BOWIE, Md., Dec. 5, 2013 /PRNewswire/ -- Inovalon, Inc., a leading provider of data-driven healthcare solutions, today announced that it will work with Blue Cross and Blue Shield of Minnesota, the largest health plan in Minnesota, to provide Inovalon's Health Insurance Exchange (HIX) Marketplace services.
Inovalon's HIX Marketplace solutions provide services that address key challenges facing health plans in the areas of risk score accuracy, regulatory data submission via the Edge Server, risk score verification processes, quality measurement and improvement, and medical record audit support. Inovalon applies these capabilities to the burgeoning needs of health plans seeking to compete in the HIX Marketplace through the offering of Qualified Health Plans (QHPs).
"Through the Health Insurance Marketplace, Blue Cross and Blue Shield of Minnesota will promote a wider, more economical and timely availability of health services for the people of Minnesota," said Sandy Hill, Sr. Director of Health Care Reform and Exchange Office at Blue Cross and Blue Shield of Minnesota. "The expansion of our partnership with Inovalon will provide additional capabilities and insight to member data analysis and provider disease burden documentation that thorough data analysis and outreach is tailored to each member's specific healthcare needs."
"Inovalon is working closely with payers to help prepare them for the unprecedented offering established through each state's Health Insurance Exchange Marketplace," said Dan Rizzo, Chief Innovation Officer of Inovalon. "As the largest health plan in the state, Blue Cross and Blue Shield of Minnesota is well-positioned to offer a range of plan options that fit their individual members' needs. We are continually appreciative of our expanding partnership with Blue Cross and Blue Shield of Minnesota, and with their commitment to the Health Insurance Exchange Marketplace and for delivering superior and cost-effective healthcare options to its members."
Inovalon has provided prospective and retrospective risk adjustment, quality measurement and improvement, claims aggregation, analysis and submission, medical record audit support, business intelligence, and financial reporting solutions for Blue Cross and Blue Shield of Minnesota Commercial and Medicare Advantage populations since 2004. With the current expansion of the relationship, Inovalon will extend its services to include commercial HIX Marketplace risk score accuracy, Edge Server support, medical record audit support, and business intelligence and financial reporting solutions.
About Blue Cross and Blue Shield of Minnesota
Blue Cross and Blue Shield of Minnesota, with headquarters in the St. Paul suburb of Eagan, was chartered in 1933 as Minnesota's first health plan and continues to carry out its charter mission today as a health company: to promote a wider, more economical and timely availability of health services for the people of Minnesota. Blue Cross is a not-for-profit, taxable organization. Blue Cross and Blue Shield of Minnesota is an independent licensee of the Blue Cross and Blue Shield Association, headquartered in Chicago. Go to www.bluecrossmn.com to learn more about Blue Cross and Blue Shield of Minnesota.
About Inovalon, Inc.
Inovalon, Inc. is a leading technology-enabled healthcare solutions provider focused on the importance of healthcare data and its ability to drive dramatic, objective improvement in clinical and quality outcomes, care management and financial performance throughout the healthcare community. Proprietary healthcare datasets, aggregation and analysis capabilities, combined with a national infrastructure of leading-edge technology, clinical prowess and deep human resources, empower Inovalon's advanced generation of healthcare assessment and improvement through highly informed solutions. Driven by data, Inovalon uniquely identifies gaps in care, quality, data integrity, and financial performance -- while also bringing to bear the resources to resolve them. This differentiating combination provides a powerful capability suite, touching more than 540,000 physicians, 220,000 clinical facilities, and more than 140 million Americans, driving high‐value impact, improving the quality and economics for health plans, hospitals, physicians, patients, and researchers. Please visit www.inovalon.com for more information.
SOURCE Inovalon, Inc.