At the Oracle Health Summit, Oracle Corporation (NYSE:ORCL) disclosed its plan to pursue qualification as a Qualified Health Information Network (QHIN) under the Trusted Exchange Framework and Common Agreement (TEFCA).
Oracle Health’s network will provide a centralized, secure gateway for healthcare data exchange, streamlining information sharing among hospitals, clinics, and insurers.
Built on Oracle Cloud Infrastructure (OCI), it leverages the company’s data security expertise to enhance the speed and efficiency of sharing by reducing unnecessary technology layers.
The network will also support diverse data types, including X-rays and MRIs, which are often unavailable in other exchanges.
This initiative is vital for accelerating data exchange and expanding the volume and variety of data in the healthcare ecosystem, enabling advanced AI capabilities to improve care decisions and optimize treatment pathways.
Seema Verma, executive vice president and general manager, Oracle Health and Life Sciences, said, “As we progress through the TEFCA QHIN application process, Oracle will continue to lead the industry in providing solutions that help reduce costs and complexity and improve the utility of information for patients and providers.”
In a separate release, Oracle introduced a new talent acquisition feature to Oracle Fusion Cloud Recruiting, part of Oracle Fusion Cloud Human Capital Management (HCM), to help healthcare organizations find the right talent to fill mission-critical roles and deliver higher-quality care.
Oracle Healthcare Talent Network will enable hiring managers to gain access to more qualified candidates, streamline talent sourcing, and quickly find skilled contingent workers by bringing together leading healthcare talent partners in Oracle Cloud HCM.
Apart from this, Oracle is enhancing its Fusion Cloud Applications Suite with new supply chain capabilities designed to help healthcare organizations optimize inventory management and improve patient care.
The latest updates to Oracle Fusion Cloud Inventory Management and Procurement will boost productivity, enhance insights, and refine buying decisions by automating inventory management, increasing visibility, and improving procurement data quality.
Investors can gain exposure to Oracle through iShares Expanded Tech-Software Sector ETF (BATS:IGV) and Pacer Funds Pacer Data and Digital Revolution ETF (NYSE:TRFK).
Price Action: ORCL shares are down 0.53% at $172.60 at the last check Monday.
Photo: Michael Vi/Shutterstock
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