Report ID :10347023 |
Published Date : 21 Oct 2022 |
Report Format : |
Delivery Timeline :48-72 Business Hours
United States (U.S.) Medical Coding Market Analysis 2019-2028
Medical coding is the translation of healthcare procedures, diagnoses, medicals services, and equipment into universal medical alphanumeric codes by medical transcriptionists. The United States (U.S.) medical coding market is forecasted to grow with a CAGR of 8.8% during the forecast period, i.e., 2020-2028. Factors such as the advent in data enrichment tools, such as mobile health or mHealth and electronic health records (EHRs), among others, coupled with the growing utilization of data analytics, and the rising implementation of IT in the healthcare sector for real-time data monitoring, are anticipated to contribute to the market growth during the forecast period. Additionally, factors such as the growing need for streamlining revenue cycle management in healthcare organizations, along with the opportunities generated for medical coding backed by the rising number of healthcare frauds, are anticipated to drive the market growth in the coming years.
The United States (U.S.) medical coding market consists of numerous segments, which include segmentation by service mode, solution, classification, patient type and by end-user. The patient type segment is further divided into inpatient and outpatient, out of which, the inpatient segment with respect to hospitals registered the largest market share. Inpatient medical coding deals with the maintenance of the extensive and intricate patient records. These records also include diagnostic tests and treatments that are conducted with the patients during their stay in the hospital.
Some of the prominent leaders in the United States (U.S.) medical coding market are 3M, Conifer Health Solutions, LLC, Coding Network, Maxim Healthcare Group, Aviacode Inc., Managed Outsource Solutions, and I-conic Solutions.
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