Oracle, a provider of integrated business software and hardware systems has just launched a new solution for health insurance exchanges. The solution consists of a broad range of Oracle applications and technology solutions that work together to deliver the functionality and services required by state governments to help ensure health insurance exchange success.
The recent Patient Protection and Affordable Care Act (PPACA) mandate says states create American Health Benefit Exchanges that enables individuals to purchase insurance, as well as separate exchanges for small employers to purchase insurance by 2014.
"The impending rollout of health insurance exchanges will require state governments to establish state-regulated and standardized health care plans, from which individuals may purchase health insurance that is eligible for Federal subsidies,” said Mark Johnson, senior vice president, Oracle Public Sector, in a statement.
“To help address the challenges state governments will face related to these requirements, Oracle offers a robust solution which consists of proven technologies that are architected to work together, and include the necessary capabilities needed to deliver a successful program," Johnson added.
Oracle's comprehensive solution for healthcare insurance exchanges combines Siebel Customer Relationship Management (CRM) Applications, Oracle Policy Automation Solution for Public Sector, Oracle Hyperion Planning, Oracle Business Intelligence Applications as well as Oracle Fusion Middleware components including Oracle Identity Management, Oracle WebCenter Suite, Oracle SOA Suite and Oracle Master Data Management Suite.
The solution supports health and human service programs and core business functions such as eligibility and enrollment; billings, collections and premium reconciliation; customer service; premium tax credit tracking; broker management; payment processing; and financial and management reporting.
Additionally, Oracle’s solution supports the Consumer Information and Insurance Oversight (CCIIO) and the Office of the National Coordinator for Health Information Technology (ONC) guidance including modular system integration, open service oriented architecture (SOA) and isolation of business rules.
With this solution, state governments can decouple business rules and integrations from underlying systems, for increased agility now demanded by legislators, according to Oracle officials. In addition, states can now react more quickly to policy changes so they can provide fair and consistent service to their citizens.
In a related announcement, Oracle said it is acquiring GoAhead Software, a pioneer in the development and delivery of packaged service availability software for the communications industry.
Rajani Baburajan is a contributing editor for HealthTechZone. To read more of Rajani's articles, please visit her columnist page.Edited by
Jamie Epstein
