(EMAILWIRE.COM, January 11, 2019 ) According to the new market research report "Computer Assisted Coding Market by Software (Natural Language Processing, Structured Input, Integrated Systems), Service (Support, Education & Training), Application (Automated Encoding, Clinical Coding Audit, Management Reporting) - Global Forecast to 2022", published by MarketsandMarkets™, The global computer-assisted coding market is valued at USD 2.76 Billion in 2017 and is expected to register a CAGR of 11.5% to reach to USD 4.75 Billion by 2022.

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The growth of the market can be attributed to factors such as the growing adoption of CAC solutions in North America due to the implementation of International Classification of Diseases (ICD)-10 standards, increasing implementation of EHR systems, and increasing utilization of CAC solutions to curtail the soaring healthcare costs.

The computer-assisted coding market in this report is segmented on the basis of products and services, application, mode of delivery, end user, and region. Based on products and services, the market is segmented into solutions and services. The CAC services segment is expected to register the highest CAGR during the forecast period. The growing demand for CAC services is resulting from the larger implementation of electronic health record (EHR) systems, rising transition from ICD-9 to ICD-10-CM standards, and the increasing demand for advanced coding systems.

On the basis of mode of delivery, the global computer-assisted coding market is segmented into web-based solutions, cloud-based solutions, and on-premise solutions. The cloud-based solutions segment is expected to grow at the highest CAGR during the forecast period. This is attributed to the benefits of cloud-based solutions which do not require upfront capital investments for hardware and capacity flexibility. This is the major factor responsible for the high growth in this market.

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On the basis of application, the market is categorized into three types—automated computer-assisted encoding, management reporting and analytics, and clinical code auditing. The automated computer-assisted encoding segment is expected to grow at the highest rate during the forecast period. Growth in this market is largely driven by the rising need to minimize coding errors, reduce healthcare expenditure, and the mandate to adopt the 10th revision of the ICD-10 standards in the U.S.

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The major end users of computer-assisted coding are healthcare providers and healthcare payers. The providers are further segmented into hospitals, physicians’ practices, clinical laboratories, academic medical centers, and other healthcare institutions. In 2016, the hospitals segment accounted for the largest share of the global computer-assisted coding market, and it is expected to grow at the highest rate during the forecast period. The high growth rate of the hospitals segment can be primarily attributed to the successful and high adoption of computer-assisted coding to curtail healthcare delivery costs while maintaining compliance.

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