INOV - Inovalon wins key patent related to real time patient-specific data collection and analysis

Inovalon (INOV) announced that it has secured a key patent related to its ability to collect healthcare data, run the analytics, and make available real-time on-demand results.U.S. Patent No. 11,011,256 for “Systems and Method for Providing an On-Demand Real-Time Patient-Specific Data Analysis Computing Platform” covers functions within Inovalon DataStream API technology and Inovalon ONE Platform, the company said in a statement.In late 2020, Humana expanded the application of the Inovalon ONE Platform to Humana’s Medicare membership. And in March, Inovalon and Humana expanded their collaboration to enhance vaccine adherence.In Q1 2021, the strong adoption of Inovalon ONE Platform drove the company’s new sales Annual Contract Value by ~81% YoY to $82.1M while platform new sales rose ~120% YoY to reach $63.8M.

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Inovalon wins key patent related to real time patient-specific data collection and analysis