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By Staff Reporters
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According to reporter Neal Freyman, Tech giant Oracle said it’s paying $28.3 billion to buy electronic medical records company Cerner, because anything that makes paperwork less excruciating seems like a savvy business play.
Oracle is known for being aggressive with acquisitions (it even rallied a group to try and buy TikTok last year), but Cerner is Oracle’s biggest purchase in its history. The deal is further evidence that health care is “on par with banking in terms of the importance to our future,” as cofounder Larry Ellison told analysts earlier this month.
- In Cerner, Oracle will get the Klay Thompson of the electronic medical records market—a very influential player, but in second place behind Epic, which owns a 31% market share.
Bottom line: Big tech companies see a golden opportunity in bringing the health care industry to the cloud, given its size (health care spending accounts for almost 20% of US GDP), and its old-school record-keeping process. A Mayo Clinic study cited by Oracle showed that doctors and nurses spend an average of 1–2 hours on desk work for every hour they take to see patients.
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Filed under: Breaking News, Career Development, Experts Invited, Health Economics, Health Law & Policy, Information Technology, Videos | Tagged: Cerner, EMRs, Epic, health information technology, HIT, IT, Klay Thompson, Larry Ellison, Mayo clinic, Neal Freyman, oracle |
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“I work in a field that deals with medical records — and everyone should have a copy of their own records from every practice and doctor they’ve seen. The number of times I’ve seen false diagnoses on medical records or mix-ups with other people’s information is wildly high.”
Anonymous
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