ORACLE CORPORATION
Oracle was named a winner by Celent in its recent Health Policy Administration Systems: 2020 XCelent Awards1. The Celent ABCD Vendor View evaluates companies on several factors. Amongst the 22 health and medical product insurance administration systems reviewed,
According to Celent, 'Over the past decade, the health insurance market has been changing quickly. Health insurers are no longer simply paying medical bills and underwriting health. They are also supporting customers in various times of their life, including their efforts to keep in shape and to be better informed about their health. Therefore, the spectrum of products and services offered by health insurance companies has flourished, and companies are focusing on building a health ecosystem that adds value for the insured and patients.'
'Insurers are focused on modernization efforts to help ease what has historically been the painful process of processing claims,' said
Celent added, 'Oracle Health Insurance is a robust health insurance core system with global implementations...With its efforts to continuously invest in the solution, we think Oracle has the potential to further grow its health insurance customer base globally with the system.' In the report,
Supporting all features and functions needed to administer health insurance lines of businesses.
Being highly modular with all major components (claims, underwriting, etc.) available on a standalone basis.
A premium calculation definition that is particularly granular and intuitive even for a business user.
A medical provider management component that also offers granular configuration features and functions.
Already having been implemented in various regions, with the ability to accommodate ICD standards but also any other code system required in a region.
Providing an ETL layer so health insurers can mine the data using their preferred reporting and analytics tool.
A recent investment in the system architecture to ease its deployment and upgradability to the public cloud model.
For more information about
1. Celent, Health Policy Administration Systems: 2020 XCelent Awards,
Contact Info
Oracle PR
kris.reeves@oracle.com
+1 925 787 6744
Hill+Knowlton Strategies
brian.pitts@hkstrategies.com
+1 312 475 5921
About
Oracle provides modern, innovative technology that enables insurers to drive their digital transformation strategy forward. With Oracle's flexible, rules-based solutions, insurers can simplify IT by consolidating individual and group business on a single platform, quickly deploy differentiated products, and empower their ecosystem to improve engagement with customers and partners. Learn more at www.oracle.com/insurance.
About Oracle
The Oracle Cloud offers a complete suite of integrated applications for Sales, Service, Marketing, Human Resources, Finance, Supply Chain, and Manufacturing, plus Highly Automated and Secure Oracle Cloud Infrastructure featuring the Oracle Autonomous Database. For more information about
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