Market Analysis: Global Medical Coding Market
Global Medical Coding Market is expected to rise from its initial estimated value of USD 12.29 billion to an estimated value of USD 26.63 billion by 2026, registering a CAGR of 10.15% in the forecast period of 2019-2026. This rise in market value can be attributed to the increasing insurance frauds and misunderstandings related to medical documents.
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Key Market Competitors:
- Aviacode Inc.
- Maxim Healthcare Services Inc
- MRA Health Information Services
- Oracle Corporation
- PAREXEL International Corporation
- Precyse Solutions LLC
- Verisk Analytics Inc.
- nThrive Inc
- Nuance Communications Inc.
- Optum Inc.
Market Definition: Global Medical Coding Market
In medical coding the medical records and documentation such as physician’s notes, laboratory and radiologic results are taken and transcribed into codes. The task of the medical coding professionals is to ensure whether the codes are applied correctly or not. The steps involve abstracting the information from documentation, assigning the appropriate codes, and creating a claim to be paid by insurance carriers. Medical coding is transforming healthcare diagnosis, procedures, medical services, and equipment into universal medical alphanumeric codes.
Table of Content:
Part 01: Executive Summary
Part 02: Scope of The Report
Part 03: Global Hydrocolloids Market Landscape
Part 04: Global Hydrocolloids Market Sizing
Part 05: Global Hydrocolloids Market Segmentation By Product
Part 06: Five Forces Analysis
Part 07: Customer Landscape
Part 08: Geographic Landscape
Part 09: Decision Framework
Part 10: Drivers and Challenges
Part 11: Market Trends
Part 12: Vendor Landscape
Part 13: Vendor Analysis
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- Growth in prevalence for medical coding services in hospitals is driving the market
- Increasing demand for standardized billing procedures is driving market
- Market Restraints
- Increasing consumer concerns related to the data security is restraining the growth of this market.
- Unavailability of the trained and skilled professionals is restraining the market.
Segmentation: Global Medical Coding Market
- By Classification System
- International Classification of Diseases (ICD)
- Healthcare Common Procedure Code System (HCPCS)
- By Component
- By End-User
- Diagnostic Centers
- By Geography
- North America
- South America
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
- Rest of Middle East & Africa
- North America
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Key Developments in the Market:
- In November 2017, Aviacode announced there acquisition of a Hyderabad, India- based medical coding company so that they can get access to AAPC and AHIMA certified medical coders. This acquisition will help them to improve their business as they will generate more revenue. This will provide the players to have coding service delivery to meet their requirement with proven US-based coding management
- In December 2018, Optum Bank announced that they have enhanced their data and analytics tools which will which help the accountholder to understand how to use their health savings account (HSA) savings so that they can pay for their healthcare costs. The main aim is to help people to save more so that they can use it for future.
Global medical coding market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of medical coding market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.
Reasons to Purchase this Report
- Current and future of global medical coding market outlook in the developed and emerging markets
- The segment that is expected to dominate the market as well as the segment which holds highest CAGR in the forecast period
- Regions/Countries that are expected to witness the fastest growth rates during the forecast period
- The latest developments, market shares, and strategies that are employed by the major market players
Customization of the Report:
- All segmentation provided above in this report is represented at country level
- All products covered in the market, product volume and average selling prices will be included as customizable options which may incur no or minimal additional cost (depends on customization)
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