Computer Assisted Coding Market Predicted Double-Digit Growth Rate by 2024

Global Computer Assisted Coding Market: Overview

Medical companies need to store ample amount of data in the system. Medical-related data include patient’s personal data and treatment history, which is stored in the document form in proper manner. These documents are handled by the administrative staff for billing at the time of patient’s discharge from the hospital. However, handling and preservation of records is a tedious task. Due to the emergence of information technology, these medical records are stored in digital format in computers. Extraction of appropriate data needs the time-consuming job of reading the entire documents carefully. Computer-assisted coding software is designed to solve this problem by using specific keywords. These keywords are analyzed by comparing data with the available database.

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Global Computer Assisted Coding Market: Growth Factors

The rapid acceptance of the electronic health record (EHR) in various healthcare facilities has resulted in a rise in the demand for computer assisted coding, which may drive the global computer assisted coding market. They can be used in the healthcare sector for insurance claim reimbursement. Computer-assisted coding software is extensively used in the healthcare facilities owing to the implementation of the ICD-10 coding in future. This is anticipated to boost the global market growth. However, World Health Organization (WHO) has released as a list for ICD-10 that is the 10th revision of the International Statistical Classification of Diseases & Related Health Problems (ICD). ICD-10 includes a number of codes for abnormal findings, diseases, complaints, symptoms, causes of injury, and social circumstances. The computer assisted software maintains this coding database, which may positively enhance the global computer assisted the coding market in coming years.

Global Computer Assisted Coding Market: Segmentation

The global computer assisted coding market is segregated based on type as CAC services, and CAC Software. The CAC services are sub-segmented as education and training and managed services. The CAC software is further sub-categorized as standalone and integrated. The global market is classified based on the mode of delivery as on-premises, web-based, and cloud-based. Moreover, the global market is fragmented on the basis of application as clinical code auditing, automated computer-assisted encoding, and management reporting and analytics. Furthermore, the global computer assisted coding market is divided based on end-user as academic medical centers, hospitals, clinical laboratories, physicians/clinics, and other healthcare organizations.

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Global Computer Assisted Coding Market: Regional Analysis

North America is the leading region for computer assisted coding across the world. This region is developing economically and stringent regulation implemented by the government may drive the global market. Europe will show a considerable growth in the computer-assisted the coding market in the near future. Other developing countries such as Brazil, China, and India contributed to the major market share due to rise in the healthcare infrastructure.

Global Computer Assisted Coding Market: Competitive Players

Major players dominating the global computer assisted coding market to include 3M Company, Cerner Corporation, QuadraMed Affinity Corporation, Artificial Medical Intelligence Inc., MModal IP LLC, and PlatoCode LLC. Other players include Trucode, Craneware PLC, Optum Inc., Precyse Solutions, Mckesson Corporation, Nuance Communications Inc., and Dolbey Systems Inc.

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