Global Health
information exchange (HIE) Market strategic
research study offers company accounts, industry investors, and industry
members with consequential insights to enable them to make reliable strategic
decisions regarding the opportunities in the global market.
In this report, we
thoroughly examine and analyse the Global market for Health information
exchange (HIE) so that market participants can improve their business strategy
and ensure long-term success. This report provides players with useful
information and suggests result-based ideas to give them a competitive
advantage in the global Health information exchange (HIE) industry. It will show
how other players compete in the global Health information exchange (HIE) Market
and explain the strategies you use to differentiate yourself from other
participants.
This Research Report
Answers the Following Questions:
·
How Health
information exchange (HIE) market will grow in the coming year?
·
Will the COVID-19 pandemic surge the demand for such platforms?
·
How are key companies planning to promote benefits of Health information exchange (HIE)?
·
What are the industry growth drivers, obstacles, and dynamics?
·
Which segment is expected to lead in the coming years?
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Global health information
exchange (HIE) market is expected to witness lucrative growth over the forecast
period. Need for greater access to patient health information, enhanced
stakeholder’s collaboration and rising awareness of HIE technology are the key
drivers leading to the market growth. Furthermore, increasing incentives by the
federal government, growing investments, increasing geriatric population and
raising demand for reduction in healthcare cost are the factors anticipating
the demand for health information exchange.
HIE refers to the
electronic mobilization of healthcare information within defined geographical
area to bring stakeholders together. The stakeholders include doctors, patient,
pharmacists, nurses and labs. HIE enables speedy access and sharing of
patient’s clinical data to the healthcare providers for providing effective, timely
and efficient delivery of care to the patient. Sharing of patient information
on time helps in effective decision making, avoids readmission and medication
errors, improves diagnostic rate and, decreases duplicate testing. The
technology provides high standard of patient care coupled with reduction in
expenses associated with physical mailing of patient records, manual printing
of document and, efforts involved in recovering patients’ reports.
On the basis of set up
type, HIE market is segmented into implementation model and vendors model and,
also in public and private HIE. Implementation is further classified into
hybrid model, centralized model and decentralized model. Among these
implementation models, hybrid model is projected to be the potential market
segment as it is a combination of both decentralized and centralized model.
Hence, it consists of advantages of both the models.
In set up type, private HIE
is expected to dominate the market owing to the benefits associated with it
such as deep commitment to a shared vision among shareholders. Shared vision
include reduction in cost associated with unnecessary duplicate tests. Other
benefits are steady flow of funds for development obtained from stakeholders in
the private sector and physician engagement at every level of the HIE. Private
HIE are growing at a rapid pace in comparison to public HIE.
The vendors’ type is
further segmented into messaging centric, platform centric, portal centric,
clinical data management and personal health records. Portal centric segment is
considered to hold the largest market share of health information exchange and
is anticipated to witness robust growth over the coming six years due to the
increasing use of electronic health records in the developed countries.
Based on pattern of data
exchange, the market is segregated into consumer mediated exchange for patient
control, directed exchange for coordinate care and query based exchange for
unplanned care. By application, it is used in the fields such as web portal development,
secure messaging, workflow management, interfacing internal application and,
patient safety. Among these application, HIE is majorly used in web portal
development owing to the increasing number of documents choosing for electronic
medical records driven by the accessibility of portals to retrieve information
on patients. The end users of the market include public health agency, ED
provider, medical research, care manager, primary care provider and
specialists.
Geographically, the global
health information exchange market is categorized into North America, Europe,
Asia Pacific, Latin America and MEA. North America is estimated to hold the
largest market share owing to presence of established companies, high adoption
rate of technology and well established healthcare facilities.
Asia-Pacific is expected to
grow at a significant rate owing to increasing demand for patient care, rising
population base and growing healthcare investments. In addition, increasing
awareness level among people about HIE, various initiatives undertaken by
government in emerging economic countries such as India, China and Japan are
the factors driving the market growth over the decade. The demand for mobile
health applications and, cloud based systems are offering opportunities for the
healthcare IT providers.The major operating companies in the market are GE
Healthcare, Care Evolution, At & T Inc., Cerner Corporation, IBM Corp.,
Medicity, Philips, Epic Systems, InterSystems, Oracle, Kindred Healthcare,
Siemens Healthcare and Orion Health.
Kindred Healthcare is using
health information exchange technology to coordinate healthcare and achieve
improved outcomes. The company is investing in technology that helps them to
connect with their clinical applications so that when patients are discharged
from Kindred facility, their patient record can follow them and when they enter
one of their facilities, the caregivers will be able to view patient care
record from previous admission. This helps in eliminating unnecessary test and
treatment and, maintaining patient privacy and consent requirements.
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