The global computer-assisted coding market is projected to reach USD 4.75 Billion by 2022 from USD 2.76 Million in 2017, at a CAGR of 11.5%. The computer-assisted coding market is consolidated in nature with the top five players commanding a major share of the market. In 2016, 3M Company (U.S.) and Optum, Inc. (U.S.) dominated the computer-assisted coding market and accounted for approximately 40 to 45% share of the global computer-assisted coding market.
3M Health Information Systems is the leading player of the computer-assisted coding market, offering a diversified and strong product portfolio of computer-assisted coding (CAC) solutions for the healthcare industry, which includes 3M CAC System for Small Hospitals, 3M 360 Encompass System, 3M CodeRyte CodeAssist System, 3M Coding Reference, and 3M Coding Reference Plus Software. The company has a strong presence across the U.S., Asia-Pacific, Europe, and the Middle East and Africa.
OptumInsight is a health information, technology, services, and consulting company, with its business operation across North America, South America, Europe, Asia-Pacific, and the Middle East. The company’s leading position in the computer-assisted coding market is mainly attributed to its innovative technology platform for computer-assisted coding.
In 2013, the company served around 250,000 health professionals and physician practices, 6,200 hospitals and facilities, and around 2,000 health plans. The company has taken various initiatives for its establishment with special focus on inorganic growth strategies such as collaborations and partnerships strategies to enhance its customer base and strengthen its market share in the computer-assisted coding market. For instance, in April 2014, Gwinnett Hospital System (U.S.) collaborated with Optum Inc. to improve revenue, enhance coder productivity, mitigate audit risks, and prepare for ICD-10 with Optum CAC.
The key strategies adopted by players in the global computer-assisted coding market are new product launches, acquisitions, agreements and collaborations, and expansions. Some of the other leading players in this market are Cerner Corporation (U.S.), Precyse Solutions LLC (U.S.), Craneware plc (U.S.), Artificial Medical Intelligence (U.S.), and TruCode (U.S.).
Computer Assisted Coding Market by Software (Natural language processing, Structured input, Integrated), by Application (Automated encoding, Management reporting, Clinical code auditing & analytics), & by End User - Global Forecast to 2019
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