Healthcare IT Medical Coding Market Forecast to 2...

Medical Coding Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Classification System (International Classification of Diseases (ICD), Healthcare Common Procedure Code System (HCPCS)); Component (In-house, Outsourced); End-User (Hospitals, Diagnostic Center, Others)

Report Code: TIPHC00002559 | No. of Pages: 150 | Category: Healthcare IT | Status: Upcoming

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MARKET OVERVIEW

Medical coding is the eversion of healthcare diagnosis, procedures, medical services, and equipment into universal medical alphanumeric codes. The diagnoses and procedure codes are taken from medical record documentation, such as transcription of physician's notes, laboratory and radiologic results, etc. Medical coding professionals help ensure the codes are applied correctly during the medical billing process, which includes abstracting the information from documentation, assigning the appropriate codes, and creating a claim to be paid by insurance carriers.

MARKET SCOPE

The "Global Medical Coding Market Analysis to 2028" is a specialized and in-depth study of the food and beverages industry with a special focus on the global market trend analysis. The report aims to provide an overview of the medical coding market with detailed market segmentation by classification system, component, end user, and geography. The report provides key statistics on the market status of the leading medical coding market players and offers key trends and opportunities in the market.

MARKET SEGMENTATION

  •   Based on classification system, the market is segmented as Healthcare Common Procedure Coding System (HCPCS) and International Classification of Diseases (ICD).
  •   Based on component, the market is segmented as outsourced and in-house.
  •   Based on end user, the market is segmented as hospitals, diagnostic centers, and others.

MARKET DYNAMICS
Drivers

  •   Rising occurrence of insurance frauds and insurance issues associated with misconstrue of medical documents is driving demand for medical coding services, especially in developed countries.
  •   Frequent revision of classification systems, coupled with increasing adoption of coding and billing procedures in hospital revenue cycle management is leading to generate significant growth opportunities for the players in the medical coding market.

Restraints

  •   Data security concerns and lack of trained and skilled professionals is likely to restraint the market growth.
  •  

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The medical coding market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.

The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the medical coding market in these regions.

IMPACT OF COVID-19 ON MEDICAL CODING MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. The explosion of COVID-19 in the region, essentially in countries such as European countries like Italy, Spain, Germany, the U.K., and Russia, and many other countries, has pushed the need for medical coding for the direct examination of the pandemic and the dynamic allocation and administration of medical resources.

MARKET PLAYERS

The report covers key developments in the medical coding market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from medical coding market are anticipated to lucrative growth opportunities in the future with the rising demand for medical coding in the global market.

The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the medical coding market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.

  •   Aviacode, Inc.
  •   Maxim Health Information Services
  •   Medical Record Associates LLC.
  •   Oracle Corporation
  •   Parexel International Corporation
  •   Precyse Solutions, LLC.
  •   Verisk Analytics
  •   STARTEK Health
  •   Outsource Strategies International
  •   Genpact

The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.
TABLE OF CONTENTS

1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Medical Coding Market - By Classification System
1.3.2 Medical Coding Market - By Component
1.3.3 Medical Coding Market - By End-User
1.3.4 Medical Coding Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. MEDICAL CODING MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PEST ANALYSIS
4.2.1 North America - Pest Analysis
4.2.2 Europe - Pest Analysis
4.2.3 Asia-Pacific - Pest Analysis
4.2.4 Middle East and Africa - Pest Analysis
4.2.5 South and Central America - Pest Analysis
4.3. EXPERT OPINIONS
5. MEDICAL CODING MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6. MEDICAL CODING MARKET - GLOBAL MARKET ANALYSIS
6.1. MEDICAL CODING - GLOBAL MARKET OVERVIEW
6.2. MEDICAL CODING - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING
7. MEDICAL CODING MARKET - REVENUE AND FORECASTS TO 2028 - CLASSIFICATION SYSTEM
7.1. OVERVIEW
7.2. CLASSIFICATION SYSTEM MARKET FORECASTS AND ANALYSIS
7.3. INTERNATIONAL CLASSIFICATION OF DISEASES (ICD)
7.3.1. Overview
7.3.2. International Classification of Diseases (ICD) Market Forecast and Analysis
7.4. HEALTHCARE COMMON PROCEDURE CODE SYSTEM (HCPCS)
7.4.1. Overview
7.4.2. Healthcare Common Procedure Code System (HCPCS) Market Forecast and Analysis
8. MEDICAL CODING MARKET - REVENUE AND FORECASTS TO 2028 - COMPONENT
8.1. OVERVIEW
8.2. COMPONENT MARKET FORECASTS AND ANALYSIS
8.3. IN-HOUSE
8.3.1. Overview
8.3.2. In-house Market Forecast and Analysis
8.4. OUTSOURCED
8.4.1. Overview
8.4.2. Outsourced Market Forecast and Analysis
9. MEDICAL CODING MARKET - REVENUE AND FORECASTS TO 2028 - END-USER
9.1. OVERVIEW
9.2. END-USER MARKET FORECASTS AND ANALYSIS
9.3. HOSPITALS
9.3.1. Overview
9.3.2. Hospitals Market Forecast and Analysis
9.4. DIAGNOSTIC CENTER
9.4.1. Overview
9.4.2. Diagnostic Center Market Forecast and Analysis
9.5. OTHERS
9.5.1. Overview
9.5.2. Others Market Forecast and Analysis
10. MEDICAL CODING MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Medical Coding Market Overview
10.1.2 North America Medical Coding Market Forecasts and Analysis
10.1.3 North America Medical Coding Market Forecasts and Analysis - By Classification System
10.1.4 North America Medical Coding Market Forecasts and Analysis - By Component
10.1.5 North America Medical Coding Market Forecasts and Analysis - By End-User
10.1.6 North America Medical Coding Market Forecasts and Analysis - By Countries
10.1.6.1 United States Medical Coding Market
10.1.6.1.1 United States Medical Coding Market by Classification System
10.1.6.1.2 United States Medical Coding Market by Component
10.1.6.1.3 United States Medical Coding Market by End-User
10.1.6.2 Canada Medical Coding Market
10.1.6.2.1 Canada Medical Coding Market by Classification System
10.1.6.2.2 Canada Medical Coding Market by Component
10.1.6.2.3 Canada Medical Coding Market by End-User
10.2. EUROPE
10.2.1 Europe Medical Coding Market Overview
10.2.2 Europe Medical Coding Market Forecasts and Analysis
10.2.3 Europe Medical Coding Market Forecasts and Analysis - By Classification System
10.2.4 Europe Medical Coding Market Forecasts and Analysis - By Component
10.2.5 Europe Medical Coding Market Forecasts and Analysis - By End-User
10.2.6 Europe Medical Coding Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Medical Coding Market
10.2.6.1.1 Germany Medical Coding Market by Classification System
10.2.6.1.2 Germany Medical Coding Market by Component
10.2.6.1.3 Germany Medical Coding Market by End-User
10.2.6.2 France Medical Coding Market
10.2.6.2.1 France Medical Coding Market by Classification System
10.2.6.2.2 France Medical Coding Market by Component
10.2.6.2.3 France Medical Coding Market by End-User
10.2.6.3 Italy Medical Coding Market
10.2.6.3.1 Italy Medical Coding Market by Classification System
10.2.6.3.2 Italy Medical Coding Market by Component
10.2.6.3.3 Italy Medical Coding Market by End-User
10.2.6.4 Spain Medical Coding Market
10.2.6.4.1 Spain Medical Coding Market by Classification System
10.2.6.4.2 Spain Medical Coding Market by Component
10.2.6.4.3 Spain Medical Coding Market by End-User
10.2.6.5 United Kingdom Medical Coding Market
10.2.6.5.1 United Kingdom Medical Coding Market by Classification System
10.2.6.5.2 United Kingdom Medical Coding Market by Component
10.2.6.5.3 United Kingdom Medical Coding Market by End-User
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Medical Coding Market Overview
10.3.2 Asia-Pacific Medical Coding Market Forecasts and Analysis
10.3.3 Asia-Pacific Medical Coding Market Forecasts and Analysis - By Classification System
10.3.4 Asia-Pacific Medical Coding Market Forecasts and Analysis - By Component
10.3.5 Asia-Pacific Medical Coding Market Forecasts and Analysis - By End-User
10.3.6 Asia-Pacific Medical Coding Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Medical Coding Market
10.3.6.1.1 Australia Medical Coding Market by Classification System
10.3.6.1.2 Australia Medical Coding Market by Component
10.3.6.1.3 Australia Medical Coding Market by End-User
10.3.6.2 China Medical Coding Market
10.3.6.2.1 China Medical Coding Market by Classification System
10.3.6.2.2 China Medical Coding Market by Component
10.3.6.2.3 China Medical Coding Market by End-User
10.3.6.3 India Medical Coding Market
10.3.6.3.1 India Medical Coding Market by Classification System
10.3.6.3.2 India Medical Coding Market by Component
10.3.6.3.3 India Medical Coding Market by End-User
10.3.6.4 Japan Medical Coding Market
10.3.6.4.1 Japan Medical Coding Market by Classification System
10.3.6.4.2 Japan Medical Coding Market by Component
10.3.6.4.3 Japan Medical Coding Market by End-User
10.3.6.5 South Korea Medical Coding Market
10.3.6.5.1 South Korea Medical Coding Market by Classification System
10.3.6.5.2 South Korea Medical Coding Market by Component
10.3.6.5.3 South Korea Medical Coding Market by End-User
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Medical Coding Market Overview
10.4.2 Middle East and Africa Medical Coding Market Forecasts and Analysis
10.4.3 Middle East and Africa Medical Coding Market Forecasts and Analysis - By Classification System
10.4.4 Middle East and Africa Medical Coding Market Forecasts and Analysis - By Component
10.4.5 Middle East and Africa Medical Coding Market Forecasts and Analysis - By End-User
10.4.6 Middle East and Africa Medical Coding Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Medical Coding Market
10.4.6.1.1 South Africa Medical Coding Market by Classification System
10.4.6.1.2 South Africa Medical Coding Market by Component
10.4.6.1.3 South Africa Medical Coding Market by End-User
10.4.6.2 Saudi Arabia Medical Coding Market
10.4.6.2.1 Saudi Arabia Medical Coding Market by Classification System
10.4.6.2.2 Saudi Arabia Medical Coding Market by Component
10.4.6.2.3 Saudi Arabia Medical Coding Market by End-User
10.4.6.3 U.A.E Medical Coding Market
10.4.6.3.1 U.A.E Medical Coding Market by Classification System
10.4.6.3.2 U.A.E Medical Coding Market by Component
10.4.6.3.3 U.A.E Medical Coding Market by End-User
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Medical Coding Market Overview
10.5.2 South and Central America Medical Coding Market Forecasts and Analysis
10.5.3 South and Central America Medical Coding Market Forecasts and Analysis - By Classification System
10.5.4 South and Central America Medical Coding Market Forecasts and Analysis - By Component
10.5.5 South and Central America Medical Coding Market Forecasts and Analysis - By End-User
10.5.6 South and Central America Medical Coding Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Medical Coding Market
10.5.6.1.1 Brazil Medical Coding Market by Classification System
10.5.6.1.2 Brazil Medical Coding Market by Component
10.5.6.1.3 Brazil Medical Coding Market by End-User
10.5.6.2 Argentina Medical Coding Market
10.5.6.2.1 Argentina Medical Coding Market by Classification System
10.5.6.2.2 Argentina Medical Coding Market by Component
10.5.6.2.3 Argentina Medical Coding Market by End-User
11. IMPACT OF COVID-19 PANDEMIC ON GLOBAL MEDICAL CODING MARKET
11.1 North America
11.2 Europe
11.3 Asia-Pacific
11.4 Middle East and Africa
11.5 South and Central America
12. INDUSTRY LANDSCAPE
12.1. MERGERS AND ACQUISITIONS
12.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
12.3. NEW PRODUCT LAUNCHES
12.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
13. MEDICAL CODING MARKET, KEY COMPANY PROFILES
13.1. PAREXEL INTERNATIONAL CORPORATION
13.1.1. Key Facts
13.1.2. Business Description
13.1.3. Products and Services
13.1.4. Financial Overview
13.1.5. SWOT Analysis
13.1.6. Key Developments
13.2. STARTEK
13.2.1. Key Facts
13.2.2. Business Description
13.2.3. Products and Services
13.2.4. Financial Overview
13.2.5. SWOT Analysis
13.2.6. Key Developments
13.3. VERISK ANALYTICS, INC.
13.3.1. Key Facts
13.3.2. Business Description
13.3.3. Products and Services
13.3.4. Financial Overview
13.3.5. SWOT Analysis
13.3.6. Key Developments
13.4. ORACLE
13.4.1. Key Facts
13.4.2. Business Description
13.4.3. Products and Services
13.4.4. Financial Overview
13.4.5. SWOT Analysis
13.4.6. Key Developments
13.5. 3M
13.5.1. Key Facts
13.5.2. Business Description
13.5.3. Products and Services
13.5.4. Financial Overview
13.5.5. SWOT Analysis
13.5.6. Key Developments
13.6. MAXIM HEALTH INFORMATION SERVICES
13.6.1. Key Facts
13.6.2. Business Description
13.6.3. Products and Services
13.6.4. Financial Overview
13.6.5. SWOT Analysis
13.6.6. Key Developments
13.7. GENPACT
13.7.1. Key Facts
13.7.2. Business Description
13.7.3. Products and Services
13.7.4. Financial Overview
13.7.5. SWOT Analysis
13.7.6. Key Developments
13.8. AVIACODE
13.8.1. Key Facts
13.8.2. Business Description
13.8.3. Products and Services
13.8.4. Financial Overview
13.8.5. SWOT Analysis
13.8.6. Key Developments
13.9. MRA HEALTH INFORMATION SERVICES.
13.9.1. Key Facts
13.9.2. Business Description
13.9.3. Products and Services
13.9.4. Financial Overview
13.9.5. SWOT Analysis
13.9.6. Key Developments
13.10. OPTUM INC.
13.10.1. Key Facts
13.10.2. Business Description
13.10.3. Products and Services
13.10.4. Financial Overview
13.10.5. SWOT Analysis
13.10.6. Key Developments
14. APPENDIX
14.1. ABOUT THE INSIGHT PARTNERS
14.2. GLOSSARY OF TERMS



The List of Companies

1. Aviacode, Inc.
2. Maxim Health Information Services
3. Medical Record Associates LLC.
4. Oracle Corporation
5. Parexel International Corporation
6. Precyse Solutions, LLC.
7. Verisk Analytics
8. STARTEK Health
9. Outsource Strategies International
10. Genpact
11. Optum Inc.
12. Nuance Communications Inc
13. 3M Company
14. Precision Practice Management
15. Dolbey Systems Inc.
TIPHC00002559
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