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.
According to Data Bridge Market Research, Computer Assisted Coding Market 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.
"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.
Segmentation: Global Computer Assisted Coding Market
The computer assisted coding market is segmented on the basis of product, mode of delivery, application and end user.
- On the basis of product, the computer assisted coding market is segmented into software, services.
- On the basis of mode of delivery, the computer assisted coding market is segmented into web-based solutions, on-premise solutions, cloud-based solutions.
- On the basis of application, the computer assisted coding market is segmented into automated computer-assisted encoding, management reporting and analytics, clinical coding auditing.
- On the basis of end user, the computer assisted coding market is segmented into hospitals, physician practices, academic medical centers, clinical laboratories and diagnostic centers, other.
Regional Insights: North America dominates the Global Computer Assisted Coding Market
North America's dominance in the computer-assisted coding market can be attributed to several factors. The region has witnessed a significant shift towards a patient-centric approach in healthcare, driving the demand for advanced technology solutions like computer-assisted coding. Additionally, favorable government funding policies and initiatives promoting the implementation of healthcare IT solutions have further accelerated the adoption of computer-assisted coding in North America. These factors, coupled with the region's well-established healthcare infrastructure, contribute to its leadership position in the market.
The Asia-Pacific region is poised to experience significant growth in the computer-assisted coding market due to several factors. The region is witnessing advancements in healthcare infrastructure, with increased investments in healthcare facilities and technology. The growing economies in countries like China and India are driving the demand for efficient and streamlined healthcare services, including computer-assisted coding solutions. Moreover, the rising adoption of electronic health records (EHR) and healthcare IT systems in the region further fuels the market growth for computer-assisted coding in Asia-Pacific.
To know more about the study, visit, https://www.databridgemarketresearch.com/zh/reports/global-computer-assisted-coding-market
Recent Developments in Global Computer Assisted Coding Market
- In 2022, Oracle purchased Cerner Corporation, a company that makes digital information systems for hospitals that help doctors deliver better care.
- In 2021, The 3M Company has introduced a new technology platform that enables payers and healthcare providers to prioritize care and allocate resources for patient populations and high-risk individuals. To give a complete picture of a patient's health, 3M Social Determinants of Health Analytics (3M SDoH) integrates clinical, social, and population health data.
The Prominent Key Players Operating in the Global Computer Assisted Coding Market Include:
- 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.)
Above are the key players covered in the report, to know about more and exhaustive list of computer assisted coding market companies contact, https://www.databridgemarketresearch.com/zh/contact
Research Methodology: Global Computer Assisted Coding Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used 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. Apart from this, data models include vendor positioning grid, market time line analysis, market overview and guide, company positioning grid, company market share analysis, standards of measurement, global vs regional and vendor share analysis. Please request analyst call in case of further inquiry.
