AI in Medical Coding Market Increasing Demand, Growth Analysis and Future Outlook by 2031

Global AI in the medical coding market is anticipated to grow at a moderate CAGR of 13.7% during the forecast period (2024-2031). AI technologies are being used in various healthcare applications to enhance coding accuracy, improve revenue cycle management, detect fraud, and provide clinical decision support. These applications leverage AI algorithms and data analysis tools to assist human coders, identify anomalies and inconsistencies, generate reports and performance metrics, and support virtual healthcare encounters and remote coding workflows. By incorporating AI capabilities, healthcare organizations can optimize their coding and billing processes, maintain regulatory compliance, and make data-driven decisions to improve patient care. Furthermore, the market has seen significant growth primarily owing to increased focus on R&D by both public and private organizations and growing applications. For instance,

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In March 2023, Clinion launched an AI-powered medical coding solution for clinical trials, aiming to improve efficiency and accuracy. The solution uses advanced machine learning algorithms to analyze medical data and assign appropriate codes, reducing manual coding time and effort, and thereby enhancing the efficiency of clinical trials.

In December 2023,CorroHealth introduced its PULSE technology, a revolutionary SaaS product for healthcare, revolutionizing medical coding automation. This AI-driven platform, 100.0% automated, offers up to 97.0% accuracy in complex and simple codes, boosting productivity in fee-for-service and value-based care coding.

In December 2023, PMBAUSA launched the Certified AI Medical Coder (CAIMC™) program, aiming to equip medical coders with the necessary skills to thrive in the rapidly evolving healthcare industry, bridging the gap between traditional and AI coding.

Market Coverage

• The market number available for - 2023-203
• Base year- 2023
• Forecast period- 2024-2031
• Segment Covered-
o By Component
o By Deployment
o By Application
o By End-User
• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
• Competitive Landscape- 3M Co., Cerner Corp., Dolbey Systems, Inc., Nuance Communications, Inc., Optum, Inc., among others.

Key questions addressed by the report.

• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• Who is the leader in the market?
• How are players addressing challenges to sustain growth?
• Where is the investment opportunity?

Global AI in Medical Coding Market Report Segment

By Component

• Software
• Services

By Deployment mode

• In-House
• Outsourced

By Application

• Automated Coding
• Clinical Documentation Improvement (CDI)
• Natural Language Processing (NLP)
• Fraud Detection and Compliance Monitoring
• Revenue Cycle Management (RCM)
• Others(Encoder Integration, Quality Reporting and Analytics)

By End-User

• Hospitals and Clinics
• Medical Billing Companies
• Healthcare Payers
• Government Healthcare Agencies
• Others (Academic Medical Centers and Research Institutions)

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AI in Medical Coding Market Report Segment by Region

North America

• United States
• Canada

Europe

• Germany
• United Kingdom
• France
• Spain
• Italy
• Rest of Europe

Asia-Pacific

• China
• Japan
• India
• Rest of Asia-Pacific

Rest of the World

• Middle East & Africa
• Latin America

Company Profiles

• Aideo Technologies, LLC
• athenahealth, Inc.
• Claritrics Inc.
• Clinion Inc. (Quad One Technologies Pvt Ltd.)
• CodaMetrix, Inc
• Datavant
• Diagnoss Inc.
• Dolbey Systems, Inc.
• Fathom, Inc.

Reasons to Buying From us -

1. We cover more than 15 major industries, further segmented into more than 90 sectors.
2. More than 120 countries are for analysis.
3. Over 100+ paid data sources mined for investigation.
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