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How has the computer assisted coding market size evolved in recent years?

The expansion of the computer assisted coding market has been swift in the last couple of years. Its size, which is projected to rise from $5.77 billion in 2024 to $6.5 billion in 2025, is estimated to have a compound annual growth rate (CAGR) of 12.5%. The factors contributing to the growth during the historic phase include data explosion, need for regulatory compliance, demand for business intelligence, improving customer experience, cost-cutting and efficiency, and heightened awareness and education.

What are the predictions for the computer assisted coding market size in the coming years?

Expectations for the computer assisted coding market predict a swift expansion in the coming years. The market size is projected to escalate to $10.45 billion by 2029, with a compound annual growth rate (CAGR) of 12.6%. The predicted growth during the forecast period may be a result of integration with AI and ML, increased demand for predictive analytics, adoption across various industries, reinforced security protocols, and real-time analytics. The period is likely to witness several trends such as advancements in technology and natural language processing (NLP), AI-induced automation, processing of multimodal content, and real-time analytics.

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What key factors are fueling the growth of the computer assisted coding market?

The surge in the use of electronic health records (EHR) is predicted to be a key driver propelling the expansion of the computer-assisted coding market. Electronic health records (EHRs) are essentially digitized patient paper charts, methodically accumulating health data in an electronic form. Computer-assisted coding (CAC) boosts the proficiency and precision of electronic health records by mechanizing the process of extracting and assigning medical codes from clinical documentation. For example, in July 2024, as per a report by the European Commission, a Belgium-based governmental agency, approximately 48% of Member States offer both online portals and mobile applications for citizens to retrieve electronic health records, with a reported 74% of Member States specifying that between 80-100% of their populace has the ability to technically access health information online. In total, enhanced access to technology and coverage in 16 Member States was reported. As such, the rising utilization of electronic health records (EHR) is stimulating the expansion of the computer-assisted coding market.

How is the global computer assisted coding market divided into key segments?

The computer assisted coding market covered in this report is segmented –

1) By Product: Software, Services

2) By Mode Of Delivery: Web And Cloud Based, On-Premises

3) By Application: Automated Computer-Assisted Encoding, Management Reporting And Analytics, Clinical Coding Auditing

4) By End User: Hospitals, Physicians, Academic Medical Centers, Clinical Labs And Diagnosis Centers, Other Healthcare Providers

Subsegments:

1) By Software: Computer-Assisted Coding (CAC) Software, Natural Language Processing (NLP) Solutions, Electronic Health Record (EHR) Integration Tools, Audit And Compliance Software, Reporting And Analytics Tools

2) By Services: Implementation Services, Training And Support Services, Auditing And Consulting Services, Maintenance And Upgrades, Outsourcing Services For Coding And Billing

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Who are the key firms paving the way for growth in the computer assisted coding market?

Major companies operating in the computer assisted coding market report are UnitedHealth Group Inc., McKesson Corporation, Microsoft Corporation, Oracle Corporation, 3M Company, GE HealthCare Technologies Inc., Epic Systems Corporation, Athenahealth Inc., Cerner Corporation, FinThrive Revenue Systems LLC, eClinicalWorks, NextGen Healthcare Inc., Medical Information Technology Inc., Computer Programs and Systems Inc., Availity LLC, Craneware PLC, AGS Health, CareCloud Inc., ezDI Inc., Streamline Health Solutions Inc., ZyDoc Corporation, Codifyd Inc., Dolbey Systems Inc., Alpha II LLC, M-Scribe Technologies LLC, ChartWise Medical Systems Inc., Saince Inc., Talix Inc., Apervita Inc., Artificial Medical Intelligence Inc.

Which trends are expected to transform the computer assisted coding market?

Leading companies in the computer-assisted coding industry are channeling their focus towards crafting innovative products that employ advanced technologies like natural language processing (NLP) to deliver dependable services. NLP, when used in computer-assisted coding, scrutinizes medical documents to gather important data, making medical coding highly efficient and precise. For example, AGS Health, an American healthcare analytics technology firm, introduced an AGS AI platform in September 2022. This platform revolutionizes the healthcare revenue cycle management by automating tasks such as insurance authorization, medical billing, and claim denials using revenue cycle automation. Intelligent robotic process automation (RPA) is used to make workflow processes more streamlined, thus improving productivity and quality. This platform uses Natural Language Processing and Understanding (NLP/NLU) for efficient data navigation, incorporates smart authorization for rapid service access, and includes computer-assisted coding and clinical documentation improvement. Through the use of RPA, machine learning, and NLP, it promotes better productivity.

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What regions are contributing significantly to the growth of the computer assisted coding market?

North America was the largest region in the computer assisted coding market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the computer assisted coding market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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