Oracle Health Clinical Data Exchange helps
reduce costly and time-consuming manual processes, to deliver
efficiency gains for payers and providers
AUSTIN,
Texas, Oct. 14, 2024 /PRNewswire/ -- Oracle today
announced general availability of Oracle Health Clinical Data
Exchange, a new, cloud-based solution that streamlines medical
claims processing through secure, automated data exchange between
healthcare providers and payers. Built on Oracle Cloud
Infrastructure (OCI), Oracle Health Clinical Data Exchange replaces
today's laborious manual transmission of medical records with a
secure, centralized network that helps reduce administrative time
and costs, speed approval of necessary patient clinical services,
and accelerates claims and payment processing. Oracle Health
Clinical Data Exchange is the first step towards offering payers a
comprehensive platform to enable instant claim evaluation and
processing and improve clinical decision making.
"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," said Kent Hoyos, vice
president and CIO, Information Services, Pomona Valley Hospital
Medical Center. "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."
Today, it is estimated that about 70% of authorizations are done
by phone or fax and only about 25% of documents related to
reimbursement are shared digitally between payers and providers.
This adds significant processing time for reimbursements and can
cause delays in patient care. The challenge for providers is
escalating as the volume of clinical data requests from payers is
growing annually. Oracle Health Clinical Data Exchange helps tame
clinical data administration chaos, moving providers and payers
from outdated manual processes to faster payer responses and claim
reimbursements, helping patients receive more timely care.
"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," said Seema
Verma, executive vice president and general manager, Oracle
Health and Life Sciences. "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."
Putting Patient Privacy and Data Security
First
Powered by OCI, Oracle Health Clinical Data Exchange
takes advantage of the same military-grade cybersecurity
capabilities used to protect data at some of the largest and most
sophisticated businesses, national defense agencies, and
governments around the world. Providers control their data and can
select what data to make accessible to their payer partners to
maintain strong data governance. To support policy compliance,
providers can audit selected clinical data with chosen payers to
confirm exactly which data was received. Using Oracle Health
Clinical Data Exchange, payers retrieve clinical data via FHIR
queries or bulk processing in an industry-standard format familiar
to payers. Oracle Health's centralized exchange enables payers and
providers to establish a presence on the network once and share
data with any other participant. No additional point-to-point
connections are required.
Customers can sign up for Oracle Health Clinical Data Exchange
by raising an SR in eService. Providers using Oracle
Health's electronic health record (EHR) can easily onboard
selected payers to Oracle Health Clinical Data Exchange at no
additional charge.
Find out more about it at the Oracle Health Summit in
Nashville on Oct. 29-30, 2024. The event brings together
global healthcare leaders to discuss how to tackle industrywide
challenges and apply new innovations.
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.
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SOURCE Oracle