Healthcare Electronic Data Interchange (EDI) Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025
- Transparency Market Research
Electronic data interchange is a concept of electronic business communication. Healthcare electronic data interchange allows the interchange of computer-processable electronic healthcare data in a user-friendly format among healthcare institutions, healthcare professionals, and patients. Standardization, cost savings, improved productivity, and faster processing are some of the benefits offered by healthcare EDI. For instance, healthcare providers can send claim status requests and procure information using a predefined transaction set for organized, compliant information exchange. Healthcare electronic data interchange transactions are not email exchanges, unlike normal EDI. There are various applications of healthcare EDI systems some of them are dental and medical patient database management, clinical trials and regulatory data management, and insurance and reimbursement data management. Healthcare EDI contains exchange of electronic healthcare data between applications and computer systems. There are different modes for transaction in healthcare electronic data interchange (EDI) such as point-to-point EDI, web-based EDI, van EDI, mobile EDI, and EDI via AS2, employed by several end-users such as pharmacies, medical device & pharmaceutical industries, healthcare providers, and healthcare players. Healthcare EDI systems need to be modified with a data-centric system in order to provide a high level of data security and quality and to keep pace with the changing healthcare trends.
A key factor driving the healthcare electronic data interchange (EDI) market is the rising need to curtail healthcare cost and regularize electronic transaction. Moreover, rising government support for healthcare IT plays a vital role in driving the healthcare EDI market. The development of new regulations for transaction process is also positively affecting the expansion of the healthcare electronic data interchange (EDI) market. Additionally, the usage of electronic data interchange (EDI) provides affordable solutions for small as well as for medium-sized healthcare providers with improved scalability and flexibility. However, data security of patients is an issue that is likely to hamper the healthcare electronic data interchange (EDI) market. Moreover, initial high implementation cost for EDI software is a factor restraining the healthcare electronic data interchange (EDI) market.
The healthcare electronic data interchange (EDI) market can be segmented based on component, transaction type, delivery mode, end-user, and geographic regions. Based on component, the healthcare electronic data interchange (EDI) market can be classified into services and solutions. In terms of transaction type, the market can be segregated into claims management and healthcare supply chain. The claim management segment can be further sub-segmented into claim status, claims submission, eligibility verification, claim payment, payment remittance, referral certification & authorization, and other EDI transaction. Based on delivery mode, the healthcare electronic data interchange (EDI) market can be segmented into van EDI, web & cloud-based EDI, mobile EDI, and point-to-point EDI. In terms of end-user, the market can be divided into pharmacies, medical device & pharmaceutical industries, healthcare providers, and healthcare players. Based on geographic regions, the global healthcare electronic data interchange (EDI) market can be segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. The market in Asia-Pacific is expected to expand at a significant growth rate due to the consistent rise in patient volume and the need for proper management of massive patient data.
Key players operating in the global healthcare electronic data interchange (EDI) market include Capario Inc. Mckesson Corporation, GE Healthcare, SSI Group Inc., Passport Health Communication Inc., Siemens Healthcare, Experian PLC, Optum Inc., Cerner Corporation, and Allscripts Healthcare Solutions, Inc. These players are vigorously involved in various organic and inorganic growth strategies in order to gain competitive advantage in the market. Some of the vital strategies followed by these companies include collaborations, agreements, partnerships, and launch of new products.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold in the market
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.
Have query on this report?Make an Enquiry
The team was the biggest help to us. Not only were we provided with customized solutions but also we were guided through the most complicated situations. The information was on-point yet comprehensive. The experience was absolutely satisfying and helped us turn many challenges into opportunities.
Ours is a startup with a unique set of challenges and we were therefore hesitant but the team totally put us at ease with their knowledge and expertise. Our business and its challenges were understood perfectly and help was extended accordingly. The tailor made approach really helped us gain the most informative insights.
The report repository is absolutely impressive –updated and exhaustive in terms of markets covered and information provides. Besides, with the support extended to us by the team, we could reduce costs as well as move to sustainable growth. This really helped us tap into new opportunities. Happy to have gone ahead with ResearchMos.us.
We have had a long term engagement with ResearchMoz.us and never have we felt that the work done and help extended were below flawless. The report repository is one of the best one can hope to tap into. Recently, our partner businesses opted for consultancy services and they are all thrilled with the outcome.
Insights from reports helped us improve our profit margins significantly. Most of the knowledge we needed on the market were provided to us on a granular basis. From trends, and drivers to competitive analysis, the information was not just crisp but also insightful. That helped us chart a robust growth strategy and as of now we are happy to state that we are reaping big benefits.
More from Healthcare
Pharmaceuticals and HealthcareGlobal Bionic Ears Market Professional Survey Report 2017
Pharmaceuticals and HealthcareNeuropsychiatric Disorder Cluster Drug Development Pipeline Review, 2017
Pharmaceuticals and HealthcareHepatitis Drug Development Pipeline Review, 2017