BOWIE, Md., Nov. 07, 2023 (GLOBE NEWSWIRE) -- Inovalon, a leading provider of cloud-based software solutions empowering data-driven healthcare, today launched Agency Management to help healthcare providers efficiently manage third-party staffing agencies alongside their in-house workforce. Agency Management seamlessly integrates with Inovalon's Schedule Management, a cloud-based software solution offering a comprehensive workflow and analytics to effectively manage staff schedules, attendance, and credentials. This add-on solution makes it easy to identify workforce gaps, streamline external staffing requests, assign open shifts, and strategically manage agency resources for lower administrative costs while delivering valuable visibility into utilization trends and costs.

With 66% of providers currently operating under full capacity due to staffing shortages exacerbated by the COVID-19 pandemic, more provider organizations are relying on third-party staffing agencies for workers. ¹ Temporary staff are critical resources in the current environment, with the demand for agency usage expected to stabilize at about 60% higher than 2019 levels this year.² Management of external staff is time-consuming for nurse managers and schedulers, increasing administrative burden and driving higher costs. With Inovalon’s Agency Management SaaS solution, providers can more effectively manage staffing relationships with agencies. Customers surveyed cited unnecessary administrative tasks as a primary driver of agency costs. By eliminating these inefficiencies, Agency Management can reduce the overall cost to manage agency resources by up to 25% and ensure all shifts are adequately staffed.

Agency Management leverages intuitive technology to simplify the process of adding, removing, and maintaining agency organizations and individual employees for shifts. It also improves overall connectivity between healthcare organizations and agencies, providing nurse managers, schedulers, and agency administrators with an overview of available workers, schedule gaps, and historical staffing trends to help identify when and where staff are most needed for prioritization.

"Our organization is dedicated to finding innovative ways to provide superior patient care, and Agency Management with Inovalon can make the management of third-party agency resources as easy as managing our own staff," said Steve Boyd, Senior Director of HRIS at American Senior Communities. "We anticipate this SaaS solution will drive immediate value for our team, as well as thousands of others across the nation who need a solution to more efficiently manage temporary staff." 

"Workforce management is the number one concern for CEOs in healthcare today,³ and we're proud to bring a software solution to market that will make a difference for all stakeholders – from leaders and administrators at provider organizations and staffing agencies to individual caregivers," said Eron Kelly, President of Inovalon.

Agency Management is fully interoperable with Schedule Management, a cloud-based pure SaaS solution built on the Inovalon ONE^® Platform. To learn more, visit Inovalon Healthcare Agency Scheduling Management Software.

About Inovalon 

Inovalon is a leading provider of cloud-based software solutions empowering data-driven healthcare. The Inovalon ONE® Platform brings together national-scale connectivity, real-time primary source data access, and advanced analytics into a sophisticated cloud-based platform empowering improved outcomes and economics across the healthcare ecosystem. The company’s analytics and capabilities are used by more than 20,000 customers and are informed by the primary source data of more than 79 billion medical events across one million physicians, 654,000 clinical settings, and 375 million unique patients. For more information, visit www.inovalon.com.

Contact:        
Nick Panayi
Chief Marketing Officer, Inovalon
Nick.Panayi@inovalon.com

¹ KaufmanHall, 2023 State of Healthcare Performance Improvement: Signs of Stabilization Emerge
²Healthcare DIVE, Healthcare labor trends in 2023: increased burnout, executive stress
³American College of Healthcare Executives (ACHE), Survey: Workforce Challenges Cited by CEOs as Top Issue Confronting Hospitals in 2022