Health Information Exchange Market - A comprehensive assessment of current dynamics and emerging avenues

Health Information Exchange Market is projected to grow up to 11.7% CAGR during the forecasting period 2021-2027. Electronic health information exchange (HIE) allows doctors, nurses, pharmacists, other health care practitioners, and patients to access and securely share a patient's vital medical information, improving the pace, quality, security, and cost of patient care. Medical records are shared between providers via mail, fax, or, more generally, by patients who carry their records from appointment to appointment.

While electronic health information exchange will not fully remove provider-patient interaction, it will greatly improve the completeness of patient records (which will have a direct effect on care) by enabling clinicians and patients to review past history, current medications, and other information together during visits. Health information sharing facilitates access to clinical data in order to provide secure, more timely, efficient, and equitable patient-centered care, which can also be beneficial to public health agencies by assisting in population health assessments. The goal of health information sharing is to make it easier to access and retrieve clinical data so that patients can receive reliable, secure, accurate, timely, and patient-centered treatment.

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Key Driving Factors: Government funding for the implementation of EMR solutions is one of the main drivers.

EHRs are a critical component of healthcare IT because they allow for the easy sharing of healthcare data and coordination among all hospital stakeholders. EMR adoption also contributes to improved health outcomes in terms of healthcare access, efficiency, affordability, and disease burden reduction. Because of the advantages of using EMR, governments in a number of countries are launching programmes to encourage the adoption of EMR solutions. The US government, for example, offers numerous benefits to healthcare providers who introduce EMR solutions in hospitals. President Barack Obama spent USD 19.2 billion in the healthcare sector in February 2009. This encouraged Medicare and Medicaid to help healthcare providers and promote the adoption and deployment of EMR solutions that are "Meaningful Use."

This report offers the major market player’s profiles, such as Allscripts Healthcare Solutions, Inc. (U.S.), Relayhealth Corporation (U.S.), Infor, Inc. (U.S.), Cerner Corporation (U.S.), and eClinicalWorks (U.S.) among others.

Opportunities: Concerns over data protection

Health information sharing solutions can be used in a variety of ways in the medical field. However, data protection and privacy issues limit the implementation of these solutions to some degree. In several nations, federal regulations protect patient health records, and any violations or failure to preserve its integrity will result in legal and financial penalties. Patient data contains personal, private, or confidential information that must be shielded from unauthorised access. Since interoperable solutions for patient care include access to various health data sets, compliance with all data protection protocols adopted by governments and regulatory agencies is critical. This is a challenging task because most interoperability systems are consolidated and require a lot of processing resources, so patient data, or portions of it, which need to be stored in a vendor's data centre.

The Health Information Exchange Market report has been categorized as below

By Setup Type:
Private Health Information Exchange,
Public Health Information Exchange

By Type:
Direct Exchange,
Query Based Exchange,
Consumer- Mediated Exchange

By Implementation Model:
Hybrid Models,
Centralized/ Consolidated Models,
Decentralized/Federated Model

By Application:
Web portal development,
Workflow Management,
Secure Messaging,
Internal Interfacing, Others

By Solution:
Portal- Centric,
Messaging – Centric,
Platform- Centric,
Others

By End Use:
Healthcare Providers,
Healthcare Payers,
Pharmacies, Others

By Region
North America
Europe
Asia Pacific
Rest of World

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