08 October 2022
Douglas Insights Comparison Engine has diversified its reserve of public and private market research reports with the introduction of computer-assisted coding market research reports. Businesses, market researchers, economists, and other interested parties can use the newly upgraded comparison engine to compare the research reports based on length of reports, purchase costs, publisher name, and table of contents for efficient selection. Computer-assisted coding market research reports consist of essential market-related information, including market trends, growth factors, market restraints, potentials, and leading geographical regions.
Computer-assisted coding is a software-based service provided to medical facilities for generating accurate medical codes. The software takes medical records and documentation as input and converts them into applicable medical codes for effective reporting. With the help of CAC software, healthcare service providers can streamline their coding process and make medical reports easily accessible with quality metrics in place.
The increased use of Electronic Health Records (EHR) in numerous medical settings has made transferring patient information relatively easy and efficient. The usage of CAC for such records is a leading growth factor for the CAC market. Furthermore, numerous regulatory requirements have made their way into the healthcare system to assure patient data security. Using CAC systems to manage data in medical settings also ensures data security, making it a comprehensive solution throughout the healthcare system.
A significant restraint that will likely impede the growth of the CAC market is the high costs attached to the deployment of such systems across the healthcare system. Major companies are working towards the issue of research and development of better systems, but curbing the cost might significantly hinder the growth. Moreover, the lack of trained and qualified staff is also an issue that must be tackled during the deployment process, as misuse of CAC may give rise to other cyber issues.
A roadblock that may present itself during the deployment of CAC is the refusal to adopt the system by the healthcare service providers. Numerous healthcare services with conventional methods and a lack of staff may want to stick to their routines instead of digitalizing their systems.
Despite the challenges and potential growth impeding factors, the CAC market is showing promising growth during the forecast period due to innovative solutions ad constant research for finding ways to enable CAC solutions using Natural Language Processing (NLP).
The global CAC market is showing promising growth due to various driving factors, including digitization in the healthcare sector. The market is segmented by application, end-user type, product, region and mode of delivery. The numerous application and product types diversify the market effectively so that unique solutions are available across the globe to different end-users such as physicians, hospitals, clinical laboratories, etc.
However, North America is leading the market due to the presence of numerous big names in the coding industry. Innovative healthcare solutions are likely to emerge from those regions, contributing to the growth of the CAC market in that area. Despite that, the Asia Pacific region is also expected to show a significant contribution to the CAC market growth as the demand for coding in the healthcare sector and the usage of EHRs increase.
Companies such as Dolbey Systems Inc., Streamline Healthcare Solutions, McKesson Corporation, and Craneware, Inc. are set to contribute significantly to CAC market growth. Nuance Communications, Inc., TruCode LLC, Cerner Corporation, 3M Inc., Artificial Medical Intelligence and Optum Inc. are also expected to introduce new market trends during the forecast period.
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