Today, Innovaccer Inc., the Health Cloud company, announced that it won the coveted "Patient Cost Savings" award at the 2021 UCSF Health Awards. Innovaccer was among more than 1,200 global digital health and life sciences companies competing across 16 categories of the prestigious awards program produced by the UCSF Health Hub.
The UCSF Health Awards recognize the best new products and technologies in digital health and life sciences. This year, more than 450 judges considered over 1,000 submissions to crown just 16 winners. The judges narrowed the category to just five finalists before naming Innovaccer as the leading company helping customers excel at generating patient cost savings.
"We're grateful to the UCSFhealth Hub and the judges for honoring Innovaccer with this prestigious award," says Abhinav Shashank, CEO of Innovaccer. "All of the finalists that were in the running are doing incredible work to drive unnecessary costs out of the healthcare system, and to be recognized as the best of the best is something everyone at Innovaccer can be proud of. We thank our customers for their partnership in our shared mission to help healthcare care as one, and we tip our hat to each and every stakeholder working collaboratively to improve outcomes, enhance experiences, and bend the healthcare cost curve."
Innovaccer's unique, data-driven approach to generating healthcare cost savings has been the cornerstone of the company's success. The Innovaccer Health Cloud and its Data Activation Platform topples healthcare information silos by connecting, ingesting, normalizing, and activating data from virtually any HIT or external source—including hundreds of EHR, imaging, pharmacy, claims, even SDoH and other community information sources—to create a holistic clinical and financial view of the patient. Real-time analytics applied to this unified patient record then give payers, providers, and life sciences companies unparalleled insights that help them improve care and risk management, reducing unnecessary care costs while ensuring high-quality care.
Innovaccer's solutions have been implemented in more than 1,000 care settings across America, unifying records of more than 24 million patients to help over 37,000 providers save more than $600 million and work more collaboratively and insightfully at the point of care. The Innovaccer Health Cloud's modular, extensible, cloud-native infrastructure has helped leading health systems such as Banner Health reduce IT infrastructure cost by 70%, saving more than $4 million; Elevate Health save $6 million in care costs; MercyOne PHSO cut readmission rates by 7.14%; and ACOs generate more than three times the shared savings of non-Innovaccer customers across Medicare, commercial, and employer contracts.