Healthcare EDI Market Globally to register highest growth by 2024
Sarasota, FL -- (SBWIRE) -- 10/12/2017 -- Global Healthcare EDI Market: Overview
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 healthcare industry. The major applications of the healthcare EDI are insurance and reimbursement data management, dental patient database management, regulatory data management, and clinical trials.
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The healthcare EDI market is segmented globally into its components, type of transactions, end-users, and mode of delivery. Based on the components, the global market is divided into EDI services and EDI software. On the basis of the type of transactions, the market is segregated into eligibility verification, referral certification authorization, premium payments, claim status, payment remittance, and enrollment/dis-enrollment transactions. On the basis of end users, the global market is categorized into healthcare payers, medical equipment and accessories suppliers/pharmacies, and healthcare providers (hospitals). The healthcare payers segment is further sub-segmented into government/public payers (Medicare and Medicaid) and private payers. The segment of private payers is further sub-classified into private practitioner transactions and hospital transactions. Based on the mode of delivery, the healthcare EDI market is categorized into point-to-point EDI, EDI VAN, Web-based EDI, Mobile EDI, and EDI via AS2.
In the recent years, there has been an increase in the patients that are suffering from chronic diseases, hence there is an increase in the data which has to be stored and maintained. Thus there is a huge demand for the healthcare EDI systems. The increasing number of research and development activities in the healthcare sector has also created a large amount of data which in turn is driving the healthcare EDI market. The technological advancements that are made in the EDI systems are increasing its applications in the various sectors. The increasing number of the end users such as private payers and hospitals is the other factor that is driving the market. Limited technological access and the high installation costs of the EDI systems are the factors that hamper the market growth.
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Region-wise, the healthcare EDI market is diversified into Asia-Pacific, Europe, North America, and Rest of the World. The regions that dominate the healthcare EDI market are the North America and Europe. The factors such as the presence of the advanced healthcare infrastructure along with good technological networks influence the growth of the market in a positive way. The increase in the aging population is also a factor that is favorable for the market growth. Asia-Pacific region also is having a good market share owing to the increasing developments in the healthcare sector and increase in the number of patients.
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.
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