5 Leading Innovators in the Healthcare Interoperability Solutions Market

What is interoperability in healthcare?

Interoperability in healthcare is a critical component of modern healthcare. It facilitates smoother access to patient information, enhances collaboration between doctors and other healthcare providers, and delivers care more effectively. With the introduction of advanced technologies like artificial intelligence and machine learning, healthcare interoperability has gained greater importance in ensuring that patients receive the best possible care.

Interoperability solutions in healthcare market also play an important role in allowing providers to exchange data securely. This helps prevent medical errors and reduces costs by simplifying administrative tasks. By using shared standards, systems can interact with each other in an efficient and effective manner, which leads to better outcomes for patients.

The global healthcare interoperability solutions market is experiencing significant growth and is expected to continue to expand in the coming years. As per BCC Research, the market is expected to grow from $3.4 billion in 2023 to $6.1 billion in 2028, boasting a strong compound annual growth rate (CAGR) of 12.7% during the forecast period.

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Let's explore five key players shaping the future of healthcare interoperability solutions.

Key Innovators in the Healthcare Interoperability Solutions Industry

Allscripts Healthcare Solutions (Veradigm):

Allscripts Healthcare Solutions was founded in 1986, is a publicly traded American company that offers practice management and electronic health record technology to physician practices, hospitals, and other healthcare providers. It also offers products for patient engagement, care coordination, financial and analytics technology. Their solutions are utilized globally, including in countries such as the United States, Australia, Canada, the United Kingdom, and Israel.

Veradigm links more than 300,000 healthcare providers across the United States via the Veradigm Network, serving over 170 million patients.

InterSystems Corporation:

The company was founded in 1978. InterSystems Corp. is a privately held software company that specializes in data management and analytics technologies for industries with complex challenges. Their products and solutions include database management, interoperability, machine learning and analytics, medication management, documentation and care planning, connectivity, business management system for labs, and revenue cycle management. Their solutions are used in over 88 countries around the world.

NextGen Healthcare, Inc.:

NextGen Healthcare, Inc. was founded in 1974, is a United States-based healthcare information technology company that provides electronic health record (HER) software and practice management systems to the healthcare industry. It also provides population health, financial management, and clinical solutions for medical and dental practices.

It is a leading provider of healthcare IT solutions to the ambulatory care market. The company’s HER software is used by over 100,000 healthcare providers in the United States. Its practice management system is used by over 40,000 healthcare providers in the United States.

Cerner Corporation (Oracle Cerner):

Cerner Corporation, founded in 1979, is a US-based company providing health information technology (HIT) platforms, services, and hardware to hospitals and health systems. On June 8, 2022, Cerner was acquired by Oracle Corporation and rebranded as Oracle Cerner, also known as Oracle Health in some countries.

Oracle Cerner's tools empower communities and individuals to engage in their health by providing data for informed decision-making in operations management. These tools also equip clinicians with information for smarter care provision.

Oracle technology, including Oracle Cerner, has been utilized by over 420,000 customers across 175 countries.

Epic Systems:

Epic systems was founded in 1979 and is a healthcare software company specializing in electronic health records (EHR) solutions. The company’s platform facilitates interoperability within healthcare organizations. This feature enables healthcare providers to readily access a patient's complete medical history across different institutions, thereby promoting informed clinical decision-making and improved care continuity.

Future of Healthcare Interoperability Solutions Market

Interoperability in healthcare, driven by AI and machine learning, is vital for efficient patient care. It enables secure data exchange, reduces medical errors, and simplifies administrative tasks. The global market for interoperability solutions is projected to reach $6.1 billion by 2028. Key players like Allscripts Healthcare Solutions, InterSystems Corporation, NextGen Healthcare, Inc., Oracle Cerner, and Epic Systems are shaping the future of healthcare interoperability solutions, offering innovative products and services that enhance patient care and outcomes. These advancements are expected to continue driving the growth of the healthcare interoperability solutions market.

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