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Oracle (ORCL) Fusion Cloud Partners With Texas Children's Hospital
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Oracle (ORCL - Free Report) has announced that its Fusion Cloud Applications Suite has been implemented by Texas Children's Hospital, the largest children's hospital in the United States. This move aims to support the hospital's mission of promoting the well-being of children and women globally.
By adopting Oracle Fusion Applications, Texas Children's Hospital successfully consolidated seven business systems on a single integrated platform. This transformation has improved recruitment and employee retention, operational efficiency, cost reduction and allowed staff to allocate more time to patient care.
Texas Children's Hospital faced the need to optimize its operations and maximize the time dedicated to patient care. To achieve this goal, the hospital embarked on a thorough assessment and ultimately teamed up with Oracle Fusion Applications to streamline and simplify its finance, HR and supply chain processes.
This Hospital has experienced improved business visibility and reduced administrative workload for its employees after implementing Oracle Fusion Applications. Oracle, with its comprehensive range of healthcare-focused solutions, expresses its dedication to addressing the significant challenges faced by the healthcare industry.
The Zacks Consensus Estimate for ORCL’s first-quarter fiscal 2024 earnings is pegged at a profit of $1.14 per share, indicating year-over-year growth of 10.68%. The Zacks Consensus Estimate for Cloud services and licence revenues is pegged at $9.42 billion, indicating year-over-year growth of 11.93%.
Oracle’s Recent Healthcare Initiatives to Aid Top-Line Growth
Oracle has taken some key healthcare initiatives recently. These initiatives are expected to have a positive impact on the company’s top line. Some of these initiatives include partnering with Deloitte, Qatar Biobank and Hamad Medical Corporation.
Deloitte and Oracle recently unveiled an extended range of technology solutions aimed at advancing patient-centred and digitally-driven healthcare delivery. This collaboration broadens Deloitte's healthcare operating system by incorporating ORCL's implementation, operations and advisory services through a specialized offering known as Deloitte Health - Oracle Accelerated.
Qatar Biobank (QBB), an institution established to facilitate medical research, has successfully integrated with Oracle Cerner's electronic health record (EHR) system. This integration involves the implementation of the EHR as the clinical information system at Hamad Medical Corporation.
This development enables QBB to make significant contributions to healthcare advancements. The realization of Qatar's Vision 2030 emphasizes the establishment of a comprehensive and world-class healthcare system accessible to the Qatari population, promoting high-quality research and excellence in care delivery.
According to a Markets and Markets report, the healthcare cloud computing market is expected to witness significant expansion globally. It is projected to grow from $39.4 billion in 2022 to approximately $89.4 billion by 2027, indicating a compound annual growth rate of 17.8%.
This growth is expected to have a positive impact on Oracle’s top line while competing with key players in the healthcare cloud computing market, such as Microsoft (MSFT - Free Report) , International Business Machines (IBM - Free Report) and Amazon (AMZN - Free Report) Web Services.
Microsoft harnesses the power of its cloud technology, specifically Microsoft Cloud for healthcare, to consolidate capabilities from Microsoft Azure, Dynamics 365, Microsoft Power Platform and Microsoft 365.
IBM provides healthcare industry clients with a secure, open and enterprise-grade environment that caters to diverse workload requirements and cloud adoption stages. By leveraging this platform, healthcare organizations can expedite research efforts and ensure compliance with rigorous security standards.
Amazon Web Services empowers healthcare organizations to create patient-centric digital experiences by offering cloud services that facilitate the development of mobile applications and patient engagement portals.
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Oracle (ORCL) Fusion Cloud Partners With Texas Children's Hospital
Oracle (ORCL - Free Report) has announced that its Fusion Cloud Applications Suite has been implemented by Texas Children's Hospital, the largest children's hospital in the United States. This move aims to support the hospital's mission of promoting the well-being of children and women globally.
By adopting Oracle Fusion Applications, Texas Children's Hospital successfully consolidated seven business systems on a single integrated platform. This transformation has improved recruitment and employee retention, operational efficiency, cost reduction and allowed staff to allocate more time to patient care.
Texas Children's Hospital faced the need to optimize its operations and maximize the time dedicated to patient care. To achieve this goal, the hospital embarked on a thorough assessment and ultimately teamed up with Oracle Fusion Applications to streamline and simplify its finance, HR and supply chain processes.
This Hospital has experienced improved business visibility and reduced administrative workload for its employees after implementing Oracle Fusion Applications. Oracle, with its comprehensive range of healthcare-focused solutions, expresses its dedication to addressing the significant challenges faced by the healthcare industry.
The Zacks Consensus Estimate for ORCL’s first-quarter fiscal 2024 earnings is pegged at a profit of $1.14 per share, indicating year-over-year growth of 10.68%. The Zacks Consensus Estimate for Cloud services and licence revenues is pegged at $9.42 billion, indicating year-over-year growth of 11.93%.
Shares of this Zacks Rank #3 (Hold) company have gained 43.7% year to date compared with the Zacks Computer and Technology sector’s rise of 38% in the same period. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Oracle Corporation Price and Consensus
Oracle Corporation price-consensus-chart | Oracle Corporation Quote
Oracle’s Recent Healthcare Initiatives to Aid Top-Line Growth
Oracle has taken some key healthcare initiatives recently. These initiatives are expected to have a positive impact on the company’s top line. Some of these initiatives include partnering with Deloitte, Qatar Biobank and Hamad Medical Corporation.
Deloitte and Oracle recently unveiled an extended range of technology solutions aimed at advancing patient-centred and digitally-driven healthcare delivery. This collaboration broadens Deloitte's healthcare operating system by incorporating ORCL's implementation, operations and advisory services through a specialized offering known as Deloitte Health - Oracle Accelerated.
Qatar Biobank (QBB), an institution established to facilitate medical research, has successfully integrated with Oracle Cerner's electronic health record (EHR) system. This integration involves the implementation of the EHR as the clinical information system at Hamad Medical Corporation.
This development enables QBB to make significant contributions to healthcare advancements. The realization of Qatar's Vision 2030 emphasizes the establishment of a comprehensive and world-class healthcare system accessible to the Qatari population, promoting high-quality research and excellence in care delivery.
According to a Markets and Markets report, the healthcare cloud computing market is expected to witness significant expansion globally. It is projected to grow from $39.4 billion in 2022 to approximately $89.4 billion by 2027, indicating a compound annual growth rate of 17.8%.
This growth is expected to have a positive impact on Oracle’s top line while competing with key players in the healthcare cloud computing market, such as Microsoft (MSFT - Free Report) , International Business Machines (IBM - Free Report) and Amazon (AMZN - Free Report) Web Services.
Microsoft harnesses the power of its cloud technology, specifically Microsoft Cloud for healthcare, to consolidate capabilities from Microsoft Azure, Dynamics 365, Microsoft Power Platform and Microsoft 365.
IBM provides healthcare industry clients with a secure, open and enterprise-grade environment that caters to diverse workload requirements and cloud adoption stages. By leveraging this platform, healthcare organizations can expedite research efforts and ensure compliance with rigorous security standards.
Amazon Web Services empowers healthcare organizations to create patient-centric digital experiences by offering cloud services that facilitate the development of mobile applications and patient engagement portals.