Healthcare electronic data interchange (EDI) ensures accuracy and data quality within the healthcare sector. The risk of errors linked to manual data entry is significantly reduced through automated data exchange, promoting precision in healthcare information. EDI systems incorporate robust validation checks that enforce adherence to predefined standards and formats. This minimizes the chances of inaccuracies and enhances the reliability of exchanged information. The error reduction achieved through automation is vital for maintaining the integrity of patient records, billing data, and other critical healthcare information.
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Data Bridge Market Research analyses the U.S. Healthcare Electronic Data Interchange (EDI) Market, which is USD 1,385.088 million in 2022 and is expected to reach USD 2,904.89 million by 2030, at a CAGR of 9.7% during the forecast period 2023 to 2030. Interoperability and integration drive the U.S. healthcare EDI market as the industry seeks standardized data exchange methods. EDI enables seamless integration among diverse healthcare systems, promoting efficient information exchange between stakeholders such as healthcare providers, payers, and other entities
Key Findings of the Study
Growing volume of healthcare transactions is expected to drive the market's growth rate
The surge in healthcare transactions, encompassing critical processes such as claims, remittance advice, and eligibility verification, is propelling the demand for streamlined and automated solutions within the U.S. healthcare electronic data interchange (EDI) market. As transaction volumes grow, EDI emerges as a standardized and efficient mechanism, offering a structured approach to handle these increased workloads. By automating processes through EDI, healthcare organizations can achieve heightened efficiency, reduce processing times, and ensure accuracy in transactional data, thus addressing the industry's escalating need for seamless and scalable transaction management.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015-2020)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Components (Services and Solutions), Transaction Type (Claim Management, Healthcare Supply Chain Management), Delivery Mode (Web and Cloud Based EDI, EDI VAN, Point to Point EDI, Mobile EDI), Application (Practice Management, Patient Management, E-prescription, Population Health Management, Referral Management, Others), End-User (Hospitals, Healthcare Payers, Pharmacies and Laboratories, Clinics, Ambulatory Surgery Centers, Medical Devices and Pharmaceuticals, Others), Distribution Channel (Direct Tender and Third Party Distribution)
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Market Players Covered
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MCKESSON CORPORATION (U.S.), Optum, Inc. (U.S.), athenahealth, Inc. (U.S.), Allscripts Healthcare, LLC (U.S.), NXGN Management, LLC (U.S.), Experian Information Solutions, Inc. (Ireland), Cerner Corporation (U.S.), SYNNEX Corporation (U.S.), Cognizant (U.S.), Boomi, LP (U.S.), Waystar (U.S.), Comarch SA (Poland), Axway (France), PLEXIS Healthcare Systems Inc. (U.S.), Software AG (Germany), TrueCommerce B2BGateway (U.S.), HEALTHASYST (India), Quadax, Inc. (U.S.), General Electric (U.S.)
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Data Points Covered in the Report
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
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Segment Analysis:
The U.S. healthcare electronic data interchange (EDI) market is segmented on the basis of components, transaction type, delivery mode, application, end-user, and distribution channel.
- On the basis of components, the U.S. healthcare electronic data interchange (EDI) market is segmented into services and solutions
- On the basis of transaction type, the U.S. healthcare electronic data interchange (EDI) market is segmented into claim management, and healthcare supply chain management
- On the basis of delivery mode, the U.S. healthcare electronic data interchange (EDI) market is segmented into web and cloud based EDI, EDI VAN, point to point EDI, and mobile EDI
- On the basis of application, the U.S. healthcare electronic data interchange (EDI) market is segmented into practice management, patient management, e-prescription, population health management, referral management, and others
- On the basis of end-user, the U.S. healthcare electronic data interchange (EDI) market is segmented into hospitals, healthcare payers, pharmacies and laboratories, clinics, ambulatory surgery centers, medical devices and pharmaceuticals, and others
- On the basis of distribution channel, the U.S. healthcare electronic data interchange (EDI) market is segmented into direct tender and third party distribution
Major Players
Data Bridge Market Research recognizes the following companies as the major U.S. healthcare electronic data interchange (EDI) market players in U.S. healthcare electronic data interchange (EDI) market are MCKESSON CORPORATION (U.S.), Optum, Inc. (U.S.), athenahealth, Inc. (U.S.), Allscripts Healthcare, LLC (U.S.), NXGN Management, LLC (U.S.), Experian Information Solutions, Inc. (Ireland)
Market Developments
- In November 2023, qBotica Inc. made a significant announcement regarding its strategic investment in Healthomation Inc., a notable player in the healthcare automation sector. This strategic move aims to enhance qBotica Inc.'s capabilities and extend its presence within the healthcare industry. The collaboration is set to focus on developing advanced automation solutions that integrate Robotic Process Automation (RPA) and Electronic Data Interchange (EDI). The envisioned solutions aim to revolutionize healthcare processes, from administrative tasks to patient care. The emphasis will be on driving efficiency, accuracy, seamless integrations, and consistency in various facets of healthcare operations
- In September 2023, Ontrak Health, a leading healthcare firm powered by artificial intelligence and telehealth capabilities, announced a significant milestone with successfully deploying the Axiom Systems TransSend Core EDI Gateway. This cutting-edge solution is designed to streamline the management of electronic data interchange (EDI) exchanges with trading partners. It ensures compliance with federal regulations, industry requirements, and best practices. The implementation of the Axiom Systems TransSend Core EDI Gateway underscores Ontrak Health's commitment to efficient and regulatory-compliant EDI processes in the healthcare sector
- In May 2022, NextGen Healthcare, Inc. showcased its commitment to innovation in healthcare IT solutions. The company launched the NextGen Health Data Hub Insights, a state-of-the-art data warehouse with a customizable analytics solution. Positioned as a modern and expandable platform, this offering empowered healthcare providers with advanced tools to harness the potential of their data. By introducing a cloud-based approach, NextGen Healthcare aimed to facilitate seamless data management and analysis, catering to the evolving needs of the healthcare industry. This announcement highlighted NextGen Healthcare's dedication to providing scalable and forward-looking solutions in the dynamic landscape of healthcare technology
- In October 2021, Cerner made a significant stride in the healthcare technology landscape launched the Cerner RevElateTM. This cutting-edge patient accounting tool marked the next generation of solutions within the Cerner revenue cycle management portfolio. With a host of new and expanded features, Cerner RevElateTM aimed to enhance and streamline the financial aspects of patient care, contributing to a more robust and efficient healthcare ecosystem. This announcement underscored Cerner's commitment to advancing revenue cycle management practices and leveraging technology to optimize patient accounting processes
- In April 2021, National Dentex Labs ("NDX") announced a pivotal development in the dental industry through its acquisition of Dental Services Group ("DSG"). This strategic move resulted in a united entity operating under the National Dentex Labs brand. Tom Daulton, the CEO of NDX, assumed the role of Chief Executive Officer for the combined company. The acquisition expanded the company's portfolio, offering comprehensive restorative dentistry options and solutions. With a growing network of dental laboratories across North America, the combined entity aimed to provide enhanced services and support to dentists throughout the region, solidifying its position as a key player in the dental healthcare landscape
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