Healthcare Information Exchange Market| Statistics & Trends | MarketsandMarkets™

According to the new market research report "Health Information Exchange Market by Set Up Type (Public, Private), Type (Pull, Push), Implementation Model (Federated, Hybrid), Application (Web Portal, Secure Messaging), Solution Type (Portal, Platform Centric), & End Users - Global Forecast to 2020", published by MarketsandMarkets™, The health information exchange market is projected to reach USD 1,545.0 million by 2020 from USD 990.6 million in 2015, at a CAGR of 9.3% during the forecast period.

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Federal mandates like Meaningful use, growing patient-centric approach in healthcare delivery, increasing EHR adoption rate, and need to curtail healthcare cost are some of the key factors driving the growth of market.

Health information exchange (HIE) involves the electronic movement of health-related information among organizations according to nationally recognized standards. HIE aims to facilitate the access and retrieval of clinical data to provide safer, timelier, efficient, effective, equitable, patient -centered care. HIE enables collaboration between healthcare stakeholders, cuts down on administrative tasks, and eventually provides greater transparency in the field of healthcare. HIE is an ever-changing concept. Continuously changing technological and regulatory environment consistently evolves the HIE space.

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This increasing usage of electronic health record as well as web portals for easy retrieval of patient information is driving the market for web portal development application segment

Web portal development

Over the years, web portals have been used in healthcare organizations to schedule appointments, register patients, and send secure email to providers. They are also used to provide laboratory results, refill prescription requests, and maintain personal health records. According to Stage 2 of Meaningful Use, patients should have access to view and download electronic copies of their own medical records. Web portals help in retrieving patient information, in an easier and efficient manner as compared to obta ining health records manually.

Workflow management

HIEs and EHRs help healthcare professionals in health management and enable better decision-making for enhanced patient care. HIEs also facilitate reduction in duplicative treatment, thus avoiding additional expenses.

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