Market Growth Rate for Healthcare Interoperability Solutions is...

Market Growth Rate for Healthcare Interoperability Solutions is Expected to Rise Toward 14 Percent by 2026

Healthcare Tech Outlook | Friday, July 29, 2022

Fremont, CA: To manage population health, interoperability in healthcare entails timely and secure access to, integration with, and use of electronic health records. Data sharing and the provision of collaborative or integrated care are made simpler by healthcare interoperability. Understanding the specific health requirements of a community is made possible by interoperability in healthcare, which can also increase revenue. A solution for healthcare interoperability can boost patient involvement and engagement in their treatment regimens.

The healthcare interoperability solutions market comprises companies (organizations, single proprietorships, and partnerships) selling interoperability solutions to the healthcare industry. The sharing of healthcare information across two or more systems gets referred to as interoperability. With the patient's permission, healthcare interoperability allows for smooth data sharing among healthcare companies. To achieve interoperability functions, every healthcare organization must optimize and implement electronic health records (EHRs) and health information exchange (HIE) services. The attainment of interoperability depends on five major components: privacy and security, standards, rules of engagement, adoption and optimization, and financial and clinical incentives.

Interoperability Solutions Market Segmentation

1) By Type: Software Services, Solutions

2) By Software Solution: Lab System Interoperability Solutions, Electronic Health Record (EHR) Interoperability Solutions, Imaging System Interoperability Solutions, Enterprise Interoperability Solutions, Healthcare Information Exchange Interoperability Solutions, Others

3) By Level of Interoperability: Structural Interoperability, Foundational Interoperability, and Semantic Interoperability

4) By End-User: Healthcare Payers, Healthcare Providers, and Pharmacies

The global healthcare interoperability solutions market is predicted to increase at a compound annual growth rate (CAGR) of 13.4 percent from 3.4 billion dollars in 2021 to 3.85 billion dollars in 2022. The global healthcare interoperability solution market is estimated to increase at a CAGR of 13.7 percent to 6.44 billion dollars in 2026.

Market Growth Drivers for Healthcare Interoperability Solutions

Over the next few years, government initiatives to improve patient care and safety will likely drive the expansion of the healthcare interoperability solutions market. The COVID-19 pandemic is causing a shortage in healthcare systems due to increased public demand. Government officials worldwide, such as the Centers for Medicare & Medicaid Services (CMS), have established the objective of enhancing healthcare accessibility by utilizing modern technologies to treat patients better. CMS, for example, will issue the CMS Interoperability and Patient Access Final Rule in May 2020. The rule encourages rules that facilitate advanced interoperability and accessibility to health information for all stakeholders.

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