According to the IHS report, global medical electronic data interchange (EDI) revenues are expected to exceed $240 million from $180 million in 2014 to 2019. This statistic is based on the IHS "Medical Electronic Data Interchange Report" and is expected to have a CAGR of 6% in the global medical electronic data exchange market. Between 2014 and 2019, more and more medical institutions will seek better data exchange efficiency among suppliers, consumers and taxpayers.

Medical electronic data exchange solutions include software and services, management, maintenance and optimization of data transfer between secondary computing systems. IHS's research on medical electronic data exchange is divided into four applications for medical electronic data exchange, including traditional electronic data exchange (eg claims, submissions, terms of reference, etc.), patient payments, analysis and other optimization services.

Medical electronic data exchange market analysis

Global medical data exchange revenue statistics from 2014 to 2019 (in millions of US dollars)

Electronic data interchange solutions streamline the revenue cycle process, resulting in fewer rejection and rework requirements, as well as faster insurance compensation. To further increase efficiency, it is expected that more and more health data will be transferred to the cloud, allowing suppliers and taxpayers to instantly query the same health data.

Andrew Rebhan, an IHS medical care communications (IT) analyst, said that although electronic data exchange is slower than other industries, electronic data exchange has become an increasingly important role in the healthcare industry, with high performance and systems. And accessibility to help manage the exchange of various data. The flow of data forms for medical institutions and health systems has shifted from paper to electronic form and is in line with electronic data exchange standards, but as care models evolve, there is still the problem of transmitting timely and correct data to the right users. .

According to the IHS report, patient payments and analytics bring the strongest growth to medical electronic data interchange applications, especially in the United States. Rebhan noted that patients are now expected to assume greater responsibility for payments, including co-payments, co-insurance and deductibles, which are due to patient responsibility – achieving growth in high-deductible health programs. So suppliers need to be prepared to move from patients to more transactions to increase the source of revenue.

According to the research report, the traditional electronic data exchange application market has become saturated, and almost all manufacturers provide some form of traditional electronic data exchange function in the market. Until 2019, the proportion of traditional electronic data exchange to total US revenue is expected to decline, mainly due to strong growth in patient payment and analysis components.

In addition, the legal norms will also seriously affect the medical electronic data exchange market. With the importance of medical electronic data exchange, the International Statistical Classification of Diseases and Related Health Problems has been revised to the 10th edition (ICD-10), which is for suppliers, payers, and messages. Communication centers and medical IT providers are the main tasks because they must comply with their specifications. “Medical care providers have also encountered some difficulties: regulatory oversight has given them a large sum of money for the entire claim cycle, and in fact, some of the practices of many vendors have made them not ready to switch to ICD-10 this year. Said Rebhan.

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