Oracle (NASDAQ:ORCL) has unveiled that its Autonomous Database on Oracle Cloud Infrastructure (OCI) is driving the transformative Aeromedical Electronic Health Record (EHR) initiative of the Royal Flying Doctor Service (RFDS). This cutting-edge system accelerates data collection and analysis for swift medical decisions, streamlining administrative tasks and reducing data management costs by approximately 20%.

Commencing their partnership in January 2022, RFDS has successfully launched a unified nationwide Aeromedical EHR supported by Oracle’s Autonomous Database. This innovation has eliminated manual record-keeping, establishing a dependable single data source.

Patient and emergency information now seamlessly synchronize across multiple touchpoints, including field operations, base, operation centers, and healthcare providers. Leveraging Oracle Integration Cloud, a network of application programming interfaces connects RFDS branches across the country, ensuring secure data exchanges across state borders and with vital national entities like the Australian Digital Health Agency and hospitals.

Moreover, RFDS employs Oracle GoldenGate to create a digital data twin for offline usage, facilitating real-time replication of the database. This empowers remote doctors in Australia’s remote regions to access and update current patient data using tablets, even without internet connectivity.

Oracle Aims to Stay Ahead in a Competitive Landscape through Continuous Innovations

Oracle faces formidable competition in the cloud healthcare sector from industry giants like Microsoft (NASDAQ:MSFT), International Business Machines (NYSE:IBM), and Amazon (NASDAQ:AMZN) Web Services. Oracle’s recent advancements are strategically designed to maintain its competitive edge.

Microsoft employs its cloud technology, particularly Microsoft Cloud for healthcare, to integrate functionalities from Microsoft Azure, Dynamics 365, Microsoft Power Platform, and Microsoft 365.

IBM offers healthcare clients a secure and open enterprise-level environment that accommodates diverse workload requirements and stages of cloud adoption. This platform accelerates research and ensures compliance with stringent security standards.

Amazon Web Services enables healthcare institutions to create patient-centric digital interactions through cloud services that aid in developing mobile apps and patient engagement portals.

OCI is engineered to support a wide spectrum of healthcare tasks, spanning conventional application systems to data-driven and machine-learning enhanced services. Its goal is to facilitate informed care decisions, predict patient risk factors, and deliver an improved and patient-centric healthcare experience.

Oracle has recently made significant strides by developing artificial intelligence tools to extract essential data from clinical notes within EHRs. Oracle is partnering with the Food and Drug Administration to gain deeper insights into the effects of medications on large populations. Focusing on the asthma drug montelukast and its potential mental health-related impacts, this two-year initiative demonstrates how applying machine learning and natural language processing technology to unstructured data can address informational gaps.

Shares of Oracle have gained 42% year-to-date compared to the 35% rise in the Computer and Technology sector during the same period. Oracle’s active contribution to reshaping health service management with innovative methods and technologies that enhance patient interactions, improve community health, and enhance team well-being is expected to drive cloud service revenues in the coming quarters.

The Consensus Estimate for ORCL’s fiscal 2024 cloud services and license revenues stands at $39.15 billion, reflecting a year-over-year growth of 10.9%. The earnings consensus estimate is $5.51 per share, indicating a year-over-year growth of 7.62%.

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