Computer Assisted Coding Market Growth Analysis With Investment Opportunities
Computer Assisted Coding Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company's Computer Assisted Coding Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
LANDON, GREATER LANDON, UK, July 12, 2024 /EINPresswire.com/ -- The computer assisted coding market has experienced robust growth in recent years, expanding from $5.11 billion in 2023 to $5.77 billion in 2024 at a compound annual growth rate (CAGR) of 13.1%. The growth in the historic period can be attributed to data explosion, regulatory compliance, business intelligence demand, customer experience enhancement, cost reduction and efficiency, increased awareness and education.
Strong Future Growth Anticipated
The computer assisted coding market is projected to continue its strong growth, reaching $9.26 billion in 2028 at a compound annual growth rate (CAGR) of 12.5%. The growth in the forecast period can be attributed to ai and ml integration, predictive analytics demand, cross-industry adoption, enhanced security measures, real-time analytics.
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Growth Driver Of The Computer Assisted Coding Market
The increasing adoption of electronic health records (EHR) is expected to fuel the growth of the computer-assisted coding market going forward. Electronic health records (EHRs) are digital versions of patients' paper charts that systematically collect health information in a computerized format. Computer-assisted coding (CAC) enhances the efficiency and accuracy of electronic health records by automating the extraction and assignment of medical codes from clinical documentation.
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Major Players And Market Trends
Key players in the computer assisted coding market include UnitedHealth Group Inc., McKesson Corporation, Microsoft Corporation, Oracle Corporation, 3M Company, GE HealthCare Technologies Inc., Epic Systems Corporation, Athenahealth Inc., Cerner Corporation, FinThrive Revenue Systems LLC, eClinicalWorks, NextGen Healthcare Inc., Medical Information Technology Inc., Computer Programs and Systems Inc., Availity LLC, Craneware PLC, AGS Health, CareCloud Inc., ezDI Inc., Streamline Health Solutions Inc., ZyDoc Corporation, Codifyd Inc., Dolbey Systems Inc., Alpha II LLC, M-Scribe Technologies LLC, ChartWise Medical Systems Inc., Saince Inc., Talix Inc., Apervita Inc., Artificial Medical Intelligence Inc..
Major companies operating in the computer-assisted coding market are focused on developing innovative products with advanced technologies, such as integration with natural language processing (NLP) technology, to provide reliable services to customers. Natural Language Processing (NLP) in computer-assisted coding analyzes medical documentation to extract relevant information for efficient and accurate medical coding.
Segments:
1) By Product: Software, Services
2) By Mode of Delivery: Web And Cloud Based, On-Premises
3) By Application: Automated Computer-Assisted Encoding, Management Reporting And Analytics, Clinical Coding Auditing
4) By End User: Hospitals, Physicians, Academic Medical Centers, Clinical Labs And Diagnosis Centers, Other Healthcare Providers
Geographical Insights: North America Leading The Market
North America was the largest region in the computer assisted coding market in 2023. Asia-Pacific is expected to be the fastest-growing region during the forecast period, driven by expanding healthcare facilities and increasing awareness of the benefits of computer assisted coding.
Computer Assisted Coding Market Definition
Computer-assisted coding (CAC) is a technology that employs advanced algorithms to automatically read and interpret clinical documentation and then generate appropriate medical codes for specific phrases and terms within the document. This technology supports healthcare providers by enhancing the speed and accuracy of medical coding, which is crucial for billing and insurance purposes.
Computer Assisted Coding Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Computer Assisted Coding Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on computer assisted coding market size, computer assisted coding market drivers and trends, computer assisted coding market major players, computer assisted coding competitors' revenues, computer assisted coding market positioning, and computer assisted coding market growth across geographies. The computer assisted coding market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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