United States Healthcare Information Exchange Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The United States Healthcare Information Exchange Market is segmented by Implementation Model (Centralized/Consolidated Models, Decentralized/Federated Models, and Hybrid Model), Setup Type (Private and Public), Application (Internal Interfacing, Secure Messaging, Workflow Management, Web Portal Development, and Patient Safety), Exchange Type (Direct Exchange, Query-based Exchange, and Consumer-mediated Exchange), and Component (Enterprise Master Person Index (EMPI), Healthcare Provider Directory (HPD), Record Locator Service (RLS), Clinical Data Repository, and Other Components). The report offers the value (in USD million) for the above segments.

Market Snapshot

United States healthcare information exchange market overview
Study Period: 2019-2027
Base Year: 2021
CAGR: 9.2 %

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Market Overview

The United States healthcare information exchange market is expected to witness a CAGR of 9.2% during the forecast period.

The main factors driving the market growth include the increasing demand for electronic health records, government support via various programs and incentives, and reduction in healthcare costs and improved efficacy.

The main challenge for the healthcare system in many countries was to limit the spread of COVID-19 among people and provide the best care to infected patients and decrease the number of possible deaths. A profound impact on the electronic medical records market was observed as well. Health information systems have been designed for tracking patients, which is the need for an hour due to the rising number of COVID-19 patients. Thus, several companies are offering new electronic medical records-based products. For instance, in March 2020, Health Gorilla, a leader in clinical data interoperability, announced that COVID-19 test ordering is now available through its platform. Healthcare providers using Gorilla's web application, a Health Gorilla-partnered developer, or a Health Gorilla-integrated EMR can place COVID-19 test orders and receive test results from LabCorp and Quest.

Health information exchange allows doctors, pharmacists, nurses, healthcare providers, and patients to access and securely share the patient’s medical information, electronically, thus improving the quality, safety, speed, and cost of patient care. Healthcare information exchange (HIE) is an important part of health information technology (HIT). In the North American region, governments have advised hospitals and clinics to change conventional medical records into an electronic format for better storage of patient data. For instance, as per an October 2020 update by the United States Department of Veteran Affairs, the Federal Electronic Health Record Modernization (FEHRM) program office announced the Department of Veterans Affairs (VA), Department of Defense (DOD), and Department of Homeland Security’s United States Coast Guard (USCG) expanded their joint health information exchange (HIE) network. The joint HIE is a modernized health data sharing capability that enhances the ability of VA, DOD, and USCG to quickly and securely share electronic health record (EHR) data bidirectionally with participating community health care providers. Owing to the increase in government initiatives and high engagement of a private setup in HIE, the market is expected to witness exponential growth.

Moreover, in April 2022, California launched its long-awaited statewide health information exchange (HIE) to improve patient data sharing between payers and healthcare providers throughout the state. Similarly in May 2021, Connecticut launched its statewide health information exchange to streamline patient data exchange across the state. Thus, such initiatives are expected to boost the growth of the market over the forecast period.

Moreover, factors like the rising need for an integrated healthcare system, big data trends in the healthcare industry, and technological advancements in data storage are driving the growth of the health information exchange market.

However, huge initial infrastructural investment, slow return on investment and data privacy and security concernsare the factors restraining the market growth.

Scope of the Report

Health information exchange is the mobilization of healthcare information electronically, across organizations within a region, community, or hospital system. The United States Healthcare Information Exchange Market is segmented by Implementation Model (Centralized/Consolidated Models, Decentralized/Federated Models, and Hybrid Model), Setup Type (Private and Public), Application (Internal Interfacing, Secure Messaging, Workflow Management, Web Portal Development, and Patient Safety), Exchange Type (Direct Exchange, Query-based Exchange, and Consumer-mediated Exchange), and Component (Enterprise Master Person Index (EMPI), Healthcare Provider Directory (HPD), Record Locator Service (RLS), Clinical Data Repository, and Other Components). The report offers the value (in USD million) for the above segments.

By Implementation Model
Centralized/Consolidated Models
Decentralized/Federated Models
Hybrid Model
By Setup Type
Private
Public
By Application
Internal Interfacing
Secure Messaging
Workflow Management
Web Portal Development
Patient Safety
By Exchange Type
Direct Exchange
Query-based Exchange
Consumer-mediated Exchange
By Component
Enterprise Master Person Index (EMPI)
Healthcare Provider Directory (HPD)
Record Locator Service (RLS)
Clinical Data Repository
Other Components

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Key Market Trends

The Decentralized/Federated Model is Expected to Hold the Largest Market Share

The decentralized/federated model segment holds the largest market share and is expected to retain its share during the forecast period. In a federated HIE, there is no master database. In this model, each healthcare provider is responsible for maintaining the records of their patients. In this model, the main function of HIE is to facilitate the providers in exchanging patient records among themselves, when the need arises. The salient distinction of a federated model is that there is no central database from which a previously compiled, the comprehensive medical record is stored and can be downloaded. The advantages, such as low conflicts related to data ownership and compartmentalization of data, which makes it less vulnerable to data thefts, along with lower implementation costs when compared to other models, are leading to its high adoption rates.

the market is projected to flourish further due to the higher adoption of digital healthcare in the country and the rising investments by the companies. For instance, as per the 2020 update by the United States Department of Veteran Affairs, the Federal Electronic Health Record Modernization (FEHRM) program office announced the Department of Veterans Affairs (VA), Department of Defense (DOD), and Department of Homeland Security’s United States Coast Guard (USCG) expanded their joint health information exchange (HIE) network. The joint HIE is a modernized health data sharing capability that enhances the ability of VA, DOD, and USCG to share data bidirectionally electronic health records (EHR) quickly and securely with participating community health care providers.

With the rising significance of the decentralized/federated model, it is projected to see a rapid future growth estimated for this segment over the forecast period.

United States Healthcare Information Exchange Market 1

Competitive Landscape

The United States healthcare information exchange market is fairly competitive and consists of several major players. Due to high adoption rates of new technology and wide availability of reimbursement, which necessitates the use of information exchange systems, the United States is at the forefront of healthcare information exchange implementation. Thus, nearly all the global players are operating in the country. Companies, like Cerner Corporation, Allscripts Healthcare Solutions, Mckesson Corporation, Eclinical Works, and Epic Corporation Inc., hold a substantial market share in the market.

Recent Development

  • In April 2022, California launched its long-awaited statewide health information exchange (HIE) to improve patient data sharing between payers and healthcare providers throughout the state.
  • In May 2021, Connecticut launched its statewide health information exchange to streamline patient data exchange across the state. 

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Increasing Demand for Electronic Health Records Resulting in the Expansion of the Market

      2. 4.2.2 Government Support via Various Programs and Incentives

      3. 4.2.3 Reduction in Healthcare Cost and Improved Efficacy

    3. 4.3 Market Restraints

      1. 4.3.1 Huge Initial Infrastructural Investment and Slow Return on Investment

      2. 4.3.2 Data Privacy and Security Concerns

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION (Market Size By Value - USD Million)

    1. 5.1 By Implementation Model

      1. 5.1.1 Centralized/Consolidated Models

      2. 5.1.2 Decentralized/Federated Models

      3. 5.1.3 Hybrid Model

    2. 5.2 By Setup Type

      1. 5.2.1 Private

      2. 5.2.2 Public

    3. 5.3 By Application

      1. 5.3.1 Internal Interfacing

      2. 5.3.2 Secure Messaging

      3. 5.3.3 Workflow Management

      4. 5.3.4 Web Portal Development

      5. 5.3.5 Patient Safety

    4. 5.4 By Exchange Type

      1. 5.4.1 Direct Exchange

      2. 5.4.2 Query-based Exchange

      3. 5.4.3 Consumer-mediated Exchange

    5. 5.5 By Component

      1. 5.5.1 Enterprise Master Person Index (EMPI)

      2. 5.5.2 Healthcare Provider Directory (HPD)

      3. 5.5.3 Record Locator Service (RLS)

      4. 5.5.4 Clinical Data Repository

      5. 5.5.5 Other Components

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Cerner Corporation

      2. 6.1.2 Allscripts Healthcare Solutions Inc.

      3. 6.1.3 Mckesson Corporation

      4. 6.1.4 Eclinical Works

      5. 6.1.5 Conifer Health Solutions

      6. 6.1.6 Nextgen Healthcare Information Systems LLC

      7. 6.1.7 Infor Inc.

      8. 6.1.8 Optum Inc.

      9. 6.1.9 Medicity Inc.

      10. 6.1.10 Epic Corporation Inc.

    2. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability
**Competitive Landscape Covers - Business Overview, Financials, Products and Strategies, and Recent Developments

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Frequently Asked Questions

The United States Healthcare Information Exchange Market market is studied from 2019 - 2027.

The United States Healthcare Information Exchange Market is growing at a CAGR of 9.2% over the next 5 years.

Mckesson Corporation, Eclinical Works, Epic Corporation Inc., Allscripts Healthcare Solutions Inc., Cerner Corporation are the major companies operating in United States Healthcare Information Exchange Market.

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