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This Healthcare EDI Market is segmented by Component (Software, Hardware, and Services), Transaction, Mode of Delivery, End User, and Geography.
Fastest Growing Market:
The healthcare EDI market is expected to register a CAGR of 8% during the forecast period (2014 - 2024).
Healthcare electronic data interchange (EDI) can be defined as a structured method to transmit healthcare data between computer and data management systems. Recent government initiatives supporting healthcare resulting in efforts and concerns regarding adopting EDI systems, especially in the developed as well as emerging countries, are the biggest drivers of the healthcare EDI market. Management, processing, and transfer of the healthcare data, such as patient credentials, medication and diagnostic data, and emergency service records have previously been a resource-intensive and time-consuming task. However, following the digitalization, EDI has helped to manage this huge amount of data in a systematic, efficient, and accessible manner.
Moreover, other factors, such as emergence of Big Data analytics, favorable policy implementation, and the initiatives and incentive programs launched by different organizations to promote healthcare IT, are also driving the growth of the market.
Electronic data interchange (EDI) can be defined as a structured way to transmit data between computer systems, governed by agreed standards. EDI document has a standardized format, which ensures that data can be quickly interpreted on both sides. In healthcare, the majority of data management was done manually and ad-hoc, where protecting and securing healthcare information is a major concern. To speed up the healthcare data transfers and accessibility at the national and global levels, EDI is an important modality to invest into.
|Healthcare Supply Chain|
|By Mode of Delivery|
|Web- and Cloud-based EDI|
|Other Modes of Delivery|
|By End User|
|Medical Devices and Pharmaceutical Industry|
|Other End Users|
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Software is a major component of the entire electronic data interchange process, which includes multiple things for the management of healthcare facilities, globally. An EDI software is often used to convert the available data in a form that is readable by the machines, as well as for reading the data shared among trading partners. The payment facilities in healthcare are among the major stresses to healthcare administrations, and here the EDI is highly useful through their software. Apart from that, the EDI software is very important in the management of medical claims and standardization of data to ensure quick transfer.
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The EDI in healthcare is well-established across the United States. With UnitedHealthcare and other payers, this market is beneficial for providers and their billing services in multiple ways, such as fast information transfers, quick identification of submission errors and avoiding the claim processing delays, reducing the administrative expenses, lower account receivables, and exchange of information with multiple payers at one time.
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The healthcare EDI market is fairly fragmented and is highly competitive. Key players in the market include Allscripts Healthcare Solutions Inc., Cognizant, Emdeon Inc., GE Healthcare, McKesson Corporation, Optum Inc., Quadax Inc., Siemens Healthineers, SSI Group Inc., and Tallan Inc., among others
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Adoption of Big Data in Healthcare
4.2.2 Rising Need of Controlling the Healthcare Costs
4.2.3 Government Support to Increase the Information Technology in Healthcare Services
4.3 Market Restraints
4.3.1 Data Privacy and Security Concerns
4.3.2 High Cost of Implementation of EDI
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Component
5.2 By Transaction
5.2.1 Claim Management
5.2.2 Healthcare Supply Chain
5.2.3 Other Transactions
5.3 By Mode of Delivery
5.3.1 Web- and Cloud-based EDI
5.3.2 EDI VAN
5.3.3 Mobile EDI
5.3.4 Other Modes of Delivery
5.4 By End User
5.4.1 Healthcare Providers
5.4.2 Medical Devices and Pharmaceutical Industry
5.4.3 Other End Users
5.5.1 North America
18.104.22.168 Rest of Europe
22.214.171.124 South Korea
126.96.36.199 Rest of Asia-Pacific
5.5.4 Middle East & Africa
188.8.131.52 South Africa
184.108.40.206 Rest of Middle East & Africa
5.5.5 South America
220.127.116.11 Rest of South America
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Allscripts Healthcare Solutions Inc.
6.1.3 Emdeon Inc.
6.1.4 GE Healthcare
6.1.5 McKesson Corporation
6.1.6 Optum Inc.
6.1.7 Quadax Inc.
6.1.8 Siemens Healthineers
6.1.9 SSI Group Inc.
6.1.10 Tallan Inc.
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
**Competitive Landscape Covers- Business Overview, Financials, Products and Strategies, and Recent Developments