McKesson Corporation (U.S.), GE Healthcare (U.S.), and Allscripts Healthcare Solutions Inc. (U.S.) are the Leading Players in the Healthcare EDI Market
The global healthcare EDI market is projected to reach USD 2.45 billion by 2022 from USD 1.65 billion in 2017, at a CAGR of 8.1%. Factors such as the development of regulations for transaction processes, the rising need to curtail healthcare costs, and government support for HCIT implementation are driving the growth of the healthcare EDI market.
The global healthcare EDI market is fragmented in nature with the presence of many local, regional, and global players. McKesson Corporation (U.S.), GE Healthcare (U.S.), and Allscripts Healthcare Solutions Inc. (U.S.) were the major players in this market. The companies are mainly focusing on product launches, collaborations, partnerships, and agreements to strengthen their market presence.
McKesson Corporation (U.S.) dominated the global healthcare EDI market in 2016. The company has a strong presence in the market with a comprehensive range of products. It offers a wide portfolio of EDI solutions mainly through its subsidiary—Change Healthcare, of which it holds 70% of shares. The company has a strong presence in the U.S., followed by Canada, Germany, the U.K., and Ireland. McKesson Corporation focuses on inorganic growth strategies such as partnerships and agreements to strengthen its product portfolio as well as its market position. For instance, the agreement with Change Healthcare in March 2017, has positioned the company as a leading player in the healthcare EDI market. Moreover, this partnership will combine CHCs healthcare EDI services with McKesson’s technology solutions to deliver wide-ranging financial, operational, and clinical benefits to payers, providers, and consumers.
Allscripts Healthcare Solutions, Inc. (U.S.) also held one of the top positions in the global healthcare EDI market in 2016. The company’s stronghold in this market is primarily attributed to its continuous focus on innovation and product development to strengthen their customer base across the globe. The company offers a wide range of products in the healthcare EDI market through its PayerPath brand. The company is highly focused on product enhancement and partnerships for its market growth and strong geographical presence. For instance, in December 2015, Allscripts announced self-pay capability as part of its patient engagement strategy through its Allscripts Payerpath family of solutions. This provided a simplified online payment option from the same access point where patients engage with their healthcare information and care providers.
Related Reports:
Healthcare EDI Market by Component (Solution, Service), Delivery Mode (Web & Cloud, Mobile) Transaction Type (Claims Management, Remittance, Payments, Healthcare Supply Chain), End User (Healthcare Provider, Payer, Pharmacies) - Global Forecast to 2022
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