BOWIE, Md., July 26, 2018 (GLOBE NEWSWIRE) -- Inovalon (Nasdaq:INOV), a leading technology company providing advanced, cloud-based platforms empowering data-driven healthcare, today announced that it has successfully developed and deployed new technologies that allow for highly elastic orchestration of microservice containers within its cloud computing environments, enabling significant increases in speed, resiliency and operating cost efficiency.
Inovalon’s Elastic Container Technology, or ECT™, is a new set of cloud computing technologies that allows for high-performance allocation and orchestration of containerized compute processes empowering dramatic increases in speed, resiliency and operating cost efficiency. The technology enables the pooling of previously disparate clusters of cloud infrastructure and on-demand scaling, which enables improvements of up to 80% in operational efficiency. The speed, resiliency and cost benefits allow significant competitive advantages to be provided to clients. Clients’ growing demand for increasingly large, complex and time-sensitive analytics to achieve differentiating clinical and financial performance stands to benefit significantly from these new technologies.
“As healthcare organizations are increasingly turning to data and its analysis to differentiate themselves within the marketplace and improve on clinical and financial performance, the size of datasets and complexity of their analyses are driving a demand for solutions that deliver greater sophistication of analyses, scale and speed while also remaining sensitive to costs,” said Keith Dunleavy, M.D., Inovalon’s chief executive officer and chairman of the board. “The successful development and deployment of our ECT™ technology provides significant advantages to our clients while also allowing us to achieve increasing efficiencies as we grow.”
Inovalon began deployment of ECT™ technology within select Inovalon ONE® Platform solutions during the second quarter of 2018 and is live with multiple client implementations today.
About the Inovalon ONE® Platform
The Inovalon ONE® Platform is an integrated cloud-based platform of more than 80 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 is referred to as a Component, which are grouped into Modules, and informed by the data of billions of medical events within Inovalon’s proprietary datasets. Combinations of Components and Modules are configured to empower highly differentiated solutions for client needs quickly and in a highly scalable fashion. The flexibility of the modular design of the Platform enables clients to integrate the capabilities of the Platform 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 technology company providing 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 data sets, 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®.” Providing technology that supports a client base approaching 500 healthcare organizations, Inovalon's platforms and analytics are informed by data pertaining to more than 941,000 physicians, 483,000 clinical facilities, 243 million Americans, and 38 billion medical events. For more information, visit www.inovalon.com.
Contacts:
Kim Collins
Phone: 301-809-4000 x1473
kcollins@inovalon.com
George Price (Investors)
Phone: 301-809-4000 x1190
gprice@inovalon.com