Yahoo Finance Oracle (ORCL) Fusion Cloud Offering Aids North Memorial Health
Oracle‘s ORCL Fusion Cloud Applications Suite has been selected by North Memorial Health to streamline its finance, supply chain and HR processes. This move is aimed at improving operational efficiency, reducing costs and enhancing the overall experience for employees and patients.
North Memorial Health is a prominent health system and services provider. It offers high-quality, low-cost healthcare to the Twin Cities metro area through various facilities, including two hospitals, specialty and primary care clinics, urgent and emergency care and medical transportation services.
Oracle Fusion Applications are designed to offer embedded automation and AI capabilities to support efficiency, allowing healthcare workers to focus on delivering high-quality care to patients.
North Memorial Health faced challenges with 14 different business systems, which were complex, costly to maintain and created additional work for employees. The previous systems made it difficult to achieve an accurate view of the business.
To address these challenges, North Memorial Health decided to replace its multiple business systems with a single integrated cloud suite of applications. The organization chose Oracle Fusion Applications for its ability to eliminate manual processes, improve operational speed and accuracy and provide valuable insights.
Oracle Fusion Applications are expected to help North Memorial Health consolidate business processes in the cloud, reducing costs and enhancing business insights. The goal is to increase automation and improve the overall employee experience, allowing staff to focus more on patient care.
North Memorial Health plans to implement Oracle Fusion Cloud Enterprise Resource Planning (ERP), Oracle Fusion Cloud Enterprise Performance Management (EPM), Oracle Fusion Cloud Supply Chain & Manufacturing (SCM) and Oracle Fusion Cloud Human Capital Management (HCM).
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Oracle’s Healthcare Capabilities to Fend Off Competition
Oracle Fusion Cloud ERP, Oracle Fusion Cloud EPM and Oracle Fusion Cloud SCM are receiving healthcare-specific capabilities to help organizations consolidate systems and automate processes. This supports various healthcare delivery models, including telehealth and home- and community-based care.
The company introduced generative AI services for healthcare organizations, which are integrated with Electronic Health Record solutions. The Oracle Clinical Digital Assistant leverages generative AI and voice commands to reduce manual work for providers, allowing them to focus on patient care. Patients can also use voice commands for self-service actions like scheduling appointments and checking clinical information.
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The global healthcare cloud computing market is anticipated to reach $206.08 billion by 2032, at a CAGR of 17.9%, according to a current analysis by Emergen Research. This creates significant growth prospects for Oracle and other market leaders, including Microsoft MSFT, International Business Machines IBM and Amazon AMZN Web Services.
MSFT utilizes its cloud technology, Microsoft Cloud for healthcare, to integrate features from Microsoft Azure, Dynamics 365, Microsoft Power Platform and Microsoft 365.
IBM offers healthcare clients a secure, open and enterprise-level environment that accommodates various workload needs and the stages of cloud adoption. This platform enables healthcare institutions to accelerate research initiatives and maintain compliance with stringent security standards.
Amazon Web Services enables healthcare entities to craft patient-focused digital interactions through cloud services that support the creation of mobile apps and engagement portals for patients.
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