Computer Assisted Coding Market - Global Industry Analysis

Computer Assisted Coding Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020-2026.

Category: Technology & Media Report Format : PDF Report Code: ZMR-1140 Status : Upcoming

Description

Global Computer Assisted Coding Market: Overview

A computer assisted coding (CAC) is software that evaluates healthcare records and generates appropriate medical codes for specific terms within the record. CAC electronically recognizes important terms within the clinical record to generate the appropriate code which is needed for billing statements. A CAC also improves coder accuracy & productivity and lessens the time to generate bills and ultimately the claims which help healthcare organizations to save extra spending. With such benefits, several organizations are implementing CAC to improve efficiencies.

Report Scope:

Report Attribute Details
Base Year 2020
Historic Years 2016 - 2020
Forecast Years 2021 - 2028
Segments Covered By Product Type, By Application, and By End Use
Forecast Units Value (USD Billion), and Volume (Units)
Quantitative Units Revenue in USD million/billion and CAGR from 2021 to 2028
Regions Covered North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World
Countries Covered U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others
Number of Companies Covered 10 companies with scope for including additional 15 companies upon request
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.
Customization Scope Avail customized purchase options to meet your exact research needs.

Global Computer Assisted Coding Market: Growth Factor

The global computer assisted coding market is growing at a rapid pace. Some of the factors contributing to the growth of the market include the rising implementations of CAC within the global healthcare system to shorten healthcare costs, rising application of electronic health record (EHS) systems in healthcare systems, advancement in coding accuracy, growing need for revenue cycle management procedures, and increasing regulatory need for patient clinical data management. Implementation of EHS in healthcare organizations has a positive impact on the growth of the global computer assisted coding market, as the clinical data collected by EHS systems in digital form can help CAC systems to work more efficiently. Furthermore, increasing preferences for cloud-based data storage solutions, untapped developing economies and advancement in CAC solution will provide better growth opportunities to the market. On the other side, the unwillingness of healthcare organizations in low or middle-income countries to adopt CAC solutions, cost, and workflow challenges may hinder the growth of the market.

COVID-19 pandemic is observed to have a positive impact on global computer assisted coding market.  The global computer assisted coding market in the current pandemic situation is growing at a healthy rate. Main factors contributing to the growth of the market include growing focus on patient care management and adoption of advanced solutions to reduce the operational cost. Many healthcare organizations around the world are implementing CAC & the growth in adoption of these systems can be seen in the post-COVID-19 impact.

Global Computer Assisted Coding Market: Segmentation

The global computer assisted coding market is segmented based on product & service, mode of delivery, applications, end-user, and region. Based on products and services, the global computer assisted coding market is bifurcated into computer-assisted coding solutions and computer-assisted coding services. Among these, computer-assisted coding services segment is expected to register a high CAGR over the forecast period. The global computer assisted coding market based on the mode of delivery, is bifurcated into on-premises, web-based, and cloud-based. The cloud-based segment is expected to register a high growth rate over the forecast period. Based on the application, the global computer assisted coding market is split into clinical code auditing, management reporting & analytics, and automated computer-assisted encoding. Based on end-users, the market is divided into payers, provides, and other healthcare organizations.

Global Computer Assisted Coding Market: Regional Analysis

North America is anticipated to dominate the global computer assisted coding market. Some of the key factors contributing to the growth of computer assisted coding market in this region include the transition from ICD-9 to ICD-10, increasing demand for CAC solutions, well-established healthcare infrastructure, and the presence of major players. Asia Pacific is expected to register the highest CAGR over the forecast period. Factors such as the presence of healthcare policies in place, developing healthcare infrastructure, adoption of advanced healthcare solutions, large patient pool, and rising interest of key players in this region is fueling the growth of the computer assisted coding market.

Global Computer Assisted Coding Market: Competitive Players

The key players operating in the global computer assisted coding market include Nuance Communications, 3M Health Information Systems, McKesson Corporation, Optum, Cerner Corporation, TruCode, Precyse Solutions, Craneware, Dolbey Systems, and Artificial Medical Intelligence.

Global Computer Assisted Coding Market: Regional Segment Analysis

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

What Reports Provides

  • Full in-depth analysis of the parent market
  • Important changes in market dynamics
  • Segmentation details of the market
  • Former, on-going, and projected market analysis in terms of volume and value
  • Assessment of niche industry developments
  • Market share analysis
  • Key strategies of major players
  • Emerging segments and regional markets
  • Testimonials to companies in order to fortify their foothold in the market.

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