The global computer-assisted coding market is anticipated to grow at a CAGR of 10.8% during the forecast period (2022-2028). Increased use of electronic health record systems, increased use of computer-assisted coding solutions to reduce rising complexity and increase productivity, and increased regulatory requirements for patient data management are some of the reasons driving market expansion. Both public and commercial organizations are working to strengthen the healthcare infrastructure and expand insurance reimbursement policies. The computer-assisted coding (CAC) systems industry is growing due to the increased usage of CAC solutions to lower rising healthcare expenditures by the population.
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For document processing, computer-assisted coding software uses structured input or natural language processing (NLP) technologies. This aids the administrative person’s or coder’s productivity by lowering procedure time. Computer-assisted coding software also aids in the reduction of errors and the improvement of healthcare facility efficiency. Billing people, compliance officials, and auditors can use it to verify documents in the healthcare industry. Computer-assisted coding software is now available in cloud-based and on-premise versions, depending on the needs of the institution.
The impact of the COVID-19 pandemic on the global computer-assisted coding market is positive, owing to the rising adoption of innovative solutions to lower operating costs and a greater focus on patient care management. Computer-assisted coding is being used by many healthcare organizations across the globe. Cloud-based solutions are a newer option that is usually employed by companies that do not have the necessary internal infrastructure to support them. These systems have a cheaper installation cost. This software eliminates the need for in-house maintenance, which is likely the primary driver of its rising popularity.
Some major players in the market are 3M, Artificial Medical Intelligence, Inc., Cerner Corp., Optum Inc., and TruCode LLC, among others. The market players are contributing significantly to the growth of the market by the adoption of various strategies including mergers & acquisitions, geographical expansion, partnerships and collaborations, and new product launches, to stay competitive in the market.
Company’s Product Portfolio
- Artificial Medical Intelligence, Inc. offers EMscribe technology, which has been shown to improve the effort of the Revenue Cycle team by lowering DNFBs, boosting “Cash On Hand,” and maximizing accuracy, allowing audits to be conducted with the least amount of evasion possible.
- Cerner Corp. offers its Health Information Management solutions, which enables companies to electronically monitor, support, and manage all forms of health information for a comprehensive, secure medical record.
Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Product & Services
- By Mode of Delivery
- By Application
- By End-User
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape- 3M, Artificial Medical Intelligence, Inc., Cerner Corp., Optum Inc., TruCode LLC, among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Computer-Assisted Coding Market Report by Segment
By Product & Service
- Standalone Software
- Integrated Software
- Support & Maintenance Services
By Mode of Delivery
- Web-Based
- Cloud-Based
- On-Premises
By Application
- Automated Computer-Assisted Encoding
- Management Reporting & Analytics
- Clinical Code Auditing
By End-User
- Hospitals
- Clinics
- Laboratories & Diagnostic Center
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