Medical Coding Market Size, Share, Global Key Players Analysis, Segmentation, Growth 2022-2027 – Instant Interview

According to the latest report of the IMARC group, entitled “Global Medical Coding Market Size, Share, Trends, Growth, Opportunities and Forecast 2022-2027“, the global medical coding market reached a value of US$17.05 billion in 2021. Looking ahead, IMARC Group expects the medical coding market to reach a value of US$32.25 billion US dollars by 2027 growing at a CAGR of 10.60% in 2022-2027.

Medical coding refers to the process of translating diagnoses, procedures, medical services, and healthcare equipment into universal medical alphanumeric codes. It is used to create proper patient care records, streamline medical billing processes, expedite payments to physicians, and identify priority areas of the healthcare system. A medical coder assigns appropriate codes, summarizes information through documents, and creates claims with insurance companies. Accordingly, medical coding finds application in cases of claims management, emergency response systems, and clinical decision support systems by emergency clinics.

Report metric
History: 2016-2021
Base year: 2021
Forecast year: 2022-2027

Medical Coding Market Trends and Drivers:

The global medical coding market is primarily driven by the growing demand for convenient and simple healthcare solutions in hospitals, medical centers and emergency clinics.

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Additionally, governments in different countries are promoting the use of medical coding as it analyzes disease patterns and offers data on national health trends, thereby enabling federal and state governments to address common health issues. and to launch initiatives for the affected population. Medical coding is also a universal language to reduce fraud and deception associated with insurance claims, thus fueling the growth of the market.

Furthermore, the significant growth in the healthcare industry coupled with the increasing occurrences of chronic and lifestyle-related diseases among individuals is also expected to propel the demand for medical coding in the coming years.

Note: We regularly track the direct effect of COVID-19 on the market, as well as the indirect influence of associated industries. These observations will be incorporated into the report.

2022-2027 Global Medical Coding Market Analysis and Segmentation:

Competitive Landscape:

The competitive landscape of the market has been studied in the report along with the detailed profiles of key players operating in the market.

3M Company, Access Healthcare, Aviacode Inc. (GeBBS Healthcare Solutions Inc.), Dolbey Systems Inc., Global Healthcare Resource, Maxim Healthcare Staffing, Medical Record Associates Inc., Nuance Communications Inc. (Microsoft Corporation), Optum Inc. (UnitedHealth Group Incorporated), Outsource Strategies International and The Coding Network LLC.

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The report has segmented the market based on region, component, classification system, and end user.

Breakdown by component:

Breakdown by classification system:

  • International Classification of Diseases (ICD)
  • Healthcare Common Procedure Code System (HCPCS)

Breakdown by end user:

  • Hospitals
  • Diagnostic centers
  • Others

Breakdown by region:

  • North America: (United States, Canada)
  • Asia-Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
  • Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
  • Latin America: (Brazil, Mexico, Others)
  • Middle East and Africa

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Main highlights of the report:

  • Market Performance (2016-2021)
  • Market Outlook (2022-2027)
  • Porter’s Five Forces Analysis
  • Market drivers and success factors
  • SWOT analysis
  • Value chain
  • Complete mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as part of the customization.

About Us:

The IMARC Group is a leading market research firm providing management strategies and market research worldwide. We partner with clients across all industries and geographies to identify their most important opportunities, address their most critical challenges and transform their businesses.

IMARC’s information products include major business, scientific, economic and technological developments for business leaders in pharmaceutical, industrial and high-tech organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverages, travel and tourism, nanotechnology and new processing methods are at the top of the list. company expertise.

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