Medical Coding Market Insights – Demand & Future Scope Including Top Players forecast to 2028
Global Medical Coding Market
The growing incidence of insurance fraud and insurance concerns associated with the misinterpretation of medical records is driving the demand for medical coding services, especially in emerging countries. During the forecast era, it is expected that regular revision of classification schemes, combined with growing implementation of coding and billing procedures in hospital sales cycle management, would create a number of lucrative growth opportunities.
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Demand for medical coding services is exceptionally higher in economies with compulsory health insurance or universal healthcare schemes. The insurance sector has a history of a significant number of recorded frauds, as the main use of such schemes is in health insurance claims. Hope Pharmacy (Houston), Fiango Home Healthcare (Texas), Tenet Healthcare (Texas), and health insurance (Texas) are some of the prominent frauds related to health insurance.
The rise in the prevalence of medical coding facilities in hospitals is also a significant factor contributing to the growth of the global medical coding market. In addition, growing appetite is also a motivating force for the medical coding industry for uniform billing procedures. The potential for the medical coding industry is an increase in demand for coding services, combined with the factors listed above.
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Likewise, the growing need for a common language and the technological growth in medical fields are some factors responsible for the growth of the global medical coding market. The increasing number of coders is expected to increase job prospects and the growing interest of healthcare and hospital institutions in medical coding is expected to further raise the overall industry demand for the global medical coding market during the projected period.
The International Classification of Diseases is intended to map health disorders together with unique differences to related general categories, assigning a specified code up to six characters in length to these categories.
Key players of the global medical coding market include STARTEK Health, Verisk Analytics, Oracle Corporation, Aviacode, Inc., Maxim Health Information Services, Parexel International Corporation, Medical Record Associates LLC., nThrive, Inc among others.
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Key segments of the global medical coding market
Classification System Overview, 2018-2028 (USD Million)
- International Classification of Diseases (ICD)
- The Healthcare Common Procedure Coding System (HCPCS)
Component 2018-2028 (USD Million)
Regional Overview, 2018-2028 (USD Million)
- North America
- United Kingdom
- Asia Pacific
- South America
- Middle East & Africa
Reason to purchase this Medical Coding Market Report: –
1) Global Medical Coding Market trend, Market Size Estimates, Industry Scope, and Division.
2) Competitive analysis is specified for eminent Medical Coding players, price structures and value of production.
3) Focuses on the key Medical Coding manufacturers, to study the capacity, production, value, market share and development plans in the future.
4) Global Medical Coding Market Drivers, Opportunities, Emerging Sectors, and Recent Plans and Policies are shown.
5) The current status of the global Medical Coding Market, current market & the two regional and region levels.
6) To analyze the opportunities in the market for stakeholders by identifying the high growth segments
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