Douglas Insights
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.
Isle Of Man, Nov. 15, 2022 (GLOBE NEWSWIRE) — The Douglas Insights Comparison Engine has added computer-assisted coding market research reports to its collection of public and private market research reports. Using the newly upgraded comparison engine, businesses, market researchers, economists, and other interested parties can efficiently select research reports based on report length, purchase cost, publisher name, and table of contents. The market research reports on computer-assisted coding include essential market-related information, such as 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.
Market Drivers
The increased use of Electronic Health Records (EHR) in various medical settings has facilitated the transfer of patient information. The use of CAC for such records is a major market growth driver for CAC. In addition, numerous regulatory requirements have been incorporated into the healthcare system to ensure the security of patient data. Using CAC systems to manage data in medical settings ensures data security, making it an all-encompassing solution for the entire healthcare system.
The high costs associated with deploying such systems throughout the healthcare system are likely to be a significant factor impeding the growth of the CAC market. Major corporations are working on the issue of research and development of better systems, but cost reduction could significantly impede their expansion. In addition, a lack of trained and qualified personnel is an issue that must be addressed during the deployment process, as the misuse of CAC may lead to additional cyber issues.
The healthcare service providers’ reluctance to adopt the CAC system may present an impediment during the deployment of CAC. Numerous healthcare services that rely on conventional practices and have insufficient personnel may choose not to digitalize their systems.
Despite obstacles and potential growth impeding factors, the CAC market is expected to grow during the forecast period due to innovative solutions and ongoing research into Natural Language Processing-enabled CAC solutions (NLP).
Multiple factors, including the digitization of the healthcare industry, are driving the global CAC market’s expansion. The market is segmented by application, end-user type, product, region, and delivery method. Numerous application and product types effectively diversify the market so that diverse end-users, such as physicians, hospitals, clinical laboratories, etc., can access unique solutions across the globe.
Nonetheless, North America dominates the market due to the presence of numerous industry titans in the coding sector. These regions are likely to produce innovative healthcare solutions, which will contribute to expanding the CAC market in these regions. Despite that, the Asia Pacific region is also expected to significantly contribute to the CAC market growth as the demand for coding in the healthcare sector and the usage of EHRs increase.
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