Rapid Progression for Worldwide Computer Assisted Coding Market, Anticipated to Reach $5.1 million from $2.8 through 2022

Published on : Apr 19, 2017

Albany, New York, April 19, 2017: According to a recent study, the rapid adoption of electronic health record (EHR) in many healthcare facilities is creating demand for computer assisted coding. Computer-assisted coding has helped in reducing coding errors, thereby reducing healthcare costs and rising the productivity of healthcare facilities globally. Market Research Hub (MRH) has recently broadcasted the latest publications to its online repository, which is titled as “Computer Assisted Coding: Market Shares, Strategies and Forecasts, Worldwide, 2016 to 2022”. The complete report provides a comprehensive analysis of Computer Assisted Coding in different categories, illustrating the diversity of software market segments

As per the key findings, in 2016 the worldwide market for Computer Assisted Coding was valued $2.8 billion and is further anticipated to reach $5.1 billion by 2023. The market for computer assisted coding grows because it provides management of workflow process by encouraging increasing efficiency in care delivery. Also, Market being driven primarily because of the rising need to minimize coding errors and reduce the rising healthcare expenditure. The demand for computer assisted coding software in emerging countries such as China, India and Brazil is estimated to increase in future years due to the constant increase in healthcare infrastructure.

In the starting sections, the report delivers an exhaustive market description and dynamics of Computer Assisted Coding (CAC) technology. CAC application analyzes health care documents and produces proper medical codes for specific phrases & terms within the document. CAC supports to automatically generate medical billing codes from clinical documentation in EHRs and transcription systems. With CAC technology, healthcare organizations can modernize their revenue-cycle processes while becoming more compliant with the increasingly complex payer and quality reporting requirements. Computer-assisted coding of medical information uses language solutions to link the physician notes in an electronic patient record to the codes used for billing Medicare, Medicaid and private insurance companies.

Moreover, it has also been studied that computer-assisted coding software will see more adoption in healthcare facilities due to the adaptation of ICD-10 coding in coming years. It contains codes for diseases, abnormal findings, complaints, symptoms, social circumstances and causes of injury or diseases. Healthcare providers use complex coding systems, which drives demand for CAC systems.

NLP complex technology defines the key features of a computer-assisted coding (CAC) application. While some other features of CAC include:

  • Produce productivity gains of 25-75 % by providing rapid review aids and directing coders to concentrate on priority cases.
  • Automated coding workflow that flags incomplete physician documentation to proactively support CDI initiatives and reduce retrospective queries and delays.
  • The cloud-based solution which is accessible by coders located in-house or off-site.
  • Compile documentation from multiple disparate sources to simplify coder review.

Currently, market leaders present in the market includes:

  • 3M
  • Optum
  • Dolbey
  • McKesson
  • Platocode Computer Assisted Coding
  • Nuance Computer Assisted Coding
  • CodeCorrect
  • Artificial Medical Intelligence Emscribe CAC

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