The healthcare edi global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Healthcare EDI Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The healthcare edi market size has grown rapidly in recent years. It will grow from $4.58 billion in 2023 to $5.07 billion in 2024 at a compound annual growth rate (CAGR) of 10.7%. 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 $7.84 billion in 2028 at a compound annual growth rate (CAGR) of 11.5%. 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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Scope Of Healthcare EDI Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Healthcare EDI Market Overview
Market Drivers –
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.
Market Trends –
Technological advancements have emerged as the key trend gaining popularity in the healthcare EDI market. Major companies operating in the healthcare EDI market are focused on new technological innovations to sustain their position in the market. For instance, in May 2022, NextGen Healthcare Inc., a US-based software company that develops and distributes electronic health record software and practice management solutions to the healthcare sector, launched NextGen Health Data Hub Insights. NextGen Health Data Hub Insights is an innovative data warehouse and bespoke analytics solution. The platform is intended to make data access, analytics, and report production easier for health information exchanges (HIEs) and healthcare providers across the United States, allowing them to present a complete picture of patient and community health. Building on the NextGen Health Data Hub, which enables customers to exchange community-wide data, this contemporary solution enables them to further unleash the value of their data assets by providing customized, near-real-time reporting capabilities and insights at the point of treatment.
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
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Regional Insights –
North America was the largest region in the healthcare EDI market in 2023. Asia-Pacific 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.
Key Companies –
Major companies operating in the healthcare edi market include 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
Table of Contents
1. Executive Summary
2. Healthcare EDI Market Report Structure
3. Healthcare EDI Market Trends And Strategies
4. Healthcare EDI Market – Macro Economic Scenario
5. Healthcare EDI Market Size And Growth
…..
27. Healthcare EDI Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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