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Medical Coding Market Growth Insights 2020 – by Key Players, Research by Top Trends, Revenue, Share, Business Size Forecast to 2024

Medical Coding

New Research Report on “Medical Coding Market” presents an in-depth analysis of Medical Coding which includes market size, share, growth, and demand forecast until 2024 (in USD billion). The report sheds light on latest market developments and prominent trends of the market. Medical Coding market report includes research methodology, value chain analysis, industry analysis by the power of suppliers and consumers. Medical Coding market report also includes new upcoming technology of Medical Coding Industry that will help our clients.

Medical Coding Market Covers Major Key Players:

Medical Coding Market Covers manufacturers on the basis of market status, production, consumption, and forecast details.

  • 3M Company
  • Aviacode Inc.
  • Dolbey Systems Inc.
  • Maxim Health Information Services
  • Medical Record Associates LLC
  • Nuance Communications Inc.
  • Optum Inc.
  • Oracle Corporation
  • Parexel International Corporation
  • Precyse Solutions LLC

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    Market Overview:

  • The major factors found propelling the growth of the market include the escalating demand for coding services, rising need for a universal language to reduce frauds and misinterpretations associated with insurance claims, and high demand to streamline hospital billing procedures.
  • There is a high demand for medical billers and coders in the current job market. Thus, coding-related jobs are expanding, due to the growing landscape of the business side of healthcare, along with their efficiency to automate large amounts of work. Hence, the escalating demand for coding jobs is likely to drive the market studied across the world.
  • The technological advancements in the healthcare industry and constantly changing classification systems are expected to create potential revenue opportunities for players operating in the target market over the forecast period.
  • In addition, data security is a major concern for healthcare organizations, and offshore coding companies are also becoming aware of these data security concerns, while understanding that breach in a client’s data is likely to result in the loss of business. Thus, leading offshore coding firms are building a secure environment for the coders to work in.

    Scope of the Report:

    As per the , medical coding is the transformation of healthcare diagnosis, procedures, medical services, and equipment into universal medical alphanumeric codes. Medical coding is thus being increasingly used in the present scenario, to create a proper record of patient care, streamline the medical billing process, accelerate payments to physicians, and identify the healthcare areas that require focus.

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    Key Market Trends:

    International Classification of Diseases (ICD) is the Largest Segment by Classification System that is Expected to Grow During the Forecast Period

    The international classification of diseases (ICD) segment is expected to register a significant share, in terms of revenue, over the forecast period, owing to the increasing demand for trained medical coders. The need for ICD is increasing across the world, owing to a growing prevalence of diseases. Hence this segment is expected to grow in the future, due to the rising growth of medical coding across the world.

    North America Reported the Largest Growth and is Expected to Follow the Same Trend Over the Forecast Period

    The North American market is estimated to hold the largest share, in terms of revenue, over the forecast period, owing to technological advancements and improved healthcare infrastructure in various countries in this region. Therefore, the high demand for specialist coders and the presence of a favorable healthcare system are the key factors that are anticipated to drive the market growth.

    Medical Coding Market Report contents include:

    • Analysis of the laboratory balance market including revenues, future growth, market outlook
    • Historical data and forecast
    • Regional analysis including growth estimates
    • Analyzes the end user markets including growth estimates.
    • Profiles on laboratory balance including products, sales/revenues, and market position
    • Market structure, market drivers and restraints.

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    Detailed TOC of Medical Coding Market Report 2020-2024:

    1 INTRODUCTION
    1.1 Study Deliverables
    1.2 Study Assumptions
    1.3 Scope of the Study

    2 RESEARCH METHODOLOGY

    3 EXECUTIVE SUMMARY

    4 MARKET DYNAMICS
    4.1 Market Overview
    4.2 Market Drivers
    4.2.1 Escalating Demand for Coding Services
    4.2.2 Rising Need for a Universal Language to Reduce Frauds and Misinterpretations Associated with Insurance Claims
    4.2.3 High Demand to Streamline Hospital Billing Procedures
    4.3 Market Restraints
    4.3.1 Changing Regulations Related to Medical Coding
    4.3.2 Data Security Concerns
    4.3.3 Lack of Adequately Equipped IT Professionals
    4.4 Porter’s Five Forces Analysis
    4.4.1 Threat of New Entrants
    4.4.2 Bargaining Power of Buyers/Consumers
    4.4.3 Bargaining Power of Suppliers
    4.4.4 Threat of Substitute Products
    4.4.5 Intensity of Competitive Rivalry

    5 MARKET SEGMENTATION
    5.1 By Classification System
    5.1.1 International Classification of Diseases (ICD)
    5.1.2 Healthcare Common Procedure Code System (HCPCS)
    5.2 By Component
    5.2.1 In-house
    5.2.2 Outsourced
    5.3 By End User
    5.3.1 Hospitals
    5.3.2 Diagnostic Centers
    5.3.3 Other End Users
    5.4 Geography
    5.4.1 North America
    5.4.1.1 United States
    5.4.1.2 Canada
    5.4.1.3 Mexico
    5.4.2 Europe
    5.4.2.1 Germany
    5.4.2.2 United Kingdom
    5.4.2.3 France
    5.4.2.4 Italy
    5.4.2.5 Spain
    5.4.2.6 Rest of Europe
    5.4.3 Asia-Pacific
    5.4.3.1 China
    5.4.3.2 Japan
    5.4.3.3 India
    5.4.3.4 Australia
    5.4.3.5 South Korea
    5.4.3.6 Rest of Asia-Pacific
    5.4.4 Middle East & Africa
    5.4.4.1 GCC
    5.4.4.2 South Africa
    5.4.4.3 Rest of Middle East & Africa
    5.4.5 South America
    5.4.5.1 Brazil
    5.4.5.2 Argentina
    5.4.5.3 Rest of South America

    6 COMPETITIVE LANDSCAPE
    6.1 Company Profiles
    6.1.1 3M Company
    6.1.2 Aviacode Inc.
    6.1.3 Dolbey Systems Inc.
    6.1.4 Maxim Health Information Services
    6.1.5 Medical Record Associates LLC
    6.1.6 Nuance Communications Inc.
    6.1.7 Optum Inc.
    6.1.8 Oracle Corporation
    6.1.9 Parexel International Corporation
    6.1.10 Precyse Solutions LLC

    7 MARKET OPPORTUNITIES AND FUTURE TRENDS

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