HIE successes driving market growth

The health information exchange (HIE) market is set for healthy growth.

The global market is expected to jump from $558 million in 2013 to $878 million by 2018, according to a report from research firm MarketsandMarkets.

The rising demand for HIE and EHR technologies, the increasing number of U.S. federal government incentive programs and the need to reduce healthcare costs are the major drivers for this market, according to the firm.

North America accounted for the largest share of the global HIE market in 2013, as a majority of HIE companies are concentrated in the U.S. The Asian region is expected to grow rapidly in the forecast period due to government initiatives and increased health IT spending.

The growth may in part be driven by successful cases of cost savings and patient outcomes. For example, HIE usage directly correlated with significant cost savings and a 30 percent reduction in readmissions through the emergency department (ED).

Researchers examined claims information to determine whether the ED encounter resulted in an admission and they also used the HIE’s system log files to determine usage during the encounter.

The researchers found that the HIE system was accessed during 2.4 percent of encounters, with the odds of an admission 30 percent lower when the system was accessed after controlling for confounding. The annual savings in the sample was $357,000.

“These findings suggest that the use of an HIE system may reduce hospitalizations from the ED with resultant cost savings,” according to the authors. “This is an important outcome given the substantial financial investment in interventions designed to improve provider access to patient information in the U.S.”

Beth Walsh

Clinical Innovation + Technology editor