openPR Logo
Press release

Healthcare EDI Market - Size, Share, Outlook

08-16-2018 04:26 PM CET | Health & Medicine

Press release from: Coherent Market Insights

Increasing digitization and paperless office is enhancing the growth of healthcare EDI market. Conventionally, data transfer was subjected to paper-based communication, increasing the chance of human error and making the workflow cumbersome. Henceforth, EDI is an essential component for creating administrative efficiencies by reducing time and significant cost saving.

The healthcare industry explored EDI to address the challenges of reducing healthcare cost and replacing paper-based transaction with standard electronic transaction. Moreover, government acts such as Health Insurance Portability Act of 1996 (HIPAA) created standards to achieve administrative simplicity in healthcare industry.

The benefits of EDI over conventional method of data interchange is the major factor driving the healthcare EDI market growth. EDI reduces data entry time, improves accuracy, reduce operational cost, and also reduce the rework. Such key features of EDI software supports the growth of healthcare EDI market.

Click To Continue Reading On Healthcare EDI Market
https://www.coherentmarketinsights.com/ongoing-insight/healthcare-edi-market-2006

Healthcare EDI market is propelled by increasing adoption of EDI facilities in order to accelerate financial performance and profitability for healthcare payers and providers. For instance, according to GE Healthcare, the Centricity EDI Service of GE Healthcare employs more than 2,100 healthcare providers to manage around 588 million transaction annually. EDI is adopted to reduce the claim rejection and denials as well as reduce time requirement for submission and remission of claims.

Furthermore, the use of EDI serves important role in insurance claims and documentation by streamlining the reimbursement process for healthcare payers. However, high cost of EDI software and its application are expected to be the major factor hindering the healthcare EDI market growth over the forecast period.

Get The Holistic SAMPLE With Research Methodology:

https://www.coherentmarketinsights.com/insight/request-sample/2006

About Coherent Market Insights:

Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

Contact Us:

Mr.Shah
Coherent Market Insights
1001 4th Ave,
#3200
Seattle, WA 98154
Tel: +1-206-701-6702
Email:sales@coherentmarketinsights.com

Visit our news Website: https://www.coherenttimes.org

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Healthcare EDI Market - Size, Share, Outlook here

News-ID: 1183556 • Views: 603

More Releases from Coherent Market Insights

Skull Clamp Market with Geographic Segmentation, Statistical Forecast and Compet …
Report Summary: The Web Real-Time Communication Market Research Report provides extensive information on the following topics: Industry size, share, growth, segmentation, manufacturers and progress, main trends, market drivers, challenges, standardization, deployment models, opportunities, strategies, future road maps, and Annual forecast till 2027. Our latest analysis suggests that, Market Will Boom In Near Future The research provides a professional '130 Pages' in-depth study of the Web Real-Time Communication Market's historic and present scenario have
Edge Computing Market Insights: 2023 Growth Factors with Geographical Analysis a …
Report Summary: The Edge Computing Market Research Report provides extensive information on the following topics: Industry size, share, growth, segmentation, manufacturers and progress, main trends, market drivers, challenges, standardization, deployment models, opportunities, strategies, future road maps, and Annual forecast till 2027. The research provides a professional '130 Pages' in-depth study of the Edge Computing Market's historic and present scenario have also been checked including, Important manufacturers, product/service applications and types, key regions
Agriculture Robots Market Forecast To Witness Considerable Growth From 2022 To 2 …
Report Summary: The Agriculture Robots Market Research Report provides extensive information on the following topics: Industry size, share, growth, segmentation, manufacturers and progress, main trends, market drivers, challenges, standardization, deployment models, opportunities, strategies, future road maps, and Annual forecast till 2027. The research provides a professional '130 Pages' in-depth study of the Agriculture Robots Market's historic and present scenario have also been checked including, Important manufacturers, product/service applications and types, key regions
Sterile Powder Filling Machine Market Expected to Expand at a Steady 2023-2030 | …
What are New Additions in 2023? 1. Detailed industry forecast 2. More information on the company's key players 3. On-demand customized reports and analyst assistance 4. Recent market developments and future growth prospects 5. Requested customized regional/country reports Sterile Powder Filling Machine Market Projections : The global sterile powder filling machine market is estimated to be valued at US$ 304.634 Mn in 2022 and is expected to exhibit a CAGR of 4.7% over the forecast

All 5 Releases


More Releases for EDI

Global Healthcare EDI Market
New Jersey, United States: In the recently published financial credit Healthcare EDI Market by Stratagem Markets Insights, market buildup will continue throughout the predicted time of 2021-2028. The report contains data in this area and the latest trends in the proclamation. An overview of key song aspects is summarized, subsequent to inflection as regards the leading markets, the highest demands, and applications of top key players. The append contains push
Healthcare EDI Market: Opportunities and Challenges
The Global Healthcare EDI Market is valued at USD 2.56 billion in 2017 and is expected to reach to USD 3.77 billion by 2022 growing at a CAGR of 8.1% during the forecast period (2017 to 2022), as per a report by MarketsandMarkets. Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=130571438 Why increase in outsourcing of EDI services presents an opportunity? EDI outsourcing is the process of having a third party manage a part or the
Electronic Data Interchange (EDI) Market - Increase In Requirement of EDI In Sma …
Electronic data interchange (EDI) refers to transaction of business documents in a standard electronic format between business partners. For instance, common documents that are exchanged with the help of EDI are invoices, advance ship notices, and purchase orders. However, there are several other documents such as inventory documents, bill of lading, customs documents, payment documents, and shipping status documents. Electronic data interchange helps organizations to standardize the interchange of data
Healthcare EDI Industry Analysis, Market Size, Trends, Status and Forecast 2022 …
The Global Healthcare EDI Market has been comprehensively detailed in the report with special focus on a range of key elements such as market share, forecast and base figures, CAGR, driving factors, growth restraints, and business opportunities. Buyers of the report are expected to be informed about significant improvements in the market and its future outlook. This could help them to take intelligent decisions when operating in the business. In
POOL4TOOL Founds Subsidiary Focused on EDI
Vienna | Haid, October 15, 2013 – POOL4TOOL responds to the increasing demand for EDI connections to the supply base portal. The solution provider has founded the subsidiary “POOL4TOOL EDI powered by GDP”, in order to efficiently connect as many suppliers as possible in the future. Together with Global Digital Post (GDP), POOL4TOOL is planning additional support measures for businesses. POOL4TOOL, a solutions provider for purchasing optimization, is working together with
Cloud EDI Provider Creates Customer Advisory Group for Retail EDI Needs
Web EDI Provider Beacon EDI, Inc will connect with suppliers of retailers who are being forced to become EDI compliant. Alex Perlin, co-founder of Beacon EDI, is excited to announce that the EDI solutions currently in development will be improved with a customer advisory group. He hopes that the input from the group will help enhance the usability of the cloud EDI solution and report the findings to the