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Computer Assisted Coding Market report highlights the most important market insights that take the business to the highest level of growth and success. The research, analysis and estimations about the market have been performed with the reliable knowledge in this industry analysis report. The report focuses on important aspects of the market that include but are not limited to historic data, present market trends, environment, technological innovation, upcoming technologies and the technical progress in the HEALTHCARE Computer Assisted Coding Market analysis document helps to obtain information about all the above factors by giving actionable market insights and comprehensive market analysis.
Data Bridge Market Research analyses that the computer assisted coding market which is USD 4.65 billion in 2022, is expected to reach USD 13.08 billion by 2030, at a CAGR of 13.8% during the forecast period 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
A worldwide Computer Assisted Coding Market research report has complete overview of the market covering various aspects such as product definition, segmentation based on various parameters, and the prevailing vendor landscape. The report lends a hand to stay up-to-date about the entire market and also puts forward holistic view of the market. With this market report, insights and realities of the HEALTHCARE industry can be focused which helps keep the business on the right track. A thorough analysis has been performed in this document to know the potential of the market in the present and the future prospects from various angles. Computer Assisted Coding Market report contains remarkable market data, present market trends, product consumption, environment, technological innovation, future prospects, upcoming technologies and the technical progress in the related industry.
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The rising use of EHR systems will be a primary push-over in accelerating the computer-assisted coding market’s growth rate. Another important factor boosting the market growth is the increased use of computer-assisted coding (CAC) solutions to minimize the healthcare costs. Additionally, increased regulatory requirements for patient data management and increasing focus on physician computer-assisted coding in outpatient settings are the primary factors that will increase the growth of market. Moreover, commercial and government organizations are reversing rapid advances in global healthcare infrastructure and increasing insurance reimbursement policies.
The increased use of EHR systems will be a major driver in accelerating the computer-assisted coding market’s growth rate. Another important factor driving market growth is the increased use of computer-assisted coding (CAC) solutions to reduce rising healthcare costs. Furthermore, increased regulatory requirements for patient data management and rising focus on physician computer-assisted coding in outpatient settings are the major drivers that will enhance the growth of market. Furthermore, commercial and government organizations are reversing rapid advances in global healthcare infrastructure and rising insurance reimbursement policies.
Market Overview:
A computer-assisted coding system (CAC) is software that analyses medical records and generates a unique keyword for specific phrases and terms. These keywords provided by (CACS) can help to increase productivity and decrease administrative processing time. The primary goal of computer-assisted coding software is to reduce errors and increase the facility’s efficiency. Computer-assisted coding provides products and services such as software, structured input software, standalone software, services, integrated software, support and maintenance, and education and training. It is used in a variety of applications, including automated computer-assisted coding, management reporting and analytics, and clinical coding auditing.
Drivers
The burden of the senior population will fuel the demand for patient-centered healthcare apps in the country because chronic illnesses such as heart disease are more likely to influence and are more prevalent among the elderly. According to a Statistics Canada report titled “Older Adults and Population Aging Statistics” published in July 2020, approximately 6,835,866 people in Canada were 65 or older in 2020. As a result, an increase in patient-centric apps will drive up demand for the region’s computer-assisted coding market.
Opportunities
Several initiatives for the management of health data are being implemented. For instance, in November 2021, a collaboration between global interoperability firm Enovacom and Nordic nursing application specialist Medanets will allow nursing staff to access patient data via mobile devices. In real time, medical device data will be automatically collected by Enovacom’s Patient Connect interoperability platform and fed into the hospital’s electronic health record (EHR) and the Medanets’ mobile nursing app. Sweden recently updated its national e-Health vision. By 2020, all residents aged 16 and up should have access to all health-related information documented in county-funded health and dental care. As a result, Sweden has some of the highest rates of EHR adoption in Europe. Cerner Corporation completed the acquisition of Kantar Health, a division of Kantar Group, for USD 375 million in cash, subject to adjustment, in April 2021. As a result, the above-mentioned factors are expected to boost market growth.
Recent Developments
Some of the major players operating in the computer-assisted coding market are:
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Computer Assisted Coding Market Scope
Product
Mode of Delivery
Application
End User
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Regional Insights: North America is expected to dominate the Global Computer Assisted Coding Market
North America dominates the market because of the increase in the adoption of patient-centric approach by healthcare players and favorable government funding policies and initiatives for implementing healthcare IT solutions in this region. In 2009, the Health Information Technology for Economic and Clinical Health (HITECH) Act came into act, and the use of computer-assisted coding in the U.S. has been growing, along with EHR.
Asia-Pacific is expected to grow in the forecast period of 2022-2029 because of the increased enhancement of healthcare infrastructure and increasing economies in this region. Also, the burden of the elderly population will boost the demand for patient-centered healthcare apps in the region since chronic ailments such as heart disorders are more likely to influence and are more incident among the elderly population.
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