Healthcare EDI Global Market Report 2024

Description

“Healthcare EDI Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on healthcare edi market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Where is the largest and fastest growing market for healthcare edi? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The healthcare edi market global report ” from The Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

Scope

Markets Covered:

1) By Component: Software; Hardware; Services
2) By Transaction: Claim Management; Healthcare Supply Chain; Other Transactions
3) By Mode of Delivery: Mobile; VAN; Web & Cloud-based; Point-to-point
4) By End User: Healthcare Provider; Payer; Pharmacies; Other End Users
Companies Mentioned: McKesson Corporation; Optum Inc.; Allscripts; GE Healthcare; Cognizant Technology Solutions India Pvt Ltd.
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery format: PDF, Word and Excel Data Dashboard.

Executive Summary

Electronic Data Interchange (EDI) serves as the software conduit facilitating data transactions among diverse healthcare stakeholders and insurers through computer systems. Utilizing the EDI service, organizers can efficiently process and monitor claims throughout the entire billing cycle. Healthcare EDI plays a pivotal role in managing critical patient data, encompassing medical history, medication information, and emergency services records.

Key transactions within healthcare EDI involve claim management, healthcare supply chain, and other related processes. Claim management entails the organization, billing, filing, updating, and processing of healthcare claims associated with patient diagnoses, medications, and treatments. This encompasses various components such as software, hardware, and services, delivered through modes like mobile, VAN, web & cloud-based, and point-to-point. These solutions are employed by healthcare providers, payers, pharmacies, and other end users in the industry.

The healthcare EDI market research report is one of a series of new reports from The Business Research Company 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 healthcare edi market size has grown rapidly in recent years. It will grow from $4.58 billion in 2023 to $5.07 billion in 2024 at a compound annual growth rate (CAGR) of 10.7%. During the historical period, the growth can be ascribed to factors such as adherence to regulatory compliance, improvements in administrative efficiency, cost reduction initiatives, and the minimization of errors in claims processing.

The healthcare edi market size is expected to see rapid growth in the next few years. It will grow to $7.84 billion in 2028 at a compound annual growth rate (CAGR) of 11.5%. In the forecast period, the anticipated growth is linked to the expansion of telehealth, the standardization of data, advancements in data privacy and security, increased inter-organizational data sharing, and heightened preparedness for pandemics. Key trends expected during this period encompass the establishment of interoperability standards, the automation of prior authorization processes, the utilization of blockchain for secure data exchange, the implementation of mobile EDI solutions, and the integration of artificial intelligence for enhanced scrutiny of claims.

Government backing for healthcare is anticipated to drive the expansion of the healthcare Electronic Data Interchange (EDI) market. This technology facilitates information exchange within different sections of super-specialty hospitals. The healthcare EDI software plays a crucial role in transmitting essential details such as coordination of benefits, claims status, insurance data, payment data, and eligibility forms among healthcare entities. Increased government support for the healthcare sector contributes to the development of new equipment and enhanced services, fostering technological advancements in government hospitals. For instance, the Indian Economic Survey reported an increase in India's public healthcare spending from 1.8% in 2020-21 to 2.1% in 2021-22, and the Union budget for 2022 allocated 11.28 billion for healthcare growth. This heightened government support propels the demand for the healthcare EDI market.

The healthcare EDI market is poised for growth with the expansion of telehealth services. Telehealth, encompassing various aspects of healthcare through computerized information and communications technology, facilitates remote health services delivery. Healthcare Electronic Data Interchange (EDI) plays a pivotal role in supporting telehealth by optimizing administrative and data exchange processes. This, in turn, enhances patient-provider communication and ensures secure and efficient sharing of crucial healthcare data, contributing to the effectiveness and affordability of telehealth services. Notably, the Australian Digital Health Agency reported a surge in telehealth therapy services, with 118.2 million services provided to 18 million individuals between March 2020 and July 2022. The increased adoption of telehealth services is a driving force for the healthcare EDI market.

Technological advancements emerge as a prominent trend in the healthcare EDI market. Key market players focus on innovation to maintain their market position. For example, in May 2022, NextGen Healthcare Inc., a US-based software company specializing in electronic health record software, introduced NextGen Health Data Hub Insights. This innovative data warehouse and analytics solution simplify data access, analytics, and report production for health information exchanges (HIEs) and healthcare providers in the United States. The platform, an extension of the NextGen Health Data Hub, enables users to unleash the value of their data assets by providing customized, near-real-time reporting capabilities and insights at the point of treatment. Technological advancements like these shape the landscape of the healthcare EDI market.

In July 2022, Technology Partners LLC, doing business as ImagineSoftware, a US-based software company, successfully acquired Exchange EDI LLC in a deal of undisclosed value. This strategic move has expanded ImagineSoftware's service portfolio, incorporating Exchange EDI's capabilities to enhance patient billing and collections operations. The amalgamation of their technologies and expertise positions both companies optimally to enhance communication between doctors and patients. Exchange EDI LLC, a US-based company specializing in the electronic interchange of business information using standardized formats, now operates under the ImagineSoftware umbrella.

In October 2022, Change Healthcare Inc., a US-based company operating in the healthcare electronic data interchange sector, announced the successful completion of a merger. This union brings together two companies with a shared objective of creating a simpler, more intelligent, and adaptable health system for individuals, payers, and providers. The integrated approach aims to streamline critical clinical, administrative, and financial procedures essential for healthcare professionals and payers in patient treatment. By enhancing efficiency and reducing friction, the unified entity anticipates benefiting the entire healthcare system, leading to cost savings and increased satisfaction for all stakeholders. Notably, Optum Inc., a US-based healthcare technology and EDI company, is a key player in this sector.

Major companies operating in the healthcare edi market include McKesson Corporation, Optum Inc., Allscripts, GE Healthcare, Cognizant Technology Solutions India Pvt Ltd., Cerner Corporation, Dell Technologies Inc., The SSI Group, Tallan Inc., Quadax Inc., AthenaHealth, Schreiner Group, MuleSoft LLC, Boomi Inc., Change Healthcare Inc., Conduent Inc., Epic Systems Corporation, Siemens Healthineers, NextGen Healthcare, Infor Inc., Edifecs Inc., Waystar Inc., Experian Information Solutions Inc., Availity LLC, eClinicalWorks, National Education Association, Ability Network, PracticeSuite Inc., Quest Diagnostics, Jopari Solutions Inc., Alpha II LLC, TransUnion Healthcare, Bizmatics Inc., Healthpac Computer Systems

North America was the largest region in the healthcare EDI market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the healthcare EDI market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the healthcare EDI market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The healthcare electronic data interchange (EDI) market includes revenues earned by Web & Cloud-based EDI, EDI Value Added Network, Direct EDI and Mobile EDI. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Product Code: r9655

1. Executive Summary

2. Healthcare EDI Market Characteristics

3. Healthcare EDI Market Trends And Strategies

4. Healthcare EDI Market - Macro Economic Scenario

4.1. Impact Of High Inflation On The Market
4.2. Ukraine-Russia War Impact On The Market
4.3. COVID-19 Impact On The Market

5. Global Healthcare EDI Market Size and Growth

5.1. Global Healthcare EDI Market Drivers and Restraints
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints Of The Market
5.2. Global Healthcare EDI Historic Market Size and Growth, 2018 - 2023, Value ($ Billion)
5.3. Global Healthcare EDI Forecast Market Size and Growth, 2023 - 2028, 2033F, Value ($ Billion)

6. Healthcare EDI Market Segmentation

6.1. Global Healthcare EDI Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Software
Hardware
Services
6.2. Global Healthcare EDI Market, Segmentation By Transaction, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Claim Management
Healthcare Supply Chain
Other Transactions
6.3. Global Healthcare EDI Market, Segmentation By Mode of Delivery, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Mobile
VAN
Web & Cloud-based
Point-to-point
6.4. Global Healthcare EDI Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Healthcare Provider
Payer
Pharmacies
Other End Users

7. Healthcare EDI Market Regional And Country Analysis

7.1. Global Healthcare EDI Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Healthcare EDI Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

8. Asia-Pacific Healthcare EDI Market

8.1. Asia-Pacific Healthcare EDI Market Overview
Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific Healthcare EDI Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.3. Asia-Pacific Healthcare EDI Market, Segmentation By Mode of Delivery, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.4. Asia-Pacific Healthcare EDI Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

9. China Healthcare EDI Market

9.1. China Healthcare EDI Market Overview
9.2. China Healthcare EDI Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.3. China Healthcare EDI Market, Segmentation By Mode of Delivery, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.4. China Healthcare EDI Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion

10. India Healthcare EDI Market

10.1. India Healthcare EDI Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.2. India Healthcare EDI Market, Segmentation By Mode of Delivery, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.3. India Healthcare EDI Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

11. Japan Healthcare EDI Market

11.1. Japan Healthcare EDI Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.2. Japan Healthcare EDI Market, Segmentation By Mode of Delivery, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.3. Japan Healthcare EDI Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

12. Australia Healthcare EDI Market

12.1. Australia Healthcare EDI Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.2. Australia Healthcare EDI Market, Segmentation By Mode of Delivery, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.3. Australia Healthcare EDI Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

13. Indonesia Healthcare EDI Market

13.1. Indonesia Healthcare EDI Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.2. Indonesia Healthcare EDI Market, Segmentation By Mode of Delivery, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.3. Indonesia Healthcare EDI Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

14. South Korea Healthcare EDI Market

14.1. South Korea Healthcare EDI Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.2. South Korea Healthcare EDI Market, Segmentation By Mode of Delivery, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.3. South Korea Healthcare EDI Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

15. Western Europe Healthcare EDI Market

15.1. Western Europe Healthcare EDI Market Overview
15.2. Western Europe Healthcare EDI Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.3. Western Europe Healthcare EDI Market, Segmentation By Mode of Delivery, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.4. Western Europe Healthcare EDI Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

16. UK Healthcare EDI Market

16.1. UK Healthcare EDI Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.2. UK Healthcare EDI Market, Segmentation By Mode of Delivery, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.3. UK Healthcare EDI Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

17. Germany Healthcare EDI Market

17.1. Germany Healthcare EDI Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.2. Germany Healthcare EDI Market, Segmentation By Mode of Delivery, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.3. Germany Healthcare EDI Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

18. France Healthcare EDI Market

18.5. France Healthcare EDI Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.6. France Healthcare EDI Market, Segmentation By Mode of Delivery, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.7. France Healthcare EDI Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

19. Italy Healthcare EDI Market

19.9. Italy Healthcare EDI Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.10. Italy Healthcare EDI Market, Segmentation By Mode of Delivery, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.11. Italy Healthcare EDI Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

20. Spain Healthcare EDI Market

20.13. Spain Healthcare EDI Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.14. Spain Healthcare EDI Market, Segmentation By Mode of Delivery, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.15. Spain Healthcare EDI Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

21. Eastern Europe Healthcare EDI Market

21.1. Eastern Europe Healthcare EDI Market Overview
21.2. Eastern Europe Healthcare EDI Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.3. Eastern Europe Healthcare EDI Market, Segmentation By Mode of Delivery, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.4. Eastern Europe Healthcare EDI Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

22. Russia Healthcare EDI Market

22.1. Russia Healthcare EDI Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.2. Russia Healthcare EDI Market, Segmentation By Mode of Delivery, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.3. Russia Healthcare EDI Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

23. North America Healthcare EDI Market

23.1. North America Healthcare EDI Market Overview
23.2. North America Healthcare EDI Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.3. North America Healthcare EDI Market, Segmentation By Mode of Delivery, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.4. North America Healthcare EDI Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

24. USA Healthcare EDI Market

24.1. USA Healthcare EDI Market Overview
24.2. USA Healthcare EDI Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.3. USA Healthcare EDI Market, Segmentation By Mode of Delivery, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.4. USA Healthcare EDI Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

25. Canada Healthcare EDI Market

25.1. Canada Healthcare EDI Market Overview
25.2. Canada Healthcare EDI Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.3. Canada Healthcare EDI Market, Segmentation By Mode of Delivery, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.4. Canada Healthcare EDI Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

26. South America Healthcare EDI Market

26.1. South America Healthcare EDI Market Overview
26.2. South America Healthcare EDI Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.3. South America Healthcare EDI Market, Segmentation By Mode of Delivery, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.4. South America Healthcare EDI Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

27. Brazil Healthcare EDI Market

27.1. Brazil Healthcare EDI Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.2. Brazil Healthcare EDI Market, Segmentation By Mode of Delivery, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.3. Brazil Healthcare EDI Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

28. Middle East Healthcare EDI Market

28.1. Middle East Healthcare EDI Market Overview
28.2. Middle East Healthcare EDI Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.3. Middle East Healthcare EDI Market, Segmentation By Mode of Delivery, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.4. Middle East Healthcare EDI Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

29. Africa Healthcare EDI Market

29.1. Africa Healthcare EDI Market Overview
29.2. Africa Healthcare EDI Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.3. Africa Healthcare EDI Market, Segmentation By Mode of Delivery, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.4. Africa Healthcare EDI Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

30. Healthcare EDI Market Competitive Landscape And Company Profiles

30.1. Healthcare EDI Market Competitive Landscape
30.2. Healthcare EDI Market Company Profiles
- 30.2.1. McKesson Corporation
  - 30.2.1.1. Overview
  - 30.2.1.2. Products and Services
  - 30.2.1.3. Strategy
  - 30.2.1.4. Financial Performance
- 30.2.2. Optum Inc.
  - 30.2.2.1. Overview
  - 30.2.2.2. Products and Services
  - 30.2.2.3. Strategy
  - 30.2.2.4. Financial Performance
- 30.2.3. Allscripts
  - 30.2.3.1. Overview
  - 30.2.3.2. Products and Services
  - 30.2.3.3. Strategy
  - 30.2.3.4. Financial Performance
- 30.2.4. GE Healthcare
  - 30.2.4.1. Overview
  - 30.2.4.2. Products and Services
  - 30.2.4.3. Strategy
  - 30.2.4.4. Financial Performance
- 30.2.5. Cognizant Technology Solutions India Pvt Ltd.
  - 30.2.5.1. Overview
  - 30.2.5.2. Products and Services
  - 30.2.5.3. Strategy
  - 30.2.5.4. Financial Performance

31. Global Healthcare EDI Market Competitive Benchmarking

32. Global Healthcare EDI Market Competitive Dashboard

33. Key Mergers And Acquisitions In The Healthcare EDI Market

34. Healthcare EDI Market Future Outlook and Potential Analysis

34.1 Healthcare EDI Market In 2028 - Countries Offering Most New Opportunities
34.2 Healthcare EDI Market In 2028 - Segments Offering Most New Opportunities
34.3 Healthcare EDI Market In 2028 - Growth Strategies
34.3.1 Market Trend Based Strategies
34.3.2 Competitor Strategies

35. Appendix

35.1. Abbreviations
35.2. Currencies
35.3. Historic And Forecast Inflation Rates
35.4. Research Inquiries
35.5. The Business Research Company
35.6. Copyright And Disclaimer