Computer Assisted Coding Market to Reach $5.1 Billion by 2023 says a New Report at ReportsnReports.com
PUNE, India, April 5, 2017 /PRNewswire/ --
Computer Assisted Coding Market Shares, Strategy, and Forecasts, Worldwide, 2017 to 2023 report says the next generation Computer Assisted Coding of medical information is able to leverage natural language software technology to support some automation of the billing process and use of analytics to achieve higher quality patient outcomes.
Browse 110 Tables and Figures, 3 Major Company Profiles and 11 Selected Market Participants, spread across 299 pages available at http://www.reportsnreports.com/reports/944710-computer-assisted-coding-market-shares-strategies-and-forecasts-worldwide-2016-to-2022.html.
Key Topics are Natural Language Coding, NLC, Computer Assisted Coding, CAC, Rules Based Coding Technology, Medical Coding, Medical Necessity, Electronic Medical Record, Electronic Medical Coding, Natural language solutions, Computerized medical workflow, Claims scrubbers, Tessi® (terminology supported semantic indexing), Electronic coding for physicians, Medical necessity, Correct coding tools, Physician electronic medical record (emr) systems, Language and computing, Ontology assisted solutions, Diagnosis codes, Procedure codes
Computer assisted coding of medical information uses natural language solutions to link the physician notes in an electronic patient record to the codes used for billing Medicare, Medicaid, and private insurance companies.
Computer assisted coding applications depend on the development of production quality natural language processing (NLP)-based computer assisted coding applications. This requires a process-driven approach to software development and quality assurance.
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According to lead author of the team that prepared the study, "Growing acceptance of computer assisted coding for physician offices represents a shift to cloud computing and billing by the procedure coded. Because SaaS based CAC provides an improvement over current coding techniques the value is being recognized. Administrators are realizing the benefits to quality of care. Patients feel better after robotic surgery and the surgeries are more likely to be successful."
The worldwide market for Computer Assisted Coding is $2.8 billion in 2016, anticipated to reach $5.1 billion by 2023. The complete report provides a comprehensive analysis of Computer Assisted Coding in different categories, illustrating the diversity of software market segments. A complete procedure analysis is done, looking at numbers of procedures and doing penetration analysis.
Major health plans report a smooth transition to ICD-10. This is due to rigorous testing for six years. ICD-10 has had a positive impact on reimbursement. ICD-10 coding system requires use of 72,000 procedure codes and 68,000 CM codes, as opposed to the 4,000 and 14,000 in the ICD-9 system. Managing high volume of codes requires automation. Healthcare providers and payers use complex coding systems, which drives demand for technologically advanced CAC systems.
The market for computer-assisted coding grows because it provides management of workflow process value by encouraging increasing efficiency in care delivery. By making more granular demarcation of diagnoses and care provided for each diagnosis, greater visibility into the care delivery system is provided. Greater visibility brings more ability to adapt the system to successful treatments.
Companies Profiled
Market Leaders: 3M, Optum and Dolbey
Selected Market Participants are Artificial Medical Intelligence, Cerner, Craneware, EPIC, Group One / CodeCorrect, M*Modal, nThrive / Precyse, Nuance, Quest Diagnostics, TruCode and UnitedHealth Group / Optum.
Other Related Reports:
Patient Monitoring Equipment: Market Shares, Strategies, and Forecasts, Worldwide, 2016 to 2022
Explore more reports on Healthcare at http://www.reportsnreports.com/market-research/healthcare/.
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