HIEs are crucial for connecting communities and ensuring patient health records are always available. Healthcare information exchange is an integral and significant element of health information technology (HIT) infrastructure. Healthcare information exchange refers to the deployment of healthcare information electronically.
Market leaders operating in the market have undertaken various organic growth strategies in the health information exchange market. The health information exchange market majorly consists of the players such eClinicalWorks, Allscripts Healthcare, LLC, General Electric Company, Cerner Corporation, Orion Health group of companies, Health Catalyst, Inc., Nextgen Healthcare Information System, LLC, McKesson Corporation, Optum, Inc., and Oracle Corporation amongst others. Several organic approaches, such as product launches, and expansion in the health information exchange market, have resulted in the positive growth of the market. Product launches help the company to strengthen its product offering and the customer base, which allows the company to hold a strong position in the market. Similarly, utilizing expansion activities, it is easy to venture into untapped economies and use the opportunities being offered.
Allscripts Healthcare, LLC and General Electric Company -Notable Market Players in Health Information Exchange Market
The health information exchange market is witnessing substantial growth amid the COVID-19 pandemic. A few factors such as higher emphasis on the utilization of healthcare IT infrastructure for data transfer, ease of use, and cost optimization are propelling the adoption of health information exchange during the pandemic. For instance, during the pandemic, in March 2020, HealtHIE Nevada (US), increased its patient data exchange by 36% since the beginning of the COVID-19 pandemic. Due to the growing patient volumes, the demand for EMR and EHR platforms to manage complex patient data has increased, which ultimately accelerated the market growth during the pandemic.
Below is the list of the growth strategies done by the players operating in the health information exchange market:
|March 2021||Health Catalyst, Inc. announced launch of new Healthcare.AI in order to offer augmented intelligence. This launch of next generation suit is expected to show positive impact on adoption of AI in healthcare.|
|Feb-2020||Allscripts Healthcare Solutions and Manorama Infosolutions has performed a partnership strategy, to deliver an integrated Healthcare Management Information System and Health Information Exchange platform. Manorama is likely to Integrate Allscripts interoperability platform, dbMotion Solution with Lifeline Suite of solutions, extending its reach to an additional 1.4 billion people.|
|Jul-2019||Cerner Corporation has collaborated with Amazon Web Services, Inc. (AWS). Under this collaboration agreement, Cerner Corporation (US) named AWS its preferred cloud provider. The agreement also focuses on accelerating Artificial Intelligence (AI), Machine Learning (ML), and other cutting-edge innovations in healthcare.|