Friday, May 13, 2016

Oracle and Benefit Management LLC to Help Ease the Complexity of Bundled Payments Amidst Healthcare Reform

Press Release

Oracle and Benefit Management LLC to Help Ease the Complexity of Bundled Payments Amidst Healthcare Reform

Oracle and Benefit Management LLC Enable Healthcare Payors and Providers to Shift from Retrospective Payments to Prospective Bundled Payments

Redwood Shores, Calif.—May 13, 2016

Oracle today announced that Benefit Management LLC, a progressive health Third Party Administrator (TPA) and joint venture of NueHealth, has selected Oracle Health Insurance Value Based Payment Cloud Service to deliver a cloud-based prospective bundled payments system for healthcare payors and providers.

While the goal of healthcare reform has been to decrease costs and improve patient outcomes, it has healthcare payors and providers grappling with how to master the complexity of bundled payment models—specifically the shift from retrospective payments (paying for healthcare services after they are completed) to prospective payments (at the time the service is requested and agreement on a flat fee). 

Benefit Management LLC will harness the power of Oracle Health Insurance Value Based Payments Cloud Service to help payors seamlessly maneuver and scale complex bundled payments, and help ensure timely and accurate payment to providers as they move to a prospective bundled payments model.

“The transition to value-based payments is one of the biggest challenges facing payors and providers today,” said Chad Somers, CEO of Benefit Management. “It is imperative that all aspects of value-based payments be considered before making this change. Never before has combining the clinical outcomes with payment been so important. Oracle Health Insurance Value Based Payment Cloud Service will allow us to revolutionize bundled payments by processing payment at the time service is rendered instead of months later.”

The combination of Benefit Management’s services, backed by 20 years of success with a diverse client base of self-funded employers, and Oracle’s offering will allow Benefit Management customers to:

  • Easily navigate the transition to prospective bundled payments
  • Reduce the provider risk making it easier for providers to participate
  • Decrease the total cost of bundled procedures
  • Increase the quality of care for bundled procedures

“The Oracle insurance cloud solution can also be leveraged by Benefit Management’s self-funded employers,” Somers said. “Value-based programs, especially when you’re talking about bundles, are of tremendous benefit to self-funded employers, and the capability to manage and adjudicate claims based on those kinds of value-based contracts will be something employers can take advantage of to great effect.”

“Oracle Health Insurance Value Based Payment Cloud Service provides the technology platform to administer many different non fee-for-service arrangements in a single solution,” said Srini Venkatasanthanam, Vice President for Oracle Insurance. “Oracle’s health insurance solution enables organizations such as Benefit Management to reduce time-to-market and significantly lower overall cost of ownership. We look forward to enabling Benefit Management to deliver an innovative prospective bundling offering to the market.”

To learn more about Oracle’s Value Based Payment Component and the opportunities it will provide to provider, payors and employers, visit Benefit Management online at http://ift.tt/1TLsMNg

 
Contact Info
Valerie Beaudett
Oracle
+1.650.400.7833
valerie.beaudett@oracle.com
About Oracle

Oracle offers a comprehensive and fully integrated stack of cloud applications and platform services. For more information about Oracle (NYSE:ORCL), visit www.oracle.com.

About Benefit Management LLC

Benefit Management provides customized, high-quality health benefits administration programs to partially self-insured companies and association plans nationwide, and also delivers value-based administration solutions to providers and payors. The company, founded in 1995, has long been regarded as one of the Midwest’s leading third party administrators, with a reputation for flexibility, innovative services and outstanding customer service. Benefit Management is headquartered in Great Bend, Kan., with offices in Wichita, Kansas City and St. Louis, and administers insured lives in all 50 states.

About NueHealth

NueHealth is building a nationwide system of clinically integrated provider networks that puts healthcare into the hands of consumers. With a vast network of purpose-driven surgical centers and hospitals, NueHealth connects providers directly to consumers and aids them in delivering value-based payment options and improved outcomes. To deliver this improved value, NueHealth leverages proprietary technologies, online platforms, bundled payments and targeted programs and services. NueHealth gives providers and payors the tools and resources to stay ahead of healthcare’s continued evolution, while giving employers, insurance companies and patients access to a simplified model and affordable, high-quality, streamlined care.

Trademarks

Oracle and Java are registered trademarks of Oracle and/or its affiliates. Other names may be trademarks of their respective owners.

Safe Harbor

The following is intended to outline our general product direction. It is intended for information purposes only, and may not be incorporated into any contract. It is not a commitment to deliver any material, code, or functionality, and should not be relied upon in making purchasing decisions. The development, release, and timing of any features or functionality described for Oracle's products remains at the sole discretion of Oracle Corporation. 

Talk to a Press Contact

Valerie Beaudett

  • +1.650.400.7833


from All Oracle Press Releases http://ift.tt/1s7QnRR
via IFTTT
at No comments:
Labels: ,

Healthcare Organizations Turn to Oracle ERP Cloud for Industry’s Most Complete, Modern, and Proven Solution

Press Release

Healthcare Organizations Turn to Oracle ERP Cloud for Industry’s Most Complete, Modern, and Proven Solution

Oracle expands portfolio of healthcare customers with Adventist Health, Family Health, Presbyterian Medical Services, and Southern New Hampshire Health

Redwood Shores, Calif.—May 13, 2016

Oracle today announced that an increasing number of hospitals and healthcare systems worldwide are choosing Oracle Enterprise Resource Planning (ERP) Cloud to help increase productivity, lower costs, and improve controls. Adventist Health, Family Health, Presbyterian Medical Services, and Southern New Hampshire Health are just a few of the more than 1,800 organizations that have recently turned to Oracle ERP Cloud for a collaborative, efficient, and intuitive back-office hub with rich financial and operational capabilities to help reduce costs and modernize business practices to gain insight and productivity.

Healthcare organizations are under increasing pressure from regulatory agencies, consumers, employers, and governing boards to drive cost efficiency while maintaining quality patient care. Today’s healthcare systems are slow and expensive to maintain, especially when integrating a merged or acquired company. By standardizing on Oracle Modern Best Practice for Healthcare using embedded analytics, contextual social collaboration, and mobile technologies, healthcare organizations can achieve economies of scale faster to lower costs and access the innovative technologies to stay ahead of industry changes.

“Presbyterian Medical Services was looking for a complete cloud ERP solution that would help us drive efficiencies while maintaining quality patient care in a diverse, complex industry," said Chad Morris, senior ERP systems analyst, Presbyterian Medical Services. "In just 14 weeks, we were able to go live on Oracle ERP Cloud implementing a wide range of efficiencies with our 90+ locations across New Mexico. We are now in the process of going live on Oracle HCM Cloud."

“Hospitals and healthcare systems are contending with increased financial pressures resulting from rising costs coupled with reduced collections, an influx of data, and changing patient interactions due to high-deductible healthcare plans,” said Rod Johnson, senior vice president, Oracle. “We are committed to delivering innovative cloud solutions that help these healthcare organizations thrive and gain competitive advantage amid shifting industry conditions. Oracle ERP Cloud increases operational efficiencies and identifies growth areas to help healthcare organizations cost-effectively meet these challenges across their complex organizations and workforces.”

Built on a secure and scalable architecture, Oracle ERP Cloud provides customers with flexible alternatives via full or modular adoption, seamless integration across clouds, on-premise and third party applications, standardized best practices and rapid implementation templates, as well as extensive support for global companies in a wide variety of industries, including healthcare. Oracle ERP Cloud delivers complete ERP capabilities across financials, procurement, and project portfolio management, as well as Enterprise Performance Management (EPM), Governance Risk and Compliance (GRC) and Supply Chain Management (SCM). The portfolio includes deep global and industry-specific capabilities and is fully integrated with Oracle Human Capital Management (HCM) and Customer Relationship Management (CRM) solutions.

Contact Info
Nicole Maloney
Oracle
1.650.506.0806
nicole.maloney@oracle.com
About Oracle

Oracle offers a comprehensive and fully integrated stack of cloud applications and platform services. For more information about Oracle (NYSE:ORCL), visit www.oracle.com.

Trademarks

Oracle and Java are registered trademarks of Oracle and/or its affiliates. Other names may be trademarks of their respective owners.

Safe Harbor

The following is intended to outline our general product direction. It is intended for information purposes only, and may not be incorporated into any contract. It is not a commitment to deliver any material, code, or functionality, and should not be relied upon in making purchasing decisions. The development, release, and timing of any features or functionality described for Oracle's products remains at the sole discretion of Oracle Corporation. 

Talk to a Press Contact

Nicole Maloney

  • 1.650.506.0806


from All Oracle Press Releases http://ift.tt/1TKcWSY
via IFTTT
at 1 comment:
Labels: ,

Thursday, May 12, 2016

Simbec-Orion Group Streamlines its Clinical Trial Management Processes with Oracle’s eClinical Cloud Suite

Press Release

Simbec-Orion Group Streamlines its Clinical Trial Management Processes with Oracle’s eClinical Cloud Suite

Redwood Shores, Calif.—May 12, 2016

As more pharmaceutical companies outsource their clinical trials to contract research organizations (CROs), CROs are challenged to complete the clinical research in a more efficient and timely manner. Oracle Health Sciences today announced that Simbec-Orion Group Limited, a full service, international, boutique CRO, has adopted Oracle’s suite of eClinical cloud solutions to simplify the management of its customer’s clinical studies.

Oracle’s life sciences-specific solutions, combined with its broader product and service offering, are used by thousands of pharma, biopharma, and academic research centers worldwide to redesign clinical R&D processes, advance drug therapies, and optimize care delivery to improve the health, well-being, and lives of people globally.

Simbec-Orion Group selected cloud-based Oracle Health Sciences InForm, Siebel Oracle's Siebel Clinical Trial Management System, and Oracle Health Sciences IRT to supplement its clinical development processes, streamline data capture, and speed up trial timelines as Simbec-Orion expands its international, full-service, business offerings.

“We reviewed a wide range of providers to ensure, that as a world-class CRO, we were working with the best–in-class systems”, said Ronald Openshaw, CEO, Simbec-Orion. “We chose to partner with Oracle, the market leader in eClinical solutions, as we wanted to rely upon an excellent, secure, robust, and state-of-the-art service that will meet current and foreseeable, future, market needs.  We believe the scalability will drive efficiency in our work practices as we grow, especially in the light of increasingly complex clinical trials.”

“Oracle shares Simbec-Orion’s commitment to helping pharma and biotechnology companies deliver high-quality therapies to the patients we serve,” said Steve Rosenberg, senior vice president and general manager, Oracle Health Sciences. “ We look forward to working with Simbec-Orion as it further expands and enhances its clinical development services powered by our innovative technology.”

In 2014 through the merger of the two independent CROs, Simbec Research and Orion Clinical, Simbec-Orion Group was created as an international boutique CRO. Simbec-Orion Group now offers a full spectrum of drug development services from first-in-human Phase I clinical studies, through to pivotal Phase III studies and Phase IV post marketing studies. Starting in January 2016, unless the client expresses different requirements, new studies across the Simbec-Orion Group will use Oracle’s eClinical suite.

Contact Info
Samantha Thai
Oracle
+1.510.917.5564
samantha.thai@oracle.com
About Oracle

Oracle offers a comprehensive and fully integrated stack of cloud applications and platform services. For more information about Oracle (NYSE:ORCL), visit www.oracle.com.

Trademarks

Oracle and Java are registered trademarks of Oracle and/or its affiliates. Other names may be trademarks of their respective owners.

Safe Harbor

The following is intended to outline our general product direction. It is intended for information purposes only, and may not be incorporated into any contract. It is not a commitment to deliver any material, code, or functionality, and should not be relied upon in making purchasing decisions. The development, release, and timing of any features or functionality described for Oracle's products remains at the sole discretion of Oracle Corporation. 

Talk to a Press Contact

Samantha Thai

  • +1.510.917.5564


from All Oracle Press Releases http://ift.tt/1T8fBdo
via IFTTT
at No comments:
Labels: ,

China-Based Contract Research Organization Selects Oracle Cloud to Optimize Clinical Trial Data Management

Press Release

China-Based Contract Research Organization Selects Oracle Cloud to Optimize Clinical Trial Data Management

Redwood Shores, Calif.—May 12, 2016

Fountain Medical Development (FMD), a full-service Contract Research Organization (CRO) headquartered in Beijing, China, and its US affiliate, FMD K&L, have adopted Oracle’s cloud-based clinical data management solutions, to increase operational efficiencies and speed time to market. The solutions deliver increased productivity to the company’s drug development process, reduce overall costs, improve communications with its sponsors, and advance clinical study quality and speed, worldwide.

FMD was able to retire its aging, antiquated, legacy system and migrate to a more cost-effective cloud-based environment with Oracle Health Sciences InForm and Oracle Siebel Clinical Trial Management System (CTMS). The new, unified, technology platform has enhanced capabilities in data management, study planning and design, trial operations, analytics, and patient engagement.

“We are committed to delivering innovative solutions to our sponsors. This is why FMD decided to work with Oracle,” said Dr. Henry Wu, CEO, Fountain Medical Development. “Oracle’s data management solutions will enable us to improve our data quality, advance our trial data management efficiencies, reduce costs, and gain a deeper understanding of our clinical trial data across FMD’s integrated enterprise globally.”

Fountain Medical Development is a leading CRO offering a full range of International Conference on Harmonization Good Clinical Practice (ICH GCP) compliant clinical research services for multinational clients conducting clinical research in China. As one of the fastest growing clinical CROs in East Asia and China, FMD has established 12 operational offices throughout China, Hong Kong, Taiwan, Japan, Korea, the United States, and Armenia, with a strong focus on data management and biostatistics.

By moving to Oracle Health Sciences InForm and Oracle Siebel CTMS), FMD will gain powerful analytics capabilities that will provide a faster and better understanding of its clinical trial data across its locations, saving the company time and effort.

“Clinical research is becoming more complex and holistic by the day, and contract researchers are challenged to provide more services than ever before. Oracle Health Sciences provides global contract research organizations, like FMD, with an integrated platform and advanced analytics tools to help CROs and their sponsors find the cures of tomorrow,” said Steve Rosenberg, senior vice president and general manager, Oracle Health Sciences.

FMD is a member of the Oracle CRO Advantage Program, an initiative that helps drive CRO success with Oracle Health Sciences products through training, sales and marketing support, and bi-directional communication on Oracle products and strategy.

Contact Info
Samantha Thai
Oracle
+1.510.917.5564
samantha.thai@oracle.com
About Oracle

Oracle offers a comprehensive and fully integrated stack of cloud applications and platform services. For more information about Oracle (NYSE:ORCL), visit www.oracle.com.

Trademarks

Oracle and Java are registered trademarks of Oracle and/or its affiliates. Other names may be trademarks of their respective owners.

Safe Harbor

The following is intended to outline our general product direction. It is intended for information purposes only, and may not be incorporated into any contract. It is not a commitment to deliver any material, code, or functionality, and should not be relied upon in making purchasing decisions. The development, release, and timing of any features or functionality described for Oracle's products remains at the sole discretion of Oracle Corporation. 

Talk to a Press Contact

Samantha Thai

  • +1.510.917.5564


from All Oracle Press Releases http://ift.tt/1TI9PLf
via IFTTT
at No comments:
Labels: ,

Monday, May 2, 2016

Oracle Buys Opower

Press Release

Oracle Buys Opower

Together, Oracle and Opower Will Become the Largest Provider of Mission-Critical Cloud Services to the $2.3 Trillion Utilities Industry

Redwood Shores, Calif.—May 2, 2016

Oracle (NYSE: ORCL) today announced that it has entered into a definitive agreement to acquire Opower (NYSE: OPWR), the leading provider of customer engagement and energy efficiency cloud services to utilities, for $10.30 per share in cash. The transaction is valued at approximately $532 million, net of Opower’s cash.

Opower’s solutions enable over 100 global utilities, such as PG&E, Exelon and National Grid, to deliver a modern digital customer experience. Opower’s big data platform stores and analyzes over 600 billion meter reads from 60 million utility end customers, enabling utilities to proactively meet regulatory requirements, decrease the cost to serve, and improve customer satisfaction.

“Utilities want modern technology solutions that work together to meet their evolving customer, operational and compliance needs,” said Rodger Smith, Senior Vice President and General Manager, Oracle Utilities Global Business Unit. “Together, Oracle Utilities and Opower will be the largest provider of mission-critical cloud services to utilities.”

“The combination will provide the industry with the most modern, complete cloud applications for the entire utility value chain, from meter to grid to end-customers," said Dan Yates, Chief Executive Officer and Co-Founder, Opower. "We are excited to join Oracle and to bring even more value to our customers as part of the Oracle Utilities Industry Cloud Platform."

The Board of Directors of Opower has unanimously approved the transaction. The transaction is expected to close in 2016, subject to Opower’s stockholders tendering a majority of Opower’s outstanding shares and derivative securities exercised prior to the closing of the tender offer, certain regulatory approvals and other customary closing conditions.

More information about this announcement is available at http://ift.tt/1SIh7zb.

Contact Info
Deborah Hellinger
Oracle Corporate Communications
+1.212.508.7935
deborah.hellinger@oracle.com
Ken Bon
Oracle Investor Relations
+1.650.607.0349
ken.bond@oracle.com
About Oracle

Oracle offers a comprehensive and fully integrated stack of cloud applications and platform services. For more information about Oracle (NYSE:ORCL), visit www.oracle.com.

Trademarks

Oracle and Java are registered trademarks of Oracle and/or its affiliates. Other names may be trademarks of their respective owners.

Safe Harbor

The following is intended to outline our general product direction. It is intended for information purposes only, and may not be incorporated into any contract. It is not a commitment to deliver any material, code, or functionality, and should not be relied upon in making purchasing decisions. The development, release, and timing of any features or functionality described for Oracle's products remains at the sole discretion of Oracle Corporation. 

Cautionary Statement Regarding Forward-Looking Statements
This document contains certain forward-looking statements about Oracle and Opower, including statements that involve risks and uncertainties concerning Oracle’s proposed acquisition of Opower, anticipated customer benefits and general business outlook. When used in this document, the words “anticipates”, “can”, “will”, “look forward to”, “expected” and similar expressions and any other statements that are not historical facts are intended to identify those assertions as forward-looking statements. Any such statement may be influenced by a variety of factors, many of which are beyond the control of Oracle or Opower, that could cause actual outcomes and results to be materially different from those projected, described, expressed or implied in this document due to a number of risks and uncertainties. Potential risks and uncertainties include, among others, the possibility that the transaction will not close or that the closing may be delayed, the anticipated synergies of the combined companies may not be achieved after closing, the combined operations may not be successfully integrated in a timely manner, if at all, general economic conditions in regions in which either company does business, and the possibility that Oracle or Opower may be adversely affected by other economic, business, and/or competitive factors. Accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what impact they will have on the results of operations or financial condition of Oracle or Opower.

In addition, please refer to the documents that Oracle and Opower, respectively, file with the U.S. Securities and Exchange Commission (the “SEC”) on Forms 10-K, 10-Q and 8-K. These filings identify and address other important factors that could cause Oracle’s and Opower’s respective operational and other results to differ materially from those contained in the forward-looking statements set forth in this document. You are cautioned to not place undue reliance on forward-looking statements, which speak only as of the date of this document. Neither Oracle nor Opower is under any duty to update any of the information in this document.

Oracle is currently reviewing the existing Opower product roadmap and will be providing guidance to customers in accordance with Oracle’s standard product communication policies. Any resulting features and timing of release of such features as determined by Oracle's review of Opower’s product roadmap are at the sole discretion of Oracle. All product roadmap information, whether communicated by Opower or by Oracle, does not represent a commitment to deliver any material, code, or functionality, and should not be relied upon in making purchasing decision. It is intended for information purposes only, and may not be incorporated into any contract.

Additional Information about the Acquisition and Where to Find It
In connection with the proposed acquisition, Oracle will commence a tender offer for the outstanding shares of Opower. The tender offer has not yet commenced. This document is for informational purposes only and is neither an offer to purchase nor a solicitation of an offer to sell shares of Opower, nor is it a substitute for the tender offer materials that Oracle and its acquisition subsidiary will file with the SEC upon commencement of the tender offer. At the time the tender is commenced, Oracle and its acquisition subsidiary will file tender offer materials on Schedule TO, and Opower will file a Solicitation/Recommendation Statement on Schedule 14D-9 with the SEC with respect to the tender offer. The tender offer materials (including an Offer to Purchase, a related Letter of Transmittal and certain other tender offer documents) and the Solicitation/Recommendation Statement will contain important information. Holders of shares of Opower are urged to read these documents when they become available because they will contain important information that holders of Opower securities should consider before making any decision regarding tendering their securities. The Offer to Purchase, the related Letter of Transmittal and certain other tender offer documents, as well as the Solicitation/Recommendation Statement, will be made available to all holders of shares of Opower at no expense to them. The tender offer materials and the Solicitation/Recommendation Statement will be made available for free at the SEC’s web site at www.sec.gov.

In addition to the Offer to Purchase, the related Letter of Transmittal and certain other tender offer documents, as well as the Solicitation/Recommendation Statement, Oracle and Opower file annual, quarterly and special reports and other information with the SEC. You may read and copy any reports or other information filed by Oracle or Opower at the SEC public reference room at 100 F Street, N.E., Washington, D.C. 20549. Please call the Commission at 1-800-SEC-0330 for further information on the public reference room. Oracle’s and Opower’s filings with the SEC are also available to the public from commercial document-retrieval services and at the website maintained by the SEC at http://www.sec.gov.

Talk to a Press Contact

Deborah Hellinger

  • +1.212.508.7935

Ken Bon

  • +1.650.607.0349


from All Oracle Press Releases http://ift.tt/26Kkyz0
via IFTTT
at No comments:
Labels: ,
Subscribe to: Posts (Atom)