The U.S. medical coding market size is expected to
reach USD 7.0 billion by 2025 expanding at a CAGR of 9.3%, according to a new
report by Grand View Research, Inc. There is a high demand for coding services
in countries, which have high healthcare coverage and/or mandatory health
insurance, as they are used in settling health insurance claims. Every
individual has a unique combination of human genome. Although most of the time
this variation does not affect the normal dosage regimen, it has an impact in
the long term. Availability of several data enrichment tools, such as
Electronic Health Records (EHRs) and m-Health, has reduced the communication
gap between healthcare professionals and patients. These tools generate
tremendous amount of data, which can be used for personalized treatment after
translating them into coded language.
It can also be used for increasing the
efficiency of various procedures including insurance claims, healthcare
analytics, and medical billing. Many developed economies, such as U.S., are
extensively using social media for increasing awareness about advanced
healthcare. Thus, the advent of social media analytics is also anticipated to
help enhance the efficiency in healthcare analytics. U.S. spends almost double
the average of the global healthcare spending, which is expected to propel the
market further.Major companies incorporate various strategies to gain
competitive edge over others. For instance, recently Verisk Insurance Solutions
started a joint venture with Guidewire to launch its ISO ClaimSearch
accelerator. This initiative has provided Guidewire’s customers instant access
to essential analytics of ISO ClaimSearch.
Browse full research report on U.S. Medical Coding Market: https://www.grandviewresearch.com/industry-analysis/us-medical-coding-market
Further key findings from the study suggest:
- Outsourced services are anticipated to witness the fastest
CAGR over the forecast period due to their low costs and better quality
than in-house services
- By classification system, the ICD segment is expected to lead
the market due first-line use of these systems in classification of
medical coding data
- Some of the major companies in the U.S. medical coding market
are STARTEK Health; Oracle Corporation; Verisk Analytics; Aviacode, Inc.;
Parexel International Corporation; Maxim Health Information Services;
Precyse Solutions, LLC.; and Medical Record Associates LLC.
Browse
request sample of this report by Grand View Research: https://www.grandviewresearch.com/industry-analysis/us-medical-coding-market/request/rs1
Grand View Research has segmented the U.S. medical coding market
on the basis of classification system and component:
U.S. Medical Coding Classification System Outlook (Revenue, USD
Million, 2014 - 2025)
- ICD
- HCPCS
- CPT
U.S. Medical Coding Component Outlook (Revenue, USD Million, 2014
- 2025)
- In-house
- Outsourced
About
Grand View Research
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, we offer market intelligence studies
ensuring relevant and fact-based research across a range of industries, from
technology to chemicals, materials and healthcare.
For
more info visit @ https://www.grandviewresearch.com
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