The computer assisted coding global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Computer Assisted Coding Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size —
The computer assisted coding market size has grown rapidly in recent years. It will grow from $5.11 billion in 2023 to $5.77 billion in 2024 at a compound annual growth rate (CAGR) of 13.1%. The growth in the historic period can be attributed to data explosion, regulatory compliance, business intelligence demand, customer experience enhancement, cost reduction and efficiency, increased awareness and education.
The computer assisted coding market size is expected to see rapid growth in the next few years. It will grow to $9.26 billion in 2028 at a compound annual growth rate (CAGR) of 12.5%. The growth in the forecast period can be attributed to ai and ml integration, predictive analytics demand, cross-industry adoption, enhanced security measures, real-time analytics. Major trends in the forecast period include technology advancements, natural language processing (nlp) advancements, ai-powered automation, multimodal content processing, real-time analytics.
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Scope Of Computer Assisted Coding Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Computer Assisted Coding Market Overview
Market Drivers –
The increasing adoption of electronic health records (EHR) is expected to fuel the growth of the computer-assisted coding market going forward. Electronic health records (EHRs) are digital versions of patients’ paper charts that systematically collect health information in a computerized format. Computer-assisted coding (CAC) enhances the efficiency and accuracy of electronic health records by automating the extraction and assignment of medical codes from clinical documentation. For instance, in September 2021, according to National Trends in Hospital and Physician Adoption of Electronic Health Records, a US-based intergovernmental organization, nearly all non-federal acute care hospitals (96%) and nearly 4 in 5 office-based physicians (78%) had adopted a certified electronic health record (EHR) in 2021, marking substantial progress compared to previous years. Therefore, an increasing adoption of electronic health records (EHR) is driving the growth of the computer-assisted coding market.
Market Trends —
Major companies operating in the computer-assisted coding market are focused on developing innovative products with advanced technologies, such as integration with natural language processing (NLP) technology, to provide reliable services to customers. Natural Language Processing (NLP) in computer-assisted coding analyzes medical documentation to extract relevant information for efficient and accurate medical coding. For instance, in September 2022, AGS Health, a US-based healthcare analytics technology company, launched an AGS AI platform. The AGS AI Platform revolutionizes revenue cycle management in healthcare by automating tasks such as insurance authorization, medical billing, and claim denials through revenue cycle automation. It employs intelligent robotic process automation (RPA) to streamline workflows, enhancing productivity and quality. The platform integrates Natural Language Processing and Understanding (NLP/NLU) for efficient data navigation and features intelligent authorization for quick service access. It also includes computer-assisted coding and clinical documentation improvement, utilizing RPA, machine learning, and NLP to improve productivity.
The computer assisted coding market covered in this report is segmented –
1) By Product: Software, Services
2) By Mode of Delivery: Web And Cloud Based, On-Premises
3) By Application: Automated Computer-Assisted Encoding, Management Reporting And Analytics, Clinical Coding Auditing
4) By End User: Hospitals, Physicians, Academic Medical Centers, Clinical Labs And Diagnosis Centers, Other Healthcare Providers
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Regional Insights —
North America was the largest region in the computer assisted coding market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the computer assisted coding market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies —
Major companies operating in the computer assisted coding market report are UnitedHealth Group Inc., McKesson Corporation, Microsoft Corporation, Oracle Corporation, 3M Company, GE HealthCare Technologies Inc., Epic Systems Corporation, Athenahealth Inc., Cerner Corporation, FinThrive Revenue Systems LLC, eClinicalWorks, NextGen Healthcare Inc., Medical Information Technology Inc., Computer Programs and Systems Inc., Availity LLC, Craneware plc, AGS Health, CareCloud Inc., ezDI Inc., Streamline Health Solutions Inc., ZyDoc Corporation, Codifyd Inc., Dolbey Systems Inc., Alpha II LLC, M-Scribe Technologies LLC, ChartWise Medical Systems Inc., Saince Inc., Talix Inc., Apervita Inc., Artificial Medical Intelligence Inc.
Table of Contents
1. Executive Summary
2. Computer Assisted Coding Market Report Structure
3. Computer Assisted Coding Market Trends And Strategies
4. Computer Assisted Coding Market — Macro Economic Scenario
5. Computer Assisted Coding Market Size And Growth
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27. Computer Assisted Coding Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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