Market Synopsis
Market
Research Future (MRFR), in its latest “Global Healthcare Electronic
Data Interchange (EDI) Market Size” was valued USD 2674 Mn in 2017
and is projected to grow at 8.60% CAGR by 2030. The Healthcare Electronic Data
Interchange (EDI) market is experiencing significant growth, driven in part by
the increasing adoption of Health Information Exchange (HIE) solutions. HIE
plays a crucial role in facilitating the seamless exchange of health-related
information among healthcare providers, improving patient care coordination and
enhancing efficiency within the healthcare ecosystem. As the demand for
interoperable health data continues to rise, healthcare organizations are
increasingly turning to EDI solutions to streamline their data exchange
processes. These solutions not only enable secure and efficient transmission of
patient data but also support compliance with regulatory standards such as
HIPAA.
Health Information
Exchange (HIE) serves as the backbone of electronic data interchange
in healthcare, enabling the secure sharing of patient information across
disparate systems and organizations. By leveraging EDI technologies within HIE
frameworks, healthcare providers can achieve greater interoperability, allowing
for more informed clinical decision-making and improved patient outcomes.
Additionally, the integration of EDI in HIE promotes cost savings by reducing
administrative overhead and minimizing errors associated with manual data
entry. As the healthcare industry continues to prioritize data-driven
approaches to care delivery, the Healthcare EDI market is poised for continued
expansion, driven by the growing demand for seamless interoperability and
enhanced data exchange capabilities facilitated by Health Information Exchange
systems.
Segmental Outline
The
global market of healthcare electronic data interchange (EDI)
market was studied by component, transaction, delivery mode, and end user.
Software
and services are electronic data interchange market’s component-based segments.
Web and cloud-based EDI, direct (Point-to-Point) EDI, EDI value added network
(VAN), and mobile EDI are delivery-mode based segments of the EDI market. The
market’s transaction-based segments are payment & remittance advance,
claims & encounters, claim attachments, eligibility inquiry and response,
enrolments, claim status and response, and referral certification and
authorization. By end user, the market segments are pharmaceutical &
medical device industries, healthcare providers, and healthcare payers, others.
The healthcare payers segment can hold the grand share of the overall market as
the rate of adoption of EDI by clinicians and physicians for financial management
is high. The pharmaceutical and medical device segment can strike a decent CAGR
through the study period.
Key Players
Cognizant,
Allscripts Healthcare Solutions Inc., Siemens Healthineers, The SSI Group, LLC,
Experian Information Solutions, Inc., ZirMed Inc., GE Healthcare, McKesson
Corporation, Optum, Inc., Schreiner Group, Passport Health Communications,
Emdeon Inc., and HealthFusion are some reputed healthcare electronic
data interchange software players.
Regional Summary
Americas
healthcare electronic data interchange market to be in the forefront. The high
pace growth of the healthcare electronic data interchange (EDI) market in
Americas can be attributed to surge in healthcare expenditure, increased
participation of marketers, and disruptive technologies in EDI software.
Europe
EDI market expansion can be attributed to hefty funds offered by governments
and the presence of favourable policy implementation.
Asia
Pacific healthcare electronic data interchange software market can surge at a
high growth rate due to increased investment in information technology. As per
the report offered by India Brand Equity Foundation (IBEF), India’s heavy
investment in the development of information technology sector can bolster the
expansion of the regional EDI market through the evaluation period.
In
MEA, the market of healthcare electronic data interchange software can emerge
in coming years.
Related reports-
Saliva Collection and
Diagnostics
