Oracle introduced the Oracle Health Insurance Data Exchange Cloud Service, a new solution their complex data exchange needs. With the ability to create custom data mapping and designed to help healthcare insurers more easily onboard evolving data formats and simplify validation rules, insurers can speed the processing of new and proprietary data formats, streamline integration with partners such as the Centers for Medicare and Medicaid Services (CMS), and reduce costly and time-consuming IT projects with a modern, secure data exchange solution. The new SaaS service represents a transformative leap in data exchange capabilities, enabling insurers to facilitate the seamless exchange of data in real-time.

The service supports industry-standard formats, such as HIPAA X12 Electronic Data Interchange (EDI) enabling health insurers to exchange operational data with partners and government authorities with ease and efficiency. Key features of Oracle Health Insurance Data Exchange Cloud service include: User-Defined Data Transformation and Validations: enables business users to create custom data mappings, transformations, and validation rules, eliminating the need for lengthy and costly IT projects. This flexibility allows for quick onboarding of new partners and formats to speeds time to business value.

Visibility and Control: provides insurers with visibility into the data processing status and transformation stages, and the ability to oversee the exchange process in real-time to help ensure data integrity. Addresses Compliance with Regular Updates: supports changes needed to stay current with rules and regulations related to data format updates from government entities such as CMS, allowing insurers to remain compliant. Integration with Oracle Health Insurance Components: offers built-in integrations with Oracle Health Insurance components for all lines of business (Medicare Advantage, Medicaid, and Commercial), enables customers to integrate Oracle Health Insurance Core Administrative Solution quickly and seamlessly with their partners.