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$42.4 Billion Medical Coding Markets, 2030
Dublin, Nov. 11, 2020 (GLOBE NEWSWIRE) -- The "Medical Coding Market Research Report: By Classification System (International Classification of Diseases, Healthcare Common Procedure Coding System, Current Procedural Terminology), End User (Hospitals, Diagnostic Centers) - Global Industry Analysis and Growth Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
The usage of medical coding is increasing at an explosive pace across the world, which is, in turn, driving the expansion of the global medical coding market. As a result, the value of the market will rise from $15.2 billion to $42.4 billion from 2019 to 2030. Further, the market will advance at a CAGR of 9.6% between 2020 and 2030. Diagnostic centers and hospitals are the two major end-users of medical coding.
Medical coding is basically the process of translating healthcare and medical information and other important data into simple and easy to understand codes so that the healthcare records of patients can be easily documented and accurate medical billing can be produced in healthcare settings. This method originated in England over two millennia ago when medical practitioners used to collect statistical data and organize and store them in the form of numerical codes. Since then, the method has evolved considerably, with modern coding systems replacing the role of the book-keepers in the recent times.
The American Academy of Professional Coders (AAPC) defines medical coding as "the transformation of healthcare diagnosis, procedures, medical services and equipment into universal medical alphanumeric codes." An important factor fueling the requirement for medical coding is the growing prevalence of insurance frauds across the world. These frauds are causing
Therefore, it can be said with certainty that the requirement for medical coding will surge all over the world in the forthcoming years, primarily because of the growing incidence of insurance frauds, rising need for faster and accurate hospital billing procedures, and the growing demand for healthcare documentation and medical record-keeping in healthcare facilities around the world.
Key Topics Covered:
Chapter 1. Research Background
1.1 Research Objectives
1.2 Market Definition
1.3 Research Scope
1.4 Key Stakeholders
Chapter 2. Research Methodology
2.1 Secondary Research
2.2 Primary Research
2.3 Baseline-Methodology
2.4 Market Size Estimation
2.5 Data Triangulation
2.6 Currency Conversion Rates
2.7 Assumptions for the Study
Chapter 3. Executive Summary
Chapter 4. Introduction
4.1 Definition of Market Segments
4.1.1 By Classification System
4.1.1.1 ICDs
4.1.1.2 CPT
4.1.1.3 HCPCS
4.1.2 By End User
4.1.2.1 Hospitals
4.1.2.2 Diagnostic centers
4.1.2.3 Others
4.2 Market Dynamics
4.2.1 Trends
4.2.1.1 Increasing utilization of computer-aided coding systems
4.2.2 Drivers
4.2.2.1 Rising incidence of insurance frauds
4.2.2.2 Growing demand to modernize hospital billing procedures
4.2.2.3 Impact analysis of drivers on market forecast
4.2.3 Restraints
4.2.3.1 Data security concerns
4.2.3.2 Lack of trained and skilled professionals
4.2.3.3 Impact analysis of restraints on market forecast
4.2.4 Opportunities
4.2.4.1 Growing demand for medical coding services in emerging economies
4.3 Impact of COVID-19
4.4 Porter's Five Forces Analysis
Chapter 5. Global Market Size and Forecast
5.1 By Classification System
5.2 By End User
5.3 By Region
Chapter 6. Europe Market Size and Forecast
Chapter 7. North America Market Size and Forecast
Chapter 8. APAC Market Size and Forecast
Chapter 9. LATAM Market Size and Forecast
Chapter 10. MEA Market Size and Forecast
Chapter 11. Competitive Landscape
11.1 Recent Strategic Developments
11.2 List of Others Players
Chapter 12. Company Profiles
Oracle Corporation
Maxim Healthcare Services Inc.
Medical Record Associates LLC
Aviacode Inc.
Dolbey Systems Inc.
Parexel International Corporation
Precision Practice Management
3M Company
Nuance Communications Inc.
Optum Inc.
For more information about this report visit https://www.researchandmarkets.com/r/7jehln
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