Healthcare Electronic Data Interchange Market Projected to Surpass USD 9.18 Billion By 2030

Dublin, Dec. 08, 2023 (GLOBE NEWSWIRE) — The “Healthcare Electronic Data Interchange Market Size, Share & Trends Analysis Report By Component (Services, Solutions), By Delivery Mode, By End-use (Healthcare Payers, Healthcare Providers), By Region, And Segment Forecasts, 2023 – 2030” report has been added to ResearchAndMarkets.com’s offering.

The global healthcare electronic data interchange market size is anticipated to reach USD 9.18 billion by 2030. The market is expected to expand at a lucrative CAGR of 9.6% from 2023 to 2030. The key factors driving the market growth include increasing initiatives by key companies, government support for healthcare IT coupled with a surge in the number of end-users, and increasing adoption of EDI. Healthcare EDI solutions from OSP help reduce administrative expenses, standardize the exchange of patient data, enhance security, and improve accuracy, among other benefits.

In 2010, the ObamaCare Act (the Affordable Care Act) was passed in the U.S., which mandated the use of enrolled/dis-enrolled transactions between the payers and providers in the U.S. Implementation of favorable policy such as the Health Insurance Portability & Accountability Act (HIPAA) to provide data privacy and security provisions to protect medical information is anticipated to propel the market growth. Increasing government funding for the EDI-Special Project congressional grants is befitting hospitals and non-profit organizations, thereby expected to foster market growth.

A surge in the number of end-users such as payers, providers, pharmaceutical & medical device industries, and others is anticipated to fuel the demand for EDI services or solutions during the market period. The healthcare payers use EDI for the evaluation of insurance claims before their payment settlement, prevention & detection of fraudulent claims to provide rapid services through collaborating with providers in order to gain a competitive advantage. As EDI facilitates secure communication for transmitting information between major healthcare stakeholders- payers, providers, and patients using established standards and message formats, it is estimated to grow notably in the coming years.

Healthcare Electronic Data Interchange Market Report Highlights

• The Healthcare Electronic Data Interchange market was valued at USD 4.41 billion in 2022 and is expected to grow at a CAGR of 9.6% during the forecast period.
• The services segment dominated the market with the largest revenue share in 2022 owing to the rising rate of outsourcing electronic data interchange services by healthcare organizations and increasing demand for scalability and integrity of EDI solutions.
• The mobile EDI segment is expected to grow at the fastest CAGR of 10.4% over the forecast period owing to technological advancements in the healthcare industry and the increasing acceptance of mobile solutions among healthcare providers.
• North America dominated the market with the largest revenue share of 44.5% in 2022 owing to the higher adoption of Healthcare Information Technology (HCIT), and the presence of major market players such as McKesson Corporation, Optum, Inc.; The SSI Group, LLC; etc.

Key Attributes:

Companies Mentioned

• OSP
• MCKESSON CORPORATION
• NXGN Management, LLC
• Optum, Inc.
• SSI Group LLC
• Cleo
• Oracle
• Epicor Software Corporation
• Effective Data
• DataTrans Solutions

For more information about this report visit https://www.researchandmarkets.com/r/jt5cg1

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• Global Healthcare Electronic Data Interchange Market