Oracle Delivers Foundation for More Intelligent Healthcare
- None.
- None.
The recent updates to Oracle Health Data Intelligence, notably the introduction of a new generative AI service for care management, represent a significant advancement in healthcare technology. This AI service aims to streamline the care management process by summarizing patient histories, thus potentially reducing manual chart review time for care managers. This innovation could lead to increased efficiency and allow care managers to reach more patients daily, which is particularly relevant as healthcare providers continue to seek ways to optimize operations amidst rising costs and regulatory pressures.
From a technology perspective, the integration of AI into healthcare platforms like Oracle Health Data Intelligence is indicative of a broader trend towards data-driven decision-making in the industry. The ability to integrate and analyze data from diverse sources such as EHRs, claims and demographic records can offer healthcare organizations a more holistic view of patient health, enabling personalized and proactive care. The reported performance improvements, such as faster page load times, are also critical as they directly contribute to user experience and operational efficiency.
Oracle's enhancements to its Health Data Intelligence platform could have a substantial financial impact on healthcare organizations by addressing cost reduction and reimbursement optimization. The reported cost reductions of 9-12 percent per member per month and increases in annual wellness visits by 40-60 percent per provider suggest that the platform can deliver tangible operational savings and revenue enhancements. These metrics are particularly compelling for commercial customers and providers operating within value-based care models, where financial performance is closely tied to patient outcomes and efficiency.
Additionally, the platform's ability to support Accountable Care Organization benchmarks for performance year 2024 indicates Oracle's commitment to aligning with current regulatory frameworks, which could further solidify its competitive position in the market. For investors and stakeholders, these updates may signal potential growth in Oracle's healthcare segment, driven by increased adoption and expansion of services within existing customer bases.
The regulatory implications of Oracle's enhanced Health Data Intelligence platform are significant, particularly with the inclusion of new capabilities like hierarchical condition category coding and support for Accountable Care Organization benchmarks. These features are designed to assist healthcare providers in meeting regulatory requirements, which are becoming increasingly complex as the industry shifts towards value-based care models. By simplifying compliance and enabling more effective management of patient populations, Oracle is positioning its platform as a critical tool for organizations navigating the evolving healthcare landscape.
Furthermore, the focus on addressing care gaps and improving quality of care aligns with the priorities of healthcare policymakers and regulators. The ability to leverage data to close care gaps and enhance patient engagement is in line with initiatives aimed at improving health outcomes and reducing long-term healthcare costs. As such, these enhancements could facilitate broader adoption of Oracle's platform among organizations seeking to meet regulatory goals while improving patient care.
Enhancements to Oracle Health Data Intelligence include new generative AI service that helps simplify care management
Suite empowers healthcare organizations to address regulatory requirements and improve quality of care while reducing costs
EHR-agnostic platform helps reduce data integration challenges, increase data security, and embed intelligence in clinical and operational applications
Powered by Oracle Cloud Infrastructure (OCI), Oracle Health Data Intelligence gives customers access to the same mission-critical security, performance, reliability, and other cloud capabilities that Fortune 100 customers in highly regulated industries rely on today. The platform integrates, secures, and analyzes data from a broad range of sources including electronic health records (EHR), enterprise applications, insurance claims, and demographic records, to provide a more comprehensive view of individual patients and overall population health. This proven, EHR-agnostic solution enables customers to eliminate the cost and complexity of trying to integrate disparate data and systems on their own, which risks an uncertain ROI and can take years, or even decades, to accomplish.
Already, customers using Oracle Health Data Intelligence have recognized extraordinary results, including an average of 9-12 percent in cost reductions per member, per month (for commercial customers); a 5X increase in care gaps closed over 3 years through increased breast cancer screenings; and an average of 40-60 percent increase in annual wellness visits per provider, per year.
"Turning data into insights is critical to solving the problems facing modern healthcare," said Seema Verma, executive vice president and general manager, Oracle Health and Life Sciences. "The new capabilities embedded within Oracle Health Data Intelligence can dramatically simplify customer efforts to address their regulatory goals, engage more patients, close care gaps, and lower cost of care delivery. With thousands of engineers and data scientists focused on platform enhancements, Oracle Health Data Intelligence is rapidly becoming an engine of innovation to control costs, enable breakthroughs, and drive industry transformation."
Updates to Oracle Health Data Intelligence include:
- A new generative AI service for care management that summarizes patient history for care managers to dramatically reduce their manual chart review time and help enable them to reach more patients every day. This service is now offered in limited availability;
- Expanded clinical quality content that enables providers to more easily identify and act on care gaps with the goal of improving patient outcomes;
- Expanded network and quality analytics with more pre-built analytics for common requirements including determinants of health, childhood wellness, immunization, and chronic conditions, such as diabetes and chronic obstruction pulmonary disease;
- Additional hierarchical condition categories from multiple Centers for Medicare & Medicaid Services models to help maximize reimbursements and optimize care. The new capabilities include automated alerts within the Oracle Health EHR that help encourage providers to focus on care gaps and take action with individual patients;
- Support for performance year 2024 Accountable Care Organization benchmarks to help monitor, manage, and increase gross savings;
- Performance improvements that accelerate insights with faster page load times.
"Oracle Health Data Intelligence platform has been a critical strategic asset throughout our organization, delivering actionable insights across multiple lines of business and empowering our providers to make more informed, precise decisions at the point of care," said April Feld, DNP, RN, NEA-BC, CCM, CPHQ, director of care management, Stony Brook Medicine. "Moving forward, we view Oracle Health Data Intelligence not just as a tool but as a catalyst for transformation. Leveraging recent updates, including the power of Oracle Cloud Infrastructure and generative AI, we believe Oracle Health Data Intelligence will shape the future of data-driven healthcare – helping us to better understand and manage complex patient information to more effectively and efficiently deliver care at an individual and population level."
Patient, population, and health system management at hyperscale
Taking advantage of OCI's significant price and performance advantages, as well as powerful data and AI platform capabilities, Oracle Health Data Intelligence helps healthcare providers, payers, public health organizations, government agencies, and research organizations to:
- Build custom analytics and AI capabilities with pre-built, open, and extensible tools that can help power innovation;
- Improve care by quickly identifying at-risk patients and suggesting a treatment path, and helping to enhance patient engagement, increase patient screenings, and close care gaps that can lead to long-term health challenges;
- Maximize resources by gaining a better understanding of and more control over network capacity, workforce utilization, revenue, and clinical program performance;
- Address regulatory and financial goals with pre-built regulatory and risk management services, unified population patient data, and embedded clinical applications that enable point-of-care hierarchical condition category coding.
"Oracle Health has demonstrated its ability to aggregate data from multiple sources, including non-Oracle Health EHRs, health information exchanges, and payers," said Jennifer Eaton, research director, Value-Based Healthcare Digital Strategies, IDC. "With its continued enhancements to Oracle Health Data Intelligence, Oracle is well positioned to help customers get the full value out of their data to drive meaningful change that can positively impact their organization and patients."
To see Oracle Health in action, please visit us at HIMSS in
About Oracle
Oracle 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.
Trademarks
Oracle, Java, MySQL and NetSuite are registered trademarks of Oracle Corporation. NetSuite was the first cloud company—ushering in the new era of cloud computing.
View original content to download multimedia:https://www.prnewswire.com/news-releases/oracle-delivers-foundation-for-more-intelligent-healthcare-302086675.html
SOURCE Oracle
