What is Computer Assisted Coding Systems?
A computer-assisted coding system is software that analyzes healthcare documents and needed to handle structured and unstructured clinical data as the addition of digital tools produces more data. Healthcare organizations are constantly producing and collecting medical data hence they need a computer-assisted coding system(CACS) to ensure data is consistent throughout the organization to successfully sort and code that data. Computer-assisted coding systems use natural language processing to pick out important terms and phrases from ICD-10 CM and ICD-9 CM as well as the AMA’s Current Procedural Terminology. These coding systems automated the traditional manual coding process.
The market study is broken down by Type (Software {Structured Input, Natural Language Processing (NLP) and Integrated Systems} and Service (Support, Education & Training)), by Application (Automated Encoding, Clinical Coding Audit and Management Reporting) and major geographies with country level break-up.
The companies are exploring the market by adopting expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions across the globe to gain a competitive advantage through combined collaborations. Analysts at AMA Research estimates that Players from United States will contribute to the maximum growth of Global Computer Assisted Coding Systems market throughout the predicted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
3M Health Information Systems (United States), OptumInsight, Inc. (United States), McKesson Corporation (United States), Nuance Communications (United States), Cerner Corporation (United States), Dolbey Systems, Inc. (United States), MedKoder, LLC (United States), Medsphere Systems Corporation (United States) and Iatric Systems, Inc. (United States) are some of the key players that are part of study coverage.
Segmentation Overview
AdvanceMarketAnalytics has segmented the market of Global Computer Assisted Coding Systems market by Type, Application and Region.
On the basis of geography, the market of Computer Assisted Coding Systems has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Mede of Delivery, the sub-segment i.e. Web-Based Solutions will boost the Computer Assisted Coding Systems market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End-user, the sub-segment i.e. Hospitals will boost the Computer Assisted Coding Systems market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Trend
- Increased Automation in the Healthcare Industry
Market Drivers
- Increased Adoption of CAC Solutions in North America Due to the Implementation of ICD-10 Standards
- Rise in the Implementation of Ehr Systems
- Increasing Utilization of CAC Solutions to Curtail the Rising Healthcare Costs
Opportunities
- Natural Language Processing-Enabled CAC Solutions
- Growing Adoption of Cloud-Based Solutions
Restraints
- High Implementation and Maintenance Costs
Challenges
- Technological Complexities Associated with Computer Assisted Coding Systems
Key Target Audience
Computer Assisted Coding Systems Developers, Emerging Companies, Research Professionals and End-users
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have the better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with purpose to understand companys positioning regarding market value, volume and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders etc. and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, analyst team keeps preparing set of questionnaires and after getting appointee list; the target audience are then tapped and segregated with various mediums and channels that are feasible for making connection that includes email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey etc.