The benefits associated with the use of EDI, such as cost reductions and reduced time of transactions, have improved the healthcare market. In a recent report on Healthcare Informatics, the EDI healthcare market is expected to grow at a CAGR of 13.7 percent from 2013 to 2018. And the total value of the EDI market, inclusive of healthcare, is expected to be $1.68 billion by 2018.
So why are there still companies "holding" out on investing in their EDI and integration technology?
When companies have a budget, they tend to do a variety of other objectives before investing in their EDI and integration programs, such as:
- pay down debt
- strengthen balance sheets
- hold cash...recently at record levels
- buy back stock
- stop investments due to market, regulation, or ROI uncertainties
This is not an incredibly original idea I realize, but a good question to pose when your company holds a lot of cash, your integration project projects a great ROI, and your project is denied because “it is not in the budget”.