Global Computer Assisted Coding Market was valued US$2.76 Bn in 2017 and is estimated to reach US$6.96 Bn by 2026 at a CAGR of more than 12.26% during a forecast period.
Global Computer Assisted Coding Market is segmented by Product & Service, by Mode of Delivery, by Application, by End User and by Region.
Computer Assisted Coding Market by Product & Service segment is classified into Computer-assisted coding solutions and Computer-assisted coding services. By Mode of Delivery segment classified into Web-based, Cloud-based and On Premises. By Application segment is classified into Automated Encoding, Clinical Coding Audit and Management Reporting. By End User segment is classified into Payers and Providers. Geographically split into North America, Europe, Asia Pacific, Middle East & Africa and Latin America.
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In terms of product and service segment the Computer-assisted coding solutions is major in the Computer Assisted Coding Market. The solutions segment is divided into standalone and integrated software. The standalone computer-assisted coding software considered is of two typeâ€™s natural language processing software and structured input software. The services segment is divided into support & maintenance and education & training services. The Computer Assisted Coding solutions segment accounted for the largest share of the computer-assisted coding market. The large share can be accredited to the need to shift from ICD-9 to ICD-10 coding standards.
In terms of mode of delivery segment Cloud-based is major in the Computer Assisted Coding Market. The cloud-based solutions segment dominated the global computer-assisted coding market. This growth can be accredited to the benefit of its flexible, scalable, and affordable nature and extra advantage of a separate cloud for the client along with a public cloud server and easy access to information for users operating in different time zones and geographic locations.
In terms of Application segment Automated Encoding is major in the Computer Assisted Coding Market. By application the market is characterized into three types automated computer-assisted encoding, management reporting and analytics, and clinical code auditing. The automated computer-assisted encoding application is expected to grow at the highest CAGR during the forecast period. This can be accredited to increase in the volume of patient data and codes processed, rising adoption of electronic health records.
In terms of End User segment Providers is major in the Computer Assisted Coding Market. Providers sub segmented to Hospitals, Physicians/Clinics, Clinical laboratories & diagnostic centers, Academic medical centers and other healthcare institutions. The hospitals segment accounted for the principal share of the global computer-assisted coding market. The high growth rate of the hospitals segment can be primarily accredited to the successful and high acceptance of computer-assisted coding to curtail healthcare delivery costs while maintaining compliance.
Rising adoption of CAC solutions in North America due to the implementation of ICD-10 standards. Computer Assisted Coding is now becoming a trending process these days because it speeds up the coding process. Healthcare facilities adopt EHRs and clinicians become more explicit in their documentation efforts, coders have more to read, reducing down their production. There is also pressure to get claims to insurance companies quickly so payments arrive quicker. Due to the lack of coders in the healthcare, it is creating main problems in the maintenance of these coding support. Factors such as high implementation and maintenance costs are also restraining the progress of the market.
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North America hold the major share in the global Computer Assisted Coding market due rise in Growing government support for improving healthcare infrastructure, rising need for decreasing healthcare costs and improvements in healthcare facilities are driving the growth of the computer-assisted coding market in this region. All other regions are following to contribute the growth in Computer Assisted Coding Market.
The report includes detailed profiles of the prominent market players that are trending in the market. 3M Company, Cerner Corporation, QuadraMed Affinity Corporation, Artificial Medical Intelligence Inc., MModal IP LLC, PlatoCode LLC., Trucode, Craneware PLC, Optum Inc., Precyse Solutions, Mckesson Corporation, Nuance Communications Inc., and Dolbey Systems Inc., among others.
Scope of the Global Computer Assisted Coding Market
Global Computer Assisted Coding Market By Product & Service:
Computer-assisted coding solutions
Computer-assisted coding services
Global Computer Assisted Coding Market By Mode of Delivery:
Global Computer Assisted Coding Market By Application:
Clinical Coding Audit
Global Computer Assisted Coding Market By End User:
Global Computer Assisted Coding Market By Region:
The Middle East and Africa
Key Player analysed in the Global Computer Assisted Coding Market:
QuadraMed Affinity Corporation
Artificial Medical Intelligence Inc.
MModal IP LLC
Nuance Communications Inc.
Dolbey Systems Inc.