0
Upcoming Allied Market Research
2023
Computer Assisted Coding Market

Computer Assisted Coding Market

by Product (CAC Software, CAC Services), by Application (Automated Computer-Assisted Encoding, Management Reporting and Analytics, Clinical Coding Auditing), by Mode of deployment (On-premises, Web and cloud based) and by End Users (Hospitals, Clinical Laboratories, Diagnostic Centers, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032

Report Code: A08194
Pages: NA
Jul 2023 | 1552 Views
Author(s) : NA
Tables: NA
Charts: NA
  • Formats*:

  • pdf

    Single User License, Five User
    License & Enterprise User License

  • xls

    Data Pack Excel License

  • ppt

    It comes with the additional cost
    of $2500.00 contact sales.

 

COVID-19

Pandemic disrupted the entire world and affected many industries.

Get detailed COVID-19 impact analysis on the Computer Assisted Coding Market

Request Now !

Healthcare organizations store massive amount of data including patient’s personal data, clinical data and treatment history and are stored in the form of documents and records. These documents are managed by the administrative staff and the data is required while billing and discharge of patients. The collection, storage, management and retrieval of this recorded data is a complicated and tedious procedure. However, due to the technological progression and introduction on integrated IT-enabled systems in the healthcare sector, these medical records are now being stored in digital format as electronic documents in computers. The assessment of clinical data from all the data available still remains a time-consuming task for the administrative staff. Henceforth, to aid in such tasks, computer-assisted coding (CAC) systems aims to resolve this issue by scanning and analyzing electronic documents and medical data by using specific keywords. These keywords are analyzed and recognized by comparing data with the available datasets. Natural language processing (NLP) technology or structured inputs for analyzing the documents. Computer assisted coding software helps to improve efficiency, reduce degree of errors and simplify the tedious work of administrative staff. 

Computer-Assisted-Coding

COVID – 19 scenario analysis:  

  • The COVID-19 pandemic has emerged as a humanitarian as well as economic crisis, creating strain on the society and affecting millions of people and businesses
  • Industry closures and people are asked to stay in their homes which has cause taken a huge toll in terms of money and economic growth
  • Over 4 million people affected globally, with 300 thousand losing their lives due to novel coronavirus
  • Healthcare organizations are already working in battle mode, preparing new plans to respond growing COVID-19 patients, right from sourcing rapid diagnosing kits to sufficient PPE kits for workers
  • Due to diversion of medical field towards treating COVID-19, the funding to R&D activities related to chondroitin sulfate has been reduced and this segment have to face negligence subsequently causing negative impact on computer assisted coding market
  • However, computer assisted coding can be of great importance in this COVID-19 pandemic period as they would help the healthcare authorities, professionals, clinicians and patients by improving efficiency, reduce tedious work and increase productivity 
  • In order to distress the healthcare providers and increase efficiency, governments are planning to implement computer assisted coding across a majority of hospitals providing COVID-19 related healthcare services

Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis

Demand for CAC systems is increasing due to adoption of electronic health records (EHR) by various healthcare services providers. CAC software is used by healthcare facilities considering the application of ICD-10 coding in coming time. These factors are responsible for driving the market growth. 10th revision of International Statistical Classification of Diseases & Related Health Problems (ICD) that is ICD-10 was released by World Health Organization (WHO) which includes a list for a number of codes for abnormal findings, diseases, complaints, symptoms, causes of injury, and social circumstances. CAC systems maintains this ICD-10 coding database which would be the key factor for growth in adoption of CAC software in healthcare facilities worldwide. 

Drivers such as rapid coding outcomes, ease in coding processes, reducing the number of coding errors, minimizing the time consumption in retrieving clinical information from the documents and standardizing the costs of healthcare services by rising population are expected to have positive impact on CAC system market. Progressive steps taken by healthcare organizations like the Medicare and Medicaid Incentive Program in the U.S. for acceptance and implementation of systems like electronic health record in the current healthcare scenario to improve clinical productivity, efficiency. Utilization of such systems would result in low errors in data management and retrieval, rapid results and assistance in billing procedures, thus reducing the tedious work for administrative staff. ICD-10 was implemented in October 2014. This development led to increase in the scope of coding. Comparatively, nearly eight times the codes of ICD 9, were now available for scanning of complex electronic documents with better accuracy. These factors have added to the market growth.

However, higher costs involved in implementation and maintenance of such systems and dearth of skilled professionals in healthcare sector for system support and resolving related issue have been restraining the market growth. Hence, often these services are out sourced by the healthcare facilities.

The unexplored emerging markets, rising awareness and adoption of CAC systems due to numerous benefits in the developing economies and cloud-based solutions would create growth opportunities for the CAC systems market.

Web based services is expected to grow significantly

Web-based delivery network operates on different servers and communicate and connect to each other via internet, virtual private network and other wireless connection via different protocols. It can be accessed entirely through web and hence no prior software installation on the device is required. Entire database and the software can be remotely operated which is one of the main advantages of the web-based computer-assisted coding system. It manages the computer-assisted coding system platform by collecting and standardizing data presented for instant view regarding clinical information of the patient or any other related data. These factors are fuelling the market growth.

North America region to dominate the market 

North America to dominate the computer assisted coding market. The dominance is due to factors like rise in the number of hospitals as well as patient pools, well-developed IT infrastructure to host such systems and higher adoption of technology in the region resulting for higher demand for innovative treatment technologies is propelling the market in the United States. Drastic rise in healthcare expenditure and high strain to achieve better health outputs at lower costs, availability of a well-developed infrastructure and government initiatives regarding the effective usage of EHR, interoperability and high focus on patient care are propelling the market for clinical workflow solutions in the region. For instance, as per EHR intelligence, in August 2018, the U.S. government invested $ 38 billion in healthcare facilities to install EHR systems since 2011.

Key benefits of the report:

  • This study presents the analytical depiction of the global computer assisted coding industry along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global computer assisted coding market share.
  • The current market is quantitatively analysed to highlight the global computer assisted coding market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
  • The report provides a detailed global computer assisted coding market analysis based on competitive intensity and how the competition will take shape in coming years.

Questions answered in the Computer Assisted Coding Market research report:

  • Who are the leading market players active in the computer assisted coding market?
  • What are the current trends that will influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities in the computer assisted coding market?
  • What are the projections for the future that will help in taking further strategic steps?

Computer Assisted Coding Market Report Highlights

Aspects Details
By Product
  • CAC Software
  • CAC Services
By Application
  • Automated Computer-Assisted Encoding
  • Management Reporting and Analytics
  • Clinical Coding Auditing
By Mode of deployment
  • On-premises
  • Web and cloud based
By End Users
  • Hospitals
  • Clinical Laboratories
  • Diagnostic Centers
  • Others
By Region
  • North America  (US, Canada, Mexico)
  • Europe  (France, Germany, UK, Italy, Spain, rest of Europe)
  • Asia-Pacific  (Japan, China, India, Australia, South Korea, rest of Asia-Pacific)
  • LAMEA  (Brazil, South Arabia, South Africa, rest of LAMEA)
Key Market Players Optum Inc., Craneware Inc., McKesson Corporation, TruCode LLC, Cerner Corporation, Dolbey nThrive Inc., 3M, Streamline Healthcare Solutions., Nuance Communications Inc., Artificial Medical Intelligence
 

Loading Table Of Content...


 
 
With collective industry experience of about 200 years of its analysts and experts, Allied Market Research (AMR) encompasses most infallible research methodology for its market intelligence and industry analysis. We do not only engrave the deepest levels of markets but also sneak through its slimmest details for the purpose of our market estimates and forecasts. Our approach helps in building greater market consensus view for size, shape and industry trends within each industry segment. We carefully factor in industry trends and real developments for identifying key growth factors and future course of the market. Our research proceeds are the resultant of high quality data, expert views and analysis and high value independent opinions. Our research process is designed to deliver balanced view of the global markets and allow stakeholders to make informed decisions.

We offer our clients exhaustive research and analysis based on wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics and regional intelligence. Our in-house industry experts play instrumental role in designing analytic tools and models, tailored to the requirements of particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of our recommendations and advice. With AMR’s calibrated research process and 360` degree data-evaluation methodology, our clients are assured of receiving:

  • Consistent, valuable, robust and actionable data & analysis that can easily be referenced for strategic business planning
  • Technologically sophisticated and reliable insights through well audited and veracious research methodology
  • Sovereign research proceeds that present a tangible depiction of marketplace


With a strong methodology we are, therefore, confident that our research and analysis are most reliable and guarantees sound business planning.

Secondary research
We refer a broad array of industry sources for our secondary, which typically include; however, not limited to: Company SEC filings, annual reports, company websites, broker & financial reports and investor presentations for competitive scenario and shape of the industry

  • Patent and regulatory databases for understanding of technical & legal developments
  • Scientific and technical writings for product information and related preemptions
  • Regional government and statistical databases for macro analysis
  • Authentic new articles, web-casts and other related releases for market evaluation
  • Internal and external proprietary databases, key market indicators and relevant press releases for market estimates and forecast


Primary research
Our primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks and face-to-face interactions. We are also in professional corporate relations with various companies that allow us greater flexibility for reaching out industry participants and commentators for interviews and discussions, fulfilling following functions:

  • Validates and improves the data quality and strengthens research proceeds
  • Further develops analyst team’s market understanding and expertise
  • Supplies authentic information about market size, share, growth and forecasts


Our primary research interview and discussion panels are typically composed of most experienced industry members. These participants include; however, not limited to:

  • Chief executives and VPs of leading corporations specific to industry
  • Product and sales managers or country heads; channel partners and top level distributors; banking, investments and valuation experts Key opinion leaders (KOLs)


Analyst tools and models
AMR has developed set of analyst tools and data models to supplement and expedite the analysis process. Corresponding to markets, where there is significant lack of information and estimates, AMR’s team of experts and analyst develop specific analyst tools and industry models to translate qualitative and quantitative industry indicators into exact industry estimates. These models also allow analysts to examine the prospects and opportunities prevailing in the market to accurately forecast the course of the market.

PURCHASE OPTIONS

Call or Email us

U.S.-Canada Toll-free: +1-800-792-5285
Int'l : +1-503-894-6022
Europe : +44-845-528-1300
Email : help@alliedmarketresearch.com

Looking for Customization?

 Customization Request

Have a Question?

 Speak with Analyst

Any Confusion?

 Inquire Before Buying

Have a glance of the Report

  Enquiry Now

Purchase Full Report of
Computer Assisted Coding Market

Start reading.
This Report and over 53,662+ more Reports, Available with Avenue Library. T&C*.

  • Online Only
  • $3,690
  • Online cloud access only
  • Restricted print, copy, paste & download
  • Read only
  • Free industry update
    (Within 180 days)
  • Free report update in next update cycle
  • Data Pack
  • $3,840
  • Restricted to one authorized user
  • One print only
  • Available in
    Excel
  • Free industry update
    (Within 180 days)
  •   Free report update in next update cycle
  • Single User
  • $5,820
  • Restricted to one authorized user
  • One print only
  • Available in
    PDF
  • Free industry update
    (Within 180 days)
  •   Free report update in next update cycle
  • Five Users
  • $6,540
  • Limited to five authorized users
  • Print upto five copies
  • Available in
    PDF
  • Free industry update
    (Within 180 days)
  •   Free report update in next update cycle
  • Enterprise
    License/PDF

  • $9,870
  • Unlimited
    within
    company/enterprise
  • Available in Excel & PDF
  • Free industry update
    (Within 180 days)
  •   Free report update in next update cycle
  • Library
    Membership

  • $999 $ 1,175
    Per User/ Per month/ Billed annually
  • Published Content
    E-access
  • Company Profiles
    E-access
  • Newly Added Content Access
  • 10 PDF
    Downloads
  • 5 Excel Data
    Pack Downloads
  • 250 Company Profiles PDF Downloads
  • Buy Now

*Taxes/Fees, if applicable will be added during checkout. All prices in USD

RELATED REPORTS
 

Why Allied Market Research?

 

Infallible Methodology

To ensure high-level data integrity, accurate analysis, and impeccable forecasts

Analyst Support

For complete satisfaction

Customization

On-demand customization of scope of the report to exactly meet your needs

TARGETED MARKET VIEW

Targeted market view to provide pertinent information and save time of readers

Get fresh content delivered

Get insights on topics that are crucial for your business. Stay abreast of your interest areas.

Get Industry Data Alerts

Why Allied Market Research?

Infallible Methodology

To ensure high-level data integrity, accurate analysis, and impeccable forecasts

Analyst Support

For complete satisfaction

Customization

On-demand customization of scope of the report to exactly meet your needs

TARGETED MARKET VIEW

Targeted market view to provide pertinent information and save time of readers