Inovalon Supports Centers for Medicare and Medicaid Services with Software Application for COVID-19 Vaccine Administration

Rhea-AI Summary

Inovalon (Nasdaq: INOV) has announced the distribution of its ABILITY PC-ACE software application to support the administration of COVID-19 vaccinations. This initiative aims to enhance the remuneration processes for healthcare providers amidst the nationwide vaccination effort. The software enables efficient data submission for COVID-19 vaccine administration at no cost to providers. Inovalon’s technology connects with various Medicare Administrative Contractors to streamline clinical data processing, helping maintain focus on patient care during this critical period.

Positive

• Inovalon's ABILITY PC-ACE software supports vaccination administration at no cost to healthcare providers.
• The initiative aims to streamline data submission for COVID-19 vaccinations through Medicare Administrative Contractors.

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• None.

Application Provides Payment Processes Support for Providers Administering COVID-19 Vaccinations

BOWIE, Md., Jan. 26, 2021 (GLOBE NEWSWIRE) -- Inovalon (Nasdaq: INOV), a leading provider of cloud-based platforms empowering data-driven healthcare, today announced that its ABILITY PC-ACE software application is being distributed to help support COVID-19 vaccination administration and ensure uninterrupted remuneration processes for providers across the country.

With the nationwide distribution of COVID-19 vaccines underway, it is essential that healthcare providers across the country be able to maintain their focus on delivering quality patient care and administer the vaccine without concerns regarding relevant data submission and protracted reimbursement timelines for services rendered. Medical codes and guidelines for COVID-19 and related therapies did not exist a year ago, but with the global pandemic, healthcare industry leaders quickly adapted key medical code sets to account for the novel coronavirus. These codes are not only new to providers, but also expected to evolve over time. Integrating such data flexibility into the nation’s processing pipelines is no easy task – but one that Inovalon has been readily able to help support.

The Centers for Medicare and Medicaid Services (CMS) receives and processes clinical data from seven Medicare Administrative Contractors (MACs) through twelve regional Part A and Part B Jurisdictions and eight Specialty Jurisdictions. Inovalon provides software tools to all seven MACs. In response to the COVID-19 pandemic and the recent availability of COVID-19 vaccines, Inovalon has updated versions of its PC-ACE^® software to empower providers to efficiently and accurately submit COVID-19 vaccine administration data through all seven CMS MACs. Inovalon’s software application is being made available at no cost to healthcare providers to help them effectively manage claims, including those for vaccination administration services.

“We are proud to deliver an effective platform for providers of all sizes and sites of care nationwide, used by pharmacies, hospitals, and physicians as they begin to administer the COVID-19 vaccine,” said Bud Meadows, president and general manager of Inovalon’s provider business. “Leveraging our solution to drive greater efficiencies for this critical vaccine initiative with significant scale and measurable impact is just one way we demonstrate our mission of helping simplify the complexities of healthcare.”

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, 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.

Contact:

Kim E. Collins
Senior Vice President, Corporate Communications
kcollins@inovalon.com
301-809-4000 x1473

Hulus Alpay
Vice President, Investor Relations
halpay@inovalon.com
301-809-4000 x1237

FAQ

What is Inovalon doing to support COVID-19 vaccination efforts?

Inovalon is distributing its ABILITY PC-ACE software at no cost to assist healthcare providers with COVID-19 vaccination administration and ensure efficient data processing.

How does Inovalon's software help healthcare providers?

The software enables healthcare providers to efficiently submit COVID-19 vaccine administration data, facilitating quicker remuneration from Medicare.

What impact does Inovalon's software have on reimbursement processes?

Inovalon's software aims to accelerate reimbursement processes for providers administering COVID-19 vaccinations, allowing them to focus on patient care.

When was the announcement made regarding Inovalon's software support for COVID-19 vaccinations?

The announcement was made on January 26, 2021.