The global Computer Assisted Coding Market is forecast to reach USD 8.18 Billion by 2027, according to a new report by Reports and Data. The market is witnessing an increase in demand owing to its growing adoption of the electronic health record (EHR) in the healthcare sectors. They are used for insurance claims reimbursement and the implementation of the ICD-10 coding in the industry. ICD-10 includes a number of codes for abnormal findings, complaints, diseases, causes of injury, symptoms, and social circumstances. The computer-assisted software maintains this coding database, which may positively enhance the computer-assisted coding market in the future.
A computer-assisted coding system is a software that analyzes all the healthcare documents and produces a suitable medical code for specific phrases and terms within the document. Implementation of electronic health records has helped improve the system by making it less error-prone and generating more accurate results. These factors have helped the market growth in recent times. However, the lack of skilled professionals and the high cost of maintenance for system support has been restraining market growth.
Europe is the major contributor to the growth of the economy, with Germany contributing the major share in the next 5-6 years. The focus of the European government to advance healthcare will propel the region’s demand for computer-assisted coding.
Key participants include 3M, Cerner Corporation, Optum, Inc., Mckesson Corporation, Nuance Communications, Inc., Artificial Medical Intelligence, Inc., Athenahealth, Inc., Craneware PLC, Dolbey Systems, Inc., and Streamline Health Solutions, Inc., among others.
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The COVID-19 impact: The market is deeply affected by the growing pandemic of COVID-19. The sales of the software will witness a slight dent in the coming months, but as the economy restores itself, the market is expected to invigorate as a lot of healthcare companies and organizations will invest in software to track its records and reduce errors. The investment in the healthcare sector by private firms will also encourage the sales of the market product.
For the purpose of this report, Reports and Data have segmented the global Computer Assisted Coding Market on the basis of component, mode of delivery, application, end-users, and region:
Component Outlook (Revenue, USD Billion; 2017-2027)
Mode of Delivery Outlook (Revenue, USD Billion; 2017-2027)
Application Outlook (Revenue, USD Billion; 2017-2027)
End Users Outlook (Revenue, USD Billion; 2017-2027)
Regional Outlook (Revenue, USD Billion; 2017-2027)
Further key findings from the report suggest
Table of Content:
Chapter 1. Market Synopsis 1.1. Market Definition 1.2. Research Scope & Premise 1.3. Methodology 1.4. Market Estimation Technique Chapter 2. Executive Summary 2.1. Summary Snapshot, 2019-2027 Chapter 3. Indicative Metrics Chapter 4. Computer Assisted Coding Market Segmentation & Impact Analysis 4.1. Computer Assisted Coding Market Material Segmentation Analysis 4.2. Industrial Outlook 4.2.1. Market indicators analysis 4.2.2. Market drivers analysis 4.2.2.1. Increased use of CAC solutions to curtail the high costs of healthcare 4.2.2.2. Implementation of HER system 4.2.3. Market restraints analysis 4.2.3.1. High maintenance cost 4.3. Technological Insights 4.4. Regulatory Framework 4.5. ETOP Analysis 4.6. Porter’s Five Forces Analysis
Continued…
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