Inovalon ONE® Platform Selected by Walmart
July 23 2020 - 7:55AM
Inovalon (Nasdaq: INOV), a leading provider of cloud-based
platforms empowering data-driven healthcare, today announced a
long-term engagement with Walmart’s Specialty Pharmacy business
(NYSE: WMT) to provide cloud-based capabilities through the
Inovalon ONE® Platform as part of its data-driven strategy to
improve outcomes and economics for its customers.
The high-complexity and high-cost nature of
specialty pharmacy stands to benefit significantly from the
capabilities enabled through the Inovalon ONE® Platform. Through
the implementation of ScriptMed® Cloud, a software-as-a-service
(SaaS) cloud offering configured to address the unique needs of
specialty pharmacy demands, the Inovalon ONE® Platform’s
connectivity, supplemental clinical data, and process-specific
analytics automate otherwise labor-intensive processes,
pre-populate relevant clinical data, seamlessly apply appropriate
care protocol analytics, and streamline operational process flows –
ultimately enabling improvements in quality of care and operating
expense efficiency at scale.
The Inovalon ONE® Platform will facilitate
coordination of specialty medication dispensing from Walmart’s
Specialty Pharmacy and available across Walmart’s extensive network
of thousands of retail pharmacies, enabling Walmart in helping its
customers achieve their best health, decrease prescription
time-to-fill, lower costs-to-fill, and enhance key operational
flexibilities and strategic insights key to very-large-scale
operations.
“Our specialty pharmacy mission is to provide a
flexible, dual-channel, patient-centric model that fosters positive
clinical outcomes, great customer experiences, and everyday low
price. Our patient approach is personalized and caring – designed
to empower and inspire patients to choose healthy behaviors and
live better,” said Mike Adloo, Specialty Lead health and wellness,
Walmart. “Inovalon’s capabilities in the specialty pharmacy
market will play an integral role in support of our mission –
delivering the best possible quality outcomes and experience for
our patients while lowering their costs.”
“Specialty pharmacy is a uniquely high-value
segment of the healthcare ecosystem that is of increasing
importance to payers, pharmaceutical companies and patients alike.
The unique combination of our platform’s capabilities is highly
differentiated within the marketplace, and a true thrill to bring
to bear for such an industry leader as Walmart,” said Keith
Dunleavy, M.D., chief executive officer of Inovalon. “Their clear
focus on the customer, their experience, their outcomes, and their
costs is remarkable.”
About ScriptMed® Cloud
ScriptMed® Cloud is the next generation
technology for specialty patient care, empowered by the latest and
most advanced capabilities of the Inovalon ONE® Platform. These
advancements include increased modularity, high-speed cloud-based
compute, multi-stakeholder workflows, real-time healthcare
ecosystem connectivity, advanced analytics and enhanced data
visualization capabilities, and leverage Inovalon’s massive
datasets. ScriptMed® Cloud delivers differentiated value in
the specialty market, meaningfully reducing time-to-fill, reducing
costs and error rates, while empowering advanced functionality,
greater flexibility, operational efficiency, and a focus on
clinical and quality outcomes, delivering impactful savings and
financial benefits for the specialty pharmacy marketplace and the
patients who are served. ScriptMed® Cloud is a cloud native
architecture provided to clients in a pure software-as-a-service
(SaaS) offering model.
About the Inovalon ONE®
Platform
The Inovalon ONE® Platform is an integrated
cloud-based platform of nearly 100 individual proprietary
technology toolsets and deep data assets able to be rapidly
configured to empower the operationalization of large-scale,
data-driven healthcare initiatives. Each proprietary technology
toolset, referred to as a Module, is informed by the data of
billions of medical events within Inovalon’s proprietary datasets.
Combinations of Modules are configured to empower highly
differentiated solutions for client needs quickly and in a highly
scalable fashion. The flexibility of the Platform’s modular design
enables clients to integrate the Platform capabilities with their
own internal capabilities or other third-party solutions. The
Platform brings to the marketplace a highly extensible,
national-scale capability to interconnect with the healthcare
ecosystem on a massive scale, aggregate and analyze data in
petabyte volumes, arrive at sophisticated insights in real time,
and drive meaningful impact wherever it is analytically identified
best to intervene and intuitively visualize data and information to
inform business strategy and execution.
About Inovalon
Inovalon is a leading provider of
cloud-based platforms empowering data-driven healthcare. 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 real time, and
empower the application of resulting insights to drive meaningful
impact at the point of care. Leveraging its Platform, unparalleled
proprietary datasets, and industry-leading subject matter
expertise, Inovalon enables better care, efficiency, 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®.” Supporting thousands
of clients, including 24 of the top 25 U.S. health plans, 22 of the
top 25 global pharma companies, 19 of the top 25 U.S. healthcare
provider systems, and many of the leading pharmacy organizations,
device manufacturers, and other healthcare industry constituents,
Inovalon’s technology platforms and analytics are informed by data
pertaining to more than 994,000 physicians, 558,000 clinical
facilities, 315 million Americans, and 55 billion medical events.
For more information, visit www.inovalon.com.
Contact:
Kim E. Collins Senior Vice President, Corporate
Communicationskcollins@inovalon.com301-809-4000 x1473
Hulus AlpayVice President, Investor
Relationshalpay@inovalon.com301-809-4000 x1237
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