Oracle Streamlines Medical Claims Processing with Cloud-Based Solution

Oracle Corporation ORCL launched Oracle Health Clinical Data Exchange, a cloud-based solution that streamlines medical claims processing through secure, automated data exchange between healthcare providers and payers.

Built on Oracle Cloud Infrastructure (OCI), it replaces manual record transmission with a centralized network, reducing administrative costs, speeding up patient service approvals, and accelerating claims processing.

This solution is the first step toward offering payers a platform for instant claim evaluation and enhanced clinical decision-making.

Oracle Health Clinical Data Exchange, built on Oracle Cloud Infrastructure (OCI), uses military-grade cybersecurity to safeguard data.

Providers control their data and decide what to share with payers, ensuring strong governance and compliance. They can audit clinical data to confirm receipt by payers. Payers access data via FHIR queries or bulk processing in standard formats, enabling seamless data sharing across the network.

Kent Hoyos, vice president and CIO, Information Services, Pomona Valley Hospital Medical Center, said, “We’re excited to begin using this new Oracle Health solution, which we expect to help us more easily and securely respond to payer data requests, and ultimately ease the current burden on our staff.”

“Automating the process will help speed approval of necessary patient clinical services as well as payment processing and shorten the wait time for our patients to receive the care they need.”

Customers can sign up for Oracle Health Clinical Data Exchange by raising an SR in eService. 

Seema Verma, executive vice president and general manager, Oracle Health and Life Sciences, stated, “Healthcare has long been plagued by costly, time-intensive, and antiquated claims processing that results in billions of unnecessary fees each year, and ultimately a strained relationship between providers and payers.”

“Oracle Health Clinical Data Exchange helps eliminate this burden by simplifying and automating tedious and inefficient manual processes. It frees up valuable provider time, helps payers get more accurate and complete clinical information, and accelerates care approvals and reimbursements.”

Investors can gain exposure to Oracle through iShares Expanded Tech-Software Sector ETF IGV and Pacer Funds Pacer Data and Digital Revolution ETF TRFK.

Price Action: ORCL shares are up 0.33% at $176.34 at the last check Monday.

Photo via Shutterstock

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