Dublin, July 28, 2023 (GLOBE NEWSWIRE) -- The "United States Healthcare Information Exchange Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)" report has been added to ResearchAndMarkets.com's offering.
The United States healthcare information exchange market is set to achieve a Compound Annual Growth Rate (CAGR) of 9.2% during the forecast period.
The market was significantly impacted by the COVID-19 outbreak, with a surge in demand for electronic medical records and health information systems to track the rising number of Covid-affected patients and diagnostics. Market players responded to the urgent need by developing and introducing advanced healthcare information exchange systems, fueling market growth.
Notably, the introduction of various innovative systems for COVID-19 data management contributed notably to the market's expansion. With the emergence of various mutant strains of the SARS-CoV-2 virus, the demand for healthcare information exchange is expected to remain intact, further boosting market growth in the coming years.
Main Factors Driving Market Growth:
- Increasing Investment in Healthcare Technology Advancements: The healthcare sector's growing investment in technology advancements has paved the way for sophisticated healthcare information exchange systems. Organizations are keen on adopting digital solutions to streamline processes and enhance patient care, driving market growth.
- Government Support via Programs and Incentives: Government support through various programs and incentives has encouraged the adoption of healthcare information exchange systems. Significant investments have been directed towards modernizing public health infrastructure and ensuring readiness for ongoing and emerging public health emergencies, further boosting the market.
- Reduction in Healthcare Costs and Improved Efficacy: Healthcare information exchange systems offer improved efficiency in data sharing, resulting in reduced healthcare costs. By facilitating streamlined communication between payers and healthcare providers, these systems contribute to enhanced patient care and cost savings.
United States Healthcare Information Exchange Market Trends:
Decentralized/Federated Model Holds Notable Market Share
The decentralized/federated model is anticipated to dominate the market during the forecast period. In this model, each healthcare provider maintains patient records, and the healthcare information exchange facilitates data exchange between providers when needed. The model's compartmentalization of data minimizes the risk of theft and results in lower implementation costs, driving its high adoption rate.
Growing Adoption of Workflow Management Systems
Workflow management systems are gaining traction in the healthcare sector due to their ability to streamline daily tasks and processes, reduce human errors, and optimize revenue generation. Real-time tracking, integrated processes, and energy efficiency are some of the advantages driving the adoption of workflow management systems in the United States healthcare information exchange market.
United States Healthcare Information Exchange Industry Overview:
The United States healthcare information exchange market is competitive, with major players investing in advanced systems and collaborations to expand their market presence. Notably, companies like Cerner Corporation, Allscripts Healthcare Solutions, Mckesson Corporation, Eclinical Works, and Epic Corporation Inc. hold substantial market shares.
With the market witnessing significant growth opportunities, market players are actively developing and introducing innovative healthcare information exchange systems to cater to the evolving demands of the healthcare sector.
As the United States continues to prioritize healthcare technology advancements and government support remains robust, the healthcare information exchange market is poised for continued growth in the coming years.
A selection of companies mentioned in this report includes
- Cerner Corporation
- Allscripts Healthcare Solutions Inc.
- Mckesson Corporation
- Eclinical Works
- Conifer Health Solutions
- Nextgen Healthcare Information Systems LLC
- Infor Inc.
- Optum Inc.
- Medicity Inc.
- Epic Corporation Inc.
- mpro5
- Newgen Software Technologies
For more information about this report visit https://www.researchandmarkets.com/r/3bhkzz
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