Published on : May 17, 2017
Albany, New York, May 17, 2017: The report includes an assessment of the leading segments of the market, apart from an analysis of the major catalysts and deterrents influencing the growth of the market. The 301 page study also reveals the key opportunities and trends that characterize the global market for physician computer assisted coding.
Computer assisted coding is an ideal solution that helps physicians, ambulatory/ multispecialty market, and billing companies to achieve greater accuracy, enhanced compliance, and faster payments, along with compliance with ICD-10 requirements in order to enable the organizations to gain more revenue. Computer assisted coding of medical data utilizes natural language solutions for linking the notes of the physicians within an electronic patient record to codes that are used for billing Medicaid, Medicare, and private insurance companies.
The ability to link a patient’s diagnostics information to his/her treatment regime as well as drug prescriptions is crucial in the overall enhancement of medical care delivery. Once the healthcare providers can see what conditions are to be followed, and find out if appropriate care is being prescribed optimally, their care delivery undergoes immense transformation. In other words, there is a dramatic improvement in their care provision.
As automation is a key trend prevailing in the healthcare industry, the adoption of physician computer assisted coding will gain traction over the forthcoming period. With the construction of a granular demarcation of patients’ diagnoses, the care delivery system exhibits greater visibility. Greater visibility in turn aids in the harnessing of successful treatments via enhanced adaption.
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By geography, Asia Pacific is likely to emerge as the largest market for physician computer assisted coding. The growing adoption of automation, increasing population, growing per capita incomes of the people, expanding GDPs, rising bulk of investments in healthcare sector, and growing awareness pertaining to the advantages offered by physician computer assisted coding have been the prominent growth drivers of the market. North America and Europe are also slated for substantial growth, owing to the increasing number of initiatives aimed at ramping up health care delivery.
A number of market players have been offering numerous benefits such as improved coder productivity, streamlined compliant ICD-10 coding, and increased compliance via traceability. For instance, Optum360, Inc. leverages its patented natural language processing technology, LifeCode® for accelerating coding processes by recommending not only traceable but also reimbursable codes. Therefore, increased efficiency and accuracy is offered to coders.
Optum, Dolbey, 3M, Nuance, TruCode, Cerner, Craneware, Quest Diagnostics, UnitedHealth Group, Artificial Medical Intelligence, nThrive, and EPICGroup One are some of the key players operating in the global market for physician computer assisted coding.
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