United States (US) Medical Coding Market Analysis, Scope – Company Profile, Opportunity and Challenge to 2028

New York, USA, Thursday, March 17, 2022 07:37:36 / Comserve Inc. / — The National Health Care Anti-Fraud Association (NHCAA), in one of these statistics, said that 3.6 trillion dollars were spent on health care in the United States in 2018.

Research Nester has published a report titled “Medical Coding Market in the United States (US) – Demand Analysis and Opportunity Outlook 2028” which also includes some of the major market analysis parameters such as drivers industry growth, restraints, supply and demand risk, market attractiveness, year-on-year (YOY) growth comparisons, market share comparisons, BPS analysis, SWOT analysis and Porter’s five-force model.

The National Health Care Anti-Fraud Association (NHCAA), in one such statistic, stated that $3.6 trillion was spent on healthcare in the United States in 2018. It was further estimated that Financial loss caused by healthcare fraud has been recorded at around 3% of total healthcare expenditure.

Statistics depict the growing number of healthcare frauds in the United States. This can be attributed to the growing number of misrepresentations and misrepresentations submitted to insurance companies to receive payment. Medical coding helps healthcare organizations optimize their revenue cycle management. With the frequent updates and revision of the classification systems used in medical coding, the likelihood of healthcare frauds is expected to decrease significantly, which in turn is expected to boost the market growth. Additionally, the growing government involvement in health care reimbursement services for Medicaid and Medicare patients, as well as the growing use of computer technology in the health sector and increasing adoption of the Internet of medical objects (IoMT) is expected to further drive the market. growth in the years to come.

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The United States (US) Medical Coding Market is expected to grow with a CAGR of 8.8% during the forecast period, i.e., 2020-2028, supported by the growing use of data analysis and the advent of data enrichment tools, such as mobile. health or mHealth and Electronic Health Records (EHR), among others. Further, the market is expected to cross USD 4,500 million by the end of 2021 from a recorded value of USD 4,050.4 million in 2019.

The United States (US) Medical Coding Market is segmented by Classification into International Classification of Diseases (ICD), Healthcare Common Procedural Code System (HCPCS), Current Procedural Terminology (CPT), International Classification Functioning, Disability and Health (ICF), and Diagnosis Related Groups (DRG). Among these segments, the International Classification of Diseases (ICD) segment with respect to diagnostic centers is expected to register the largest market share of 67.85% in 2021. The World Health Organization (WHO), recently (May 2019) announced the latest version of ICD-11, which would come into effect on 1st from January 2022.

However, concerns regarding data security and privacy of patient information, along with increasing number of cyber crimes are some of the additional factors expected to limit the growth of the United States (US) medical coding market during the forecast period.

This report also provides the existing competitive scenario of some of the major United States (US) Medical Coding Market players which includes company profiling of 3M MMMConifer Health Solutions, LLC, Coding Network, Maxim Healthcare Group, Aviacode Inc., Managed Outsource Solutions and I-conic Solutions.

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Profiling contains key business information, which includes an overview of businesses, products and services, key financial data, and recent news and developments. In conclusion, the report entitled “Medical coding of the United States (US) Marlet – Analysis of demand and prospects for 2028 opportunities”, analyzes the entire United States (US) Medical Coding industry to help new entrants understand the market details. In addition to this, this report also guides existing players looking for expansion and major investors looking for investments in the United States (USA) Medical Coding market in the near future.

About Research Nester:

Research Nester is a leading one-stop service provider of strategic market research and consulting with an unbiased and unparalleled approach to helping global industry players, conglomerates and executives make sound investment and expansion decisions. future by providing them with qualitative market information and strategies. while avoiding future uncertainties. We believe in honesty and hard work which we believe is reflected in our work ethic. Our vision is not only to earn the trust of our customers but also to be respected by our employees and appreciated by our competitors.

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Research Nester
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