The ResearchAndMarkets.com platform has recently added the "Healthcare Electronic Data Interchange Market Size, Share & Trends Analysis Report," covering components such as services and solutions, delivery modes, end-use segments (Healthcare Payers, Healthcare Providers), and regional analyses. The global market for healthcare electronic data interchange (EDI) is projected to achieve a size of USD 9.18 billion by 2030, with an expected Compound Annual Growth Rate (CAGR) of 9.6% from 2023 to 2030.
The market's growth is attributed to several key factors, including the proactive initiatives undertaken by major companies, governmental backing for healthcare Information Technology (IT), a rising number of end-users, and the increasing adoption of EDI. Notably, EDI solutions from OSP are recognized for their capacity to reduce administrative costs, standardize the exchange of patient data, enhance security measures, and improve overall accuracy, among other benefits.
The passage of the ObamaCare Act (the Affordable Care Act) in 2010 in the U.S. mandated enrolled/dis-enrolled transactions between payers and providers. Additionally, favorable policies such as the Health Insurance Portability & Accountability Act (HIPAA), which offers data privacy and security provisions to safeguard medical information, are expected to drive market growth. Increased government funding for EDI-Special Project congressional grants, particularly benefiting hospitals and non-profit organizations, is anticipated to further stimulate market expansion.
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