Press release
Medical Coding Market to reach USD 38.97 Bn by 2029, emerging at a CAGR of 10.95 percent and forecast 2023-2029
Medical Coding Market
The report offers a comprehensive analysis of the global Medical Coding market, including insights into key drivers, restraints, opportunities, and market trends. The research also presents a regional breakdown to provide a deeper understanding of market dynamics.
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Medical Coding Market Research Methodology:
The report relies on a robust research methodology to provide accurate and insightful market information, offering data analysis for the historical period from 2018 to 2022.
What are Medical Coding Market Dynamics:
The market's substantial growth is primarily driven by technological advancements in the medical field, with a particular focus on the increased adoption of computer-aided coding systems (CACS). As cutting-edge technologies like artificial intelligence, natural language processing (NLP), and the Internet of Medical Things (IoMT) gain wider acceptance, the demand for CACS in the healthcare sector is on the rise. Computer-aided coding systems offer several advantages over manual coding, including increased productivity, efficiency, and uniform coding rule execution. Additionally, the escalating cases of insurance fraud in the healthcare sector are further propelling the medical coding industry, as highlighted by the National Health Care Anti-Fraud Association (NHCAA), which reports significant annual financial losses due to this issue.
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Medical Coding Market Regional Insights:
Notably, the United States holds the largest market share in the region due to factors such as an aging population and a rising prevalence of chronic diseases. In the United States, heart disease, according to the 2022 American Heart Association Research Report, accounts for one out of every seven deaths, making it a significant concern. Specifically, coronary heart disease emerged as the leading cause of cardiovascular disease-related deaths, constituting 43.8% of all such fatalities in 2022. Enterprises in the region are increasingly launching new products and strategic initiatives to expand their market presence. For example, WELL Health Technologies Corp. announced the acquisition of Toronto-based DoctorCare in November 2022. DoctorCare's proprietary technology focuses on reducing errors, ensuring compliance with complex medical billing claim codes, and enhancing patient care.
What is Medical Coding Market Segmentation:
by Classification System
International Classification of Diseases (ICD)
Healthcare Common Procedure Code Systems (HCPCS)
Current Procedural Terminology
by Component
In-house
Outsourced
by End Users
Hospitals
Diagnostic Centers
Other End Users
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Who are Medical Coding Market Key Players:
1. STARTEK Health
2. Aviacode, Inc.
3. Parexel International Corporation
4. Maxim Health Information Services
5. Precyse Solutions, LLC
6. Medical Record Associates LLC.
7. Verisk Analytics
8. nThrive, Inc
9. Medical Record Associates LLC
10.Oracle Corporation
11.3M
12.Optum
13.Change Healthcare
14.The Coding Network
15.Conifer Health Solutions
16.Himagine Solutions
17.Humana
18.iMedX
Table of content for the Medical Coding Market includes:
Global Medical Coding Market: Research Methodology
Global Medical Coding Market: Executive Summary
Market Overview and Definitions
Introduction to the Global Market
Summary
Key Findings
Recommendations for Investors
Recommendations for Market Leaders
Recommendations for New Market Entry
3.Global Medical Coding Market: Competitive Analysis
MMR Competition Matrix
Market Structure by region
Competitive Benchmarking of Key Players
Consolidation in the Market
MandA by region
Key Developments by Companies
Market Drivers
Market Restraints
Market Opportunities
Market Challenges
Market Dynamics
PORTERS Five Forces Analysis
PESTLE
Regulatory Landscape by region
North America
Europe
Asia Pacific
Middle East and Africa
South America
COVID-19 Impact
4.Company Profile: Key players
Company Overview
Financial Overview
Global Presence
Capacity Portfolio
Business Strategy
Recent Developments
Key Offerings:
Past Market Size and Competitive Landscape (2022 to 2029)
Past Pricing and price curve by region (2022 to 2029)
Market Size, Share, Size and Forecast by different segment | 2022-2029
Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by region
Market Segmentation - A detailed analysis by growth and trend
Competitive Landscape - Profiles of selected key players by region from a strategic perspective
Competitive landscape - Market Leaders, Market Followers, Regional player
Competitive benchmarking of key players by region
PESTLE Analysis
PORTER's analysis
Value chain and supply chain analysis
Legal Aspects of business by region
Lucrative business opportunities with SWOT analysis
Recommendations
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