A Maryland provider of value-based data analytics services to the health care industry said Monday it has added two separate national health plans as its clients.
Inovalon Holdings Inc., which is headquartered in Bowie, announced it had entered into multi-year agreements with the health plans to use the company’s cloud computing offering, the newly-branded Inovalon One platform, which places more than 70 of Inovalon’s technology toolsets into one product.
The company would not disclose the names of the health plans or financial information about the deals, but said that the deals had been brought up in the company’s earlier financial guidance for 2017.
Under the agreements, the health plans can use Inovalon One to analyze data and to drive and track impact of their initiatives among roughly 15 million health plan members who use Medicare Advantage, managed Medicaid and commercial programs. Inovalon expects the service to be available to the health plans starting in the next few weeks, and that it will reach full scale during the third quarter.
The company in February announced its first agreement that used the tools that are now called Inovalon One. That agreement, with what Inovalon describes as a “top-five national health plan,” has begun, and is scaling up to nearly 20 million patients by the end of the year, according to the company.