Computer Assisted Coding Market Overview:
The Computer Assisted Coding Market analysis provides a full insight into the competition, including the market share and company profiles of the key worldwide rivals. The scope of the research covers a thorough investigation of the Computer Assisted Coding Market, as well as the causes for variances in the industry’s growth in different regions.
The Computer Assisted Coding Market size is expected to reach nearly US $ 6.58 Bn by 2029 with the CAGR of 11.5% during the forecast period.
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Following the completion of market engineering, which comprised market statistics calculations, estimations of market size, market projections, market breakdown, and data triangulation, major primary research was conducted to obtain information and verify and validate critical numbers. Top-down and bottom-up strategies, as well as several data triangulation procedures, were often used throughout the market engineering process to perform market estimating and forecasting for the overall market segments and sub-segments discussed in this research. In order to give vital information throughout the report, extensive qualitative and quantitative analysis is done on all data gathered throughout the market engineering process.
Segmentation:
by Product
• Computer-assisted coding solutions
• Computer-assisted coding services
The Computer Assisted Coding Market is dominated by computer-assisted coding solutions in terms of product and service segments. Software that is independent and integrated are separated under the solutions category. Natural language processing software and structured input software are the two types of standalone computer-assisted coding software that are taken into consideration. Support & maintenance and education & training services make up the services segment. The market for computer-assisted coding was dominated by the segment that offers coding solutions. The necessity of switching from ICD-9 to ICD-10 coding standards can be blamed for the vast portion.
by Mode of Delivery
•Web-based
• Cloud-based
• On Premises
The Cloud-based delivery segment dominates the market for computer assisted coding in terms of mode of distribution. The market for computer-assisted coding was controlled by the cloud-based solutions segment. This expansion may be attributed to the advantages of its adaptable, scalable, and cost-effective nature, as well as the added benefit of a private cloud for the client in addition to a public cloud server and simple information access for users operating in various time zones and regions.
by Application
• Automated Encoding
• Clinical Coding Audit
• Management Reporting
Automated Encoding is a significant application category in the market for computer assisted coding. The market can be divided into three categories based on application: clinical code audits, management reporting and analytics, and automated computer-assisted encoding. The application for automated computer-assisted encoding is anticipated to experience the largest CAGR growth over the forecast period. This can be attributed to the processing of more patient data and coding, as well as the growing use of electronic health records.
by End-User
• Payers
• Providers
In the market for computer assisted coding, providers dominate the end-user segment. Hospitals, doctors' offices, clinical laboratories, diagnostic centres, academic medical centres, and other healthcare facilities are subdivided into providers. The largest portion of the global market for computer-assisted coding was accounted for by the hospitals sector. The successful implementation and widespread acceptance of computer-assisted coding to reduce healthcare delivery costs while maintaining compliance is principally responsible for the high growth rate of the hospitals market.
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Key Players:
Primary and secondary research is used to identify market leaders, and primary and secondary research is used to calculate market revenue. In-depth interviews with important thought leaders and industry professionals such as experienced front-line staff, CEOs, and marketing executives were conducted as part of the primary study. Primary research comprised in-depth interviews with key thought leaders and industry professionals such as experienced front-line staff, CEOs, and marketing executives, while secondary research included a review of the main manufacturers’ annual and financial reports. Secondary data is used to determine percentage splits, market shares, growth rates, and worldwide market breakdowns, which are then cross-checked with primary data.
• The biggest players in the Computer Assisted Coding Market are as follows:
• 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.
• Dolbey Systems Inc.
• nThrive, Inc.
• Streamline Healthcare Solutions, LLC
• Epic Systems Corporation
• athenahealth, Inc.
• Quest Diagnostics
• M-Scribe, ezDI, Inc.
• Coding Strategies, Inc.
Regional Analysis:
Individual market influencing components and changes in market regulations affecting the present and future market trends are also included in the regional overview of the Computer Assisted Coding Market analysis. Current and future trends are researched in order to assess the entire market potential and identify profitable patterns in order to get a stronger foothold. The geographical market assessment is based on the present environment and expected developments.
COVID-19 Impact Analysis on the Computer Assisted Coding Market:
End-user industries where Computer Assisted Coding Market is utilized saw a dip in growth from January 2020 to May 2020 in a number of countries, including China, Italy, Germany, the United Kingdom, the United States, Spain, France, and India, due to a pause in operations. This resulted in a significant decrease in the revenues of businesses working in these industries and, as a result, in demand for Computer Assisted Coding Market manufacturers, influencing the development of the Computer Assisted Coding Market in 2020. End-user business demand for Computer Assisted Coding Market has declined significantly as a result of lockdowns and an increase in COVID-19 events worldwide.
Key Questions Answered in the Computer Assisted Coding Market Report are:
In 2021, which segment held the highest proportion of the Computer Assisted Coding Market?
What is the Computer Assisted Coding Market’s competitive landscape?
What are the primary drivers assisting the Computer Assisted Coding Market growth?
Which region has the most market share in the Computer Assisted Coding Market?
What will be the Computer Assisted Coding Market’s CAGR throughout the projected period?
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