Leading Health Plan Applies Inovalon ONE® Platform Capabilities Across All Product Lines
BOWIE, Md. – December 6, 2018 – Inovalon (Nasdaq: INOV), a leading technology company providing advanced, cloud-based platforms empowering data-driven healthcare, and Molina Healthcare (NYSE: MOH), a FORTUNE 500 company providing managed healthcare services through government programs, today announced an agreement to support Molina’s widespread efforts to improve member care and documentation within its Medicaid, Medicare and Marketplace member populations across the country.
Molina entered into an agreement with Inovalon for similar work for its Marketplace plans in Florida and Texas in 2017. The new agreement will expand the existing relationship to include additional Molina states and all lines of business across the enterprise. This will enhance Molina Healthcare’s data analytics, member interventions, and reporting. Improved efficiencies between providers, members, and Molina support staff are expected to be realized immediately.
“The Inovalon ONE® Platform will enable infrastructure efficiencies to help us identify members’ clinical gaps while ensuring we are documenting patient diagnoses accurately and completely,” said Jim Woys, executive vice president of health plan services for Molina Healthcare. “Ensuring that our risk and quality operations are operating as efficiently as possible is an important aspect of Molina’s multifaceted margin recovery and sustainability plan, and we are pleased to expand our relationship with Inovalon to realize results quickly in this area.”
“We have been impressed by the degree to which Molina Healthcare is committed to providing its members with the highest level of service and quality care while also focusing on the efficiency and effectiveness of its programs,” said Jason Capitel, chief operating officer of Inovalon. “We are pleased to expand our partnership with this innovative and value-oriented company to provide advanced analytic capabilities of the Inovalon ONE® Platform supporting data-driven, patient-specific, and provider-specific point-of-care solutions and engagement strategies to drive positive outcomes.”
The Inovalon agreement is part of a broader strategy to improve Molina’s ability to manage clinical risk and needs assessment, which includes expanding its CareConnections program, hiring additional nurse practitioners for direct member outreach, and improving care coordination.
About the Inovalon ONE® Platform
The Inovalon ONE® Platform is an integrated cloud-based platform of more than 80 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 is referred to as a Component, which are grouped into Modules, and informed by the data of billions of medical events within Inovalon’s proprietary datasets. Combinations of Components and Modules are configured to empower highly differentiated solutions for client needs quickly and in a highly scalable fashion. The flexibility of the modular design of the Platform enables clients to integrate the capabilities of the Platform 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 Molina Healthcare
Molina Healthcare, Inc., a FORTUNE 500 company, provides managed healthcare services under the Medicaid and Medicare programs and through the state insurance marketplaces. Through its locally operated health plans, Molina Healthcare served approximately 4 million members as of September 30, 2018. For more information about Molina Healthcare, please visit molinahealthcare.com.
Inovalon is a leading technology company providing 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 data sets, 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 19 of the top 25 U.S. health plans and 22 of the top 25 global pharma companies, Inovalon's technology platforms and analytics are informed by data pertaining to more than 955,000 physicians, 499,000 clinical facilities, 261 million Americans, and 40 billion medical events. For more information, visit www.inovalon.com
Inovalon: Kim Collins
Phone: 301-809-4000 x1473
George Price (Investors)
Phone: 301-809-4000 x1190
Molina Healthcare: Laura Murray