Steady Growth Forecast for Health Insurance Exchange I.T. Market | Healthcare Informatics Magazine | Health IT | Information Technology Skip to content Skip to navigation

Steady Growth Forecast for Health Insurance Exchange I.T. Market

July 2, 2014
by John DeGaspari
| Reprints
Operations and maintenance, plus services segments lead growth

The global health insurance exchange (HIX) IT market, estimated $1,609 million in 2013, is expected to grow at a compound annual growth rate (CAGR) 10.5 percent in the next five years, with the U.S. market showing the greatest growth potential over the next five years, according to Reportlinker.com.

According to the report, private exchanges are expected to register the fastest growth rate among the HIX market by exchange type during the forecast period. It attributes that growth to a shift by large employers towards private exchanges to reduce health benefits administration costs and provide their employees with multiple plan options. Within private exchanges, multi-carrier exchanges primarily sponsored by third-party administrators such as brokers or benefits consultants are expected to grow at the highest CAGR during the forecast period.

High-growth market segments in the HIX IT market include the operations and maintenance segment, which is expected to grow at a highest CAGR during the forecast period. The factors contributing to its growth include ongoing operation costs for public as well as private exchanges post-implementation. The HIX services market is also projected to register a double-digit growth in the next five years, driven by the shift toward cloud-based services.

 

 

Get the latest information on Health IT and attend other valuable sessions at this two-day Summit providing healthcare leaders with educational content, insightful debate and dialogue on the future of healthcare and technology.

Learn More

Topics

News

KLAS Research: Small Hospitals’ Buying Decisions Impacting EMR Market Share

A new KLAS Research report tracks shifts in electronic medical record (EMR) vendor market share among acute care hospitals, and finds that smaller hospitals are seeking technology solutions that meet their needs and limited budgets, and these contracts are making a mark on the EMR market.

Survey: Majority of Providers Predict Success for New Generic Drug Company, Project Rx

Back in January, four health systems, in consultation with the VA, announced a collaboration to develop a new, not-for-profit generic drug company. A survey has found that 90 percent of providers say they would become customers of the new venture.

Personalized Medicine Awareness Low Among U.S. Adults, Survey Finds

Genetics and personalized medicine are not top of mind for the general public in the U.S., according to a recent survey from GenomeWeb and the Personalized Medicine Coalition.

Industry Organizations Praise Senate Passage of VA Mission Act

The U.S. Senate on Wednesday passed, by a vote of 92-5, a major Veterans Affairs (VA) reform bill that includes health IT-related provisions to improve health data exchange between VA healthcare providers and community care providers.

NIH Issues Funding Announcement for All of Us Genomic Research Program

The National Institutes of Health’s (NIH) “All of Us” Research Program has issued a funding announcement for genome centers to generate genotype and whole genome sequence data from participants’ biosamples.

MGMA: Physician Compensation Data Illustrates Nationwide PCP Shortage

Primary care physicians’ compensation rose by more than 10 percent over the past five years, representing an increase which is nearly double that of specialty physicians’ compensation over the same period, according to the Medical Group Management Association (MGMA).