Revenue cycle management (RCM) integration in healthcare information technology (IT) is a critical feature that aligns with the broader goals of seamless data exchange and operational efficiency. It integrates with billing and financial systems, and RCM optimization streamlines claims processing, billing procedures, and reimbursement workflows. This integration ensures a cohesive flow of data across various revenue cycle stages, reducing errors and delays.
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Data Bridge Market Research analyzes the U.S. Healthcare Information Technology (IT) Integration Market will grow at a CAGR of 13.7%, during the forecast period of 2022 to 2029. The emphasis on improved patient engagement, facilitated by healthcare IT integration in the U.S., is a critical market driver. Providers seek integrated solutions to deploy patient portals and telehealth platforms, enhancing communication and involvement in care.
Key Findings of the Study
Increasing emphasis on data analytics and business intelligence is expected to drive the market's growth rate
In the U.S. healthcare information technology (IT) integration market, the increasing emphasis on data analytics and business intelligence is a prominent driver. Healthcare providers actively seek integrated IT solutions that aggregate and analyze data from diverse sources. This demand stems from these technologies' crucial role in informed decision-making within the healthcare sector. Integrated systems enable healthcare organizations to derive meaningful insights from patient records, treatment outcomes, and operational data, fostering more effective care delivery. The drive for data-driven decision-making aligns with the broader industry shift towards value-based care and optimized operational efficiency.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014-2019)
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Quantitative Units
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Revenue in USD Million, Volume in Units, Pricing in USD
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Segments Covered
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Product and Services (Product and Services), Application (Medical Device Integration, Internal Integration, Hospital Integration, Lab Integration, Clinics Integration, and Radiology Integration), Facility Size (Large, Medium, and Small), Purchase Mode (Group Purchase Organization and Individual), End User (Hospitals, Laboratory, Diagnostic Centers, Radiology Centers and Clinics)
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Market Players Covered
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Lyniate (U.S.), Redox, Inc. (U.S.), CarePoint Health (U.S.), NextGen Healthcare Inc. (U.S.), Interfaceware, Inc. Canada, Koninklijke Philips Netherlands, Oracle (U.S.), AVI-SPL, INC. (U.S.), Allscripts Healthcare Solutions, Inc. (U.S.), Epic Systems Corporation (U.S.), Qualcomm Life Inc. (U.S.), Capsule Technologies Inc. (U.S.), Orion Health (New Zealand), Quality Systems, Inc. (U.S.), Cerner Corporation (U.S.), InterSystems Corporation (U.S.), Infor Inc. (U.S.), GE Healthcare (U.K.), McKesson Corporation (U.S.), Meditech (U.S.)
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Data Points Covered in the Report
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
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Segment Analysis:
The U.S. healthcare information technology (IT) integration market is segmented on the basis of product and services, application, facility size, purchase mode, and end user.
- On the basis of product and services, the U.S. healthcare information technology (IT) integration market is segmented into product and services
- On the basis of application, the U.S. healthcare information technology (IT) integration market is segmented into medical device integration, internal integration, hospital integration, lab integration, clinics integration, and radiology integration
- On the basis of facility size, the U.S. healthcare information technology (IT) integration market is segmented into large, medium and small
- On the basis of purchase mode, the U.S. healthcare information technology (IT) integration market is segmented into group purchase organization and individual
- On the basis of end user, the U.S. healthcare information technology (IT) integration market is segmented into hospitals, laboratory, diagnostic centers, radiology centers, and clinics
Major Players
Data Bridge Market Research recognizes the following companies as the major U.S. healthcare information technology (IT) integration market players in U.S. healthcare information technology (IT) integration market are Lyniate (U.S.), Redox, Inc. (U.S.), CarePoint Health (U.S.), NextGen Healthcare Inc. (U.S.), Interfaceware, Inc. Canada, Koninklijke Philips Netherlands, Oracle (U.S.), AVI-SPL, INC. (U.S.), Allscripts Healthcare Solutions, Inc. (U.S.)
Market Developments
- In August 2022, Oracle announced a significant development in cloud connectivity by launching Rapid direct connections to Oracle Cloud Infrastructure (OCI). This offering specifically targeted Internet2 member institutions, streamlining their transition to the cloud. Leveraging Internet2's Cloud Connect dedicated network connection, participating institutions could seamlessly extend their data centers to OCI. Notably, this process was facilitated through their existing Internet2 connections, allowing for a swift migration to OCI within days. Internet2 waived additional fees for up to 5Gbps, making it a cost-effective solution for institutions. This initiative aimed to empower organizations to harness cloud resources effortlessly, supporting endeavors in research, collaboration, and the broader academic enterprise without necessitating substantial new investments
- In July 2022, the Aster DM Healthcare Group's innovation hub, the Aster Innovation and Research Centre, collaborated with global technology leaders Intel Corporation and AI platform provider CARPL.ai. Together, they worked towards developing and launching an AI-powered health data platform within the Indian healthcare landscape. This platform marked a significant stride in leveraging artificial intelligence for healthcare purposes. The partnership aimed to integrate cutting-edge technologies to enhance the accessibility and analysis of health data, potentially revolutionizing healthcare practices in India
- In June 2022, Epic Systems Corporation, a prominent player in the healthcare technology sector, announced its strategic decision to collaborate with the Trusted Exchange Framework and Common Agreement (TEFCA). TEFCA emerged as a framework designed to improve health data interoperability across the U.S. by fostering collaboration among information networks. By participating in this initiative, Epic Systems aimed to contribute to the establishment of a comprehensive and interoperable health information exchange. This move aligned with the broader goal of ensuring that individuals receive seamless access to complete, longitudinal health records, regardless of where they seek healthcare services. The decision to engage with TEFCA was seen as a strategic move to expand Epic Systems Corporation's footprint in the evolving landscape of health information exchange
- In May 2022, Innovaccer, a healthcare technology startup based in San Francisco, collaborated with St. Peter's Health, a nonprofit health system in Montana. This collaboration focused on integrating St. Peter's Health's healthcare cloud platform into various care locations to enhance care management. The partnership between Innovaccer and St. Peter's Health aimed to leverage technology to streamline healthcare processes, improve patient care, and optimize the overall healthcare experience. The integration of Innovaccer's healthcare cloud platform represented a step forward in the digital transformation of healthcare services, with potential benefits for both providers and patients
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