Inovaare Corporation Market Research Report

Company Overview

Name, Mission of the Company

Name: Inovaare Corporation

Mission: Empowering health plans with intelligent operational and compliance solutions.

When was the Company Founded and by Whom

No information is available

Key People in the Company

Pravat Rout, Chief Executive Officer

Brenda Wade, Chief Compliance Officer

Gabe Viola, Senior Vice President

Vipul Sanghvi, Chief Product Officer

Lakshmi Narasiman, Head of Product Delivery

Mohar Mishra, Chief Technology Officer

Raj Singh, Vice President

Tom Wagner, Vice President of Marketing

Craig Giangregorio, Senior Vice President, Healthcare Solutions

Steven Georgiadis, Senior Vice President, National Accounts

Unnikrishnan V, Head of Platform

Where is the Company Headquartered

1525 McCarthy Blvd. Suite 1005, Milpitas, CA 95035

4730 Palm Ave, Suite #213, La Mesa, CA 91941

Number of Employees

No information is available

Revenue of the Company

No information is available

What is the Company Known For

Inovaare is known for:

Automating compliance and operational management for healthcare plans.

Providing real-time data solutions for audit readiness and risk management.

Enhancing member experiences and compliance through AI-driven solutions.

Products

What Products Do They Offer

Appeals & Grievances

High-Level Description: Solutions for engaging members in real-time by resolving issues in a compliant manner.

Key Features:

Adhere to compliance deadlines and requirements

Monitor changes during the complaint process

Track and trend sales allegations outcomes

Audit & Monitoring

High-Level Description: Tools for auditing and monitoring compliance readiness.

Key Features:

Centralize and automate critical processes

Real-time audit view and process monitoring

Generate on-demand reports and analytics

Risk Management

High-Level Description: Solutions for managing risk with relevant real-time data.

Key Features:

Manage contract life cycles

Implement contract analytics

Track all contract parameters

Data Warehouse

High-Level Description: Integration and management of data in a centralized warehouse for better reporting and compliance.

Key Features:

Real-time data integration

Enhanced security features

Analytics and reporting tools

Key Features of Each of the Products

Appeals & Grievances: Real-time engagement, compliance with regulations, trend tracking.

Audit & Monitoring: Centralized controls, real-time monitoring, comprehensive reporting.

Risk Management: Lifecycle management, analytics, parameter tracking.

Data Warehouse: Real-time integration, security, analytics.

Recent Developments

What are the Recent Developments in the Company

Gartner’s Hype Cycle for Healthcare Payers, 2024 Report: Inovaare was recognized as a Sample Vendor.

Strategic Partnership: Announced partnership with RCG Global Services.

Appointments: Joya Bond appointed as Chief Strategy & Growth Officer.

Product Updates: Launched Usher 2.0, an enhanced version of its generative AI Compliance Assistant.

Office Expansion: New office launched in Bengaluru, India.

HITRUST Certification: Achieved HITRUST Risk-based 2-year (r2) Recertification.

What are the New Products Launched

Usher, Generative AI-Powered Compliance Assistant: Simplifying compliance processes with AI.

What are the New Features Added to the Existing Products

Usher 2.0: Enhanced version improving compliance efficiencies with generative AI.

Any New Partnerships

RCG Global Services: Partnership to leverage Inovaare’s healthcare suite of products and data platform for digital transformation.

Markets Served

Medicare: Compliance automation for MA/MAPD program requirements.

Medicaid: Tools for reducing fraud and improving compliance.

Commercial Health Plans: Enhancing member service and engagement.

Pharmacy Benefit Management (PBM): Solutions for compliance and quality management.

Contact Information

Headquarters: 1525 McCarthy Blvd, Suite 1005, Milpitas, CA 95035; Phone: 1.408.850.2235

San Diego Office: 4730 Palm Ave, Suite #213, La Mesa, CA 91941

Conclusion

Inovaare Corporation is at the forefront of providing compliance and operational solutions for the healthcare industry with a comprehensive suite of products designed to improve efficiencies, ensure compliance, and enhance member experiences. Their recent developments and strategic partnerships further position them as leaders in healthcare technology and compliance automation.