Inovaare Corporation: Cloud-based Platform to improve Compliance and Quality of Healthcare Industry
Date: Friday , October 23, 2015
With more regulation enforcement and rising cost of healthcare, the various service providers of healthcare industry is embracing to improve the compliance and quality process to operate the business profitably. The healthcare institutions had neglected the adoption of technologies to comply with its day-to-day operation and work processes. \"Compliance and quality requirements are no more an addition to the healthcare industry, it\'s now a part of the business processes and calls for hefty fines and loss of reimbursement from Center of Medicare and Medicaid, in case of any negligence adhering to it,\" says Pravat Rout, CEO and co-founder of Inovaare Corporation. The Cupertino-based company offers cloud-based solutions that help healthcare organizations to embed compliance and quality requirement for mitigating any risk non compliance and revenue loss.
The diversified healthcare sector and the different business model make it hard to build a uniform compliance solution that fits all. The Inovaare platform-based solutions takes away the pain of high cost and time consuming implementation of software solutions as customers can build new solutions or modify existing solution with zero coding. With the help of RackSpace, Inovaare built a HIPPA compliant data center to secure the data and comply with the government regulations. This hybrid model is private to each organization, but it\'s not stored on-premises, rather in the Inovaare data center securely connected to the organization\'s network, forbidding any unauthorized access.
Being a highly regulated industry, the compliance and quality process within the healthcare is bound to change with time. For instance, with the introduction of ObamaCare, the healthcare industry has seen the medical payment directly related to their quality of health services.
Among other solution, Inovaare\'s member and patient issue management is a next generation customer service solution enables healthcare insurance companies to process the complaints, appeals and grievances in timely manner as prescribed by Centers for Medicare and Medicaid services (CMS) and state regulatory bodies. The solution helps to improve the quality rating, timely providing service and patient satisfaction.
\"Our platform includes an app cloud, analytic cloud and data cloud components to configure any type of compliance and quality standards,\" explains Rout.
The company has so far build various solution including the automation of compliance department, member service and vendor oversight functions. The company aims to provide an affordable, easy to implement and secured technology, so that business can proactively manage and monitor the non compliance and identifies the root cause of systematic failure.
Along with many healthcare organizations, the firm has been a long time solution partner of with a large nationally operated health insurance provider. When they required to comply with guidelines related to customer issues, they had approached Inovaare to improve their processes within 3 months. As a part of improving and streamlining the process, the firm built an adherence model for the client\'s IT and security group. Inovaare platform\'s analytics module helped the customer in analyzing the root cause of the issues and reducing the number of issues, which has helped to improve the quality rating.
Digitizing the healthcare industry by bringing in more solutions, Inovaare strives to automate compliance and regulatory processes. Continuously aiming to provide a cost-effective solution, they now plan to expand its reach across other sectors like pharma and biotechnology.