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Health Systems Simplify Secure Data Exchange with Oracle Health

1. Oracle Health Connection Hub now available for U.S. healthcare providers. 2. Early adopters report 50% reduction in processing times for disability claims. 3. Solution simplifies data sharing and enhances control with a unified console. 4. Facilitates efficient management of clinical and financial data. 5. Supports participation in national interoperability frameworks for healthcare providers.

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Why Bullish?

The launch of the Oracle Health Connection Hub addresses crucial healthcare interoperability issues, promising cost savings and efficiency improvements. Similar tech rollouts have positively impacted Oracle’s stock in the past, indicating investor optimism.

How important is it?

The article discusses a strategic development in Oracle's healthcare business, which is vital for future revenue. This aligns with market trends towards integrated healthcare solutions, increasing investor interest.

Why Short Term?

Immediate adoption trends from healthcare providers can rapidly influence ORCL's stock, as successful implementation may lead to increased revenue. Historical examples show that new healthcare solutions often boost stock performance shortly after launch.

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New Oracle Health Connection Hub delivers single, unified console to enable data sharing control, auditing, and governance so health systems can easily manage a broad range of interoperability services Early adopters see 50 percent reduction in processing times of Social Security Administration disability benefit claims , /PRNewswire/ -- Oracle Health Connection Hub is now generally available for U.S. healthcare providers, enabling them to use a single console to more easily onboard, access, and manage preferences for Oracle Health interoperability solutions. The latest step in Oracle's strategy to increase interoperability and reduce friction between payers and providers, Oracle Health Connection Hub helps ease the administrative burden of managing multiple tools that facilitate sharing clinical and financial data with other healthcare providers, government entities, and payers. "We continue to deliver on our promise to simplify data exchange, increase data security, and automate manual processes between payers and providers," said Seema Verma, executive vice president and general manager, Oracle Health and Life Sciences. "Oracle Health Connection Hub empowers providers to customize the amount and types of data they choose to share with other providers and payers, which saves time and money while enhancing patient care." Simplified data management with enhanced security and controlAs health systems seek to drive efficiency, reduce the cost of care delivery, and improve care quality through secure data exchange, they are often forced to grapple with complex integration projects that use disparate tools to manage data sharing and take staff time and attention away from patient care. These challenges result in hospitals lacking optimal control over data and often lead to an incomplete view of the information they share with external parties. Built with the security, performance, and scalability of Oracle Cloud Infrastructure (OCI), Oracle Health Connection Hub mitigates the challenges by providing healthcare organizations with a comprehensive data governance and reporting console. Using the solution, authorized users gain a consolidated view into their data exchanges, so they can easily manage which organizations have access to specific data types and quickly remove access if needed to mitigate data privacy concerns. In addition, the console delivers a detailed audit trail, so providers can quickly and easily address policy compliance.  Oracle Health Connection Hub already simplifies connection and management of Oracle Health Clinical Data Exchange, which automates sharing of clinical data between providers and payers; Oracle Health Information Network for national interoperability networks that facilitate sharing of patient data with other providers across the U.S.; and with the Social Security Administration (SSA) to help streamline disability benefits determination and processing. Oracle Health Connection Hub will also help providers participate in the Trusted Exchange Framework and Common Agreement™ (TEFCA™) when Oracle Health Information Network Inc., a subsidiary of Oracle Health, becomes a designated Qualified Health Information Network® (QHIN™). Oracle Health customers will find it easier to opt into the program, agree to the terms of the Common Agreement, and onboard to join the U.S. government endorsed nationwide approach to offer secure, smooth, and standardized sharing of health information between providers, payers, and government agencies. Oracle Health expects to add connectivity to lab, immunization, and prescription networks in the future. Oracle Health Connection Hub is now available for all Oracle Health customers and is easy to access through Oracle Cloud Console at no additional charge. Electronically exchanging data helps reduce transfer time of patient dataUsing Oracle Health Connection Hub to streamline the connection with SSA helps providers significantly reduce the administrative work related to benefits claims processing. Since 2022, Oracle has worked with the SSA to help accelerate patient disability benefits claims through secure, clinical electronic health record (EHR) retrieval. Automating this process can cut record transfer times from weeks or months to seconds or minutes, thus speeding up the delivery of much needed benefits determinations and payments to patients and families. "By collaborating with medical record providers to receive patient records electronically, SSA can reduce typical application processing time for disability benefit allowances by almost 50 percent," said Sean Fry, executive advisor, Health Information Technology and Electronic Records, Office of Disability Policy. "Not only is electronically exchanging data with healthcare organizations more efficient, as it saves time to obtain medical records versus traditional methods like mail and fax, but it helps reduce costs for mailing and printing." Learn more about how Oracle is helping customers build open and connected health systems at www.oracle.com/health. About OracleOracle offers integrated suites of applications plus secure, autonomous infrastructure in the Oracle Cloud. For more information about Oracle (NYSE: ORCL), please visit us at www.oracle.com. TrademarksOracle, Java, MySQL and NetSuite are registered trademarks of Oracle Corporation. NetSuite was the first cloud company—ushering in the new era of cloud computing. Contact:Stephanie GreenwoodOracle Media Relations[email protected] SOURCE Oracle WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

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