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Inovalon's ScriptMed®: A Leader in Pharmacy Operations

Inovalon, a premier provider specializing in data-driven healthcare solutions, has recently announced its strategic collaboration with Oracle. This partnership focuses on enhancing the capabilities of ScriptMed®, their specialty and infusion pharmacy management software, through the innovative use of Oracle's Autonomous AI Database on Oracle Cloud Infrastructure (OCI). Recognizing this advancement, Oracle has designated Inovalon as a Global Leaders Champion for its commitment to leveraging Oracle's technology to optimize pharmacy operations.

Recognizing Leadership and Innovation

Oracle's executive vice president, Çetin Özbütün, stated that the Global Leaders Champion designation is awarded to companies demonstrating excellence in the implementation of Oracle's data management solutions. Inovalon's ability to handle significant operational scales while continually innovating places it as a leader in leveraging technology within the healthcare space. Such recognition emphasizes the importance of adapting to growing complexity in the specialty pharmacy sector, where intricate regulatory and data requirements are becoming the norm.

Transforming Pharmacy Management

The landscape of specialty pharmacy and infusion therapies is rapidly evolving due to advancements in complex therapies and stricter regulatory demands. Many traditional pharmacies struggle to manage their operations efficiently due to outdated on-premises infrastructure and manual database management. As transaction volumes increase, the demand for a reliable, scalable technological solution becomes imperative.

Inovalon's partnership with Oracle aims to address these challenges directly. By utilizing ScriptMed on the Oracle Autonomous AI Database, pharmacies can transition from cumbersome infrastructure management to streamlined operations that allow them to focus on expansion and improved patient care. The collaborative effort provides pharmacies with a flexible technology solution that can scale seamlessly to meet rising demands, enabling confident launches of new therapies and an expanded presence in the market.

Quotes from Industry Leaders

Ernie Shopes, the President of Inovalon’s Pharmacy Business Unit, emphasized that the partnership with Oracle should not be viewed merely as an infrastructure upgrade. Instead, it's a foundational strategy that allows pharmacies to flourish amidst the ongoing evolution of pharmacy operations that prioritize patient-centered approaches as therapy complexities and volumes rise. As specialty and infusion pharmacies expand, their supporting technology must be robust, adaptable, and ready to meet demand without delay.

Comprehensive Solutions with ScriptMed®

Inovalon’s ScriptMed® offers a holistic, data-enabled solution designed to improve operational efficiencies in specialty and infusion pharmacy processes. The software not only aims to reduce time-to-fill prescriptions but also ensures lower operational costs, enhances patient experiences, and improves overall health outcomes. ScriptMed® addresses several critical operational areas, including prescription intake, dispensing workflows, fulfillment, inventory management, clinical management, and revenue cycle management—all within compliant and secure environments.

The continuous investment in advanced technology such as the Oracle Autonomous AI Database allows Inovalon to remain ahead in the rapidly changing healthcare technology landscape. More information about Inovalon and its innovative pharmacy management solutions is available on their website.

About Inovalon

Inovalon is known for its data-centric approach to empowering healthcare systems. The Inovalon ONE® Platform is at the forefront of integrating national-scale connectivity, real-time access to primary source data, and advanced analytics to deliver enhanced outcomes and financial performance across the healthcare ecosystem. This innovative platform serves over 50,000 licensed customers and is informed by an impressive dataset exceeding 97 billion medical events involving 1.1 million physicians and 454 million unique lives, marking Inovalon as a key player in the healthcare data space. For more insights, visit Inovalon's official website.