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Inovalon (Nasdaq: INOV) announced 5-year agreements with two post-acute care providers, Vibra Healthcare and Ernest Health, to enhance administrative efficiency and payment accuracy across 64 facilities in 19 states. Utilizing the EASE® All-Payer platform, these providers will benefit from improved claims management, achieving a clean claims rate of 99% or higher. This partnership underscores Inovalon's commitment to simplifying healthcare complexities and enhancing clinical outcomes through data-driven solutions.

Inovalon (Nasdaq: INOV) has launched the Inovalon ONE® Platform to support national vaccine adherence initiatives, collaborating with key organizations in healthcare including top pharmaceutical companies. The platform aims to improve vaccination rates by utilizing vast datasets to monitor and facilitate adherence to immunization schedules, especially impacted by COVID-19. A significant analysis highlighted that Medicare spent $106 billion on vaccine-preventable diseases from 2016 to 2018. The initiative seeks to enhance public health by addressing vaccine hesitancy and ensuring timely vaccinations.

Inovalon (Nasdaq: INOV) announced that its clients using the Inovalon ONE® Platform achieved a nearly 4% increase in their 2021 Star Ratings, outperforming the broader Medicare Advantage market which saw a 2.17% decline. This marks the seventh consecutive year of superior performance for Inovalon's solution suite, underpinned by advanced analytics and real-time data integration. The platform supports over 76% of U.S. health plans, leveraging vast datasets to enhance healthcare outcomes and economic performance. The announcement highlights resilience amidst COVID-19 driven challenges.

Inovalon (Nasdaq: INOV) reported Q3 2020 revenue of $161.4 million, a 3% decrease year-over-year, with subscription-based revenue at $142.5 million, up 1%. Net income was $0.8 million, yielding diluted earnings of $0.01 per share. Non-GAAP net income increased 8% to $23.7 million. The company expects 2021 revenue of $741 million to $768 million, showing 12% to 16% growth. New sales Annual Contract Value (ACV) rose 33% to $58.5 million. Inovalon anticipates strong ongoing profitability despite COVID-19 impacts on lower-margin services.

Inovalon (Nasdaq: INOV) will hold a conference call on October 28, 2020, at 5:00 p.m. ET to discuss its third quarter 2020 financial results. The results will be released after market close on the same day. Investors can access the call by dialing (855) 783-2604 with conference ID 2357153. International callers should dial (631) 485-4882. The call will be available for replay on Inovalon's website. Inovalon specializes in cloud-based platforms that enhance healthcare data analysis and drive improvements across the healthcare ecosystem.

AllianceRx Walgreens Prime, a major specialty pharmacy, announces the adoption of Inovalon's DataStream™ API, enhancing real-time patient-specific data access via its ScriptMed® Cloud platform. This integration aims to provide insights into patient medical histories and improve clinical interventions, potentially lowering costs and enhancing patient experiences. The partnership signifies a transformative step in specialty pharmacy services across the nation, with a focus on data connectivity and patient care optimization.

Inovalon (NASDAQ: INOV) announced the launch of the DataStream™ API, enabling real-time access to comprehensive patient-specific healthcare data. This innovation addresses the limitations of current healthcare technology systems that often lack access to vital patient data, enhancing care provider capabilities and operational efficiency. The DataStream™ API is compatible with existing systems and supports various healthcare applications, improving speed-to-treatment and reducing operational costs. Inovalon’s network includes data on over 319 million patients and 56 billion medical events.

BOWIE, Md., Sept. 15, 2020 (GLOBE NEWSWIRE) -- Inovalon (Nasdaq: INOV) announced its annual Client Congress will occur virtually from September 21 – 23, 2020. This event gathers influential leaders in technology and healthcare to discuss industry strategies amidst the COVID-19 pandemic. Keynote speaker Scott Gottlieb, M.D., will lead discussions on best practices. The event features panels with executives from major healthcare organizations and aims to provide insights to navigate ongoing industry challenges. For registration details, visit Inovalon Client Congress.

BOWIE, Md., Sept. 08, 2020 – Inovalon (Nasdaq: INOV) announced a virtual fireside chat featuring CEO Keith Dunleavy and CFO Jonathan R. Boldt at Citi’s Global Technology Conference on September 10, 2020, at 9:50 a.m. ET. Investors can listen to the live audio webcast on Inovalon's Investor Relations page. An archived version will be available for a limited time. Inovalon provides cloud-based platforms that drive data-driven healthcare, supporting top players in the healthcare ecosystem through its Inovalon ONE® Platform and extensive datasets covering millions of healthcare interactions.