Yahoo Finance Oracle (ORCL) Enables Royal Flying Doctor Service's Record
Oracle ORCL has announced that its Autonomous Database on Oracle Cloud Infrastructure ("OCI") is driving the Royal Flying Doctor Service's (RFDS) latest Aeromedical Electronic Health Record (EHR) initiative. This system enhances data gathering and analysis for quicker medical decisions, minimizing administrative tasks and cutting data management expenses by around 20%.
Starting its collaboration with Oracle in January 2022, RFDS has launched a consolidated nationwide Aeromedical EHR supported by ORCL's Autonomous Database. This advancement has eradicated manual record keeping, creating a reliable singular data source.
Patient and emergency information can now be seamlessly synchronized across various points, including field operations, base, operation centers and healthcare providers. Powered by Oracle Integration Cloud, a network of application programming interfaces connects RFDS branches throughout the nation, ensuring secure data transactions across state boundaries and with key national entities like the Australian Digital Health Agency and hospitals.
Furthermore, RFDS employs Oracle GoldenGate to establish a digital data twin for offline usage, facilitating real-time replication of the database. This empowers remote doctors in Australia's isolated areas to access and update current patient data using tablets even without an internet connection.
Oracle Corporation Price and Consensus
Oracle Corporation price-consensus-chart | Oracle Corporation Quote
Oracle is Looking to Fend Off Competition With Constant Innovations
The company faces tough competition in the cloud healthcare market from giants like Microsoft MSFT, International Business Machines IBM and Amazon AMZN Web Services. Oracle’s recent initiatives are expected to fend off competitors.
Microsoft utilizes its cloud technology, particularly Microsoft Cloud for healthcare, to unify functionalities from Microsoft Azure, Dynamics 365, Microsoft Power Platform and Microsoft 365.
IBM supplies healthcare clients with a secure and open enterprise-level environment, accommodating various workload needs and stages of cloud adoption. This platform accelerates research and ensures adherence to strict security standards.
Amazon Web Services enables healthcare institutions to craft patient-focused digital interactions through cloud services that aid in crafting mobile apps and patient engagement portals.
OCI is designed to support a wide range of healthcare tasks, spanning traditional application systems to data-driven and machine-learning enhanced services. Its purpose is to provide enhanced care decisions, anticipate patient risk factors and offer an improved and patient-centric healthcare encounter.
Oracle recently achieved notable progress by creating artificial intelligence tools with the purpose of extracting essential data from clinical notes found in EHRs. Oracle will support the Food and Drug Administration in gaining deeper insights into the impacts of medications on sizable populations. Focusing on the asthma drug called montelukast and its potential mental health-related effects, this two-year initiative will illustrate how the application of machine learning and natural language processing technology on unstructured data could address information gaps.
Shares of this Zacks Rank #3 (Hold) company have gained 42% year to date compared with the Zacks Computer and Technology sector’s rise of 35% in the same period due to active contribution in the evolution of health service management by introducing inventive methods and technologies that transform patient interactions, enhance community health and boost team welfare. This is expected to boost cloud service revenues in the upcoming quarters.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for ORCL’s fiscal 2024 cloud services and licence revenues is pegged at $39.15 billion, indicating year-over-year growth of 10.9%. The Zacks Consensus Estimate for earnings is pegged at a profit of $5.51 per share, indicating year-over-year growth of 7.62%.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Amazon.com, Inc. (AMZN) : Free Stock Analysis Report
Microsoft Corporation (MSFT) : Free Stock Analysis Report
International Business Machines Corporation (IBM) : Free Stock Analysis Report
Oracle Corporation (ORCL) : Free Stock Analysis Report
