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The Global Healthcare EDI Industry Witnesses Continuous Innovations, New Product Launches, and Alliances/Partnerships
The global healthcare EDI market is facing continuous changes in the space of product offerings, with the U.S. being the most established market for EDI. Thus, the industry is focusing on transition to innovative product offerings to the EDI users in the market place. During 2011-2014, new product launches were the most widely used strategy by the top players, to maintain their positions in the market place by strengthening their portfolio and to distinguish themselves from their competitors. Some of the major players adopting this strategy are Allscripts (U.S.), GE Healthcare (U.K.), Optum Health (U.S.), and Capario Inc. (U.S.).
In this highly competitive market, top players have been competing intensely to maintain their leadership position. While mergers and acquisitions are being followed by a few players, majority of the top companies are focusing on collaborations, alliances, and partnerships. During 2011-2014, collaborations and partnerships were the second most preferred growth strategies, followed by other developments like product integrations, ventures, contracts, and product enhancements.
Emdeon Inc. (U.S.), Allscripts (U.S.), Optum Health (U.S.), Siemens Healthcare (Germany), GE Healthcare (U.K), McKesson (U.S.), and SSI Group (U.S.) are some of the leading companies in this industry. These companies have a strong product portfolio which includes a wide range of products for claim status, eligibility verification, enrolment/disenrollment transactions, and revenue cycle management. Most of these companies also focus on new product developments and new product launches, to be ahead of the competitors in offering innovative products in the market space. This not only helps them in having a cut throat competition with their rivals in this industry, but to retain their customers as well by offering innovative and improvised products from time to time.
The market also poses challenges to these companies to maintain their leading positions. New product innovations and alliances have helped the companies to maintain their market share. Though organic growth has been the main focus area of most of these companies, a few of these players have also been focusing on inorganic growth strategies such as acquisitions of similar healthcare IT players for maintaining and further strengthening their position in the market place.
Healthcare EDI Market by Component (EDI Software, EDI Services), Transactions (Claim Status, Eligibility Verification), Mode of Delivery (Web-based EDI, Mobile EDI, EDI Van) & by End-users (Healthcare Payers, Providers) - Global Forecast to 2018
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