Kenneth Research recently added a report on ‘Healthcare EDI Market’ in its database of market research reports which provides its readers an in-depth analysis on the latest trends, growth opportunities and growth drivers that are associated with the growth of the market. The report additionally shares critical insights on the COVID-19 impacts on the Healthcare EDI Market, along with the compound growth rate (CAGR) of the market for a projected period between 2021 2025. The report also includes analysis of the market by utilizing different analytical tools, such as PESTEL analysis and Porter’s five forces analysis. These tools also provide an in-depth analysis on the micro and macro-environmental factors that are associated with the growth of the market during the forecast period.
Healthcare EDI Market is valued at USD 2.54 billion in 2017 and is projected to reach USD 4.67 billion by 2025, growing at a CAGR of 7.9% from 2017 to 2025.
Healthcare EDI is Used to submit health care claim billing information, encounter information, or both, except for retail pharmacy claims (see EDI Retail Pharmacy Claim Transaction). It can be sent from providers of health care services to payers, either directly or via intermediary billers and claims clearinghouses.It is preferred over Traditional Methods because of reduced cost and less manual errors, also less time consumption.
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1. Market Drivers
1.1 Rules and regulations for payment and transcations
1.2 Government encourages HCIT
1.3 Cost reduction benefits
2. Market Restraints
2.1 High implementation cost
2.2 Data breach risks regarding patient information
Healthcare EDI Market is segmented on the basis of:
1. Healthcare EDI Market, by type:
1.1 Claims management
1.1.1 Claim submission
1.1.2 Claim status
1.1.3 Claim payment
1.1.4 Other EDI transactions
1.1.5 Payment Remittance
1.1.6 Eligibility verification
1.1.7 Referral certification and authorization
1.1.8 Integrated Software
1.2 Healthcare Supply chain
2. Healthcare EDI Market, by Mode of Delivery:
2.1 Web based
2.2 Cloud based
2.3 On premise
2.4 EDI van
2.5 Point to Point EDI
2.6 Mobile EDI
3. Healthcare EDI Market, by component:
4. Healthcare EDI Market, end user:
4.3 Pharmaceutical industries
4.5other healthcare providers
5. Healthcare EDI Market, by Region:
5.1 North America (U.S., Canada, Mexico)
5.2 Europe (Germany, UK, France, Rest of Europe)
5.3 Asia Pacific (China, Japan, India, Rest of Asia Pacific)
5.4 Latin America (Brazil, Argentina, Rest of Latin America)
5.5Rest of the World
The major players in the market are as follows:
1. GE Healthcare
2. Mckesson Corporation
3. Optum, Inc. (A Subsidiary of Unitedhealth Group Inc.)
4. Experian PLC
5. Cerner Corporation
6. Allscripts Healthcare Solutions, Inc.
7. Cognizant Technology Solutions Corporation
8. Quality Systems Inc.
9. Synnex Corporation
10. Dell Technologies Inc.
11. SSI Group LLC
12. Zirmed Inc.
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
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RESEARCH METHODOLOGY OF VERIFIED MARKET INTELLIGENCE:
Research study on the Healthcare EDI Market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
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