Market Overview:
The global computer assisted coding software market is expected to grow at a CAGR of 10.8% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for automated encoding and clinical coding audit applications, and the growing need for management reporting across different industries. The global computer assisted coding software market is segmented on the basis of type, application, and region. On the basis of type, the market is segmented into natural language processing (NLP), structured input (SI), and integrated systems (IS). NLP dominates the global computer assisted coding software market due to its ability to convert unstructured data into a structured format that can be processed by computers. The application segment includes automated encoding, clinical coding audit, management reporting, and others.
Product Definition:
Computer Assisted Coding Software is a software program that helps healthcare professionals to code diagnoses and procedures for billing and insurance purposes. The importance of Computer Assisted Coding Software is that it helps to ensure accuracy in coding, which can lead to better reimbursement from insurance companies.
Natural Language Processing:
Natural language processing (NLP) is the branch of computer science that studies human-language interaction and its applications. The technology helps in extracting information from a natural text with the help of various tools and techniques. It also helps in understanding user intent from the input text. Natural language processing software is used for several applications such as speech recognition, Summarization, Information Extraction, Automatic Speech Recognition (ASR), Machine Learning (ML), Text Mining among others.
Structured Input:
Structured input is a data-driven process that involves the collection of clinical information from electronic health records (EHR), laboratory results, and diagnostic imaging. The information is then used to generate accurate coding guidelines for medical professionals. Structured input has become an essential tool in the field of computer-assisted coding (CAC) as it helps in reducing errors during the documentation process by providing rules for proper documentation.
The structured input.
Application Insights:
The automated encoding segment dominated the global computer assisted coding software market in 2017 and is expected to continue its dominance over the forecast period. Automated encoding systems help in reducing transcription time by more than 50% as compared to manual processes. The clinical coder using automated coder can code approximately 100 transcripts per hour as compared to only 20 per hour when using a manual process.
The management reporting segment accounted for a significant share of revenue in 2017 and is expected to grow at lucrative CAGR over the forecast period owing to growing demand from healthcare organizations for generating accurate financial reports on an ongoing basis, thereby driving market growth.
Regional Analysis:
North America dominated the global market in 2017. This can be attributed to the presence of a large number of healthcare organizations that are early adopters of these systems and also due to high awareness levels amongst healthcare professionals regarding these systems. The Asia Pacific is expected to grow at a lucrative CAGR over the forecast period owing to increasing government initiatives for improving patient safety, reducing medical errors, and enhancing clinical efficiency through utilization of computer software for coding and billing (CJB) procedures. Furthermore, growing penetration rates for internet services & broadband connectivity enables users with disabilities or who face language barriers access computers & internet services which further empowers them with CBT software applications thereby driving demand across this region.
Growth Factors:
- Increasing demand for accuracy and efficiency in medical coding: The global computer assisted coding (CAC) software market is expected to grow at a CAGR of 9.5% from 2016 to 2021. This growth can be attributed to the increasing demand for accuracy and efficiency in medical coding, as it helps healthcare providers improve their revenue cycle management process.
- Growing need for standardization and compliance with regulatory requirements: The global computer assisted coding (CAC) software market is also driven by the growing need for standardization and compliance with regulatory requirements across different geographies. This has led to an increase in the adoption of CAC software by healthcare providers worldwide.
- Proliferation of big data and analytics: Another key factor driving the growth of the global computer assisted coding (CAC) software market is the proliferation of big data and analytics, which has resulted in an increased focus on improving operational efficiencies across various industries, including healthcare.
Scope Of The Report
Report Attributes
Report Details
Report Title
Computer Assisted Coding Software Market Research Report
By Type
Natural Language Processing, Structured Input, Integrated Systems
By Application
Automated Encoding, Clinical Coding Audit, Management Reporting
By Companies
Optum, Inc., McKesson Corporation, Nuance Communications Inc., Cerner Corporation, Precyse Solutions, LLC, Trucode, Craneware Plc., Epic Systems Corporation, M-Scribe Technologies, LLC, ezDI, Inc, Coding Strategies, Inc., Alpha II, LLC, ID GmbH & Co., iMedx, ZyDoc, HRS Coding Elevated
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
153
Number of Tables & Figures
108
Customization Available
Yes, the report can be customized as per your need.
Global Computer Assisted Coding Software Market Report Segments:
The global Computer Assisted Coding Software market is segmented on the basis of:
Types
Natural Language Processing, Structured Input, Integrated Systems
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Automated Encoding, Clinical Coding Audit, Management Reporting
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Optum, Inc.
- McKesson Corporation
- Nuance Communications Inc.
- Cerner Corporation
- Precyse Solutions, LLC
- Trucode
- Craneware Plc.
- Epic Systems Corporation
- M-Scribe Technologies, LLC
- ezDI, Inc
- Coding Strategies, Inc.
- Alpha II, LLC
- ID GmbH & Co.
- iMedx
- ZyDoc
- HRS Coding Elevated
Highlights of The Computer Assisted Coding Software Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Natural Language Processing
- Structured Input
- Integrated Systems
- By Application:
- Automated Encoding
- Clinical Coding Audit
- Management Reporting
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Computer Assisted Coding Software Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Computer assisted coding software is a type of software that helps users create computer programs. The software typically provides a graphical user interface (GUI) and allows users to input code into a text editor. The program then automatically generates the necessary code to carry out the desired task.
Some of the key players operating in the computer assisted coding software market are Optum, Inc., McKesson Corporation, Nuance Communications Inc., Cerner Corporation, Precyse Solutions, LLC, Trucode, Craneware Plc., Epic Systems Corporation, M-Scribe Technologies, LLC, ezDI, Inc, Coding Strategies, Inc., Alpha II, LLC, ID GmbH & Co., iMedx, ZyDoc, HRS Coding Elevated.
The computer assisted coding software market is expected to grow at a compound annual growth rate of 10.8%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Computer Assisted Coding Software Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Computer Assisted Coding Software Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Computer Assisted Coding Software Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Computer Assisted Coding Software Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Computer Assisted Coding Software Market Size & Forecast, 2020-2028
4.5.1 Computer Assisted Coding Software Market Size and Y-o-Y Growth
4.5.2 Computer Assisted Coding Software Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Natural Language Processing
5.2.2 Structured Input
5.2.3 Integrated Systems
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Automated Encoding
6.2.2 Clinical Coding Audit
6.2.3 Management Reporting
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Computer Assisted Coding Software Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Computer Assisted Coding Software Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Natural Language Processing
9.6.2 Structured Input
9.6.3 Integrated Systems
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Automated Encoding
9.10.2 Clinical Coding Audit
9.10.3 Management Reporting
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Natural Language Processing
10.6.2 Structured Input
10.6.3 Integrated Systems
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Automated Encoding
10.10.2 Clinical Coding Audit
10.10.3 Management Reporting
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Natural Language Processing
11.6.2 Structured Input
11.6.3 Integrated Systems
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Automated Encoding
11.10.2 Clinical Coding Audit
11.10.3 Management Reporting
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Natural Language Processing
12.6.2 Structured Input
12.6.3 Integrated Systems
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Automated Encoding
12.10.2 Clinical Coding Audit
12.10.3 Management Reporting
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Natural Language Processing
13.6.2 Structured Input
13.6.3 Integrated Systems
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Automated Encoding
13.10.2 Clinical Coding Audit
13.10.3 Management Reporting
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Computer Assisted Coding Software Market: Competitive Dashboard
14.2 Global Computer Assisted Coding Software Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Optum, Inc.
14.3.2 McKesson Corporation
14.3.3 Nuance Communications Inc.
14.3.4 Cerner Corporation
14.3.5 Precyse Solutions, LLC
14.3.6 Trucode
14.3.7 Craneware Plc.
14.3.8 Epic Systems Corporation
14.3.9 M-Scribe Technologies, LLC
14.3.10 ezDI, Inc
14.3.11 Coding Strategies, Inc.
14.3.12 Alpha II, LLC
14.3.13 ID GmbH & Co.
14.3.14 iMedx
14.3.15 ZyDoc
14.3.16 HRS Coding Elevated
