BOWIE, Md., March 28, 2018 (GLOBE NEWSWIRE) -- 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.
