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Global Medical Coding Market Research Report (2021 to 2026) - by Classification System, Component, End-user and Region - ResearchAndMarkets.com

·4-min read

DUBLIN, December 01, 2021--(BUSINESS WIRE)--The "Medical Coding Market Research Report by Classification System, by Component, by End User, by Region - Global Forecast to 2026 - Cumulative Impact of COVID-19" report has been added to ResearchAndMarkets.com's offering.

The Global Medical Coding Market size was estimated at USD 16.40 billion in 2020 and expected to reach USD 18.09 billion in 2021, at a CAGR of 10.61% to reach USD 30.06 billion by 2026.

Competitive Strategic Window:

The Competitive Strategic Window analyses the competitive landscape in terms of markets, applications, and geographies to help the vendor define an alignment or fit between their capabilities and opportunities for future growth prospects. It describes the optimal or favorable fit for the vendors to adopt successive merger and acquisition strategies, geography expansion, research & development, and new product introduction strategies to execute further business expansion and growth during a forecast period.

FPNV Positioning Matrix:

The FPNV Positioning Matrix evaluates and categorizes the vendors in the Medical Coding Market based on Business Strategy (Business Growth, Industry Coverage, Financial Viability, and Channel Support) and Product Satisfaction (Value for Money, Ease of Use, Product Features, and Customer Support) that aids businesses in better decision making and understanding the competitive landscape.

Market Share Analysis:

The Market Share Analysis offers the analysis of vendors considering their contribution to the overall market. It provides the idea of its revenue generation into the overall market compared to other vendors in the space. It provides insights into how vendors are performing in terms of revenue generation and customer base compared to others. Knowing market share offers an idea of the size and competitiveness of the vendors for the base year. It reveals the market characteristics in terms of accumulation, fragmentation, dominance, and amalgamation traits.

The report provides insights on the following pointers:

1. Market Penetration: Provides comprehensive information on the market offered by the key players

2. Market Development: Provides in-depth information about lucrative emerging markets and analyze penetration across mature segments of the markets

3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments

4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players

5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments

The report answers questions such as:

1. What is the market size and forecast of the Global Medical Coding Market?

2. What are the inhibiting factors and impact of COVID-19 shaping the Global Medical Coding Market during the forecast period?

3. Which are the products/segments/applications/areas to invest in over the forecast period in the Global Medical Coding Market?

4. What is the competitive strategic window for opportunities in the Global Medical Coding Market?

5. What are the technology trends and regulatory frameworks in the Global Medical Coding Market?

6. What is the market share of the leading vendors in the Global Medical Coding Market?

7. What modes and strategic moves are considered suitable for entering the Global Medical Coding Market?

Market Dynamics

Drivers

  • Rising need for a universal language in medical documents in order to streamline hospital billing procedures

  • Rising occurrence of insurance frauds and insurance issues associated with misinterpretation of medical documents

  • Regulation enforcement by HIPAA and EU healthcare policy

Restraints

  • Concern related to data security

  • Limited technology expertise

Opportunities

  • Integration of coding and billing procedures in hospital Revenue Cycle Management and EHR

  • Growing penetration of private healthcare insurance companies in the Asia Pacific

  • Booming medical tourism in countries such as China, India, Malaysia, and Thailand

Challenges

  • Third-party vendor lock-in

Companies Mentioned

  • 3M Company

  • AcerHealth Inc.

  • Alpha Coding Experts, LLC

  • Aveanna Healthcare, LLC

  • EqualizeRCM Services

  • IBM Corporation

  • iMedX, Inc.

  • Infinix Group LLC

  • Medical Record Associates LLC

  • Nuance Communications, Inc.

  • Omega Healthcare Management Services Private Limited

  • Optum, Inc.

  • Oracle Corporation

  • Parexel International Corporation

  • Precyse Solutions LLC

  • QWay Health LLC

  • Vee Technologies Private Limited

  • Verisk Analytics, Inc.

For more information about this report visit https://www.researchandmarkets.com/r/lh72ed

View source version on businesswire.com: https://www.businesswire.com/news/home/20211201005475/en/

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