Key Players are 3M Health Information Systems (U.S.), OptumInsight, Inc. (U.S.), McKesson Corporation (U.S.), Nuance Communications (U.S.), Cerner Corporation (U.S.), Dolbey Systems, Inc. (U.S.), Precyse Solutions LLC (U.S.)
(PRWEB) February 20, 2015
The computer-assisted coding (CAC) technology automatically produces medical codes directly from clinical documents. Computer-assisted coding is a tool that helps healthcare facilities to manage the complexity of ICD-10 coding. The productivity is expected to increase from 15% to 20% after the implementation of computer-assisted coding tools. The Global computer-assisted coding market is expected to reach $3.5 billion by 2019.
There are two types of 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.
The mandatory conversion of ICD-9 to ICD-10 in the North American healthcare industry by October 1, 2015 is expected to drive the market growth. This has led to the growing implementation of ICD-10 diagnosis and procedure codes for insurance claim reimbursement payment billing and revenue cycle management.
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In this report the computer-assisted coding market is segmented by solution, mode of delivery, application, end user and geographic regions. It also discusses the key market drivers, restraints and opportunities of this market and its submarkets. The market is expected to grow at a double-digit CAGR during the forecast period.
In 2013 North America accounted for the largest share of the computer-assisted coding market followed by Europe and Asia-Pacific. The presence of a large number of computer-assisted coding solution market players in the North American region developed healthcare IT infrastructure and technological advancements such as implementation of ICD-10 has led to a large market share of North America in the global computer-assisted coding market. However the APAC region represents the highest growth opportunity for the computer-assisted coding market during the forecast period. Growing investments by emerging countries such as China, India and Brazil in the CAC solution sector, rising need for better healthcare and increasing government initiatives globally are expected to propel the growth of this market
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