Oracle Health is among the prominent platforms used by hospitals and health systems across the U.S. for a variety of functions, including the EHR.
Here are 35 things to know about Oracle Health.
1. Oracle Health incorporates the legacy Cerner EHR, which Oracle acquired for $28.4 billion in June 2022. At the time, Cerner had around 24.4% of the hospital market.
2. Oracle Health has 23.4% of the acute care hospital market share, according to KLAS.
3. The company added 66 new hospitals from 2022 to 2023, according to KLAS.
4. Around 23.8% of hospital beds in the U.S. are covered by Oracle Health EHR, according to KLAS.
5. Oracle Health added 9,279 beds from 2023-24, according to KLAS.
6. Oracle Health's big health system partners include UHS, University of Tennessee Medical Center and Vail Health.
7. Seema Verma, vice president and general manager of Oracle Health and Life Sciences, leads the division. Ms. Verma was previously CMS administrator under president Donald Trump.
8. David Feinberg, MD, former CEO of Cerner before the acquisition, now serves as chair of Oracle Health. Dr. Feinberg has previous experience as vice president of Google Health and CEO of Danville, Pa.-based Geisinger.
9. Oracle has spent the last year developing the next-generation, cloud-based EHR system. The company added generative AI to its suite of cloud applications, with Oracle Health Data Intelligence, formerly HealtheIntent, bumping system performance.
10. The company is expanding beyond the EHR as well. Oracle Health launched a cloud-based solution to streamline medical claims processing in mid-October. The solution is designed to accelerate patient clinical services approval by automating it instead of providers using phone calls or fax. It's the "first step" to offering payers a comprehensive instant claim evaluation and processing platform.
11. Oracle Health has a contract with the U.S. Department of Veterans Affairs to implement its EHR. The partners extended their $16 billion contract in June by 11 months as part of the ongoing EHR modernization efforts.
12. Several hospitals and health systems have selected Oracle Health EHR this year, including Logan Health in Kalispell, Mont., Kellogg, Idaho-based Shoshone Medical Center and Johnson Regional Medical Center in Clarksville, Ark.
13. One of Oracle health's most prominent partners, Franklin, Tenn.-based Community Health Systems, is working with the company on a project to deploy Oracle Health Enterprise Resource Planning system enterprisewide. The initiative aims to reduce costs and eliminate disparate technology systems for a more efficient operating performance across CHS' 70 hospitals.
14. AtlantiCare also entered into a partnership with OracleHealth for a six-year initiative called "Vision 2030" to embed 20 new solutions and more than 60 capabilities across the enterprise. AtlantiCare's goal is to enhance their EHR, physician workflows, standardize nursing operations and transform departmental workflows.
15. Larry Ellison, co-founder and chair of Oracle, said in April he thinks Oracle Health can surpass its biggest competitor, Epic Systems, by growing its footprint to control more aspects of the healthcare ecosystem. The company aims to automate communication with payers and provide cross-department functionality to better help organizations manage their workforce.
16. Safra Catz, Oracle's CEO, predicted the division would improve financial performance in the next year in March. Mr. Ellison thinks the addition of AI-centric healthcare cloud applications for hospitals and ambulatory clinics will drive growth.
17. Around half of legacy Cerner Millennium customers decided to transition to the Oracle Cloud Infrastructure, according to Mr. Ellison. He spoke on a December 2023 earnings call about the transitions, noting that customers would receive new features once in the cloud.
18. IDC MarketScape named Oracle a leader in 2023-24 US EHR vendor assessments and value-based health analytics.
19. Oracle Health reported a surge in AI adoption among its client healthcare organizations, according to an April KLAS report.
20. Key EHR improvements released in September include efficient chart review tools, advanced documentation capabilities, and enhanced medication processes to minimize errors.
21. AI has become prevalent in Oracle Health's EHRs as well. Dr. Feinberg said the company's Clinical Digital Assistant includes methodologies from technologies used in correctional facilities and law enforcement agencies to streamline check ins and reduce administrative burden for hospital staff.
22. Early results from incorporating Oracle Clinical Digital Assistant's mobile platform capturing audio from patient visits and drafting notes into the EHR showed 4.5 minutes saved per patient, dropping daily documentation time 20% to 40%.
23. Dr. Feinberg said Oracle Health's AI solutions will triple nursing capabilities with ambient listening and automation.
24. Oracle Health has been focused on interoperability with the Seamless Exchange platform to provide more access and consolidate patient records.
25. Oracle Health has embarked on an autonomous shield initiative to help more than 1,000 EHR customers migrate to Oracle cloud infrastructure.
26. Ms. Verma said in a July LinkedIn post that Oracle Health's EHR mission is to "get rid of the clicks" and reduce administrative burden.
27. Oracle reported $53 billion revenue for the 2024 fiscal year.
28. Oracle has 160,000 employees.
29. Oracle Health EHR serves 9.5 million beneficiaries worldwide.
30. Oracle's operating cash flow for the last 12 months hit $19.1 billion, according to the first quarter financial report released Sept. 9.
31. Oracle's cloud services revenues jumped 21% year over year in the first quarter.
32. Oracle has 430,000 customers worldwide and 300,000 cloud community members.
33. Oracle Health is the second-most archived EHR vendor, per health IT market intelligence.
34. Oracle Health has grown its market share of standalone and specialty hospitals in the last decade. Fifty-four specialty hospitals joined Oracle Health EHR since 2017.
35. Oracle reported plans to move world headquarters to Nashville, Tenn., in April to be closer to healthcare industry giants including HCA Healthcare. Cerner had been headquartered in Kansas City, Mo.