In a recent published report, Kenneth Research has updated the market report for Computer Assisted Coding Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Computer Assisted Coding Market products.
The Computer Assisted Coding Market is thriving on account of the rising awareness amongst individuals for the benefits of maintaining a good health and the increasing need for high quality healthcare services amongst individuals. With the increasing prevalence of diseases worldwide, people are opting for products that help them to stay fit and are also investing more on healthcare services. Alternatively, pharmaceutical manufacturers, along with other healthcare companies that manufactures devices and equipment, are increasingly focusing on the research and development of advanced treatment, drugs and equipment for the diagnosis and treatment of the diseases and for developing healthcare products. Organizations are raising their R&D expenses year-on-year so as to deliver quality healthcare products in the years to come. The advancements in the healthcare sector are also supported by the governments of nations worldwide with numerous financial aids.
Computer Assisted Coding Market is valued at USD 2.74 billion in 2017 and is projected to reach USD 6.45 billion by 2025, growing at a CAGR of 11.3% from 2017 to 2025.Computer Assisted Coding is the solution adopted by many major industry players for better coding workflows, decreasing coding errors and increase accuracy of the coding, analyze large data and decrease time consumption.A computer assisted coding system (CACS) is software that analyzes healthcare documents and produces appropriate medical codes for specific phrases and terms within the document.
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The Final Report will cover the impact analysis of COVID-19 on this industry:
Sample Infographics:
1. Market Drivers
1.1 Implementation of ICT-10 Standards
1.2 More usage of HER systems
1.3 Cost reduction benefits
1.4 Better Patient data management
1.5 Popularity amongst physicians to handle outpatient settings using CAC
2. Market Restraints
2.1 High implementation cost
2.2 Lack of IT Professionals
Market Segmentation:
Computer Assisted Coding Marketis segmented on the basis of:
1. Computer Assisted Coding Market, byProduct and service:
1.1 Software
1.1.1 Standalone software
1.1.1.1 Structured input software
1.1.2 Integrated Software
1.2 Services
1.2.1 Support and maintenance
1.2.2 Education and training
2. Computer Assisted Coding Market, by Mode of Delivery:
2.1 Web based
2.2 Cloud based
2.3 On premise
3. Computer Assisted Coding Market, by Application:
3.1 Automated Computer assisted encoding
3.2 Management Reporting And Analytics
3.3 Clinical Coding auditing
4. Computer Assisted Coding Market, end user:
4.1 Hospitals
4.2 Physicians
4.3 Academic Medical Centers
4.4 Clinical labs and diagnosis centers
4.5other healthcare providers
5. Computer Assisted Coding Market, by Region:
5.1 North America (U.S., Canada, Mexico)
5.2 Europe (Germany, UK, France, Rest of Europe)
5.3 Asia Pacific (China, Japan, India, Rest of Asia Pacific)
5.4 Latin America (Brazil, Argentina, Rest of Latin America)
5.5Rest of the World
Competitive Landscape:
The major players in the market are as follows:
1. 3M Company
2. Optum, Inc.
3. Nuance Communications, Inc.
4. Cerner Corporation
5. Mckesson Corporation
6. Dolbey Systems, Inc.
7. Artificial Medical Intelligence, Inc.
8. Craneware PLC.
9. Athenahealth, Inc.
10. Streamline Health Solutions, Inc.
11. Trucode
12. M*Modal IP LLC
13. Quest Diagnostics Incorporated
14. EPIC Systems Corporation
15. Precyse Solutions, LLC (Nthrive, Inc.)
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
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RESEARCH METHODOLOGY OF VERIFIED MARKET RESEARCH:
Research study on the Computer Assisted Coding Market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
To know more about the research methodology of verified market research and other aspects of the research study, kindly get in touch with our sales team.
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Kenneth Research provides market research reports to different individuals, industries, associations and organizations with an aim of helping them to take prominent decisions. Our research library comprises of more than 10,000 research reports provided by more than 15 market research publishers across different industries. Our collection of market research solutions covers both macro level as well as micro level categories with relevant and suitable market research titles. As a global market research reselling firm, Kenneth Research provides significant analysis on various markets with pure business intelligence and consulting services on different industries across the globe. In addition to that, our internal research team always keep a track on the international and domestic market for any economic changes impacting the products’ demand, growth and opportunities for new and existing players.
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