BOWIE, Md., Oct. 28, 2024 (GLOBE NEWSWIRE) -- Inovalon, a leading provider of cloud-based software solutions empowering data-driven healthcare, unveiled new products and features today at Empower 2024, its annual data-driven healthcare summit. Through cutting-edge software spanning the provider, payer, pharmacy, and life sciences sectors, Inovalon leverages its vast data assets and comprehensive ecosystem of customers to deliver better outcomes, operational efficiencies, and more connected experiences for healthcare professionals and patients.

"At Empower, the intersection of healthcare and technology, our relentless innovation and commitment to driving affordable and high-quality care is on full display," said Eron Kelly, President of Inovalon. "With our deep industry expertise, extensive network of customers, and the largest healthcare primary source dataset in the industry, we continue to shape healthcare's data-driven future."

Making It Easier for Providers to Verify Patient Coverage

Inovalon’s new Eligibility Verification Pro solution streamlines the accurate verification of a patient’s insurance coverage the first time. It is part of Inovalon’s front-end revenue cycle management software for providers to improve efficiency, productivity, cash flow, and patient outcomes by automatically enriching missing coverage data to reduce claims denials and care delays for reliable reimbursements and access to care.

Helping Health Plans Share Data, Improve Risk Score Accuracy, and Reduce Costs

Inovalon’s Converged Provider Enablement’s latest cost and utilization feature helps health plans gain insights into their provider network, with data on costs and utilization for medical, pharmacy, and emergency services. This allows health plans to turn raw claims data into actionable insights, optimize resource allocation, and manage costs more effectively.

Inovalon’s AI-powered Converged Record Review uses natural language processing (NLP) and machine learning (ML) to reduce manual medical record reviews and improve risk score accuracy. By automatically identifying records with or without clinical value, it cuts unnecessary reviews by up to 50%, enhancing accuracy, efficiency, and cost savings for risk adjustment programs.

Additionally, Inovalon is launching new Converged Outreach Connectors that provide health plans with a secure, seamless way to share member data with trusted partners using FHIR API connections. This enables faster, more accurate data exchange to support value-based care and improve member engagement, care gap closure, and health outcomes.

Accelerating Access to Clinical Trials and Life-Saving Therapies

Inovalon is launching a Research Network that equips health systems with software to simplify the clinical trial recruitment process by automatically identifying and pre-screening eligible patients with advanced AI and EHR connectivity. Additionally, life sciences organizations can tap into Inovalon’s Research Network to bring treatments to market faster by reducing recruitment time, enhancing operational efficiency, and ensuring equitable access.

Simplifying Pharmacy Operations with ScriptMed^®

Inovalon continues expanding the feature set of its ScriptMed pharmacy management cloud for both specialty as well as infusion markets, further allowing customers to streamline and automate operations within a single, end-to-end platform that allows providers to focus on delivering high-quality, patient-centric care.   

Unified Platform for Healthcare Innovation

The new Inovalon Application Portal provides customers with one centralized hub to find and launch all Inovalon ONE^® Platform applications. With a single login, users can securely and seamlessly connect between applications throughout the day, streamlining and simplifying their workflows. Additionally, the portal incorporates multi-factor authentication, enhancing security and providing users with increased protection when using Inovalon’s products.

To learn more about the Inovalon ONE Platform, please visit: https://www.inovalon.com/one.

About Inovalon

Inovalon is a leading provider of cloud-based SaaS solutions empowering data-driven healthcare. The Inovalon ONE^® Platform brings together national-scale connectivity, real-time primary source data access, and advanced analytics into a sophisticated cloud-based platform empowering improved outcomes and economics across the healthcare ecosystem. The company’s analytics and capabilities are used by nearly 20,000 customers supporting more than 53,000 sites of care, and are informed by the primary source data of more than 85 billion medical events across 1.1 million physicians, 677,000 clinical settings, and 395 million unique lives. For more information, visit www.inovalon.com.

Contact:
Tom Paolella
Sr. Director, Press and Analyst Relations, Inovalon
Thomas.Paolella@inovalon.com