Medical Coding Market Size, Share & Trends Analysis Report By Classification System (International Classification of Diseases, Healthcare Common Procedure Code System), By Component, And Segment Forecasts, 2018 - 2025

Published: May, 2018 | Pages: 85 | Publisher: Grand View Research
Industry: Healthcare | Report Format: Electronic (PDF)

The global medical coding market size is expected to reach USD 25.4 billion by 2025, according to a new report by Grand View Research, Inc., registering a 10.0% CAGR during the forecast period. Rising need for a universal language to reduce frauds and misinterpretations associated with insurance claims is driving market growth.

Presently, medical coding is in its initial phase with frequent introduction of advanced versions of classification systems. In addition, number of coders is constantly rising as a result of career opportunities in this field. Escalating demand for coding services, coupled with the aforementioned factors, is driving market growth.

Constant revisions in classification systems and its global acceptance is expected to result in lucrative growth during the forecast years. Rising demand for world-class healthcare services in developing regions is also anticipated to boost adoption of medical coding procedures.

Further key findings from the report suggest:

• The number of professional coders is expected to rise significantly during the forecast period, boosting the number of companies providing platforms for medical coding professionals

• North America is expected to dominate the market throughout the forecast period. High demand for specialist coders and presence of a favorable healthcare system are key factors anticipated to drive market growth

• Asia Pacific is anticipated to exhibit lucrative growth during the forecast period. Increasing number of trained coders and provider companies is anticipated to fuel market growth in the region

• The market is highly fragmented with presence of many local providers offering a wide array of services

• Some of the major companies are Oracle Corporation; STARTEK Health, Aviacode, Inc.; Verisk Analytics; Maxim Health Information Services; Parexel International Corporation; Medical Record Associates LLC; and Precyse Solutions, LLC.

 Table of Contents

Chapter 1 Research Methodology
                   1.1 Information Procurement
                   1.2 Data Analysis
                   1.3 Approaches for market estimation
                       1.3.1 Approach 1: Demand Analysis & Bottom up Approach
                       1.3.2 Approach 2: Top down market estimation
                       1.3.3 Approach 3: Commodity flow and bottom up market estimation
                       1.3.4 Approach 4: KoL perspective based market sizing

Chapter 2 Executive Summary
                   2.1 Market Snapshot

Chapter 3 Industry Outlook
                   3.1 Market Segmentation & Scope
                   3.2 Market Driver Analysis
                   3.3 Market Restraint Anlysis
                   3.4 Penetration & Growth Prospect Mapping
                   3.5 Medical Coding - SWOT Analysis, By Factor (political & legal, economic and technological)
                   3.6 Industry Analysis - Porter's
                   3.7 Company Market Share Analysis: 2017 (%)

Chapter 4 Medical Coding: Classification System Estimates & Trend Analysis
                   4.1 Medical Coding Market: classification System Movement Analysis
                   4.2 International Classification of Diseases (ICD)
                       4.2.1 ICDmarket, 2014 - 2025 (USD Million)
                   4.3 Healthcare Common Procedure Coding System (HCPCS)
                       4.3.1 HCPCS market, 2014 - 2025 (USD Million)

Chapter 5 Medical Coding Market: Component Estimates & Trend Analysis
                   5.1 Medical Coding Market: Component Movement Analysis
                   5.2 In-House
                       5.2.1 In-House Market, 2014 - 2025 (USD Million)
                   5.3 Outsourced
                       5.3.1 Outsourced Market, 2014 - 2025 (USD Million)

Chapter 6 Medical Coding: Regional Estimates & Trend Analysis, by Classification System and Component
                   6.1 Medical Coding Market Share by Region, 2014 & 2025
                   6.2 North America
                       6.2.1 U.S.
                       6.2.2 Canada
                   6.3 Europe
                       6.3.1 U.K.
                       6.3.2 Germany
                   6.4 Asia Pacific
                       6.4.1 China
                       6.4.2 India
                   6.5 Latin America
                       6.5.1 Brazil
                       6.5.2 Mexico
                   6.6 MEA
                       6.6.1 South Africa

Chapter 7 Competitive Landscape
                   7.1 STARTEK Health
                       7.1.1 Company overview
                       7.1.2 Financial performance
                       7.1.3 Product benchmarking
                       7.1.4 Strategic initiatives
                   7.2 Oracle Corporation
                       7.2.1 Company overview
                       7.2.2 Financial performance
                       7.2.3 Product benchmarking
                   7.3 Verisk Analytics
                       7.3.1 Company overview
                       7.3.2 Financial performance
                       7.3.3 Product benchmarking
                       7.3.4 Strategic initiatives
                   7.4 Aviacode, Inc.
                       7.4.1 Company overview
                       7.4.2 Financial performance
                       7.4.3 Product benchmarking
                       7.4.4 Strategic initiatives
                   7.5 Parexel International Corporation
                       7.5.1 Company overview
                       7.5.2 Financial performance
                       7.5.3 Product benchmarking
                       7.5.4 Strategic initiatives
                   7.6 Maxim Health Information Services
                       7.6.1 Company overview
                       7.6.2 Financial performance
                       7.6.3 Product benchmarking
                       7.6.4 Strategic initiatives
                   7.7 Precyse Solutions, LLC.
                       7.7.1 Financial performance
                       7.7.2 Product benchmarking
                       7.7.3 Strategic initiatives
                   7.8 Medical Record Associates LLC.
                       7.8.1 Financial performance
                       7.8.2 Product benchmarking
                       7.8.3 Strategic initiatives

List of Tables

TABLE 1 North America medical coding market, by classification system, 2014 - 2025 (USD Million)
TABLE 2 North America medical coding market, by component, 2014 - 2025 (USD Million)
TABLE 3 U.S. medical coding market, by classification system, 2014 - 2025 (USD Million)
TABLE 4 U.S. medical coding market, by component, 2014 - 2025 (USD Million)
TABLE 5 Canada medical coding market, by classification system, 2014 - 2025 (USD Million)
TABLE 6 Canada medical coding market, by component, 2014 - 2025 (USD Million)
TABLE 7 Europe medical coding market, by classification system, 2014 - 2025 (USD Million)
TABLE 8 Europe medical coding market, by component, 2014 - 2025 (USD Million)
TABLE 9 U.K. medical coding market, by classification system, 2014 - 2025 (USD Million)
TABLE 10 U.K. medical coding market, by component, 2014 - 2025 (USD Million)
TABLE 11 Germany medical coding market, by classification system, 2014 - 2025 (USD Million)
TABLE 12 Germany medical coding market, by component, 2014 - 2025 (USD Million)
TABLE 13 Asia Pacific medical coding market, by classification system, 2014 - 2025 (USD Million)
TABLE 14 Asia Pacific medical coding market, by component, 2014 - 2025 (USD Million)
TABLE 15 China medical coding market, by classification system, 2014 - 2025 (USD Million)
TABLE 16 China medical coding market, by component, 2014 - 2025 (USD Million)
TABLE 17 India medical coding market, by classification system, 2014 - 2025 (USD Million)
TABLE 18 India medical coding market, by component, 2014 - 2025 (USD Million)
TABLE 19 Latin America medical coding market, by classification system, 2014 - 2025 (USD Million)
TABLE 20 Latin America America medical coding market, by component, 2014 - 2025 (USD Million)
TABLE 21 Brazil medical coding market, by classification system, 2014 - 2025 (USD Million)
TABLE 22 Brazil medical coding market, by component, 2014 - 2025 (USD Million)
TABLE 23 Mexico medical coding market, by classification system, 2014 - 2025 (USD Million)
TABLE 24 Mexico medical coding market, by component, 2014 - 2025 (USD Million)
TABLE 25 MEA medical coding market, by classification system, 2014 - 2025 (USD Million)
TABLE 26 MEA medical coding market, by component, 2014 - 2025 (USD Million)
TABLE 27 South Africa medical coding market, by classification system, 2014 - 2025 (USD Million)
TABLE 28 South Africa medical coding market, by component, 2014 - 2025 (USD Million)

List of Figures

FIG. 1 Market research process
FIG. 2 Information procurement
FIG. 3 Primary research pattern
FIG. 4 Market research approaches
FIG. 5 Value chain based sizing & forecasting
FIG. 6 QFD modelling for market share assessment
FIG. 7 Market summary (USD Million)
FIG. 8 Market trends & outlook
FIG. 9 Market segmentation & scope
FIG. 10 Penetration & growth prospect mapping
FIG. 11 SWOT Analysis, By Factor (political & legal, economic and technological)
FIG. 12 Porter's Five Forces Analysis
FIG. 13 Medical Coding Market :Classification System Outlook Key Takeaways
FIG. 14 Medical Coding: Classification System Movement Analysis
FIG. 15 ICD Market, 2014 - 2025 (USD Million)
FIG. 16 HCPCS Market, 2014 - 2025 (USD Million)
FIG. 17 Medical Coding Market: Component Outlook Key Takeaways
FIG. 18 Medical Coding: Component Movement Analysis
FIG. 19 In-House Market, 2014 - 2025 (USD Million)
FIG. 20 Outsourced Market, 2014 - 2025 (USD Million)
FIG. 21 Regional market place: Key takeaways
FIG. 22 Regional outlook, 2014 & 2025
FIG. 23 North America Market, 2014 - 2025 (USD Million)
FIG. 24 U.S. Market, 2014 - 2025 (USD Million)
FIG. 25 Canada Market, 2014 - 2025 (USD Million)
FIG. 26 Europe Market, 2014 - 2025 (USD Million)
FIG. 27 U.K. Market, 2014 - 2025 (USD Million)
FIG. 28 Germany Market, 2014 - 2025 (USD Million)
FIG. 29 Asia Pacific Market, 2014 - 2025 (USD Million)
FIG. 30 China Market, 2014 - 2025 (USD Million)
FIG. 31 India Market, 2014 - 2025 (USD Million)
FIG. 32 Latin America Market, 2014 - 2025 (USD Million)
FIG. 33 Brazil Market, 2014 - 2025 (USD Million)
FIG. 34 Mexico Market, 2014 - 2025 (USD Million)
FIG. 35 MEA Market, 2014 - 2025 (USD Million)
FIG. 36 South Africa Market, 2014 - 2025 (USD Million)
FIG. 37 Strategy framework
FIG. 38 Participant categorization