Ongoing Innovation, Patient-First Approach Drives Successful 2020 for Oncology Analytics
Company increased revenue YOY by 40%, delivered over $100 million of financial impact to clients, and added 1.1 million incremental new members on prior auth platform
ATLANTA, March 2, 2021 /PRNewswire/ -- Oncology Analytics, a leading data analytics and technology-enabled services company purpose-built for oncology, leveraged an ongoing commitment to innovation and patient-first treatment approach to achieve key growth milestones for fiscal year 2020.
Over the past twelve months, Oncology Analytics:
- Grew GAAP revenue by 40%.
- Grew membership on the Oncology Analytics' prior authorization platform by 1.1 million users.
- Processed over $1.8 billion of anti-cancer drugs through the Oncology Analytics prior authorization platform.
- Increased the number of providers utilizing the platform to 5,600 across all 50 states, the District of Columbia and Puerto Rico.
- Delivered over $100 million of financial impact to its health plan partners.
- Achieved 95% positive provider satisfaction score, which graded competencies critical to program success, such as oncology expertise and ease of use of the utilization management software.
- Launched OneUM™, an innovative cross benefit prior authorization solution that enables providers to submit both medical benefit and pharmacy benefit cancer drug requests in a single transaction, saving time and ensuring safety.
In 2020, Oncology Analytics successfully implemented its OneUM™ platform with Harvard Pilgrim Health Care and Gateway Health as part of multi-year partnership agreements. The company also launched its Pharmacy Consulting Services to help health plans navigate the anti-cancer drug market by partnering with board-certified oncology PharmDs in areas such as improving oncology formulary strategy, creating biosimilar strategies and evaluating oncology drug policies.
Last year also marked the second year in a row the company was named to the Digital Health 150, an annual ranking that recognizes the most promising private companies creating innovative products and services to transform the healthcare industry.
"With 25 new anti-cancer drugs approved by the FDA and 66 new FDA indications in 2020, it is incumbent on health plans and providers to work together to ensure the appropriate therapies are being reviewed and approved for patients," said Rick Dean, Oncology Analytics' CEO. "Our unwavering focus on innovation and oncology will ensure that we can meet the demand and continue to grow and service our health plans' customers, their network providers, and the patients that depend on all of us to do what is in their best interest."
About Oncology Analytics
Oncology Analytics, Inc. provides health plans, providers, and patients with a data-driven, utilization management solution that delivers real-world, evidence-based analytics focused exclusively for oncology. Used by physicians to support 6 million health plan members in the US and Puerto Rico, the Oncology Analytics e-Prior Authorization platform covers the full spectrum of therapeutics, across all cancer types and stages, including chemotherapy, radiation therapy, precision medicine, targeted therapy, and supportive care. The extensive pathway library is continuously updated with the latest evidence-based protocols, which provides the most current options for value-based treatment paths for every patient case. For more information, please visit www.oncologyanalytics.com.
SOURCE Oncology Analytics, Inc.
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