According to a new report published by Allied Market Research, titled, “Computer Assisted Coding Market: Global Opportunity Analysis and Industry Forecast 2020-2027” Healthcare organizations store massive amount of data including patient’s personal data, clinical data and treatment history and are stored in the form of documents and records. These documents are managed by the administrative staff and the data is required while billing and discharge of patients. The collection, storage, management and retrieval of this recorded data is a complicated and tedious procedure. However, due to the technological progression and introduction on integrated IT-enabled systems in the healthcare sector, these medical records are now being stored in digital format as electronic documents in computers. The assessment of clinical data from all the data available still remains a time-consuming task for the administrative staff. Henceforth, to aid in such tasks, computer-assisted coding (CAC) systems aims to resolve this issue by scanning and analyzing electronic documents and medical data by using specific keywords. These keywords are analyzed and recognized by comparing data with the available datasets. Natural language processing (NLP) technology or structured inputs for analyzing the documents. Computer assisted coding software helps to improve efficiency, reduce degree of errors and simplify the tedious work of administrative staff. 

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐏𝐃𝐅 𝐁𝐨𝐮𝐜𝐡𝐞𝐫:

COVID-19 Scenario Analysis:

  • The COVID-19 pandemic has emerged as a humanitarian as well as economic crisis, creating strain on the society and affecting millions of people and businesses
  • Industry closures and people are asked to stay in their homes which has cause taken a huge toll in terms of money and economic growth
  • Over 4 million people affected globally, with 300 thousand losing their lives due to novel coronavirus
  • Healthcare organizations are already working in battle mode, preparing new plans to respond growing COVID-19 patients, right from sourcing rapid diagnosing kits to sufficient PPE kits for workers
  • Due to diversion of medical field towards treating COVID-19, the funding to R&D activities related to chondroitin sulfate has been reduced and this segment have to face negligence subsequently causing negative impact on computer assisted coding market
  • However, computer assisted coding can be of great importance in this COVID-19 pandemic period as they would help the healthcare authorities, professionals, clinicians and patients by improving efficiency, reduce tedious work and increase productivity 
  • In order to distress the healthcare providers and increase efficiency, governments are planning to implement computer assisted coding across a majority of hospitals providing COVID-19 related healthcare services

Demand for CAC systems is increasing due to adoption of electronic health records (EHR) by various healthcare services providers. CAC software is used by healthcare facilities considering the application of ICD-10 coding in coming time. These factors are responsible for driving the market growth. 10th revision of International Statistical Classification of Diseases & Related Health Problems (ICD) that is ICD-10 was released by World Health Organization (WHO) which includes a list for a number of codes for abnormal findings, diseases, complaints, symptoms, causes of injury, and social circumstances. CAC systems maintains this ICD-10 coding database which would be the key factor for growth in adoption of CAC software in healthcare facilities worldwide. 

𝐏𝐮𝐫𝐜𝐡𝐚𝐬𝐞 𝐈𝐧𝐪𝐮𝐢𝐫𝐲:

The key market players profiled in the report include 3M, Optum Inc., Nuance Communications Inc., McKesson Corporation, Cerner Corporation, Dolbey nThrive Inc., Craneware Inc., Artificial Medical Intelligence, TruCode LLC and Streamline Healthcare Solutions.

𝐊𝐞𝐲 𝐁𝐞𝐧𝐞𝐟𝐢𝐭𝐬:

  • This study presents the analytical depiction of the global computer assisted coding industry along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global computer assisted coding market share.
  • The current market is quantitatively analysed from 2020 to 2027 to highlight the global computer assisted coding market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
  • The report provides a detailed global computer assisted coding market analysis based on competitive intensity and how the competition will take shape in coming years.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐚𝐭𝐢𝐨𝐧:

𝐎𝐭𝐡𝐞𝐫 𝐓𝐫𝐞𝐧𝐝𝐢𝐧𝐠 𝐑𝐞𝐩𝐨𝐫𝐭𝐬:

North America and Europe Menstrual Cup Market:

Surgical Robotic System Market:

Surgical Drains Market:

𝐀𝐛𝐨𝐮𝐭 𝐔𝐬:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP, based in Portland, Oregon. AMR provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

AMR introduces its online premium subscription-based library Avenue, designed specifically to offer cost-effective, one-stop solution for enterprises, investors, and universities. With Avenue, subscribers can avail an entire repository of reports on more than 2,000 niche industries and more than 12,000 company profiles. Moreover, users can get an online access to quantitative and qualitative data in PDF and Excel formats along with analyst support, customization, and updated versions of reports.

Contact Us:
David Correa
5933 NE Win Sivers Drive
205, Portland, OR 97220
United States
Toll Free: 1-800-792-5285
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-855-550-5975

Leave a comment

Your email address will not be published. Required fields are marked *