AI In Medical Coding Market Size, Share & Trends Analysis Report By Component (In-house, Outsourced), By Region (North America, Europe, APAC, Latin America, MEA), And Segment Forecasts, 2023

The global AI in medical coding market size is expected to reach USD 5.71 billion by 2030, based on a new report by Grand View Research, Inc. The market is expected to grow at a CAGR of 13.7% from 2023 to 2030. Several drivers propel artificial intelligence (AI) in medical coding, such as the increasing complexity of healthcare coding processes. The growing volume of healthcare data necessitates advanced technologies to streamline and automate coding operations. AI can efficiently analyze large amounts of data, identify patterns, and accurately assign codes, improving efficiency and reducing billing errors.

The COVID-19 pandemic significantly impacted AI in the medical coding industry, driven by the increased volume of healthcare data and the need for efficient processes to manage the surge in COVID-19 cases. This has led to the accelerated adoption of AI-powered solutions. Furthermore, the shift to remote work and the rise of telehealth services have amplified the demand for AI in medical coding to enable remote access and analysis of medical records. These pandemic-driven changes in the market are projected to have a lasting impact, fueling substantial growth in the coming years.

Automated medical coding offers numerous benefits to healthcare providers, improving efficiency, accuracy, and revenue cycle management. By leveraging artificial intelligence and machine learning algorithms, automated systems can quickly and accurately analyze medical documentation, extract relevant information, and assign appropriate codes. This eliminates the need for manual coding, saving time and reducing the risk of human errors. Automated systems also enhance compliance with coding guidelines and regulations, reducing the chances of audits and denials. Furthermore, it improves revenue cycle management by accelerating the coding process, optimizing reimbursement, and reducing backlogs. With automated medical coding, healthcare providers can streamline operations, focus on patient care, and achieve better financial outcomes.

Moreover, key players in the market are launching innovative solutions and services to maintain a competitive edge. For instance, in November 2020, Diagnoss introduced an AI assistant to reduce medical coding errors, addressing a critical challenge in healthcare billing processes. The AI assistant utilizes advanced algorithms to analyze medical documentation, identify potential errors, and provide real-time suggestions for accurate coding. The solution aims to improve accuracy, reduce claim denials, and optimize revenue cycle management. This innovative solution could enhance operational efficiency and financial performance for healthcare providers, ultimately improving patient care and cost savings.

Similarly, in September 2022, AGS Health unveiled an artificial intelligence platform designed for end-to-end revenue cycle management and medical coding. This innovative platform incorporates AI capabilities to optimize various aspects of the revenue cycle, including medical coding, billing, claims management, and reimbursement. By leveraging advanced algorithms and automation, AGS Health's AI platform aims to enhance operational efficiency, reduce billing errors, accelerate payment cycles, and improve overall revenue performance for healthcare providers. This launch shows the growing adoption of AI in the healthcare industry and its potential to transform medical coding processes.

AI In Medical Coding Market Report Highlights

Based on component, the outsourced segment accounted for the highest revenue share in 2022. Its revenue share was 66.8% and is expected to grow at the fastest CAGR of 14.5% over the forecast period
Healthcare providers opt to outsource their medical coding needs to minimize administrative expenses. This approach aids in cost reduction, time savings, and the streamlining of workflows
North America held the majority share of 31.8% in 2022. Due to technological advancements and improved healthcare infrastructure, the market in North America is projected to have a significant share throughout the forecast period

Product Code: GVR-4-68040-098-0

Chapter 1 Methodology and Scope

1.1 Market Segmentation And Scope
1.2 Market Definition
1.3 Research Methodology
- 1.3.1 Information Procurement
  - 1.3.1.1 Purchased Database
  - 1.3.1.2 GVR's Internal Database
- 1.3.2 Primary Research:
1.4 Research Scope And Assumptions
1.5 Estimation Process
1.6 List Of Data Sources

Chapter 2 Executive Summary

2.1 Artificial Intelligence in Medical Coding Market Outlook
2.2 Artificial Intelligence in Medical Coding Market Segment Outlook
2.3 Artificial Intelligence in Medical Coding Market Competitive Insights
2.4 Artificial Intelligence in Medical Coding Market Snapshot

Chapter 3 Artificial Intelligence in Medical Coding Market Variables, Trends & Scope

3.1 Penetration And Growth Prospect Mapping
3.2 Pricing Analysis
3.3 User Perspective Analysis
- 3.3.1 Consumer Behavior Analysis
- 3.3.2 Market Influencer Analysis
3.4 Market Lineage Outlook
- 3.4.1 Parent Market Outlook
- 3.4.2 Ancillary Market Outlook
3.5 Regulatory Framework
3.6 Market Dynamics
- 3.6.1 Market Driver Analysis
- 3.6.2 Market Restraint Analysis
- 3.6.3 Industry Challenge
3.7 Artificial Intelligence In Medical Coding Market Analysis Tools
- 3.7.1 Artificial Intelligence In Medical Coding Market - Porter's Analysis
  - 3.7.1.1 Bargaining Power Of The Supplier
  - 3.7.1.2 Bargaining Power Of The Buyer
  - 3.7.1.3 Threat Of New Entrants
  - 3.7.1.4 Threat Of Substitution
  - 3.7.1.5 Competitive Rivalry
- 3.7.2 Pestel Analysis
  - 3.7.2.1 Political And Legal Landscape
  - 3.7.2.2 Economic And Social Landscape
  - 3.7.2.3 Technological Landscape
3.8 Impact Of COVID-19 On Artificial Intelligence In Medical Coding Market

Chapter 4 Artificial Intelligence in Medical Coding Market: Component Estimates & Trend Analysis

4.1 Artificial Intelligence In Medical Coding Market: Component Movement Analysis, 2023 & 2030 (USD Million)
4.2 In-house
- 4.2.1 In-house Market Estimates And Forecasts, 2018 - 2030 (USD Million)
4.3 Outsourced
- 4.3.1 Outsourced Market Estimates And Forecasts, 2018 - 2030 (USD Million)

Chapter 5 Artificial Intelligence In Medical Coding Market: Regional Business Analysis

5.1 Regional Market Snapshot
5.2 North America
- 5.2.1 North America Digital Patient Monitoring Devices Market Estimates And Forecast, 2018 - 2030 (USD Million)
- 5.2.2 U.S.
  - 5.2.2.1 U.S. Digital Patient Monitoring Devices Market, 2018 - 2030 (USD Million)
  - 5.2.2.2 Key Country Dynamics
  - 5.2.2.3 Regulatory Framework
  - 5.2.2.4 Reimbursement Scenario
- 5.2.3 Canada
  - 5.2.3.1 Canada Digital Patient Monitoring Devices Market, 2018 - 2030 (USD Million)
  - 5.2.3.2 Key Country Dynamics
  - 5.2.3.3 Regulatory Framework
  - 5.2.3.4 Reimbursement Scenario
5.3 Europe
- 5.3.1 Europe Digital Patient Monitoring Devices Market, 2018 - 2030 (USD Million)
- 5.3.2 UK
  - 5.3.2.1 UK Digital Patient Monitoring Devices Market, 2018 - 2030 (USD Million)
  - 5.3.2.2 Key Country Dynamics
  - 5.3.2.3 Regulatory Framework
  - 5.3.2.4 Reimbursement Scenario
- 5.3.3 Germany
  - 5.3.3.1 Germany Digital Patient Monitoring Devices Market, 2018 - 2030 (USD Million)
  - 5.3.3.2 Key Country Dynamics
  - 5.3.3.3 Regulatory Framework
  - 5.3.3.4 Reimbursement Scenario
- 5.3.4 Spain
  - 5.3.4.1 Spain Digital Patient Monitoring Devices Market, 2018 - 2030 (USD Million)
  - 5.3.4.2 Key Country Dynamics
  - 5.3.4.3 Regulatory Framework
  - 5.3.4.4 Reimbursement Scenario
- 5.3.5 France
  - 5.3.5.1 France Digital Patient Monitoring Devices Market, 2018 - 2030 (USD Million)
  - 5.3.5.2 Key Country Dynamics
  - 5.3.5.3 Regulatory Framework
  - 5.3.5.4 Reimbursement Scenario
- 5.3.6 Italy
  - 5.3.6.1 Italy Digital Patient Monitoring Devices Market, 2018 - 2030 (USD Million)
  - 5.3.6.2 Key Country Dynamics
  - 5.3.6.3 Regulatory Framework
  - 5.3.6.4 Reimbursement Scenario
- 5.3.7 Denmark
  - 5.3.7.1 Denmark Digital Patient Monitoring Devices Market, 2018 - 2030 (USD Million)
  - 5.3.7.2 Key Country Dynamics
  - 5.3.7.3 Regulatory Framework
  - 5.3.7.4 Reimbursement Scenario
- 5.3.8 Sweden
  - 5.3.8.1 Sweden Digital Patient Monitoring Devices Market, 2018 - 2030 (USD Million)
  - 5.3.8.2 Key Country Dynamics
  - 5.3.8.3 Regulatory Framework
  - 5.3.8.4 Reimbursement Scenario
- 5.3.9 Norway
  - 5.3.9.1 Norway Digital Patient Monitoring Devices Market, 2018 - 2030 (USD Million)
  - 5.3.9.2 Key Country Dynamics
  - 5.3.9.3 Regulatory Framework
  - 5.3.9.4 Reimbursement Scenario
5.4 Asia Pacific
- 5.4.1 Asia-pacific Digital Patient Monitoring Devices Market, 2018 - 2030 (USD Million)
- 5.4.2 Japan
  - 5.4.2.1 Japan Digital Patient Monitoring Devices Market, 2018 - 2030 (USD Million)
  - 5.4.2.2 Key Country Dynamics
  - 5.4.2.3 Regulatory Framework
  - 5.4.2.4 Reimbursement Scenario
- 5.4.3 China
  - 5.4.3.1 China Digital Patient Monitoring Devices Market, 2018 - 2030 (USD Million)
  - 5.4.3.2 Key Country Dynamics
  - 5.4.3.3 Regulatory Framework
  - 5.4.3.4 Reimbursement Scenario
- 5.4.4 India
  - 5.4.4.1 India Digital Patient Monitoring Devices Market, 2018 - 2030 (USD Million)
  - 5.4.4.2 Key Country Dynamics
  - 5.4.4.3 Regulatory Framework
  - 5.4.4.4 Reimbursement Scenario
- 5.4.5 South Korea
  - 5.4.5.1 South Korea Digital Patient Monitoring Devices Market, 2018 - 2030 (USD Million)
  - 5.4.5.2 Key Country Dynamics
  - 5.4.5.3 Regulatory Framework
  - 5.4.5.4 Reimbursement Scenario
- 5.4.6 Thailand
  - 5.4.6.1 Thailand Digital Patient Monitoring Devices Market, 2018 - 2030 (USD Million)
  - 5.4.6.2 Key Country Dynamics
  - 5.4.6.3 Regulatory Framework
  - 5.4.6.4 Reimbursement Scenario
- 5.4.7 Australia
  - 5.4.7.1 Australia Digital Patient Monitoring Devices Market, 2018 - 2030 (USD Million)
  - 5.4.7.2 Key Country Dynamics
  - 5.4.7.3 Regulatory Framework
  - 5.4.7.4 Reimbursement Scenario
5.5 Latin America
- 5.5.1 Latin America Digital Patient Monitoring Devices Market, 2018 - 2030 (USD Million)
- 5.5.2 Brazil
  - 5.5.2.1 Brazil Digital Patient Monitoring Devices Market, 2018 - 2030 (USD Million)
  - 5.5.2.2 Key Country Dynamics
  - 5.5.2.3 Regulatory Framework
  - 5.5.2.4 Reimbursement Scenario
- 5.5.3 Mexico
  - 5.5.3.1 Mexico Digital Patient Monitoring Devices Market, 2018 - 2030 (USD Million)
  - 5.5.3.2 Key Country Dynamics
  - 5.5.3.3 Regulatory Framework
  - 5.5.2.4 Reimbursement Scenario
- 5.5.4 Argentina
  - 5.5.4.1 Argentina Digital Patient Monitoring Devices Market, 2018 - 2030 (USD Million)
  - 5.5.4.2 Key Country Dynamics
  - 5.5.4.3 Regulatory Framework
  - 5.5.4.4 Reimbursement Scenario
5.5 MEA
- 5.5.1 MEA Digital Patient Monitoring Devices Market, 2018 - 2030 (USD Million)
- 5.5.2 South Africa
  - 5.5.2.1 South Africa Digital Patient Monitoring Devices Market, 2018 - 2030 (USD Million)
  - 5.5.2.2 Key Country Dynamics
  - 5.5.2.3 Regulatory Framework
  - 5.5.2.4 Reimbursement Scenario
- 5.5.3 Saudi Arabia
  - 5.5.3.1 Saudi Arabia Digital Patient Monitoring Devices Market, 2018 - 2030 (USD Million)
  - 5.5.3.2 Key Country Dynamics
  - 5.5.3.3 Regulatory Framework
  - 5.4.3.4 Reimbursement Scenario
- 5.5.4 UAE
  - 5.5.4.1 UAE Digital Patient Monitoring Devices Market, 2018 - 2030 (USD Million)
  - 5.5.4.2 Key Country Dynamics
  - 5.5.4.3 Regulatory Framework
  - 5.5.2.4 Reimbursement Scenario
- 5.5.5 Kuwait
  - 5.5.5.1 Kuwait Digital Patient Monitoring Devices Market, 2018 - 2030 (USD Million)
  - 5.5.5.2 Key Country Dynamics
  - 5.5.5.3 Regulatory Framework
  - 5.5.5.4 Reimbursement Scenario

Chapter 6 Competitive Analysis

6.1 Recent Developments And Impact Analysis By Key Market Participants
6.2 Company/competition Categorization (Key Innovators, Market Leaders, And Emerging Players)
6.3 Company Market Position Analysis
6.4 Company Market Share Analysis (%)

Chapter 7 Company Profiles

7.1 Participants' Overview
7.2 Financial Performance
7.3 Participant Categorization
- 7.3.1 Acquisition
- 7.3.2 Product/service Launch
- 7.3.3 Partnerships/collaborations
- 7.3.4 Others

Product Code: GVR-4-68040-098-0

List of Tables

Table 1 List of secondary sources
Table 2 List of abbreviation
Table 3 North America artificial intelligence in medical coding market, by country, 2018 - 2030 (USD Million)
Table 4 North America artificial intelligence in medical coding market, by component, 2018 - 2030 (USD Million)
Table 5 U.S artificial intelligence in medical coding market, by component 2018 - 2030 (USD Million)
Table 6 Canada artificial intelligence in medical coding market, by component 2018 - 2030 (USD Million)
Table 7 Europe artificial intelligence in medical coding market, by country, 2018 - 2030 (USD Million)
Table 8 Europe artificial intelligence in medical coding market, by component 2018 - 2030 (USD Million)
Table 9 UK artificial intelligence in medical coding market, by component 2018 - 2030 (USD Million)
Table 10 Germany artificial intelligence in medical coding market, by component 2018 - 2030 (USD Million)
Table 11 France artificial intelligence in medical coding market, by component 2018 - 2030 (USD Million)
Table 12 Italy artificial intelligence in medical coding market, by component 2018 - 2030 (USD Million)
Table 13 Spain artificial intelligence in medical coding market, by component 2018 - 2030 (USD Million)
Table 14 Denmark artificial intelligence in medical coding market, by component 2018 - 2030 (USD Million)
Table 15 Sweden artificial intelligence in medical coding market, by component 2018 - 2030 (USD Million)
Table 16 Norway artificial intelligence in medical coding market, by component 2018 - 2030 (USD Million)
Table 17 Asia Pacific artificial intelligence in medical coding market, by country, 2018 - 2030 (USD Million)
Table 18 Asia Pacific artificial intelligence in medical coding market, by component 2018 - 2030 (USD Million)
Table 19 China artificial intelligence in medical coding market, by component 2018 - 2030 (USD Million)
Table 20 Japan artificial intelligence in medical coding market, by component 2018 - 2030 (USD Million)
Table 21 South Korea artificial intelligence in medical coding market, by component 2018 - 2030 (USD Million)
Table 22 Australia digital patient monitoring devices market, by component 2018 - 2030 (USD Million)
Table 23 Thailand artificial intelligence in medical coding market, by component 2018 - 2030 (USD Million)
Table 24 Latin America artificial intelligence in medical coding market, by country, 2018 - 2030 (USD Million)
Table 25 Latin America artificial intelligence in medical coding market, by component 2018 - 2030 (USD Million)
Table 26 Brazil artificial intelligence in medical coding market, by component 2018 - 2030 (USD Million)
Table 27 Mexico artificial intelligence in medical coding market, by component 2018 - 2030 (USD Million)
Table 28 Argentina artificial intelligence in medical coding market, by component 2018 - 2030 (USD Million)
Table 29 Middle East & Africa artificial intelligence in medical coding market, by country, 2018 - 2030 (USD Million)
Table 30 Middle East & Africa artificial intelligence in medical coding market, by component 2018 - 2030 (USD Million)
Table 31 South Africa artificial intelligence in medical coding market, by component 2018 - 2030 (USD Million)
Table 32 Saudi Arabia artificial intelligence in medical coding market, by component 2018 - 2030 (USD Million)
Table 33 UAE artificial intelligence in medical coding market, by component 2018 - 2030 (USD Million)
Table 34 Kuwait artificial intelligence in medical coding market, by component 2018 - 2030 (USD Million)

List of Figures

Fig. 1 Artificial intelligence in medical coding market segmentation
Fig. 2 Market research process
Fig. 3 Information procurement
Fig. 4 Primary research pattern
Fig. 5 Market research approaches
Fig. 6 Value chain-based sizing & forecasting
Fig. 7 QFD modeling for market share assessment
Fig. 8 Market formulation & validation
Fig. 9 Market snapshot
Fig. 10 Segment snapshot
Fig. 11 Segment snapshot
Fig. 12 Competitive landscape
Fig. 13 Artificial intelligence in medical coding market value, 2022 (USD Billion)
Fig. 14 Artificial intelligence in medical coding- Industry value chain analysis
Fig. 15 Artificial intelligence in medical coding market dynamics
Fig. 16 Artificial intelligence in medical coding market: PORTER's analysis
Fig. 17 Artificial intelligence in medical coding market: PESTEL analysis
Fig. 18 Artificial intelligence in medical coding market: By component: Key takeaways
Fig. 19 Artificial intelligence in medical coding market, by component: Market share, 2022 & 2030
Fig. 20 In-house market, 2018 - 2030 (USD Million)
Fig. 21 Outsourced market, 2018 - 2030 (USD Million)
Fig. 22 Regional marketplace: Key takeaways
Fig. 23 Regional marketplace: Key takeaways
Fig. 24 North America: SWOT analysis
Fig. 25 North America artificial intelligence in medical coding market estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 26 Key country dynamics
Fig. 27 Reimbursement procurement process
Fig. 28 U.S. artificial intelligence in medical coding market estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 29 Key country dynamics
Fig. 30 Canada artificial intelligence in medical coding market estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 31 Europe: SWOT analysis
Fig. 32 Europe artificial intelligence in medical coding market estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 33 Key country dynamics
Fig. 34 Germany artificial intelligence in medical coding market estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 35 Key country dynamics
Fig. 36 UK artificial intelligence in medical coding market estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 37 Key country dynamics
Fig. 38 France color-correcting classes market estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 39 Key country dynamics
Fig. 40 Italy artificial intelligence in medical coding market estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 41 Key country dynamics
Fig. 42 Spain artificial intelligence in medical coding market estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 43 Key country dynamics
Fig. 44 Denmark artificial intelligence in medical coding market estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 45 Key country dynamics
Fig. 46 Sweden artificial intelligence in medical coding market estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 47 Key country dynamics
Fig. 48 Norway artificial intelligence in medical coding market estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 49 Asia Pacific: SWOT analysis
Fig. 50 Asia Pacific artificial intelligence in medical coding market estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 51 Key country dynamics
Fig. 52 Reimbursement procurement process
Fig. 53 Japan artificial intelligence in medical coding market estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 54 Key country dynamics
Fig. 55 China artificial intelligence in medical coding market estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 56 Key country dynamics
Fig. 57 India artificial intelligence in medical coding market estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 58 Key country dynamics
Fig. 59 Australia artificial intelligence in medical coding market estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 60 Key country dynamics
Fig. 61 South Korea artificial intelligence in medical coding market estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 62 Key country dynamics
Fig. 63 Thailand artificial intelligence in medical coding market estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 64 Key country dynamics
Fig. 65 Latin America: SWOT analysis
Fig. 66 Latin America artificial intelligence in medical coding market estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 67 Key country dynamics
Fig. 68 Brazil artificial intelligence in medical coding market estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 69 Key country dynamics
Fig. 70 Mexico artificial intelligence in medical coding market estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 71 Key country dynamics
Fig. 72 Argentina artificial intelligence in medical coding market estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 73 MEA: SWOT analysis
Fig. 74 Middle East & Africa artificial intelligence in medical coding market estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 75 Key country dynamics
Fig. 76 South Africa artificial intelligence in medical coding market estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 77 Key country dynamics
Fig. 78 Saudi Arabia artificial intelligence in medical coding market estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 79 Key country dynamics
Fig. 80 UAE artificial intelligence in medical coding market estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 81 Key country dynamics
Fig. 82 Kuwait artificial intelligence in medical coding market estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 83 Key company categorization
Fig. 84 Company market position analysis

AI In Medical Coding Market Size, Share & Trends Analysis Report By Component (In-house, Outsourced), By Region (North America, Europe, APAC, Latin America, MEA), And Segment Forecasts, 2023 - 2030

Description

Table of Contents

List of Tables

AI In Medical Coding Market Growth & Trends

AI In Medical Coding Market Report Highlights

Table of Contents

Chapter 1 Methodology and Scope

Chapter 2 Executive Summary

Chapter 3 Artificial Intelligence in Medical Coding Market Variables, Trends & Scope

Chapter 4 Artificial Intelligence in Medical Coding Market: Component Estimates & Trend Analysis

Chapter 5 Artificial Intelligence In Medical Coding Market: Regional Business Analysis

Chapter 6 Competitive Analysis

Chapter 7 Company Profiles

List of Tables

List of Figures