The report “Computer Assisted Coding Market by Software (Natural language processing, Structured input, Integrated), by Application (Automated encoding, Management reporting, Clinical code auditing & analytics), & by End User – Global Forecast to 2019”
The global computer-assisted coding market is experiencing a high growth during the recent years. CAC solutions are increasingly used to reduce coding errors, increase coder productivity, and offer quality healthcare. This can be attributed to various factors such as rapid growth in the number of healthcare facilities, increasing insurance claim reimbursement, and favorable government in the computer-assisted coding market.
The mandatory conversion of ICD-9 to ICD-10 in the North American healthcare industry by October 1, 2015 is expected to drive the market growth. This has led to the growing implementation of ICD-10 diagnosis and procedure codes for insurance claim reimbursement, payment billing, and revenue cycle management.
In this report, the computer-assisted coding market is segmented by solution, mode of delivery, application, end user, and geographic regions. It also discusses the key market drivers, restraints, and opportunities of this market and its submarkets. The market is expected to grow at a double-digit CAGR during the forecast period.
In 2013, North America accounted for the largest share of the computer-assisted coding market, followed by Europe and Asia-Pacific. The presence of a large number of computer-assisted coding solution market players in the North American region, developed healthcare IT infrastructure, and technological advancements such as implementation of ICD-10 has led to a large market share of North America in the global computer-assisted coding market. However, the APAC region represents the highest growth opportunity for the computer-assisted coding market during the forecast period. Growing investments by emerging countries such as China, India, and Brazil in the CAC solution sector, rising need for better healthcare, and increasing government initiatives globally are expected to propel the growth of this market
Major players in the computer-assisted coding market include 3M Health Information Systems (U.S.), OptumInsight, Inc. (U.S.), McKesson Corporation (U.S.), Nuance Communications (U.S.), Cerner Corporation (U.S.), Dolbey Systems, Inc. (U.S.), Precyse Solutions LLC (U.S.), Craneware plc (U.S.), Artificial Medical Intelligence (U.S.), and TruCode (U.S.).