SC

Strategy Canon

Inovalon: sourced choices

53 product and go-to-market choices, oldest first. Back to the case study

  1. 1998Product · Initial job The company started in 1998 analyzing data that supported health plans' compliance with quality and accreditation standards. INV2
  2. 1998Product · Data collection systems Early systems gathered and validated healthcare data from providers and facilities; by the early 2000s the focus shifted to aggregating large datasets to measure quality outcomes. INV16
  3. 2001Product · Certified HEDIS engine By 2012 QSI had passed NCQA certification 11 years in a row, a record dating from 2001, when certification began. INV33
  4. 2003Product · Quality outcomes measurement The company launched its clinical quality outcomes measurement solution, later the base of Converged Quality. INV15
  5. 2003Product · Own quality measurement product The company launched a clinical quality outcomes measurement solution aggregating data for plans reporting to NCQA, CMS and state health departments. INV15
  6. 2008Go_To_Market · Land with HEDIS Clarian Health Plans started buying NCQA HEDIS analytics in 2008. INV21
  7. 2008-09Product · Clinical intervention products The 2008 line included CCS Advantage disease management, ePASS patient assessment, ISAP patient stratification, the iDCT data collection tool and SRSA site review. INV17
  8. 2008-09-17Go_To_Market · Self-funded with one outside investor Andre Hoffmann bought $175 million of stock, taking just over 15% and a board seat as the largest outside shareholder. INV17
  9. 2009-09Go_To_Market · Plan coverage After Catalyst the company served over 200 managed care organizations, including half of the top 20. INV18
  10. 2009-09-11Product · Catalyst acquisition MedAssurant bought Catalyst Technologies, described as the leading provider of HEDIS administrative software used to report to NCQA and CMS. INV18
  11. 2009-09-11Product · Acquired HEDIS engine Catalyst brought HEDIS administrative software and a proprietary analytical rules compiler; Catalyst had been NCQA-certified since 2001 [INV42]. INV18
  12. 2010Product · MORE2 Registry The company formalized its de-identified dataset as the MORE2 Registry. INV15
  13. 2010-10-06Go_To_Market · Expand into risk and quality Clarian expanded in 2010 to the integrated suite for risk data accuracy, clinical quality, utilization and outcomes. INV21
  14. 2011Product · Star Advantage Star Advantage was launched for Medicare Star ratings. INV15
  15. 2011-03-23Go_To_Market · Expansion at Healthfirst Healthfirst expanded its use to clinical data accuracy, claims analytics and Prospective Advantage across Medicare and Medicaid members. INV20
  16. 2011-04-18Product · Medicare Advantage suite The Medicare Advantage suite combined Star quality management, HEDIS, Prospective Advantage, capitated risk adjustment (CARA), claims aggregation and submission (CAAS), care coordination and business intelligence. INV19
  17. 2011-04-18Go_To_Market · Integrated suite sale Blue Cross Blue Shield of Michigan implemented eight solutions for Medicare Advantage; Dunleavy pitched one coordinated data feed replacing disparate systems. INV19
  18. 2012-01-13Product · HEDIS reach QSI was described as the most widely used HEDIS solution, supporting quality calculations for about 60% of the insured population. INV33
  19. 2014-06-02Go_To_Market · Research showcase Registry studies were presented at the 2014 ISPOR outcomes-research meeting. INV27
  20. 2014-09-30Product · Registry size The MORE2 Registry held more than 9.1 billion medical events on 118 million patients and had grown about 43.3% a year since 2000. INV7
  21. 2014-12-30Go_To_Market · Client concentration The top four clients were 12%, 11%, 11% and 10% of 2013 revenue, and the top ten about 70% to 75%. INV7
  22. 2015Go_To_Market · Top plans In 2015 clients included 20 of the top 25 health plans; Anthem was about 12% of revenue and the top ten 68%. INV23
  23. 2015Go_To_Market · Contract length Client contracts generally ran two to four years. INV23
  24. 2015-01-05Product · EHR and retail integrations By 2014 the platform integrated with EHR vendors such as Allscripts and Greenway and with Walgreens clinics. INV24
  25. 2015-01-29Product · Data reuse Data received in the course of providing services were statistically de-identified and stored in the MORE2 Registry. INV3
  26. 2015-01-29Product · Software versus services mix In 2013 data analytics subscriptions were 48.6% of revenue and data-driven intervention services 51.4%, mostly partially automated work. INV3
  27. 2015-01-29Go_To_Market · Independence positioning The prospectus stressed that the company was not owned or influenced by a health plan or private equity firm, so its data and analyses were independent. INV3
  28. 2015-01-29Go_To_Market · Founder control Ten-vote Class B shares held by pre-IPO holders kept about 98% of voting power after the offering. INV3
  29. 2015-01-29Go_To_Market · Adjacent buyers The IPO growth plan named providers, pharma, employers and consumers as adjacent markets, plus channel partnerships and acquisitions. INV3
  30. 2015-02Go_To_Market · IPO The company listed on Nasdaq at $27 a share, selling 22.2 million shares for about $600 million. INV8
  31. 2015-09-01Go_To_Market · Avalere Inovalon bought Avalere Health, a Washington policy and life sciences advisory firm. INV38
  32. 2016Product · Chart retrieval and in-home work Intervention capabilities ran by telephone, in patients' homes and in clinics; SRSA handled facility scheduling, on-site abstraction, review and quality control of medical records. INV4
  33. 2016Product · Own software The company built its own software and described its platform components as modular, supported by the depth of the registry. INV4
  34. 2016Product · EHR connectivity EHR connectivity reached more than 100,000 providers during 2016. INV29
  35. 2016Go_To_Market · Life sciences and provider clients In 2016 clients included 219 of 1,377 life sciences organizations and 133 provider organizations; Anthem was 17% of revenue. INV4
  36. 2016-08-04Go_To_Market · Older product line migration Clients shifted purchasing away from an older product line faster than planned; the company converted them to a modular platform at a short-term revenue cost. INV50
  37. 2016-10Product · Specialty pharmacy software The company entered specialty pharmacy software by buying Creehan & Company (later ScriptMed). INV15
  38. 2016-12-13Go_To_Market · Failed collaboration An expected multi-year collaboration worth about $40 million of fourth-quarter revenue collapsed, and 2016 revenue guidance fell from $470-490 million to $426-428 million. INV6
  39. 2017-02-22Go_To_Market · Client count Clients rose to 451 in 2016 from 372, with 58 multi-year statements of work. INV29
  40. 2018-02Go_To_Market · Revenue mix shift Payers fell from 83% of revenue in 2015 to 69% in 2017; pharma and life sciences were 14% to 15% and providers rose to 15%. INV45
  41. 2018-03Go_To_Market · Less reliance on plans The ABILITY deal was reported as giving Inovalon scale and lessening its reliance on insurance companies. INV14
  42. 2018-03-07Product · ABILITY platform The ABILITY acquisition added myABILITY, a cloud connectivity, administrative and quality platform used by more than 44,000 provider facilities. INV13
  43. 2018-03-07Go_To_Market · Debt-financed provider reach ABILITY was bought for $1.2 billion, funded with a $980 million term loan, cash and $100 million of restricted stock. INV13
  44. 2020Go_To_Market · Subscription shift Subscription platform revenue was $585.1 million of $667.5 million in 2020 and 86% of fourth-quarter revenue. INV39
  45. 2021-08-19Product · Inovalon ONE The offering was presented as the Inovalon ONE Platform, informed by data on 338 million Americans and 63 billion medical events. INV30
  46. 2021-08-19Go_To_Market · Top accounts Customers included all of the top 25 US health plans, the top 25 global drug companies and 24 of the top 25 provider systems. INV30
  47. 2021-11-24Go_To_Market · Take-private A Nordic Capital-led consortium with Insight Partners completed the purchase at $41 a share; Dunleavy rolled equity and stayed CEO. INV9
  48. 2022-06Go_To_Market · Avalere sold Avalere was sold to Fishawack Health in 2022. INV38
  49. 2024Go_To_Market · Buyer survey A 2024 Black Book survey of payer users ranked the payer platform first for a fourth year, ahead of Optum and others. INV31
  50. 2024-02Product · VigiLanz The company acquired VigiLanz, a clinical surveillance and patient safety software and data company. INV15
  51. 2026-07-23Product · HEDIS default Converged Quality earned its 26th consecutive NCQA HEDIS certification and processed measures for over 85% of HEDIS covered lives, including 12 of the top 15 plans. INV56
  52. 2026-08-11Product · Linked real-world data Inovalon linked its closed-claims data (248 million lives) with OMNY Health EHR data and clinical notes for researchers. INV32
  53. 2026-10-01Go_To_Market · Life sciences data products Life sciences buyers are offered de-identified real-world data from over 160 sources covering over half of the insured population. INV28