Health information exchange (HIE) is the system of using and mobilizing health care information digitally throughout a community, organizations, the health care sector, and public health. The increasing emphasis on healthcare cost optimization is expected to propel the growth of the market during the forecast period. The concept of electronic health information exchange (HIE) performs an essential function of efficient access and exchange of patients’ health information through enhancing the quality, speed, safety, and cost of patient care. The electronic sharing of health data amongst clinicians and physicians avoids unnecessary paper and reports dealing with cost.
Moreover, HIE can enhance the completeness of the patient’s records, because the history, ongoing medications, and other health information of a patient are concurrently reviewed throughout visits. Further, timely sharing of patient information permits better decision-making and avoids readmissions, medication errors, and the cost of re-testing.
The global Health Information Exchange market was valued at USD 1,500.6 million in 2020, growing with a CAGR of 10.3% during the forecast period, 2021-2027. The speedy growth of health information technology has caused the increase in the exchange of patient medical information via Electronic Health Records (EHRs). The systems can gather patient information in addition to the share the information with other healthcare experts involved in the patient’s care. The governments, healthcare authorities, and market players are actively helping the adoption of EHR systems to streamline the procedure of healthcare activities. Moreover, the systems allow proper data gathering and exchange, allowing healthcare professionals to enhance the quality of the treatment.
In October 2020, Health Catalyst (US) entered into a multi-year strategic partnership with the Middle East Healthcare Company (MEAHCO) (Saudi Arabia). Under this partnership, six Saudi-German Hospitals in the Kingdom of Saudi Arabia (KSA) will have access to Health Catalyst’s DOS technology. Moreover, MEDITECH (US) collaborate with Steward Health Care in October 2021. Under this agreement, Steward Health implemented MEDITECH’s EHR system in 18 sites located across Texas, Arizona, Arkansas, Utah, and Louisiana. The aim was to implement Steward’s “One Platform” strategy to bring all 35 hospitals under a single HER.
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