November, 2024
The healthcare electronic data interchange market deals with the setting up and using automated exchange of business documents between organizations in a standardized format from one computer to another. Health Net of California, Health Net Health Plan of Oregon, Inc., and Health Net Life Insurance Company (Health Net) and providers use this technology to communicate claims, electronic remittance, claims payment, eligibility, and other information, providing a paperless and efficient process. EDI gives the tools to track electronic claims status, improve timely filing, and access daily accept or reject reports. This also means more accessible receivables and account reconciliation.
Additionally, a surge in end-users coupled with increasing adoption of EDI is expected to support the market growth during the forecast period. Healthcare EDI helps automate business processes such as claims submission and payment, insurance eligibility checks, and data reporting. In May 2022, NextGen Healthcare, Inc., a provider of cloud-based healthcare IT solutions, announced the launch of NextGen Health Data Hub Insights, a modern and expandable data warehouse and custom analytics solution.
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