Inovalon Receives Key Patent Award for On-Demand Real-Time Patient-Specific Data Aggregation and Analysis
25 Mai 2021 - 1:55PM
Inovalon (NASDAQ: INOV), a leading provider of cloud-based
platforms empowering data-driven healthcare, today announced that
it has been awarded a significant patent for its capability to
aggregate healthcare data from across the healthcare ecosystem,
apply requested analytics, and make the results available on demand
in real time.
U.S. Patent No. 11,011,256, for the “Systems and
Method for Providing an On-Demand Real-Time Patient-Specific Data
Analysis Computing Platform” adds to Inovalon’s portfolio of
intellectual property protection as the Company continues to bring
industry-leading innovation and capabilities to the marketplace for
its customers and the individuals they serve.
The capabilities covered under this patent
provide for on-demand healthcare Data-as-a-Service (DaaS) and
Analytics-as-a-Service (AaaS) in real time at the patient-specific
level and is one of the elements of intellectual property
empowering the Inovalon DataStream® API technology announced on
September 24, 2020 (link here) and a wide array of application
enhancements within the Inovalon ONE® Platform portfolio.
Recognizing that demand for highly complex
healthcare data and analytics would increasingly be requested by
applications and mobile devices with limited resident data and
compute capability, Inovalon began work in 2015 on the architecture
needed to solve for the multiple barriers of execution inherent in
healthcare.
- The first barrier being the
disparate nature of healthcare data. Most people receive medical
care through different affiliations (e.g., health plans, employers,
and unions) and at multiple locations (e.g., physician offices,
hospitals, clinics, radiology centers, laboratory centers, and
pharmacies) that often change as people move to a different
geography, change jobs, retire, or travel for work or leisure.
Because of this, the typical person’s historical and ongoing
healthcare data can reside in dozens of disparate systems (e.g.,
EHRs, claims systems, laboratory systems, and pharmacy
systems).
- The second barrier originating from
the “messy” nature of healthcare data, necessitating significant
capabilities of normalization and processing of structured and
non-structured data to enable the interpretation of data from
thousands of differing sources – each of which have tendencies to
undergo evolving shifts in both discrete data element nature and in
the subjective healthcare practice nature.
- The third barrier comes from the
many laws and regulations governing healthcare data access and use
requiring there to be a known use or need for accessing a person’s
healthcare data and a requirement to access a minimum amount
needed, thus making untenable the option of overcoming the
complexity of dislocated data by gathering the entirety of data in
advance of any specific need.
- And the fourth barrier originates
from the fact that the demand for accessing and applying
patient-specific data and its analytical derivatives was expected
to emanate from relatively small and mobile devices, platforms
which themselves have limited data storage, compute, and bandwidth
capacity.
These barriers necessitated the design of
systems that would enable extremely widespread connectivity across
thousands of primary data sources to overcome barriers of
healthcare data’s disparate nature; employ sophisticated data
integrity and analytical capability to enable data ingestion,
normalization, and conversion from non-structured to structured
data; provide for real-time response times thus granting the
flexibility to be called upon once a patient’s need and use have
been identified to assure data regulatory compliance; and provide
for large scale compute and storage independent from the location
of the requesting platform. Multiple Modules and micro services of
the Inovalon ONE® Platform come together to overcome these
barriers, bringing to life the ability for any authorized device,
application, or platform to make a specific request pertaining to a
specific patient, and receive the requested data or analytical
result on demand and in real time. The types of data and menu of
analytical questions able to be called on demand are extensive and
can be customized by Inovalon’s customers.
“We see a world where the real-time availability
of data and its analysis dramatically advances the speed of
discovery, diagnosis, treatment, effectiveness, access, and
efficiency of healthcare everywhere,” said Keith Dunleavy, M.D.,
Inovalon’s chief executive officer and chairman of the board. “By
bringing together the unique technologies needed to realize these
transformative changes, we empower our customers to achieve their
critical goals on behalf of the patients they care for. We are
committed and proud to continue advancing the technologies needed
to support these important goals.”
The intellectual property covered under this
patent and others within Inovalon’s intellectual property portfolio
support capabilities within the Inovalon ONE® Platform.
About the Inovalon
ONE® Platform
The Inovalon ONE® Platform is an integrated
cloud-based platform of nearly 100 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, referred to as a Module, is informed by the data of
billions of medical events within Inovalon’s proprietary datasets.
Combinations of Modules are configured to empower highly
differentiated solutions for client needs quickly and in a highly
scalable fashion. The flexibility of the Platform’s modular design
enables clients to integrate the Platform capabilities 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 Inovalon
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, all
25 of the top 25 global pharma companies, 24 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,
580,000 clinical facilities, 336 million Americans, and 62 billion
medical events. For more information,
visit www.inovalon.com.
Contacts:Kim CollinsPhone:
301-809-4000
x1473 kcollins@inovalon.com
Hulus AlpayVice President, Investor
Relationshalpay@inovalon.com 301-809-4000 x1237
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