Health Information Exchange Market Size

Health Information Exchange Market Size

Health Information Exchange Market size was valued at around USD 1.6 billion in 2023 and is expected to grow at a CAGR of 10.5% from 2024 to 2032. The increasing adoption and support for electronic medical records (EMR) and electronic health records (EHR) are significant drivers of growth in the market.

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Improved interoperability, enhanced patient care, regulatory support, and operational efficiencies from the widespread adoption of these systems contribute to the expansion and effectiveness of HIE platforms. EMRs and EHRs are designed to be interoperable, enabling different healthcare systems to communicate and share patient information efficiently. This interoperability is foundational for HIE platforms, which rely on the seamless exchange of data across various healthcare entities.

For instance, a 2021 report by the American Hospital Association (AHA) indicated that 96% of hospitals in the U.S. had adopted certified EHR technology. These adoption rates and government incentives underscore the significant impact of EMRs and EHRs in promoting health information exchange and advancing the healthcare industry's digital transformation.

Health information exchange (HIE) refers to the process of electronically mobilizing healthcare information across organizations within a region, community, or hospital system. The goal of HIE is to facilitate access to and retrieval of clinical data to provide safer, more timely, efficient, effective, equitable, and patient-centered care.