Key Players are McKesson Corporation (U.S.), Nuance Communications (U.S.), Cerner Corporation (U.S.), Dolbey Systems, Inc. (U.S.), Precyse Solutions LLC (U.S.), Craneware plc (U.S.), Artificial Medical Intelligence (U.S.), and TruCode (U.S.)
(PRWEB) March 10, 2015
The global computer-assisted coding (CAS) market was valued at $1.56 billion in 2013 and is expected to grow at a high CAGR from 2014 to 2019.
There are two types of computer-assisted coding (CAC) solutions namely standalone software and integrated software. Standalone solutions include natural language processing (NLP) software and structured input software. NLP applications scan and interpret unstructured clinicians notes using specialized linguistic algorithms, extracting the clinical facts that support the assignment of codes. Structured input applications integrate the coding into the clinical documentation process, producing clinical documents with embedded codes. NLP applications work with clinical documentation practices which include unstructured text such as dictation, speech recognition and transcription. Factors such as improving healthcare IT infrastructure, rising investments in CAC software integration and increasing number of healthcare facilities are some of the key factors expected to play a vital role in the growth of the market during the forecast period.
Computer-assisted coding has helped in reducing coding errors thereby reducing healthcare costs and increasing the productivity of healthcare facilities globally. This market is mainly driven by regulatory compliances, growing information content in healthcare organizations and need to increase operational accuracy and efficiency to improve quality of healthcare services offered. Moreover the need to resolve complex coding of ICD-10 and increasing pressure to reduce healthcare costs are further propelling the growth of this market.
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The global computer-assisted coding market is broadly segmented by type, mode of delivery, application and end user. By type the computer-assisted coding systems market is segmented into software and services. By mode of delivery the market is segmented into web-based, cloud-based and on-premises. On the basis of applications the market is segmented into automated computer-assisted encoding, management reporting and analytics and clinical code auditing. On the basis of end users the market is segmented into hospitals, clinics, academic medical centers and others.
North America continues to account for the largest share of the computer-assisted coding systems market during the forecast period, followed by Europe, Asia-Pacific and RoW. However the APAC region is expected to witness the fastest market growth during the forecast period largely driven by increasing healthcare awareness and increase in insurance claim reimbursement, rising affordability of healthcare services, improving healthcare infrastructure and growing number of healthcare providers in tier I and tier II cities.
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