Computer Assisted Coding Market Poised for Remarkable Growth, projected to Hit US$ 13.08 Billion by 2030
Quality and transparency has been strictly maintained while carrying out research studies to provide an exceptional market research report for a niche. Global Computer Assisted Coding Market research report makes Healthcare industry well acquainted with profound knowledge of the global, regional and local market statistics. The report puts forth an absolute overview of the market that contains various aspects of market analysis, product definition, market segmentation, key developments, and the existing vendor landscape. Market drivers and market restraints are studied carefully along with the analysis of the market structure. The significant Global Computer Assisted Coding Market report also assists in finding out the likely market for a new product to be launched and the most pertinent method for the distribution of certain product.
The superior Global Computer Assisted Coding Market business report is a wonderful guide to achieve an information or key data about market, emerging trends, product usage, motivating factors for customers, competitor strategies, brand positioning, customer preferences, and customer behaviour. Competitive analysis carried out in this market report puts forth the moves of the key players in the Healthcare industry such as new product launches, expansions, agreements, joint ventures, partnerships, and recent acquisitions. The key research methodology that has been employed here by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation.
The market for computer-assisted coding will grow more quickly as a result of the increased use of EHR systems. The increased use of computer-assisted coding (CAC) solutions to lower rising healthcare costs is a significant factor fueling market expansion. The two main factors that will accelerate market growth are the rising focus on physician computer-assisted coding in outpatient settings and increased regulatory requirements for patient data management. Additionally, businesses and governments are rolling back the quick improvements in the world’s healthcare infrastructure and expanding insurance reimbursement practices.
Data Bridge Market Research analyses that the computer assisted coding market which is USD 4.65 billion in 2022, is expected to reach USD 13.08 billion by 2030, at a CAGR of 13.8% during the forecast period 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
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A computer-assisted coding system (CAC) is software that analyses medical records and generates a unique keyword for specific phrases and terms. These keywords provided by (CACS) can help to increase productivity and decrease administrative processing time. The primary goal of computer-assisted coding software is to reduce errors and increase the facility’s efficiency. Computer-assisted coding provides products and services such as software, structured input software, standalone software, services, integrated software, support and maintenance, and education and training. It is used in a variety of applications, including automated computer-assisted coding, management reporting and analytics, and clinical coding auditing.
Recent Developments
- In 2022, Oracle acquired Cerner Corporation, a provider of digital information systems used within hospitals to enable medical professionals to provide better healthcare.
- In 2021, 3M Company launched a new technology platform that allows healthcare providers and payers to prioritize care and allocate resources for high-risk individuals and patient populations. 3M social determinants of health analytics (3M SDoH) integrates clinical, social, and population health data to provide a comprehensive picture of patient health.
“Increasing need for accurate and efficient coding surge market demand”
The increasing need for accurate and efficient coding in the healthcare industry is driving the adoption of computer-assisted coding systems. With the complexity of medical coding and the exponential growth of healthcare data, manual coding processes are prone to errors and inefficiencies. Computer-assisted coding systems leverage advanced technologies, such as natural language processing and machine learning, to automate coding tasks, ensuring accuracy and efficiency in the coding process while reducing the burden on coding professionals.
What restraints the growth of the computer assisted coding market?
“Cost implications can impede the market growth”
The upfront costs involved, such as software licenses, hardware infrastructure, training, and ongoing maintenance, can be substantial. This poses a challenge for smaller healthcare organizations or those with limited budgets, as the investment required may exceed their financial capabilities. The cost barrier could hinder their ability to adopt and maintain computer-assisted coding systems, limiting their access to the potential benefits and efficiencies offered by this technology.
Some of the major players operating in the computer assisted coding market are:
- 3M (U.S.)
- Optum Inc. (U.S.)
- Nuance Communications, Inc. (U.S.)
- MCKESSON CORPORATION (U.S.)
- Cerner Corporation (U.S.)
- Dolbey (U.S.)
- The Craneware Group (U.K.)
- Artificial Medical Intelligence (U.S.)
- TruCode LLC (U.S.)
- Streamline Healthcare Solutions (India)
- Epic Systems Corporation (U.S.)
- athenahealth, Inc. (U.S.)
- iMedX Inc. (U.S.)
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Computer Assisted Coding Market Scope
Product
- Software
- Standalone software
- Natural language processing software
- Structured input software
- Integrated software
- Services
- Support
- Maintenance and education and training
Mode of Delivery
- Web-Based Solutions
- On-Premise Solutions
- Cloud-Based Solutions
Application
- Automated Computer-Assisted Encoding
- Management Reporting and Analytics
- Clinical Coding Auditing
End User
- Hospitals
- Physician Practices
- Academic Medical Centers
- Clinical Laboratories
- Diagnostic Centers
- Other
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on the product portfolios of the top players in the this research report
- Product Development/Innovation: Detailed insights on upcoming technologies, R&D activities, and product launches in the market
- Competitive Assessment: In-depth assessment of the market strategies, and geographic and business segments of the leading players in the market
- Market Development: Comprehensive information about emerging markets. This report analyzes the market for various segments across geographies
Top Key Topics Covered:
- Strategic Imperatives
- Factors Creating Pressure on Growth
- The Strategic Imperative
- Growth Opportunities Fuel the Growth Pipeline Engine
- Research Methodology
- Scope and Segmentation
- Research Context and Scope of Analysis
- Segmentation
- Other Techniques for This Research Report Management
- Growth Opportunity Analysis
- Growth Drivers
- Growth Restraints
- Introduction
- The Impact of the COVID-19 Pandemic and Post
- Future Growth
- Innovation Ecosystem
Continued…
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Some of the Most Important Questions Scrutinized in the Business Intelligence Report:
- What are the key growth parameters for this global market during the forecast period?
- Which key players are expected to hold the largest market share over the forecast period?
- Who are the leading vendors and manufacturers in this market?
- What are the key strategies adopted by leading players in the market for business development and geographical expansion?
- Which end-use industries can trigger high demand in the market over the forecast period?
- What are the key segments in this market?
- Which regional player will have anticipated leading the global market in terms of size?
- What is the impact of the novel coronavirus pandemic?
- Which obstacles must new players overcome in order to occupy a major position?
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