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U.S. Health Information Exchange Market Enters Prime Time in Rapidly Transforming Healthcare Industry Finds Frost & Sullivan - The expansion of care settings and the need for value-added services for accountable care are key to HIE market growth - ConnectedHealth.frost.com
U.S. Health Information Exchange Market Enters Prime Time in Rapidly Transforming Healthcare Industry Finds Frost & Sullivan

 

PRZOOM - /newswire/ - Mountain View, CA, United States, 2012/11/27 - The expansion of care settings and the need for value-added services for accountable care are key to HIE market growth - ConnectedHealth.frost.com.

   
 
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The anticipated growth in the health information exchange (HIE) market is in large part due to a greater sense of certainty around the direction of healthcare reform that has emerged from the Supreme Court ruling on the Affordable Care Act (ACA) and the re-election of President Barack Obama. Other key factors propelling this market include Stage 2 Meaningful Use requirements calling for more robust HIE participation among providers as well as stronger technical standards to ensure interoperability. In addition, HIE is essential as care settings expand beyond the traditional boundaries of the doctor's office or hospital in response to growing demand.

New analysis from Frost & Sullivan's (connectedhealth.frost.com) U.S. Health Information Exchange Market: A Comprehensive Guide to Market Dynamics, Technology Vendors, and Future Trends research predicts that healthcare providers will significantly ratchet up their participation in HIE over the next 18 to 24 months.

If you are interested in more information on this research, please send an email to Britni Myers, Corporate Communications, at britni.myers[.]frost.com with your full name, company name, job title, telephone number, company email address, company website, city, state and country.

Healthcare reform expands access to care, driving millions of new patients into the system starting in 2014. This means that additional settings for patient care must be leveraged to meet growing demand in the face of limited capacity. In this environment, it is vitally important to mobilize essential health data to the greatest degree possible so that information follows the patient across an ever-widening care continuum. The range of patient care will extend to encompass the patient's home to a variety of providers across communities and states — and even around the world. The growing deployment of mobile devices in healthcare and mobile health applications (or "apps") will also play a key role in accelerating the adoption of HIE and overcoming key challenges in integrating data exchange into the clinician workflow.

"Most healthcare providers realize that, despite the numerous complexities and challenges associated with the exchange of health data, HIE will continue to accelerate," said Frost & Sullivan Connected Health Principal Analyst Nancy Fabozzi. "The value gained from health data exchange is self-evident. Today, most providers agree that the key issue in HIE is not whether to do it, but how best to do it so that benefits are maximized and any potential harm is minimized. This means that the data exchange platform must be trustworthy, comprehensive and secure." Fabozzi believes that the growth of cloud-based HIE solutions will necessitate new protocols and solutions that require state-of-the-art security systems expertise to alleviate concerns about data breaches.

As growing numbers of providers, payers and patients participate in HIE, Frost & Sullivan predicts that demand for services beyond simple transactional data exchange will accelerate significantly. Participants in HIE will continue to gravitate towards organizations and technology vendors capable of providing a wide range of solutions and services, particularly value-added services that enable patient engagement and predictive analytics needed to better manage patient populations and contain risk, especially for emerging accountable care organizations (ACOs). Leveraging advanced HIE functions is essential for coordinating patient care, improving quality and organizational efficiency, and, ultimately, competitive positioning.

U.S. Health Information Exchange Market: A Comprehensive Guide to Market Dynamics, Technology Vendors, and Future Trends, a part of the global Connected Health Growth Partnership Services program, provides a roadmap for understanding the growing market for HIE solutions and services. The analysis includes an in-depth overview of the technical aspects of HIE; a review of major government initiatives driving HIE efforts across the U.S; and definitions and descriptions of the major market segments, including solutions and services used by public HIE organizations and private entities, like hospitals and physician practices. The research includes a thorough discussion of the competitive market structure including business models and pricing approaches, as well as a review of key market considerations and strategic imperatives relevant to a variety of stakeholders involved in this market, particularly IT vendors. Also included are brief profiles of 18 key technology vendors serving the market.

About Frost & Sullivan
Frost & Sullivan (frost.com), the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants.

Our "Growth Partnership" supports clients by addressing these opportunities and incorporating two key elements driving visionary innovation: The Integrated Value Proposition and The Partnership Infrastructure.

The Integrated Value Proposition provides support to our clients throughout all phases of their journey to visionary innovation including: research, analysis, strategy, vision, innovation and implementation.
The Partnership Infrastructure is entirely unique as it constructs the foundation upon which visionary innovation becomes possible. This includes our 360 degree research, comprehensive industry coverage, career best practices as well as our global footprint of more than 40 offices.

For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Is your organization prepared for the next profound wave of industry convergence, disruptive technologies, increasing competitive intensity, Mega Trends, breakthrough best practices, changing customer dynamics and emerging economies?

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U.S. Health Information Exchange Market: A Comprehensive Guide to Market Dynamics, Technology Vendors, and Future Trends / N8A7-48

 
 
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U.S. Health Information Exchange Market Enters Prime Time in Rapidly Transforming Healthcare Industry Finds Frost & Sullivan

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