Inovalon Announces Agreement with Bristol-Myers Squibb to Focus on Real World Outcomes & Value-Based Contracting Initiatives
Summary
Avalere and Inovalon recently entered into an agreement with Bristol-Meyers Squibb (BMS) to support the manufacturer's innovative initiatives using real-world outcomes data to design and test value-based contracting models. The agreement brings together Avalere's deep expertise on manufacturer and payer contract negotiation and Inovalon's significant data assets to meet the complex challenges around ensuring value and access while addressing growing healthcare costs concerns.The Inovalon Medical Outcomes Research for Effectiveness and Economics Registry (More2 Registry®) contains longitudinal patient-level data across 131 million unique and de-identified members nationwide. The registry goes beyond claims data to include information on demographics, enrollment, diagnosis, procedures, pharmacy, and lab results. Additionally, it represents a mix of commercial, ACA marketplace, managed Medicaid, and Medicare Advantage population in the US. The breadth and depth of this data enables users to create predictive models and real-world benchmarks to understand patient treatment utilization and clinical outcomes at a therapeutic level.
As the healthcare system transitions to value-based care, and markets become more competitive, it is imperative for manufacturers to illustrate the therapeutic advantages of their portfolio and to engage payers in establishing contracts that ensure appropriate access. The partnership between Avalere, Inovalon, and BMS demonstrates the collaboration necessary to improve patient outcomes using rigorous data driven models and insights to demonstrate value and achieve results.
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