The Global Computer Assisted Coding Market is expected to register a CAGR of nearly 11.5% during 2018-2023 (the forecast period).
In recent years, EHRs (Electronic Health Records) have implemented by an ever-increasing number of hospitals around the globe. EHR implementation initiatives by the government are increasing the EHR adoption by the hospitals.
The United States is one of the countries which has experienced a remarkable increase in electronic health record adoption, this is mainly due to the Health Information Technology for Economic and Clinical Health (HITECH) Act and the Centers for Medicare and Medicaid Services (CMS) EHR Incentive Program.
The HITECH Act provoked healthcare organizations to implement these EHR systems by offering an incentive program to eligible short-term acute care hospitals. Aiming to increase effectiveness and efficiency in healthcare, various computer and information technologies are being adopted and implemented by providers, administrators, and consumers in the healthcare industry.
Electronic health records (EHRs), a key component of these health information technologies, have been implemented in healthcare organizations at all levels, from academic medical centers to multi-specialty medical groups to solo practices. Usability of electronic health record (EHR) systems is critical to improving patient safety and quality of care. The annual rate of EHR adoption for eligible hospitals increased from 3.2 percent before the act to 14.2 percent afterward.
With the increasing implementation of EHR systems, the medical assisted coding market is also expected to increase the market growth as this EHR requires the computer-assisted coding.
Other factors which are driving the computer assisted coding market growth are increasing utilization of CAC solutions to curtail the rising healthcare costs and increasing regulatory requirements for patient data management.
Key Developments in the Market
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Key Topics Covered
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