Major players in the healthcare EDI market are McKesson Corporation, Optum, Allscripts, GE Healthcare, Cognizant, Cerner, Dell Technologies Inc. , The SSI Group, Tallan Inc. , Quadax, AthenaHealth, Schreiner Group, MuleSoft LLC, and Boomi.
New York, July 01, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Healthcare EDI Global Market Report 2022" - https://www.reportlinker.com/p06290050/?utm_source=GNW
The global healthcare EDI market is expected to grow from $3.64 billion in 2021 to $4.03 billion in 2022 at a compound annual growth rate (CAGR) of 10.7%. The healthcare EDI market is expected to grow to $5.70 billion in 2026 at a CAGR of 9.1%.
The healthcare EDI market consists of sales of healthcare electronic data interchange systems by entities (organizations, sole traders, and partnerships) that are used to manage the patient’s medical history, the medication data, and the emergency services record, which are considered critical data in the healthcare sector.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 main types of transactions in healthcare EDI are claim management, healthcare supply chain, and others.Claim management is the organization, billing, filing, updating, and procedure of healthcare claims connected to patient diagnoses, medication, and treatment.
The different components include software, hardware, and services, and include various modes of delivery such as mobile, VAN, web & cloud-based, and point-to-point. These are used by healthcare providers, payers, pharmacies, and other end users.
North America was the largest region in the healthcare EDI market in 2021.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the healthcare EDI market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The healthcare EDI market research report is one of a series of new reports that provides healthcare EDI market statistics, including healthcare EDI industry global market size, regional shares, competitors with a healthcare EDI market share, detailed healthcare EDI market segments, market trends and opportunities, and any further data you may need to thrive in the healthcare EDI industry. This healthcare EDI market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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 in developing new equipment and to 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.
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 2020, Waystar, a US-based company that develops a technology platform which simplifies and unifies the healthcare payments cycle launched its new analytics software based on revenue cycle technology.It facilitates access to vital data insights and aids medical organizations during the pandemic situation.
Waystar fast-tracked the launch of this new software, which offers the intelligence healthcare leaders require to make strategic, reliable, and correct decisions in this environment.
In August 2020, Waystar, a US-based company that develops a cloud-based revenue cycle management platform and healthcare solutions acquired eSolutions for a deal amount of $1.3 billion. Through this acquisition, Waystar would combine both commercial and government payers into a single payment platform. This acquisition also helps Waystar to deliver outstanding innovation to the industry, helping healthcare organizations to accelerate income collection while reducing administrative costs and redundant tasks. eSolutions is a US-based healthcare technology company that develops revenue cycles.
The countries covered in the healthcare EDI market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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