To manage data such as patient’s medical history, the medication data, and the emergency services record is considered as very important in the healthcare sector. The healthcare professionals need systems that can manage the massive data in an effective manner, should be stored systematically, and access to the data should be easy. To solve such issues, electronic data interchange (EDI) is being implemented across the health care industry. The major applications of the healthcare EDI are insurance and reimbursement data management, dental patient database management, regulatory data management, and clinical trials.
The “Global Healthcare EDI Market Analysis to 2025″ is a specialized and in-depth study of the healthcare EDI industry with a focus on the global market trend. The report aims to provide an overview of global healthcare EDI market with detailed market segmentation by component, delivery mode, transaction type, end user, and geography. The global healthcare EDI market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading market players and offers key trends and opportunities in the market.
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The report provides a detailed overview on the industry overview and forecast of the global healthcare EDI market based on component, delivery mode, transaction type, and end user. It also provides market size and forecast till 2025 for overall healthcare EDI market with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 13 countries globally along with current trend and opportunities prevailing in the region.
North America is anticipated to hold largest share of the healthcare EDI market, followed by Europe due to presence of the advanced healthcare infrastructure along with good adoption of technological networks and growing geriatric population. Moreover, Asia Pacific is expected to have fastest growth in the market due to increasing need to manage large volume of patient data, and execution of HCIT programs in India, Japan, and Australia.
Global Healthcare EDI Market: Competitive Players
The key market players in the healthcare EDI market include Emdeon Inc., Mckesson, GE Healthcare, SSI Group, Passport Health Communications, Allscripts, Optum Health, Siemens Healthcare, Capario, and ZirMed.
Global Healthcare EDI Market: Segmentation
Healthcare EDI Market, by Component
Services
Solutions
Healthcare EDI Market, by Delivery Mode
Web & cloud-based
Point-to-point
Mobile EDI
EDI VAN
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Healthcare EDI Market, by Transaction Type
Claims management
Claims submission
Claim status requests
Eligibility verifications
Payment remittances
Referral certification & authorizations
Claim payments
Other EDI transactions
Healthcare supply chain
Healthcare EDI Market, by End User
Healthcare providers
Healthcare payers
Medical device & pharmaceutical industries
Pharmacies
Healthcare EDI Market, by Region
North America
US
Canada
Europe
Asia Pacific
Rest of the World
Report Description: http://www.marketgrowthanalysis.com/healthcare-edi-market-global
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The growth of this market is majorly attributed to the development of regulations for transaction processes, the rising need to curtail healthcare costs and government support for HCIT implementation.
Also, the need for the efficient management of electronic claims and reimbursement transactions (for healthcare providers) is expected to drive demand growth in the healthcare EDI market during the forecast period.The report Healthcare EDI Market is projected to reach USD 4.4 billion by 2025 from USD 3.0 billion in 2020, at a CAGR of 7.8% during the forecast period.Ask for PDF Brochure: - https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=130571438By delivery mode, the mobile EDI segment is expected to grow at the highest growth rate during the forecast periodAmong the delivery mode segment, the mobile EDI segment is expected to grow at the highest CAGR during the forecast period.
The factors attributing to the high growth of this segment include the technological upgrades in the healthcare industry and growing acceptance of mobile solutions among healthcare providers.By component, the services segment is expected to record the highest CAGR during the forecast periodThe services segment is expected to witness a faster growth rate in this market due to factors such as, the increasing claims volume, increasing complexity, and scale of EDI solutions, as they require extensive training programs.
Similarly, a growing trend of outsourcing activities, such as revenue cycle management, claims handling and management, and partner management services is also expected to propel the growth of the services market.By transaction type, the claims management segment is expected to account for the largest share of the healthcare EDI marketOn the basis of the transaction type, the healthcare EDI market is segmented into claims management and healthcare supply chain.
The claims management segment is expected to account for the largest share of the healthcare EDI market during the forecast period.
The large share of this segment can be attributed to the rising adoption of EDI services by healthcare providers and payers and the need to meet regulatory requirements.By end user, the healthcare payers segment to record the highest CAGR during the forecast periodBased on end user, the healthcare EDI market is segmented into healthcare providers, healthcare payers, medical device & pharmaceutical industries, and pharmacies.
The effective use of electronic data interchange (EDI) is the key to better healthcare supply chain management.
In healthcare supply chain management (SCM), EDI primarily focuses on the electronic exchange of business transactions such as purchase orders, shipment authorizations, shipment acknowledgements, advanced shipment notices, or invoices.
EDI provides a fast, secure, and easy exchange of information between healthcare organizations.According to the new market research report "European Healthcare EDI Market by Supplier (Distributors and Wholesalers, GPOS, Manufacturers), Purchasing Organization (Hospitals, GPOS), Transaction (Orders, Ordersp, Desadv, Recadv, Invoic) Transaction Types and Its Penetration", published by MarketsandMarkets™.The European healthcare EDI market is growing at a fast pace.
Due to growing competition and decreasing profit margins, pharmaceutical companies and medical device manufacturers in Europe are under increasing pressure to implement EDI systems that help them cut operating costs and remain competitive and profitable.
ORDERS, DESADV, and INVOIC are the most preferred EDI transaction types for supply chain management in hospitals across Europe.Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=93400242EDI is increasingly being adopted in the European healthcare industry; this market is expected to register significant growth due to greater uptake of EDI solutions among pharmaceuticals and medical device companies owing to various advantages such as reduction in the administration costs, reduced errors, pricing pressure, and lower profit margins.
Moreover, the increasing number of government initiatives toward the implementation of IT in the healthcare industry is estimated to propel the demand for healthcare IT solutions, which in turn will drive the healthcare EDI market.
Healthcare EDI Market SynopsisMarket Research Future (MRFR) asserts that the global healthcare electronic data interchange (EDI) market is slated to register 8.8% CAGR during the forecast period (2018-2023).
Electronic data interchange is referred to as a concept of electronic business communication which enables the interchange of computer-processable electronic healthcare data in the form of a user-friendly format.
EDI healthcare transactions enable the elimination of paper trials and digitize all the transactions which further leads to lower handling costs of the processing healthcare documents.
As per the estimations of the Workgroup for Electronic Data Interchange, the healthcare players can generate savings of USD 1 per claim for health plans, USD 0.86 for hospitals, USD 1.49 for physicians, and USD 0.83 for others, with the help of EDI.
Despite such hiccups, the utilization of EDI offers affordable solutions for the medium-sized as well as small-sized healthcare providers along with improved flexibility and scalability, thereby triggering its demand across the globe.Global Healthcare Electronic Data Interchange (EDI) Market: Segmental AnalysisThe global healthcare electronic data interchange (EDI) market has been segmented on the basis of transaction, delivery mode, component, and end user.By mode of component, the global healthcare electronic data interchange (EDI) market has been segmented into services and software.
Among these, the web & cloud-based EDI segment is considered to occupy a significant share owing to the non-requirement of software installations and low cost of web and cloud-based EDI.By mode of transaction, the global healthcare electronic data interchange (EDI) market has been segmented into eligibility inquiry and response, claims & encounters and payment & remittance advance, claim status and response, claim attachments, referral certification and authorization, and enrollments.By mode of end-users, the global healthcare electronic data interchange (EDI) market has been segmented into healthcare providers, healthcare payers, pharmaceutical & medical device industries, and others.
