Summary

The computer assisted coding market is expected to grow at a strong CAGR of around 11% during the forecast period owing to the increasing adoption to comply with regulatory requirements, such as ICD-10 coding standards. Moreover, with increasing awareness about the need and benefits of computer assisted coding (CAC) technology, the growing implementation of electronic health records (EHR) systems has increased globally. In addition, the adoption of EHRs has increased the amount of data to be processed, stored, and managed, which has increased the demand for CAC solutions. CAC solutions can help healthcare providers manage the large amounts of data generated by EHRs more efficiently and accurately. Additionally, the rising investments and product launches to develop in the computer assisted coding market are further contributing to the growth of the market. For instance, in April 2021, 3M introduced a new technology platform that enables healthcare providers and payers to prioritize care and allocate resources to high-risk individuals and patient groups.

Some of the major players operating in the market include 3M, Optum Inc., Nuance Communications Inc., Oracle, Dolbey Systems, Inc., The Craneware Group, Artificial Medical Intelligence, TruCode LLC, Streamline Healthcare Solutions, PCS. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report
“Amongst mode of delivery, web-based solutions segment held a dominating share of the market in 2021”
Based on the mode of delivery, the market is segmented into web-based solutions, on-premises solutions, and cloud-based solutions. Amongst these, the web-based solutions segment held a dominating share of the market in 2021. This is mainly due to the increasing adoption of cloud-based technologies and the need for greater flexibility and scalability. In addition, this can be accessed from any place which makes them supreme for healthcare providers with multiple locations or remote staff.

“Amongst application, the management reporting & analytics is expected to grow with a significant CAGR during the forecast period”
By application, the market is segmented into automated computer-assisted encoding, management reporting & analytics, and clinical coding auditing. Among these, management reporting & analytics are expected to grow with a significant CAGR during the forecast period. This is mainly attributed to the growing demand for real-time insights and visibility into coding data, and the need to comply with regulatory requirements related to coding and billing for management reporting and analytics purposes.

“North America dominated the computer assisted coding market in 2021”
North America dominated the computer-assisted coding market in 2021 due to the high investments in healthcare by the private sector and government. Considering the rapid growth prospects of the region in every aspect, growth is mainly attributed to the rising investment by governments and private sector organizations in the development and deployment of healthcare technologies. For instance, in April 2021, Cerner Corporation announced that it has acquired Kantar Health, for USD 375 million in cash, subject to adjustment. Therefore, the growing demand for CAC solutions that can improve the accuracy and efficiency of clinical data coding in hospitals and compliance with regulatory requirements related to coding and billing.

Reasons to buy this report:
• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

Customization Options:
The global computer assisted coding market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

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