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U.S. Medical Coding Market Size, Share & Trends Analysis Report By Classification System (ICD, HCPCS, CPT), By Component (In-house, Outsourced), And Segment Forecasts, 2019 - 2025

Published: Jan, 2019 | Pages: 80 | Publisher: Grand View Research
Industry: ICT | Report Format: Electronic (PDF)

The U.S. medical coding market size is expected to reach USD 7.0 billion by 2025 expanding at a CAGR of 9.3%, according to a new report by Grand View Research, Inc. There is a high demand for coding services in countries, which have high healthcare coverage and/or mandatory health insurance, as they are used in settling health insurance claims. Every individual has a unique combination of human genome. Although most of the time this variation does not affect the normal dosage regimen, it has an impact in the long term. Availability of several data enrichment tools, such as Electronic Health Records (EHRs) and m-Health, has reduced the communication gap between healthcare professionals and patients. These tools generate tremendous amount of data, which can be used for personalized treatment after translating them into coded language.

It can also be used for increasing the efficiency of various procedures including insurance claims, healthcare analytics, and medical billing. Many developed economies, such as U.S., are extensively using social media for increasing awareness about advanced healthcare. Thus, the advent of social media analytics is also anticipated to help enhance the efficiency in healthcare analytics. U.S. spends almost double the average of the global healthcare spending, which is expected to propel the market further.Major companies incorporate various strategies to gain competitive edge over others. For instance, recently Verisk Insurance Solutions started a joint venture with Guidewire to launch its ISO ClaimSearch accelerator. This initiative has provided Guidewire's customers instant access to essential analytics of ISO ClaimSearch.

Further key findings from the study suggest:

•	Outsourced services are anticipated to witness the fastest CAGR over the forecast period due to their low costs and better quality than in-house services

•	By classification system, the ICD segment is expected to lead the market due first-line use of these systems in classification of medical coding data

•	Some of the major companies in the U.S. medical coding market are STARTEK Health; Oracle Corporation; Verisk Analytics; Aviacode, Inc.; Parexel International Corporation; Maxim Health Information Services; Precyse Solutions, LLC.; and Medical Record Associates LLC.
 Table of Contents

Chapter 1 Methodology and Scope
                 1.1 Research Methodology
                 1.2 Information or Data Analysis
                 1.3 Research Scope and Assumptions
                 1.4 List of Data Sources

Chapter 2 Executive Summary
                 2.1 Market Summary

Chapter 3 Market Variables, Trends & Scope
                 3.1 Market Segmentation

Chapter 4 Industry Outlook
                 4.1 Market variable Analysis
                     4.1.1 Rising need to curb healthcare cost
                     4.1.2 Growing demand for personalized medication and treatment
                     4.1.3 Rising impact of social media on healthcare
                 4.2 Market Restraint Analysis
                     4.2.1 Data privacy and theft issues

Chapter 5 Business Environment Analysis
                 5.1 Swot analysis; by factor (political & legal, economic and technological)
                 5.2 Porter's five forces analysis

Chapter 6 U.S. Medical Coding Market: Classification System Business Analysis
                 6.1 U.S. Medical Coding Market: Classification System Movement Analysis
                     6.1.1 ICD
                ICD market estimates and forecast, 2014 - 2025
                     6.1.2 HCPCS
                HCPCS market estimates and forecast, 2014 - 2025
                     6.1.3 CPT
                CPT market estimates and forecast, 2014 - 2025

Chapter 7 U.S. Medical Coding Market: Component Business Analysis
                 7.1 U.S. MEdical Coding Market: Component Movement Analysis
                     7.1.1 In-House
                In-house market estimates and forecast, 2014 - 2025
                     7.1.2 Outsourced
                Outsourced market estimates and forecast, 2014 - 2025

Chapter 8 Company Profile
                 8.1 STARTEK Health
                     8.1.1 Company overview
                     8.1.2 Financial performance
                     8.1.3 Product benchmarking
                 8.2 Oracle Corporation
                     8.2.1 Company overview
                     8.2.2 FInancial performance
                     8.2.3 Product benchmarking
                 8.3 Verisk Analytics
                     8.3.1 Company overview
                     8.3.2 Financial performance
                     8.3.3 Product benchmarking
                     8.3.4 Strategic initiatives
                 8.4 Aviacode, Inc.
                     8.4.1 Company overview
                     8.4.2 Product benchmarking
                     8.4.3 Strategic initiatives
                 8.5 Parexel International Corporation
                     8.5.1 Company overview
                     8.5.2 Product benchmarking
                 8.6 Maxim Health Information Services
                     8.6.1 Company overview
                     8.6.2 Product benchmarking
                     8.6.3 Strategic initiatives
                 8.7 Precyse Solutions, LLC
                     8.7.1 Company overview
                     8.7.2 Product benchmarking
                 8.8 Medical Record Associates LLC.
                     8.8.1 Company overview
                     8.8.2 Product benchmarking
                     8.8.3 Strategic Initiatives
List of Tables

Table 1 List of abbreviation
Table 2 U.S. medical coding market, by classification 2014 - 2025 (USD Million)
Table 3 U.S. medical coding market, by component 2014 - 2025 (USD Million)

List of Figures

Fig. 1 U.S. Medical coding market snapshot
Fig. 2 U.S. medical coding market segmentation
Fig. 3 U.S. medical coding market driver impact
Fig. 4 Per capita health expenditure, USD, (2011 - 2014)
Fig. 5 Usage of social media in healthcare
Fig. 6 U.S. medical coding market driver impact
Fig. 7 SWOT Analysis, By Factor (Political & legal Economic and technological)
Fig. 8 Porter's five forces analysis
Fig. 9 U.S. medical coding market: Classification systems outlook and key takeaways
Fig. 10 U.S. medical coding classification systems movement analysis
Fig. 11 ICD market estimates and forecast, 2014 - 2025
Fig. 12 HCPCS market estimates and forecast, 2014 - 2025
Fig. 13 CPT market estimates and forecast, 2014 - 2025
Fig. 14 U.S. medical coding market: component outlook and key takeaways
Fig. 15 U.S. medical coding market: Component movement analysis
Fig. 16 In-house market estimates and forecast, 2014 - 2025
Fig. 17 Outsourced market estimates and forecast, 2014 - 2025 

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