Let us hypothesize a scenario where health and medical professionals have secure access to comprehensive health information and treatment protocols that would consider expenses and social influencers of health unique to all the patients. In this way, technology can help in preventing disease, identifying the need to adjust medications, and delivering interventions. Continuous monitoring can help healthcare organizations to develop personalized therapies that would address unmet medical needs sooner. Rather than seeking care only after falling sick, focus can be given to cost-effective prevention and keeping people healthy longer. Payment obligations, including co-pays and other cost sharing, can be calculated prospectively. This can be achieved through radically interoperable data. The future of health relies on timely and relevant health and other data flowing between consumers, today’s health care incumbents, and new entrants. This requires the co-operation within the entire medical industry, including hospitals, physicians, health plans, technology companies, medical device companies, pharma companies, and consumers.
The biggest drivers of the global radical interoperability market include value-based care (51 per cent) and regulations (47 per cent), according to a survey. Interviewees have also pointed to consumer demand as a driver. Cost of care, consumer experience and care co-ordination and patient outcomes would benefit the most from the global radical interoperability market in the upcoming years.
The global radical interoperability market is segmented on the basis of setup type as private and public. The private segment is expected grow during 2020 and 2026, owing to large number of companies present in the market. The market for public is also expected to increase during the stated period due to various government initiatives for smooth exchange of health and other data that is, interoperability —between consumers, healthcare organizations and new entrants. With respect to implementation model, the centralized/consolidated model segment is expected to hold the largest market share in the implementation model segment. This is because this model connects a number of payer, provider, and public health data sources through a one common data pool. Thirdly, on the basis of deployment model, the global radical interoperability market the cloud segment is expected to occupy the largest market share in terms of revenue in the deployment model segment. This segment is expected to grow owing to large information which can be stored in cloud and easy accessibility of that information anywhere in the world, are some of the major factors for the growth of the segment. Fourthly, based on component, the global radical interoperability market dominated by the healthcare Provider Directory (HPD) segment which would occupy the largest market share in terms of revenue in the component segment. In region-wise analysis, North America region is going to lead in terms of market share. The Asia-Pacific region is expected to witness considerable growth in the radical interoperability market. Asia-Pacific is currently home to over half of the world’s elderly population.
A recent report on the global radical interoperability market was published by Global Market Estimates Research and Consultants (GME) in March 2020. The market can be segmented on several grounds. On the basis of setup type, the global radical interoperability market is segmented into private and public. On the basis of implementation model, this market is segmented into centralized/consolidated models, decentralized/federated models and hybrid model. Based on the deployment model, the global radical interoperability market is segmented into cloud and on-premise. On the basis of component, the global radical interoperability market is segmented into Enterprise Master Person Index (EMPI), Healthcare Provider Directory (HPD), Record Locator Service (RLS), and clinical data repository among others.
The end-user landscape entails a list of current and prospective consumers prevailing across the regions. This section briefs you about company addresses, contact details, products, and regional presence of companies who are purchasing or are likely to purchase radical interoperability. The key end-users of the markets are Sun Pharma, Abbott, and HCL among others. The report contains a chapter dedicated to vendors operating in the market, covering raw material manufactures, equipment developers, manufacturers, and distributors. The report provides these insights on a regional level. Some of the key players operating in the radical interoperability market are Allscripts Healthcare Solutions Inc, Cerner Corporation, Open Text Corporation, Infor, Inc, Conifer Health Solutions, Epic Corporation Inc, Optum Inc, Orion Health, NextGen Healthcare Information Systems LLC, Medicity, Inc, Relayhealth Corporation eClinicalWorks, Amazon, Apple and Google among others.
Press Release published by Global Market Estimates Research & Consultants: Global Radical Interoperability Market Research Report - Forecasts to 2026