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(IT-NEWSWIRE.COM, February 02, 2019 ) According to the new market research report "Computer Assisted Coding Market by Software (Natural Language Processing, Structured Input, Integrated Systems), Service (Support, Education & Training), Application (Automated Encoding, Clinical Coding Audit, Management Reporting) - Global Forecast to 2022", published by MarketsandMarkets™, The global computer-assisted coding market is valued at USD 2.76 Billion in 2017 and is expected to register a CAGR of 11.5% to reach to USD 4.75 Billion by 2022.
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The global computer-assisted coding market is projected to reach USD 4.75 billion by 2022 at a CAGR of 11.5% during the forecast period. The growth of the market can be attributed to the transition to ICD-10 coding standards from ICD-9 in North America, the rising demand for CAC solutions, the growing need within the global healthcare system to curtail increasing healthcare costs, improve coding accuracy, and streamline the revenue cycle management procedures. However, high implementation and maintenance expenses for computer-assisted coding and lack of IT professionals in the healthcare industry are likely to hinder the growth of the computer-assisted coding market to some extent.
Based on application, the market is categorized into three types—automated computer-assisted encoding, management reporting and analytics, and clinical code auditing. The automated computer-assisted encoding segment is expected to register the highest CAGR during the forecast period. This growth can be attributed to usage benefits such as the improvement in the quality of clinical-coded diagnosis and procedures encoding productivity of coders while ensuring better revenue capture through coding, decreased coding variability, and efficient problem documentation for quick review and maximization of the return on investment.
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The major end users of computer-assisted coding are healthcare providers and healthcare payers. The providers are further segmented into hospitals, physicians’ practices, clinical laboratories, academic medical centers, and other healthcare institutions. In 2016, the providers dominated the global computer-assisted coding market. This is primarily attributed to the significant demand for CAC solutions among hospitals and physicians/clinics for improving data accuracy and productivity, maximize hospital revenue by minimizing coding errors, and shortening the claims reimbursement cycle.
In 2016, 3M Company (U.S.) and Optum, Inc. (U.S.) dominated the global computer-assisted coding market. Some of the prominent players in the market are Nuance Communications, Inc. (U.S.), Cerner Corporation (U.S.) and Artificial Medical Intelligence, Inc. (U.S.). Some of the other leading players in this market are Dolbey Systems, Inc. (U.S.), Precyse Solutions, LLC (U.S.), Craneware plc (U.K.), McKesson Corporation (U.S.), athenahealth, Inc. (U.S.), Streamline Health Solutions, Inc. (U.S.), MMODAL IP LLC (M*Modal) (U.S.), TruCode (U.S.), Quest Diagnostics Inc. (U.S.), and Epic Systems Corporation(U.S.).
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MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
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MarketsandMarkets
Mr. Shelly Singh
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sales@marketsandmarkets.com
Source: EmailWire.Com 
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