Key Trends and Insights into the Clinical Documentation Improvement Market: Growth Rate and Opportunities to 2034
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How has the clinical documentation improvement market grown in recent years?
The clinical documentation improvement market has grown steadily in recent years. It will rise from $3.99 billion in 2024 to $4.32 billion in 2025, with a compound annual growth rate (CAGR) of 8.3%. Growth drivers include the shift to value-based care models, regulatory and compliance changes, the ICD-10 coding transition leading to more detailed documentation, widespread adoption of electronic health records (EHR), improved data capture, and better revenue cycle management practices.
How is the clinical documentation improvement market size expected to evolve during the forecast period?
The clinical documentation improvement market is projected to grow to $5.87 billion by 2029 at an 8.0% CAGR. Growth factors include increased focus on interoperability, precision medicine, and telemedicine adaptation. Key trends include AI-driven documentation, real-time patient data, and advanced analytics.
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Which key drivers are propelling the clinical documentation improvement market’s growth?
The growing chronic disease burden is expected to enhance the clinical documentation improvement market. The rise in chronic diseases, due to aging and lifestyle factors, is increasing the demand for improved patient records. Clinical documentation ensures accurate records that aid in care coordination and treatment. The British Heart Foundation reported that 7.6 million people in the UK live with heart and circulatory diseases, which cause 27% of all deaths.
What are the market segments in the clinical documentation improvement industry?
The clinical documentation improvement market covered in this report is segmented –
1) By Product And Service: Solutions, Consulting Services
2) By Delivery Mode: On-Premise, Cloud-Based
3) By End Users: Healthcare Providers, Healthcare Payers
Subsegments:
1) By Solutions: Software (CDI Software, Natural Language Processing (NLP)-Based Solutions), Cloud-Based Solutions, Data Analytics Solutions, EHR Integration Solutions
2) By Consulting Services: CDI Program Implementation, Coding Audits And Compliance, Training And Education Services, Workflow Optimization And Process Improvement
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Which leading companies are shaping the growth of the clinical documentation improvement market?
Major companies operating in the clinical documentation improvement market are Optum Inc., 3M Company, Cerner Corporation, Epic Systems Corporation, GEBBS Healthcare Solutions Private Limited, CorroHealth Inc., Accuity Holdings, Nuance Communications Inc, AGS Health Private Limited, Aquity Solutions India Private Limited, Vizient Inc., Health Catalyst Inc., The Craneware Group Inc., Optimum Healthcare IT LLC., Claro Healthcare LLC., Iodine Software LLC, Health Fidelity Inc., Vitalware LLC., Streamline Healthcare Solutions Private Limited, Medaxiom Cardiology LLC, Dolbey Systems Inc., ChartWise Medical Systems Inc., Qventus Inc.
What key trends are currently impacting the clinical documentation improvement market’s development?
Companies in the clinical documentation improvement market are investing in AI-powered solutions to enhance medical documentation accuracy. For example, in April 2024, Augmedix Inc. launched Augmedix Go, a fully automated medical documentation product for emergency departments. This generative AI-based tool boosts productivity and reduces cognitive load for providers by simplifying documentation and decreasing chart closure times.
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Which geographic areas are influencing the growth of the clinical documentation improvement market?
North America was the largest region in the clinical documentation improvement market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the clinical documentation improvement market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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