Healthcare EDI Market Forecast 2024-2033: Projected CAGR, Key Drivers, And Trends

Overview and Scope
Electronic Data Interchange (EDI) is the software medium for the transaction of data among various healthcare providers and payers via computer systems. The organizer can process and track claims through the entire billing cycle via the EDI service. The healthcare EDI is used to manage the patient’s medical history, medication data, and emergency services record, which are considered critical data in the healthcare sector.

Sizing and Forecast
The healthcare edi market size has grown rapidly in recent years. It will grow from <b>$4.58 billion in 2023 to $5.07 billion in 2024 at a compound annual growth rate (CAGR) of 10.7%. </b> The growth in the historic period can be attributed to regulatory compliance, administrative efficiency, cost reduction, error reduction, claims processing.

The healthcare edi market size is expected to see rapid growth in the next few years. It will grow to <b>$7.84 billion in 2028 at a compound annual growth rate (CAGR) of 11.5%. </b> The growth in the forecast period can be attributed to telehealth expansion, data standardization, data privacy and security, inter-organizational data sharing, pandemic preparedness. Major trends in the forecast period include interoperability standards, prior authorization automation, blockchain for secure data exchange, mobile edi solutions, ai for claim scrutiny.

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Segmentation & Regional Insights
The healthcare edi market covered in this report is segmented –

1) By Component: Software, Hardware, Services
2) By Transaction: Claim Management, Healthcare Supply Chain, Other Transactions
3) By Mode of Delivery: Mobile, VAN, Web & Cloud-based, Point-to-point
4) By End User: Healthcare Provider, Payer, Pharmacies, Other End Users

<b>North America</b> was the largest region in the healthcare EDI market in 2023. <b>Asia-Pacific</b> is expected to be the fastest-growing region in the forecast period. The regions covered in the healthcare edi market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

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Major Driver Impacting Market Growth
The increasing government support for healthcare is expected to propel the growth of the healthcare EDI market growing forward. Healthcare EDI is used to share information between the departments and branches in super-specialty hospitals. Healthcare EDI software helps to transmit details including coordination of benefits, claims status and information, insurance data, payment data, and eligibility forms among healthcare. Rising government support for the healthcare industry helps the healthcare sector develop new equipment and provide better services for the people. It also helps to increase technology in government hospitals. For instance, according to the Indian Economic Survey, in 2021-22, India’s public healthcare spending reached 2.1%, up from 1.8% in 2020-21. Furthermore, the Union budget for 2022 allocated 11.28 billion for the growth of health care. Therefore, the increasing government support for healthcare drives the demand for the healthcare EDI market.

Key Industry Players
Major companies operating in the healthcare edi market include <b> McKesson Corporation, Optum Inc., Allscripts, GE Healthcare, Cognizant Technology Solutions India Pvt Ltd., Cerner Corporation, Dell Technologies Inc., The SSI Group, Tallan Inc., Quadax Inc., AthenaHealth, Schreiner Group, MuleSoft LLC, Boomi Inc., Change Healthcare Inc., Conduent Inc., Epic Systems Corporation, Siemens Healthineers, NextGen Healthcare, Infor Inc., Edifecs Inc., Waystar Inc., Experian Information Solutions Inc., Availity LLC, eClinicalWorks, National Education Association, Ability Network, PracticeSuite Inc., Quest Diagnostics, Jopari Solutions Inc., Alpha II LLC, TransUnion Healthcare, Bizmatics Inc., Healthpac Computer Systems </b>

The healthcare edi market report table of contents includes:

1. Executive Summary

2. Healthcare EDI Market Characteristics

3. Healthcare EDI Market Trends And Strategies

4. Healthcare EDI Market – Macro Economic Scenario

5. Global Healthcare EDI Market Size and Growth

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31. Global Healthcare EDI Market Competitive Benchmarking

32. Global Healthcare EDI Market Competitive Dashboard

33. Key Mergers And Acquisitions In The Healthcare EDI Market

34. Healthcare EDI Market Future Outlook and Potential Analysis

35. Appendix

Top Major Players:

McKesson Corporation

Optum Inc

, Allscripts

GE Healthcare

Cognizant Technology Solutions India Pvt Ltd

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