Using a standard Oracle Home, that is updated to the last patches, as the source to install new Oracle Homes can save a lot of time, compared to installing the same Oracle Home + Patches from scratch.
The procedure to clone an Oracle Home is simple and is well documented on a set of My Oracle Support documents that can be found on Document 1154613.1 ordered by release.
On this post I'm providing a step by step example of cloning a 11g R2 Home:
This is nice to have solution if you need to make multiple installs on many servers. Yo do one install + patches, then move that copy over to all other servers.