Based on its recent analysis of the North American healthcare and life sciences analytics cloud solutions market, Frost & Sullivan recognizes Inovalon (Nasdaq: INOV) with the 2021 North American Company of the Year Award. Inovalon’s cloud-based solution, the Inovalon ONE® Platform, enhances the operations of healthcare payers, providers, life sciences, and pharmacy organizations by helping them improve clinical quality outcomes and economics. The company empowers clients to harness comprehensive industry connectivity, massive primary-source real-world datasets, and healthcare data analytics to meet their end goals successfully.
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Each year, Frost & Sullivan presents a Company of the Year Award to the organization that demonstrates excellence in terms of growth strategy and implementation in its field. The award recognizes a high degree of innovation with products and technologies and the resulting leadership in terms of client value and market penetration.
Inovalon provides its solutions to the marketplace through the Inovalon ONE® Platform: an integrated, cloud-based platform that provides extensive healthcare ecosystem connectivity, massive scale datasets, advanced analytics, and data-driven intervention toolsets. The platform’s capabilities provide meaningful insights and measurable impact in the quality and economics of healthcare for payers, providers, life sciences and pharmacy organizations across the healthcare landscape.
“A strategic partner, Inovalon advances data-driven healthcare by enabling clients to devise, deploy, and optimize data analytics capabilities across all business verticals,” said Supriya Lala, Best Practices Research Analyst at Frost & Sullivan. “The company’s real-world dataset, MORE2 Registry® (Medical Outcomes Research for Effectiveness and Economics Registry) informs powerful algorithms that translate into differentiated insights that help clients achieve the results they seek.”
Significantly, Inovalon offers clients visibility into their market performance through its Healthcare Data Lake that employs a powerful mix of both analytics and data interconnectivity. Such analytics enable life sciences organizations to design strategies targeting the right provider and patient groups to derive clinical value from their products. Furthermore, the company’s artificial intelligence solutions automate quality outcomes reporting, customize clinical gap analysis, and produce patient-specific risk profiles that can be leveraged to mitigate medical emergencies.
“In 2020, Inovalon introduced telehealth capabilities as part of its Inovalon ONE® Platform. This solution enables remote data-driven patient encounters, improves patient access to clinicians, lowers healthcare ecosystem costs, and limits the spread of COVID-19,” said Unmesh Lal, Industry Principal at Frost & Sullivan. “Through Inovalon’s platform, unmatched proprietary datasets and analytics that are backed by market-leading subject matter expertise provide for improved care quality and outcomes, increased efficiencies, and lowered healthcare costs across the ecosystem.”
Frost & Sullivan Best Practices Awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analyses, and extensive secondary research to identify best practices in the industry.
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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 all 25 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 one million physicians, 574,000 clinical facilities, 332 million Americans, and 61 billion medical events. For more information, visit www.inovalon.com.
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