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June 11, 2024 News No Comments

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Oracle reports Q4 results: revenue up 3%, adjusted EPS $1.63 versus $1.67, missing Wall Street expectations for both.

ORCL shares advanced in extended trading following the announcement as the company announced new cloud sales to Google and OpenAI.

Cerner was barely mentioned in the call and in none of the analyst questions.

From the earnings call:

  • The company sold 30 contracts worth $12 billion in the past quarter.
  • OpenAI will run deep learning and AI workloads on Oracle Cloud Infrastructure.
  • Starting in September, Google Cloud customers can directly access Oracle database services running in Oracle Cloud Infrastructure.
  • CEO Safra Catz said, “I will no longer be breaking out the Cerner business in my results. And even though it will begin to grow modestly throughout the year in both revenue and operating margins, it’s not necessary to break it out any more because it is now operating in a growth mode.”
  • Larry Ellison says that the company can serve small customers, with Oracle deploying small data centers at its own expense – ones that will fit on a ship or submarine – that provide a fall Oracle cloud using six standard half racks in a conventional data center, with the client paying only for the service they use.
  • Ellison says that Oracle is building a 200 megawatt data center and is planning some that are approaching a gigawatt.
  • Ellison says the industry will move to support customers who choose to run multiple clouds:  “We’ll get rid of these fees for moving data from cloud to cloud, and all the clouds will be interconnected, and customers can pick their favorite service from their favorite cloud and mix and match whatever they want to use and do it easily and seamlessly.“

Reader Comments

From HIT Girl: “Re: Ascension. Covering itself in glory yet again.” A member of the Four Tops soul group sues Ascension Macomb Oakland Hospital, alleging that ED employees who were treating him for shortness of breath placed him in a straitjacket, denied him oxygen, and ordered psychiatric tests after he informed them that he was a celebrity with a history of issues with stalkers and fans. Employees believed him only after his wife showed them phone video of him performing with the group at the Grammy Awards, after which the hospital offered a $25 gift card as an apology. Perhaps their skepticism was justified since the singer – who also runs a Los Angeles-based ministry – is 53 years old and the group’s last hit charted three years before he was born. More shocking is that the group, which was formed in 1953, still has a founding member on stage, 88-year-old Duke Fakir. They have upcoming US concert dates.


Webinars

June 26 (Wednesday) noon ET. “Population Risk Management in Action: Automating Clinical Workflows to Improve Medication Adherence.” Sponsor: DrFirst. Presenters: Colin Banas, MD, MHA, chief medical officer, DrFirst; Weston Blakeslee, PhD, VP of population health, DrFirst. What if you could measure and manage medication adherence in a way that would eliminate the burdens of medication history collection, patient identification, and prioritization? The presenters will describe how to use MedHx PRM’s new capabilities to harness the most complete medication history data on the market, benefit from near real-time medication data delivered within 24 hours, automatically build rosters of eligible patients, and identify gaps of care in seconds.

June 27 (Thursday) noon ET. “Snackable Summer Series, Session 1: The Intelligent Health Record.” Sponsor: Health Data Analytics Institute. This webinar will describe how HealthVision, HDAI’s Intelligent Health Management System, is transforming care across health systems and value-based care organizations. This 30-minute session will answer the question: what if you could see critical information from hundreds of EHR pages in a one-page patient chart and risk summary that serves the entire care team? We will tour the Spotlight, an easy-to-digest health profile and risk prediction tool. Session 2 will describe HDAI’s Intelligent Analytics solution, while Session 3 will tour HDAI’s Intelligent Workflow solution.

Previous webinars are on our YouTube channel. Contact Lorre to present or promote your own.


Acquisitions, Funding, Business, and Stock

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NeuroFlow, whose system helps risk-bearing healthcare organizations surface and support behavioral health needs, acquires Owl, which offers a measurement-based care platform.


Sales

  • Landmark Hospital of Cape Girardeau (MO) selects telemedicine services from Doctors Anytime.
  • Alliance Medical will implement Agfa HealthCare’s enterprise imaging software across its 120 imaging sites in the UK.
  • Olympic Medical Center (WA) will enhance its telecardiology program with software and services from Eagle Telemedicine.
  • The University of South Carolina will use Rimidi’s remote patient monitoring technology as a part of the postpartum care offered at an affiliated multispecialty clinic.

People

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Jim Deischer, MBA (Nordic) joins Cardamom Health as VP of finance.

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Teladoc Health names Chuck Divita (GuideWell) CEO.

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Ed Glynn, MD, MBA (HCA Healthcare) joins RhythmX AI as chief clinical officer.

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Ada Health names Nick Altebrando, MA (DayTwo) chief product officer and Yury Rozenman (Propeller Health) SVP of business development.


Announcements and Implementations

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St. Luke’s (MN) will transition to Epic as a part of its acquisition by Aspirus Health. They have been running Meditech, I believe.

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Belfast Health and Social Care Trust in Northern Ireland goes live on Epic.

In England, University Hospitals Coventry and Warwickshire NHS Trust will go live on Oracle Health later this week. The organization announced last October that it had paused its rollout plans to work through unspecified issues that were discovered during testing.

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Mount Sinai Medical Center (FL) implements remote patient monitoring capabilities from HealthSnap. Mount Sinai will deploy HealthSnap’s chronic care management services across its primary care facilities beginning next month.

CCS launches PropheSee, an AI-powered predictive model that improves continuous glucose monitoring device adherence rates by up to 50%, saving an estimated $2,200 per patient per year.


Privacy and Security

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The White House partners with Microsoft and Google to offer rural hospitals free and low-cost cybersecurity resources. Google has also committed to launching a pilot program with select rural hospitals to develop cybersecurity capabilities that are tailored to their needs.

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Australian e-prescribing vendor MediSecure faces insolvency as it deals with the effects of a ransomware attack in early May and being denied a government bailout afterward.


Sponsor Updates

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  • SmartSense by Digi sponsors the St. Louis Golf Classic benefiting Autism Speaks.
  • EClinicalWorks publishes a new customer success story, “Streamlining Data Reporting for Primary Care Centers of Eastern Kentucky.”
  • Wolters Kluwer Health announces that its UpToDate clinical decision support solution has been awarded accreditation with commendation from the Accreditation Council for Continuing Medical Education.
  • A hospital in South Carolina prepares to go live on Ascom’s Unite software.
  • KLAS recognizes Availity with its 2024 Points of Light Award for its collaborative work with prior authorization requests and approvals.
  • CereCore releases a new podcast, “What Matters to a Healthcare CFO? EHR Implementation & Strategic Planning Advice.”
  • Divurgent releases a new episode of The Vurge Podcast, “Aspire to Inspire: Chuck Podesta’s Journey of Healthcare IT Leadership and Reinvention.”

Blog Posts


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