Global Computer Assisted Coding Market, By Product (Software, Services), Mode of Delivery (Web-Based Solutions, On-Premise Solutions, Cloud-Based Solutions), Application (Automated Computer-Assisted Encoding, Management Reporting and Analytics, Clinical Coding Auditing), End User (Hospitals, Physician Practices, Academic Medical Centers, Clinical Laboratories and Diagnostic Centers, Other), Country (U.S., Canada, Mexico, Germany, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia- Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, UAE, Egypt, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2029
Market Analysis and Insights Global Computer Assisted Coding Market
Data Bridge Market Research analyses that the computer assisted coding market to be grow at a CAGR of 11.95% in the forecast period of 2022-2029 and is likely to reach the USD 10,212.4 million by 2029.
A computer assisted coding system is software that analyses health-care records and generates a specific keyword for specified phrases and terms. These keywords offered by (CACS) can assist in increasing productivity and lowering the administrative person's processing time. The major goal of computer-assisted coding software is to reduce errors and increase the efficiency of the healthcare facility. Software, structured input software, standalone software, services, integrated software, support and maintenance, and education and training are some of the products and services provided by computer-assisted coding. It's employed in things like automated computer-assisted coding, management reporting and analytics, and clinical coding auditing.
The increased use of EHR systems will act as major driver accelerating the computer assisted coding market’s growth rate. Another significant factor resulting in the expansion of market is the greater use of computer assisted coding (CAC) solutions to reduce rising healthcare costs. Furthermore, increased regulatory requirements for patient data management and rising focus on physician computer-assisted coding in outpatient settings are the major drivers that will enhance the growth of market. Furthermore, commercial and public organizations are rolling back rapid improvements in global healthcare infrastructure and rising insurance reimbursement policies. These tend to minimize the population's ever-increasing healthcare expenditures, which is stimulating the demand for computer-assisted coding systems. Growing healthcare infrastructure and rise in the level of disposable incomes in developing and developed countries will influence the growth rate of computer assisted coding market. The upsurge in the demand for automation is being driven by the need to manage a large number of codes in the ICD-10 system and this will further cushion the market’s growth rate.
Moreover, increasing usage of cloud-based solutions and technological advancement will provide beneficial opportunities for the computer assisted coding market growth. Additionally, the rising people's preferences for cloud-based data storage solutions and untapped developing economies will further expand the computer assisted coding market’s growth rate in the future.
On the other hand, high setup costs for on-site CAC support and a lack of domain expertise are factors that will obstruct the market growth. Also, healthcare providers' reluctance to use CAC solutions in emerging markets will challenge the computer assisted coding market. However, rising consolidation in the market will act as restrain and further impede the growth rate of market.
This computer assisted coding market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on computer assisted coding market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Computer Assisted Coding Market Scope and Market Size
The computer assisted coding market is segmented on the basis of product, mode of delivery, application and end user. The growth amongst these segments will help you analyse meagre growth segments in the industries, and provide the users with valuable market overview and market insights to help them in making strategic decisions for identification of core market applications.
- Based on product, the computer assisted coding market is segmented into software and services. Software segment is further sub-segmented into standalone software and integrated software. Standalone software is divided into natural language processing software and structured input software. Services segment is further sub-segmented into support and maintenance and education and training.
- On the basis of mode of delivery, the computer assisted coding market is segmented into web-based solutions, on-premise solutions and cloud-based solutions.
- Based on application, the computer assisted coding market is segmented into automated computer-assisted encoding, management reporting and analytics and clinical coding auditing.
- Computer assisted coding market is also segmented based on the end user into hospitals, physician practices, academic medical centers, clinical laboratories and diagnostic centers and other..
Computer Assisted Coding Market Country Level Analysis
The computer assisted coding market is analysed and market size insights and trends are provided by country, product, mode of delivery, application and end user as referenced above.
The countries covered in the computer assisted coding market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the computer assisted coding market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period. This is due to the upsurge in the adoption of patient-centric approach by healthcare players and favourable government funding policies as well as initiatives for implementing healthcare IT solutions in this region. Asia-Pacific on the other hand is projected to exhibit the highest growth rate during the forecast period due to the enhancement of healthcare infrastructure and growing economies in this region.
The country section of the computer assisted coding market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure growth Installed base and New Technology Penetration
The computer assisted coding market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for computer assisted coding market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the computer assisted coding market. The data is available for historic period 2010 to 2020.
Competitive Landscape and Global Computer Assisted Coding Market Share Analysis
The computer assisted coding market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to computer assisted coding market.
Some of the major players operating in the computer assisted coding market are 3M, Optum Inc., Nuance Communications, Inc., McKesson Corporation, Cerner Corporation, Dolbey, Craneware, Inc., Artificial Medical Intelligence, TruCode LLC, Streamline Healthcare Solutions, LLC, Epic Systems Corporation, athenahealth, Inc., M-Scribe, Coding Strategies, Inc., ID Information und Dokumentation im Gesundheitswesen GmbH & Co. KGaA, nThrive Revenue Systems, LLC, Quest Diagnostics Incorporated., EZDI, Inc., iMedX Information Services Pvt Ltd., ZyDoc Medical Transcription, LLC, Revele and One Voice Data, among others.
Customization Available : Global Computer Assisted Coding Market
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