BOWIE:Inovalon (Nasdaq: INOV), a leading provider of cloud-based platforms empowering data-driven healthcare, today announced that AstraZeneca has engaged the combined capabilities of Inovalon’s Avalere business unit and the Company’s deep data and analytical capabilities of the Inovalon ONE® Platform to develop a comprehensive value-based platform to underpin the commercialization of an innovative therapy for the treatment of Chronic Obstructive Pulmonary Disease (COPD).
Under the agreement, industry subject matter experts within Inovalon’s Avalere business unit focused on care delivery models, regulatory policy, payment model design, value-based contracting, and pharmacoeconomics will leverage Inovalon’s extensive real-world datasets and analytics within the Inovalon ONE® Platform to assess unmet needs and ideal care delivery models for patients with COPD. The initiative will focus on establishing a basis for the delivery of valuebased care across multiple ecosystem stakeholders, including health plans, healthcare providers, and long-term care facilities.
One of the applications of the comprehensive value platform initiative between Inovalon and AstraZeneca is the development of evidence to inform the design of value-based agreement constructs that leverage real-time access to data and the ability to improve patient care and outcomes as well as impact the total costs of disease management.
“AstraZeneca is committed to evolving the current system towards payment based on the value medicines provide to patients, payers, and the healthcare system,” said Rick R. Suarez, senior vice president of US market access at AstraZeneca. “We are committed to furthering our work in the field of value-based agreements by designing and implementing an industry-leading value platform that articulates the benefits of our innovative therapies to all stakeholders.”
“Working together with AstraZeneca on this engagement brings to the healthcare community the meaningful benefits of data-driven healthcare,” said Matt Brow, president and general manager of Avalere. “We’re excited about our partnership with AstraZeneca, an industry leader in innovative, value-based initiatives.”