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 Tenet Healthcare (NYSE:THC), a diversified
healthcare services organization that includes general acute care
and specialty hospitals, ambulatory surgery centers, urgent care
centers and other outpatient facilities, to provide data,
analytics, and technology platforms to benefit clinical quality
outcomes, utilization and financial performance within the
Post-Acute Care (PAC) services marketplace.
The current post-acute care marketplace is
rapidly evolving as federal and state governments and private
payers are changing the way they reimburse for healthcare services.
Bundled payments, accountable care organizations (ACOs), and
investments in home and community-based care services are only a
few of the initiatives that are transforming the way that
post-acute care providers engage with the broader care continuum to
serve their patients.
Inovalon will deploy Vantage CPS™, a
sophisticated cloud-based analytics engine, arming Tenet Healthcare
with actionable insight into patient care patterns among PAC
facilities. This transparency into discharge patterns, episodic
spending, length of stay and readmission rates will help Tenet
facilities better inform their patients about their post-acute care
alternatives and better engage with post-acute resources. Advanced
analytics leverage the Company’s proprietary datasets and the
Medicare 100 percent Standard Analytic Files for hospitals, skilled
nursing facilities, home health and hospice, inpatient
rehabilitation facilities and long-term acute care hospitals from
the Centers for Medicare & Medicaid Services (CMS) to track
interventions across multiple settings and follow beneficiaries as
they move through episodes of care enabling performance improvement
on key measures such as acute care readmission rates.
“As the healthcare landscape continues to adopt
models of value-based care, the sophistication of the technologies
needed to achieve meaningful and differentiated results has never
been more integral to success,” said Robert Wychulis, president of
Inovalon. “We are pleased to support Tenet Healthcare, an
innovative and value-focused company to harness the power of
advanced analytics capabilities supporting data-driven,
patient-specific and provider-specific interventions to drive
positive outcomes.”
The Vantage solution is being made available as
a modular, configurable component of the Inovalon ONE™ Platform.
Following the pending acquisition of ABILITY Network, Vantage will
be made available as an application within the myABILITY® software
platform.
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 a client base
approaching 500 healthcare organizations, Inovalon's platforms are
informed by data pertaining to more than 932,000 physicians, more
than 455,000 clinical facilities, and 240 million Americans. For
more information, visit www.inovalon.com.
Forward Looking Statements
Certain statements contained in this press
release constitute forward-looking statements within the meaning
of, and are intended to be covered by the safe harbor provisions
of, Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended.
All statements contained in this press release other than
statements of historical fact, including but not limited to
statements regarding the Company’s pending acquisition of ABILITY
Network (ABILITY), the roll-out of any product or capability, the
timing, performance characteristics and utility of any such product
or capability, and the impact of any such product or capability on
the healthcare industry, business strategy and plans, and
objectives for future operations, are forward-looking statements.
The words “believe,” “may,” “see,” “will,” “estimate,”
“continue,” “anticipate,” “assume,” “intend,” “expect,” “project,”
“look forward,” and similar expressions are intended to identify
forward-looking statements.
These forward-looking statements are subject to
a number of risks, uncertainties, and assumptions, which could
cause the future events discussed in this press release not to
occur and could cause actual results to differ materially and
adversely from those anticipated or implied in the forward-looking
statements. These risks, uncertainties, and assumptions include,
among others: the Company’s ability to successfully complete the
acquisition of ABILITY and the integration thereof; the ability to
innovate new services and adapt platforms and toolsets; the
successful implementation and adoption of existing and new
platforms and solutions, including the Inovalon ONE™ Platform,
Vantage CPS™ and the myABILITY® software platform; the possibility
of technical, logistical or planning issues in connection with the
Company’s deployment of the Company’s products, services and
technological advancements; and the efficacy of the Company’s
platforms and toolsets. Additional information is also set forth in
the Company’s Annual Report on Form 10-K for the year ended
December 31, 2017, filed with the SEC on February 21, 2018,
included under the heading Item 1A, “Risk Factors,” and in
subsequent filings with the SEC. The Company is under no duty to,
and disclaims any obligation to, update any of these
forward-looking statements after the date of this press release or
conform these statements to actual results or revised expectations,
except as required by law.
Contacts:Kim
Collinskcollins@inovalon.com
(301) 809-4000 x1473
George Price gprice@inovalon.com(301) 809-4000
x1190
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