities, the insights garnered from these analytics are transformed into actions and impact resulting in improvements across these initiatives for Piedmont's providers and their members.
"Inovalon's industry-leading technologies offer us an impressive array of capabilities which we could not find in any other single integrated platform," said David Brady, president and chief executive officer of Piedmont Community Health Plan. "As a provider-based organization, implementing a holistic, data-driven approach to the patient, Inovalon's solution not only gains us valuable insight and improvement capabilities, but also does so in a highly efficient way."
"The physician and hospital-based design of Piedmont is clearly a winning equation," said Robert Wychulis, Inovalon's president. "As provider-centric models continue to show strong success for patients under the marketplace's growing focus of value and quality being the drivers of healthcare, we are very pleased to be partnered with impressive organizations such as Piedmont Community Health Plan."
About Piedmont Community Health Plan
As Central Virginia's very own managed healthcare organization, Piedmont Community Health Plan is dedicated to providing its members with access to medical care that represents the highest standards for quality and efficiency. We operate on the principles that your personal physician, not out-of-town insurance administrators, should manage your healthcare and that there should be close cooperation between local healthcare providers, patients and employers. As one the fastest growing healthcare plans in the region, we provide coverage for more than 41,000 employees and family members in Central Virginia. Our provider network includes more than 98 percent of the area's physicians, other healthcare professionals and the full resources of the Centra system. We offer two basic plan designs to local large or small employers: Point of Service (POS) plans and Preferred Provider Organization (PPO) plans. These plan designs are offered through a choice of funding arrangements. Self-insured arrangements are provided through the parent company, Piedmont Community Health Plan. Fully insured arrangements are provided through our wholly owned subsidiary, Piedmont Community HealthCare. All utilize the same Piedmont Community Health Plan network of providers.
About Inovalon
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 763,000 physicians, 257,000 clinical facilities, and more than 121 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 .
Inovalon Kim E. Collins 4321 Collington Road Bowie, Maryland 20716 Phone: 301-809-4000 Greenough, on behalf of Inovalon Andrea LePain Phone: 617-275-6526
