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BOWIE, Md., June 19, 2019 (GLOBE NEWSWIRE) -- Inovalon (Nasdaq: INOV), a leading provider of cloud-based platforms empowering data-driven healthcare, today announced that Network Health, an innovative health plan serving Medicare, ACA and Commercial membership across the state of Wisconsin, has extended its relationship with Inovalon for five additional years. The renewed contract, which supports key retrospective and prospective risk score accuracy and Star and HEDIS® quality improvement initiatives, includes expanded use of the Inovalon ONE® Platform to implement Inovalon’s Clinical Data Extraction as a Service (CDEaaS™) and Natural Language Processing as a Service (NLPaaS™). With this agreement, Network Health will be able to autonomously aggregate and recognize clinical insights derived from structured and unstructured data at large scale from across its marketplace to improve quality outcomes, efficiency and economic performance.
Inovalon’s Clinical Data Extraction as a Service (CDEaaS™) solution facilitates data exchange directly and autonomously through Electronic Health Record (EHR) systems and Health Information Exchange (HIE) systems with more than 215,000 providers connected to the Inovalon ONE® Platform today and delivers digital patient records 10 times faster, with greater data accuracy and completeness, and at a cost up to 70 percent less than traditional, manual retrieval. Data retrieved through the CDEaaS™ solution will play an integral role in supporting Network Health’s quality measurement, reporting and improvement and risk score accuracy performance initiatives. CDEaaS™ will streamline and enable greater flexibility within the medical record retrieval process for Network Health, delivering more comprehensive results through data targeting algorithms powered by analysis of Inovalon’s massive proprietary dataset, the MORE2 Registry®, which includes more than 45 billion medical events.
Inovalon’s Natural Language Processing as a Service (NLPaaS™) leverages the Inovalon ONE® Platform’s highly adaptive machine learning capabilities along with data contained within the MORE2 Registry® to transform unstructured clinical data into highly valuable, structured data, which are then analyzed at massive scale in fractions of a second. Employing state-of-the-art deep learning and machine learning algorithms, NLPaaS™ will support Network Health’s risk score accuracy performance initiatives by significantly decreasing clinical record review time and enabling risk score-relevant condition detection up to four times faster and at a cost of 25 percent less than manual methods.
“Inovalon’s advanced cloud-based technologies play an integral role in supporting Network Health’s mission of delivering innovative health plan solutions that provide exceptional value and improve quality of care while controlling costs,” said Josh Weisbrod, vice president of Risk Adjustment at Network Health. “We look forward to expanding our relationship and building upon past positive results for our members and business.” Kimberly Swanson, vice president of Quality and Clinical Integration, added, “The expanded partnership not only better positions Network Health from a quality ratings perspective but also allows for further alignment with our Clinical Integration strategies with our owners and provider network.”
“The application of Inovalon’s CDEaaS™ and NLPaaS™ for Network Health enables greater quality outcomes, drives financial efficiencies and reduces the time to obtain clinical data records from weeks down to minutes while delivering superior accuracy, completeness and consistency,” said Jason Capitel, chief operating officer at Inovalon. “We’re pleased to be both extending and expanding our work with Network Health as they leverage innovative data-driven strategies to further their mission.”
This engagement to implement CDEaaS™ and NLPaaS™ expands on a multi-year SaaS engagement that Network Health and Inovalon entered into in 2016 to provide advanced clinical quality measurement, analysis and reporting capabilities.
About Network Health
Founded in 1982, Network Health offers customized commercial and Medicare health insurance services to employers, individuals and families in more than 23 counties throughout Wisconsin. Through its strong reputation for quality health care coverage and superior customer service, Network Health has grown to serve more than 120,000 members. Learn more at networkhealth.com. Visit our blog at copilotwi.com.
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 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 24 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 972,000 physicians, 531,000 clinical facilities, 271 million Americans, and 45 billion medical events. For more information, visit www.inovalon.com.
Kim E. Collins