The Computer Assisted Coding Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Computer Assisted Coding Global Market Report 2024, 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.
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.
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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-Premise
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
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 report table of contents includes:
1. Executive Summary
2. Computer Assisted Coding Market Characteristics
3. Computer Assisted Coding Market Trends And Strategies
4. Computer Assisted Coding Market – Macro Economic Scenario
5. Global Computer Assisted Coding Market Size and Growth
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26. South America Computer Assisted Coding Market
27. Brazil Computer Assisted Coding Market
28. Middle East Computer Assisted Coding Market
29. Africa Computer Assisted Coding Market
30. Computer Assisted Coding Market Competitive Landscape And Company Profiles
Top Major Players:
- UnitedHealth Group Inc
- McKesson Corporation
- Microsoft Corporation
- Oracle Corporation
- 3M Company
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