Quest Diagnostics is teaming up with Inovalon, a provider of cloud-based healthcare data analytics and data-driven intervention platforms to launch of Data Diagnostics™, a suite of hundreds of real-time patient-specific data analyses that clinicians can order individually, on demand at the point of care within their existing workflow to identify and address gaps in quality, risk, utilization and medical history insights. Under a five-year, exclusive, collaboration agreement between Inovalon and Quest Diagnostics, Data Diagnostics™ will be available starting in the fourth quarter of 2015 with revenue split evenly between Quest and Inovalon. Additional terms were not disclosed.
The collaboration draws datasets of clinical, claims, quality and laboratory data, including Quest’s 20 billion clinical laboratory test results and Inovalon’s clinical datasets on more than 123 million patients. The collaboration demonstrates how Quest is executing is fulfilling its long-term strategy to utilize large data assets as well as our national scale and information technology to generate value. The solution also provides seamless integration within Quest’s Care360® and EHR lab ordering and connectivity platform serving approximately half of the physicians and hospitals in the United States. This integration means physicians can readily order and access Data Diagnostics™ reports within their existing clinical workflow, a functionality that is key to bringing the power of big data to the point of care in real time.
Powered by Inovalon’s sophisticated large-scale data interconnectivity and analytical platform, Data Diagnostics™ allow clinicians to order advanced analytics for their patients on-demand and, within seconds, receive results, for informed decision making during the patient encounter.
Areas of focus will include several categories designed to assist:
– health plans
– accountable care organizations (ACOs)
– integrated healthcare delivery systems
– provider organizations
– individual physicians
“Physicians, hospitals, health plans, and the myriad of integrated healthcare delivery systems are all eager to deliver high quality care while staying simultaneously vigilant to financial factors”, said Keith Dunleavy, M.D., CEO of Inovalon in a statement. “The challenge has been the integration and aggregation of data, and the ability to analyze the implications and deliver the findings where and when they are needed in real time. Translating petabytes of data into actionable insights on demand is enabling clinicians to treat their patients more effectively at the point of care, achieve more meaningful impact within less time, gain insights otherwise potentially unknown to the treating clinician, assess gaps in care to achieve incentive quality metrics, and avoid waste. This isn’t simply a new approach to managing health data, it’s a major paradigm shift that will further the transformation of healthcare as we know it.”
As the healthcare industry transitions from consumption and volume to quality-based and value-based care, virtually every segment of the U.S. healthcare system, including health plans, hospitals, government programs, shared-risk organizations, ACOs, integrated care delivery systems, physicians, pharmaceutical and life sciences companies, is now under pressures to deliver high quality care while being simultaneously vigilant of financial performance.