Isle Of Man, Nov. 15, 2022 (GLOBE NEWSWIRE) -- The Douglas Insights Comparison Engine has added computer-assisted coding market research reports to its collection of public and private market research reports. Using the newly upgraded comparison engine, businesses, market researchers, economists, and other interested parties can efficiently select research reports based on report length, purchase cost, publisher name, and table of contents. The market research reports on computer-assisted coding include essential market-related information, such as market trends, growth factors, market restraints, potentials, and leading geographical regions.
Computer-assisted coding is a software-based service provided to medical facilities for generating accurate medical codes. The software takes medical records and documentation as input and converts them into applicable medical codes for effective reporting. With the help of CAC software, healthcare service providers can streamline their coding process and make medical reports easily accessible with quality metrics in place.
Market Drivers
The increased use of Electronic Health Records (EHR) in various medical settings has facilitated the transfer of patient information. The use of CAC for such records is a major market growth driver for CAC. In addition, numerous regulatory requirements have been incorporated into the healthcare system to ensure the security of patient data. Using CAC systems to manage data in medical settings ensures data security, making it an all-encompassing solution for the entire healthcare system.
The high costs associated with deploying such systems throughout the healthcare system are likely to be a significant factor impeding the growth of the CAC market. Major corporations are working on the issue of research and development of better systems, but cost reduction could significantly impede their expansion. In addition, a lack of trained and qualified personnel is an issue that must be addressed during the deployment process, as the misuse of CAC may lead to additional cyber issues.
The healthcare service providers' reluctance to adopt the CAC system may present an impediment during the deployment of CAC. Numerous healthcare services that rely on conventional practices and have insufficient personnel may choose not to digitalize their systems.
Despite obstacles and potential growth impeding factors, the CAC market is expected to grow during the forecast period due to innovative solutions and ongoing research into Natural Language Processing-enabled CAC solutions (NLP).
Multiple factors, including the digitization of the healthcare industry, are driving the global CAC market's expansion. The market is segmented by application, end-user type, product, region, and delivery method. Numerous application and product types effectively diversify the market so that diverse end-users, such as physicians, hospitals, clinical laboratories, etc., can access unique solutions across the globe.
Nonetheless, North America dominates the market due to the presence of numerous industry titans in the coding sector. These regions are likely to produce innovative healthcare solutions, which will contribute to expanding the CAC market in these regions. Despite that, the Asia Pacific region is also expected to significantly contribute to the CAC market growth as the demand for coding in the healthcare sector and the usage of EHRs increase.
Key players
Companies such as Dolbey Systems Inc., Streamline Healthcare Solutions, McKesson Corporation, and Craneware, Inc. are set to contribute significantly to CAC market growth. Nuance Communications, Inc., TruCode LLC, Cerner Corporation, 3M Inc., Artificial Medical Intelligence and Optum Inc. are also expected to introduce new market trends during the forecast period.
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Computer-Assisted Coding Market Report Coverage
| Report Attributes | Details |
| Market Size in 2018 | US$** Bn |
| Market Size Projection in 2028 | $** BN |
| CAGR (2018-2028) | ** % |
| Largest Market | North America |
| Growth Drivers | Increased use of Electronic Health Records (EHR), Numerous regulatory requirements into the healthcare system to assure patient data security |
| Segmentation | By Product (Software, Services), By Mode Of Delivery (Web-Based Solutions, On-Premises Solutions, Cloud-Based Solutions), By Application (Automated Computer-Assisted Encoding, Management Reporting And Analytics, Clinical Coding Auditing), By End User (Hospitals, Physician Practices, Academic Medical Centers, Clinical Laboratories And Diagnostic Centers, Other) |
| Regional Analysis | North America (US, Canada), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Europe (U.K, Germany, Italy, France, Spain, Russia and Rest of Europe), APAC (China, Japan, India, South Korea, Australia, ASEAN and Rest of Asia Pacific), ME (GCC Countries, Israel, and Rest of Middle East) & Africa (South Africa, North Africa and Central Africa) |
| Key Companies Covered | Dolbey Systems Inc., Streamline Healthcare Solutions, McKesson Corporation, and Craneware, Inc. are set to contribute significantly to CAC market growth. Nuance Communications, Inc., TruCode LLC, Cerner Corporation, 3M Inc., Artificial Medical Intelligence and Optum Inc |
Segmentations
By Product
- Software
- Services
By Mode Of Delivery
- Web-Based Solutions
- On-Premises Solutions,
- Cloud-Based Solutions
By Application
- Automated Computer-Assisted Encoding,
- Management Reporting And Analytics,
- Clinical Coding Auditing
By End User
- Hospitals,
- Physician Practices,
- Academic Medical Centers,
- Clinical Laboratories And Diagnostic Centers,
- Other
Key questions answered in this report
- COVID 19 impact analysis on global Computer-Assisted Coding industry.
- What are the current market trends and dynamics in the Computer-Assisted Coding market and valuable opportunities for emerging players?
- What is driving Computer-Assisted Coding market?
- What are the key challenges to market growth?
- Which segment accounts for the fastest CAGR during the forecast period?
- Which product type segment holds a larger market share and why?
- Are low and middle-income economies investing in the Computer-Assisted Coding market?
- Key growth pockets on the basis of regions, types, applications, and end-users
- What is the market trend and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
Unique data points of this report
- Statistics on Computer-Assisted Coding and spending worldwide
- Recent trends across different regions in terms of the adoption of Computer-Assisted Coding across industries
- Notable developments going on in the industry
- Attractive investment proposition for segments as well as geography
- Comparative scenario for all the segments for years 2018 (actual) and 2028 (forecast)
Table of Content:
Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2028 (USD Million)
1.2.1. Global Computer Assisted Coding Market, by Region, 2020-2028 (USD Million)
1.2.2. Global Computer Assisted Coding Market, by Product, 2020-2028 (USD Million)
1.2.3. Global Computer Assisted Coding Market, by Mode of Delivery, 2020-2028 (USD Million)
1.2.4. Global Computer Assisted Coding Market, by Application, 2020-2028 (USD Million)
1.2.5. Global Computer Assisted Coding Market, by End User, 2020-2028 (USD Million)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Computer Assisted Coding Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Computer Assisted Coding Market Dynamics
3.1. Computer Assisted Coding Market Impact Analysis (2020-2028)
3.1.1. Market Drivers
3.1.1.1. Increasing usage of electronic health record (EHR) Systems.
3.1.1.2. Growing adoption of computer assisted coding (CAC) solutions.
3.1.1.3. Surging focus towards patient data management.
3.1.2. Market Challenges
3.1.2.1. High deployment cost pertaining to on premises solutions.
3.1.2.2. Dearth of required professional expertise.
3.1.3. Market Opportunities
3.1.3.1. Growing usage of cloud-based solutions in healthcare.
3.1.3.2. Rising healthcare infrastructure in emerging economies.
Chapter 4. Global Computer Assisted Coding Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter’s 5 Force Model (2018-2028)
4.2. PEST Analysis
4.2.1. Political
4.2.2. Economical
4.2.3. Social
4.2.4. Technological
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion
4.5. Top investment opportunity
4.6. Top winning strategies
Chapter 5. Risk Assessment: COVID-19 Impact
5.1.1. Assessment of the overall impact of COVID-19 on the industry
5.1.2. Pre COVID-19 and post COVID-19 Market scenario
Chapter 6. Global Computer Assisted Coding Market, by Product
6.1. Market Snapshot
6.2. Global Computer Assisted Coding Market by Product, Performance - Potential Analysis
6.3. Global Computer Assisted Coding Market Estimates & Forecasts by Product 2018-2028 (USD Million)
6.4. Computer Assisted Coding Market, Sub Segment Analysis
6.4.1. Software
6.4.2. Services
…………….. ToC continued
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