Inovalon, a leading technology company providing advanced, cloud-based platforms empowering a data-driven transformation from volume-based to value-based models across the health care ecosystem, today announced the launch of Clinical Data Extraction as a Service (CDEaaS) and Natural Language Processing as a Service (NLPaaS), two new offerings of the Inovalon ONE Platform.
Inovalon’s CDEaaS offering identifies and extracts patient data within the health care ecosystem and aggregates it autonomously in a digital medical record format that is both CMS and NCQA compliant. The new NLPaaS solution enables clients to analyze non-structured data within clinical medical record data for initiatives regarding clinical quality, diagnosis, disease progression, outcomes, treatment, risk, compliance, waste, and a host of other complex health care topics.
The collection, review, and analysis of medical record data is critical to many organizations across the health care ecosystem. Market-wide there are an estimated 100 million medical record reviews undertaken per year for activities such as fulfilling regulatory compliance requirements; documenting clinical quality results to achieve improved quality incentives for program performance; risk adjustment reimbursement documentation support; fraud, waste, and abuse audit programs; clinical trials; and post-market surveillance and adverse outcome investigations for pharmacological and medical device products.
Traditionally, organizations rely on highly inefficient, labor-based approaches to conduct the process of collecting and reviewing medical record data.