Increasing Demand for Cutting Down Medical Costs to Drive Adoption of Healthcare Electronic Data Interchange Market

Industry Insights

The concept of electronic data interchange involves use of electronic business communication. The healthcare electronic data interchange helps in enabling the interchange of the healthcare information that can be processed through a computer. After processing, the data is presented in a user-friendly manner for the better understanding and knowledge of patients, medical professionals, as well as healthcare institutions. There are several benefits of using healthcare electronic data interchange such as quicker processing, improved productivity, saving of costs, and overall standardization. For example, healthcare service providers are able to send claims status requests and get information with the help of a pre-set transaction defined for a compliant and organized exchange of information.

Wide Range of Application Segments to Help Popularize Market Adoption

Unlike normal electronic data interchange, healthcare electronic data interchange transactions do not involve exchange of emails. There are several applications of healthcare EDI systems of which some of the prominent ones are database management for medical and dental patients. In addition to this, the healthcare EDI system can also keep track of reimbursement data management, insurance, regulatory data management, and others. There are several different modes of transaction in the global healthcare electronic data interchange such as EID via AS2, mobile EDI, van EDI, web-based EDI, and point to point EDI among others. There are several prominent end users such as healthcare companies, healthcare service providers, pharmaceutical industries, medical device industries, and pharmacies among others.

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One of the several factors that are helping to drive the overall development of the global healthcare electronic data interchange market is the increasing demand for curbing down the costs incurred in healthcare segment. In addition to this, increasing need for regularization of electronic transaction is also a key driving factor for the market development.

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.

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