Inovalon’s Payer Cloud Ranked #1 in 2024 by Black Book Research

BOWIE, Md.- September 17, 2024 - Inovalon, a leading provider of cloud-based software solutions empowering data-driven healthcare, today announced it ranked #1 by health plan and payer organizations for the fourth year in row for the 2024 Black Book Managed Care and Health Plan IT Survey. The company proudly received top ratings in 13 of the 18 key performance indicators anchored in operational excellence, including data security, trust and accountability, patient privacy, innovation, and reliability. By earning the top ranking, Inovalon outperformed technology providers including AWS, Accenture, ClearDATA, IBM, Microsoft, Optum, and Salesforce.

Inovalon's Payer Cloud supports health plans in improving clinical quality metrics, risk score accuracy, value-based care program management, and data intelligence that plays a critical role in advancing health equity and value-based care initiatives by transforming traditional manual workflows into data-driven processes. Powered by the Inovalon ONE® Platform's industry-leading analytics capabilities, the company's healthcare payer solutions deliver member-centric insights with speed, accuracy, and flexibility to more than 100 U.S. health insurance plans, including 23 of the top 25 health plans.

"In the wake of significant regulatory changes and data security concerns in 2024, vendor trust is more crucial than ever," said Mike Jones, President and General Manager of Inovalon's Payer Business Unit. "We're honored to be recognized for our commitment to these priorities and trusted by health plans for the fourth year in a row as the top cloud data platform for payers. Being named an unrivaled leader by Black Book once again reaffirms Inovalon's position at the forefront of the industry and commitment to partnering with our customers to drive better patient outcomes."

From Q3 2023 through Q2 2024, the Black Book Research payer survey investigated 179 vendors utilized by 7,761 validated IT users nationwide for final satisfaction rankings. Over 19% of all health insurers were represented in the 2024 Black Book managed care and health plan IT surveys.

"Inovalon's expertise in transforming siloed workflows into efficient, data-driven processes, supported by industry-leading analytics capabilities, distinguishes it as the leader in payer technology innovation," stated Doug Brown, managing partner of Black Book. "Inovalon's integrated SaaS suite of healthcare payer solutions provides member-centric insights and actionable strategies, enabling health plans to effectively measure, manage, and enhance healthcare outcomes, economics, and quality of care. This excellence has earned them the highest praise from system clients."

Along with the top overall honor for payer cloud platform solutions, Inovalon was also ranked among the top four vendors in several categories: Payer Digital Transformation Solutions, Quality Management Analytics, Payer Risk Adjustment Tools, Population Health and Value-Based Care Tools, Health Plan Claims Administration Solutions, and Health Equity and Social Determinants of Health Strategy Solutions.

To download the full report, please visit: https://www.inovalon.com/inovalon-ranked-number-1-payer-technology-solution/. To learn more about how Inovalon partners with payers to improve member care and outcomes while achieving greater performance and efficiency, visit our website: https://www.inovalon.com/products/payer-cloud/.

About Inovalon
Inovalon is a leading provider of cloud-based SaaS 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, 674,000 clinical settings, and 392 million unique lives. For more information, visit www.inovalon.com.

About Black Book
Black Book™, along with its founders, management, and staff, maintains no financial interest in any vendors included in its surveys, such as Inovalon. The organization publishes the results of satisfaction and client experience rankings and shares them with the media before notifying vendors. It does not solicit participation fees, review fees, inclusion or briefing charges, or vendor collaboration during its polls. Since 2000, Black Book™ has surveyed vendor satisfaction across over 30 industries globally in the software, technology, and managed services sectors. In 2009, Black Book began polling over two million healthcare software and services users to gauge client experience. It has built a reputation for independent, unbiased, crowd-sourced surveys among IT and health records professionals, CFOs, medical officers, physician practice administrators, nurses, financial leaders, executives, and hospital IT managers. The 2024 payer IT client experience polls were conducted over seven months through multiple research events.

Tom Paolella
Sr. Director, Press and Analyst Relations, Inovalon
[email protected]