Inovalon Announces Agreement with Daiichi Sankyo, Inc. to Support Outcomes-Based Contracting
September 21 2017 - 7:55AM
Inovalon (NASDAQ:INOV), a leading technology company providing
advanced, cloud-based platforms empowering a data-driven
transformation from volume-based to value-based models across the
healthcare ecosystem, today announced that it has entered into an
agreement with Daiichi Sankyo, Inc., to understand the potential
role of abuse-deterrent formulations of opioid medications for
health plan engagement and support the development of
outcomes-based contracts that deliver value to patients, providers
and payers. Insights will be gathered through Inovalon’s
large-scale, real-world MORE2 Registry® dataset, advanced analytic
capabilities of the Inovalon ONE™ Platform, and Avalere’s combined
breadth of healthcare capabilities and expertise.
Opioid addiction is one of the most common
public health problems in the United States with more than two
million people suffering from substance use disorders related to
prescription opioid pain relievers. According to the National
Institute on Drug Abuse (NIDA), abuse and misuse of prescription
opioids costs our healthcare system $26 billion annually. While
abuse-deterrent technology is not expected to address all aspects
of the opioid epidemic, it is one of a variety of approaches to
address this complex problem.
“Daiichi Sankyo is committed to responsibly
bringing innovative medicines to patients in pain, and we believe
abuse-deterrent formulations are an important part of a
comprehensive approach to addressing the inappropriate use of
opioid medications,” said Ken Keller, president, administrative and
commercial, Daiichi Sankyo, Inc. “Our partnership with Inovalon and
Avalere will allow us to achieve innovative approaches to engage
health plans and fulfill this commitment.”
“We believe strongly in the benefits of
data-driven healthcare and the impact that it can bring to
improving desired outcomes,” said Keith Dunleavy, M.D., chief
executive officer of Inovalon. “We are pleased that our partnership
with Daiichi Sankyo, informed by Inovalon’s MORE2 Registry® dataset
and the advanced analytics capabilities of the Inovalon ONE™
Platform, provides an opportunity to expand the applications of our
capabilities into the important arena of abuse-deterrent
formulations of opioids.”
“Data and analytics are playing an increasingly
critical role in helping payers and providers navigate the shift to
quality and value-based care models,” said Dan Mendelson, president
of Avalere Health. “Applying data-driven insights to major issues
such as prescription opioid addiction will help to drive important
impact on care quality and, more importantly, patient and societal
outcomes.”
About Inovalon
Inovalon is a leading technology company
providing cloud-based platforms empowering a data-driven
transformation from volume-based to value-based models throughout
the healthcare industry. Through the Inovalon ONE™ Platform,
Inovalon brings to the marketplace a national-scale capability to
interconnect with the healthcare ecosystem on massive scale,
aggregate and analyze data in petabyte volumes to arrive at
sophisticated insights in real-time, drive impact wherever it is
analytically identified best to intervene, and intuitively
visualize data and information to inform business strategy and
execution. Leveraging its platform, unparalleled proprietary data
sets, and industry-leading subject matter expertise, Inovalon
enables the assessment and improvement of clinical and quality
outcomes 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®.” Providing
technology that supports nearly 500 healthcare organizations,
Inovalon's platforms are informed by data pertaining to more than
858,000 physicians, 377,000 clinical facilities, and more than 230
million Americans. For more information,
visit www.inovalon.com.
Contacts:
Kim CollinsPhone: 301-809-4000
x1473
kcollins@inovalon.com
George Price (Investors)Phone: 301-809-4000
x1190gprice@inovalon.com
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