Inovalon and the University of Maryland Center for Health Information & Decision Systems Collaborate on Machine Learning and ...
November 20 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 a collaboration with the
University of Maryland’s Center for Health Information and Decision
Systems (CHIDS) as part of its expanding applications of machine
learning and neural network solutions within the predictive
analytic Components of the Inovalon ONE™ Platform.
Through this engagement, CHIDS will join
Inovalon’s ongoing development initiative focused on Natural
Language Processing (NLP), Machine Learning (ML) and Deep Learning
(DL) solutions utilized within the Inovalon ONE™ Platform.
Leveraging these technologies, and the large-scale compute
environments available within the Inovalon ONE™ Platform, Inovalon
has been advancing its capability to perform ultra-high-speed
analysis of unstructured data contained within raw clinical
documentation such as that found within Electronic Health Record
platforms. Integrating these capabilities with Inovalon’s
national-scale EHR connectivity and MORE2 Registry® dataset (which
contains data pertaining to 231 million patients and 34 billion
medical events) empowers the real-time analysis of combined
clinical data and claims-based data at ultra-high speeds. These
capabilities enable dramatic improvements in scale, breadth and
depth of analysis, speed to insight, and efficiency in processes
where both clinicians and traditional analysts would otherwise be
needed.
“We are at a tipping point for harnessing
diverse data sources and utilizing advanced artificial intelligence
capabilities to transform healthcare in ways we had not imagined in
the past,” said Ritu Agarwal, participating researcher and the
Robert H. Smith School’s senior associate dean for research. “The
ability to collaborate with an industry leader such as Inovalon
provides further validation of application and measurable impact of
this initiative.”
“We are very pleased to be collaborating with
UMD’s CHIDS, pioneers in the study of digitally enabled health
system transformation and known for its thought leadership and
research collaborations,” said Eric Sullivan, senior vice
president, innovation and data strategies at Inovalon. “Leveraging
insights from the collaboration with UMD, Inovalon will continue to
deliver innovative industry-leading capabilities within the
Inovalon ONE™ Platform as we focus on delivering highly
differentiated capabilities to the healthcare marketplace.”
About the Inovalon ONE™
Platform
The Inovalon ONE™ Platform is an integrated
cloud-based platform of more than 80 individual proprietary
technology toolsets able to be rapidly configured to empower the
operationalization of large-scale data-driven and value-based
healthcare initiatives. The Platform brings to the marketplace a
highly extensible, national-scale capability to interconnect with
the healthcare ecosystem, aggregate and analyze data in petabyte
volumes, arrive at sophisticated insights in real time, drive
meaningful impact wherever it is analytically identified best to
intervene, and intuitively visualize data and information to inform
business strategy and execution.
About The Center for Health Information
and Decision Systems (CHIDS) The Center for Health
Information and Decision Systems (CHIDS) is an academic research
center based in the Department of Decision, Operations &
Information Technology (DO&IT) at the Robert H. Smith School of
Business that collaborates closely with industry, government, and
other key health system stakeholders. CHIDS' research seeks to
understand how digital technologies can be more effectively
deployed to address outcomes such as patient safety, healthcare
quality, efficiency in healthcare delivery, and a reduction in
health disparities. CHIDS offers the benefit of renowned scholars
in healthcare analytics, technology innovation, adoption,
implementation, and design. The pool of talent, knowledge and
expertise in DO&IT is acknowledged by several publications as a
top-5 performer in research production worldwide; the Information
Systems group is ranked in the top-10 worldwide by Businessweek and
U.S. News and World Report. CHIDS pioneers in the study of
digitally enabled health system transformation and is widely known
for its thought leadership and research collaborations.
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, 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 903,000 physicians, more
than 385,000 clinical facilities, and 231 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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