Inovalon Launches Provider Market Insights To Empower Life Sciences Organizations With Superior Market Data
SaaS Analytics Solution Provides Life Sciences Insight Into Brand Performance, Provider Engagement, and Patient Outcomes
BOWIE, Md., July 23, 2024 (GLOBE NEWSWIRE) — Inovalon, a leading provider of cloud-based software solutions empowering data-driven healthcare, today launched Provider Market Insights, a SaaS solution leveraging the industry’s largest primary source patient dataset to meet the high demand for comprehensive analyses by life sciences organizations across the provider landscape. The solution analyzes life science brands and the performance of competing therapies, evaluates patient demographics, socioeconomics, and insights into disease and management strategies. By combining real-world data covering 97% of active U.S. healthcare providers with advanced analytics, Inovalon’s Provider Market Insights enables life sciences organizations to optimize investments based on market intelligence and accelerate the launch of innovative therapies.
More than one in three of today’s drug launches fail to meet market expectations in their first year due to limited access to market data, inadequate understanding of customer needs, and poor product differentiation. Inovalon’s Provider Market Insights removes these barriers for life sciences teams by providing access to diverse datasets, detailing brand and competitor market activity, and uncovering provider-level insights. This enables organizations to make hyper-targeted, data-first decisions with dynamic and actionable visualizations.
The new software solution analyzes cost drivers and addresses treatment gaps. It also provides data-driven insights to help organizations address social drivers of health (SDOH) impacting patients’ access to care, such as socioeconomic status, environment, and healthcare access, which significantly influence health outcomes, including patients’ ability to obtain and adequately use medications.
“Achieving successful drug launches and improving patient access requires a comprehensive understanding of market dynamics and social drivers of health,” said John Chinnici, President and General Manager of Insights at Inovalon. “Our unparalleled data assets position Inovalon to streamline healthcare delivery and overcome barriers to ensure patients receive the most effective and timely treatment available. Provider Market Insights leverages our rich primary source data and analytics to equip life sciences organizations with informative and strategic insights that improve patient outcomes and reduce costs.”
Provider Market Insights, Inovalon’s second SaaS solution in its new Commercial Analytics portfolio, offers unparalleled data insights and flexibility to meet customer needs and maximize market impact. Powered by Inovalon’s MORE2 Registry®, the nation’s largest healthcare primary source de-identified dataset, the solution provides insights into individual and organized providers’ market influence, prioritizes customer opportunities based on key performance indicators, and optimizes brand and portfolio investments.
To learn more about Inovalon’s Provider Market Insights, please visit: www.inovalon.com/provider-market-insights.
About Inovalon
Inovalon is a leading provider of cloud-based software solutions empowering data-driven healthcare. The Inovalon ONE® Platform brings together national-scale connectivity, real-time primary source data access, and advanced analytics into a sophisticated cloud-based platform empowering improved outcomes and economics across the healthcare ecosystem. The company’s analytics and capabilities are used by nearly 20,000 customers supporting over 53,000 sites of care, and are informed by the primary source data of more than 84 billion medical events across 1.1 million physicians, 670,000 clinical settings, and 391 million unique lives. For more information, visit www.inovalon.com.
Contact:
Tom Paolella
Sr. Director, Press and Analyst Relations, Inovalon
Thomas.Paolella@inovalon.com
