PUBLISHER: KBV Research | PRODUCT CODE: 1544309
PUBLISHER: KBV Research | PRODUCT CODE: 1544309
North America Medical Coding Market Size, Share & Trends Analysis Report By Component (Outsourced, and In-house), By Country and Growth Forecast, 2024 - 2031
The North America Medical Coding Market would witness market growth of 8.7% CAGR during the forecast period (2024-2031).
The US market dominated the North America Medical Coding Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $17,431.2 Million by 2031. The Canada market is experiencing a CAGR of 11.1% during (2024 - 2031). Additionally, The Mexico market would exhibit a CAGR of 10.1% during (2024 - 2031).
Medical coding translates healthcare diagnoses, procedures, medical services, and equipment into standardized codes universally recognized within the healthcare industry. These codes are used for various purposes, including billing, record-keeping, and statistical analysis.
Additionally, medical coding is essential for ensuring that healthcare providers are properly reimbursed by insurance companies, government programs, and patients for their services. It is also essential for the administration of healthcare data, as it facilitates the precise monitoring of patient outcomes, healthcare trends, and resource utilization.
The market in North America is characterized by robust growth, driven by the region's high healthcare spending and the stringent regulatory environment that requires precise and accurate documentation. The increasing demand for medical coding is closely tied to the nation's substantial healthcare spending in the United States. U.S. healthcare spending reached approximately $4.5 trillion or $13,493 per capita in 2022, accounting for 17.3% of the country's GDP. This substantial expenditure is the result of a variety of factors, such as the extensive adoption of advanced medical technologies, the prevalence of chronic diseases, and an aging population.
Based on Component, the market is segmented into Outsourced, and In-house. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
List of Key Companies Profiled
- 3M Company
- Dolbey Systems, Inc.
- GeBBS Healthcare Solutions, Inc.
- Precyse Coding Solutions LLC
- Microsoft Corporation
- Change Healthcare, Inc. (Optum, Inc.) (UnitedHealth Group, Inc.)
- Oracle Corporation
- The Coding Network, L.L.C.
North America Medical Coding Market Report Segmentation
By Component
- Outsourced
- In-house
By Country
- US
- Canada
- Mexico
- Rest of North America
Table of Contents
Chapter 1. Market Scope & Methodology
- 1.1 Market Definition
- 1.2 Objectives
- 1.3 Market Scope
- 1.4 Segmentation
- 1.4.1 North America Medical Coding Market, by Component
- 1.4.2 North America Medical Coding Market, by Country
- 1.5 Methodology for the research
Chapter 2. Market at a Glance
- 2.1 Key Highlights
Chapter 3. Market Overview
- 3.1 Introduction
- 3.1.1 Overview
- 3.1.1.1 Market Composition and Scenario
- 3.1.1 Overview
- 3.2 Key Factors Impacting the Market
- 3.2.1 Market Drivers
- 3.2.2 Market Restraints
- 3.2.3 Market Opportunities
- 3.2.4 Market Challenges
Chapter 4. Competition Analysis - Global
- 4.1 Market Share Analysis, 2023
- 4.2 Porter Five Forces Analysis
Chapter 5. North America Medical Coding Market by Component
- 5.1 North America Outsourced Market by Country
- 5.2 North America In-house Market by Country
Chapter 6. North America Medical Coding Market by Country
- 6.1 US Medical Coding Market
- 6.1.1 US Medical Coding Market by Component
- 6.2 Canada Medical Coding Market
- 6.2.1 Canada Medical Coding Market by Component
- 6.3 Mexico Medical Coding Market
- 6.3.1 Mexico Medical Coding Market by Component
- 6.4 Rest of North America Medical Coding Market
- 6.4.1 Rest of North America Medical Coding Market by Component
Chapter 7. Company Profiles
- 7.1 Dolbey Systems, Inc.
- 7.1.1 Company Overview
- 7.1.2 Recent strategies and developments:
- 7.1.2.1 Product Launches and Product Expansions:
- 7.1.3 SWOT Analysis
- 7.2 Microsoft Corporation
- 7.2.1 Company Overview
- 7.2.2 Financial Analysis
- 7.2.3 Segmental and Regional Analysis
- 7.2.4 Research & Development Expenses
- 7.2.5 Recent strategies and developments:
- 7.2.5.1 Partnerships, Collaborations, and Agreements:
- 7.2.6 SWOT Analysis
- 7.3 Oracle Corporation
- 7.3.1 Company Overview
- 7.3.2 Financial Analysis
- 7.3.3 Segmental and Regional Analysis
- 7.3.4 Research & Development Expense
- 7.3.5 Recent strategies and developments:
- 7.3.5.1 Product Launches and Product Expansions:
- 7.3.5.2 Acquisition and Mergers:
- 7.3.6 SWOT Analysis
- 7.4 Change Healthcare, Inc. (Optum, Inc.) (UnitedHealth Group, Inc.)
- 7.4.1 Company Overview
- 7.4.2 Financial Analysis
- 7.4.3 Segmental Analysis
- 7.5 GeBBS Healthcare Solutions, Inc.
- 7.5.1 Company Overview
- 7.5.2 Recent strategies and developments:
- 7.5.2.1 Acquisition and Mergers:
- 7.6 Precyse Coding Solutions LLC
- 7.6.1 Company Overview
- 7.7 The Coding Network, L.L.C.
- 7.7.1 Company Overview
- 7.8 3M Company
- 7.8.1 Company Overview
- 7.8.2 Financial Analysis
- 7.8.3 Segmental and Regional Analysis
- 7.8.4 Research & Development Expense
- 7.8.5 SWOT Analysis
LIST OF TABLES
- TABLE 1 North America Medical Coding Market, 2020 - 2023, USD Million
- TABLE 2 North America Medical Coding Market, 2024 - 2031, USD Million
- TABLE 3 North America Medical Coding Market by Component, 2020 - 2023, USD Million
- TABLE 4 North America Medical Coding Market by Component, 2024 - 2031, USD Million
- TABLE 5 North America Outsourced Market by Country, 2020 - 2023, USD Million
- TABLE 6 North America Outsourced Market by Country, 2024 - 2031, USD Million
- TABLE 7 North America In-house Market by Country, 2020 - 2023, USD Million
- TABLE 8 North America In-house Market by Country, 2024 - 2031, USD Million
- TABLE 9 North America Medical Coding Market by Country, 2020 - 2023, USD Million
- TABLE 10 North America Medical Coding Market by Country, 2024 - 2031, USD Million
- TABLE 11 US Medical Coding Market, 2020 - 2023, USD Million
- TABLE 12 US Medical Coding Market, 2024 - 2031, USD Million
- TABLE 13 US Medical Coding Market by Component, 2020 - 2023, USD Million
- TABLE 14 US Medical Coding Market by Component, 2024 - 2031, USD Million
- TABLE 15 Canada Medical Coding Market, 2020 - 2023, USD Million
- TABLE 16 Canada Medical Coding Market, 2024 - 2031, USD Million
- TABLE 17 Canada Medical Coding Market by Component, 2020 - 2023, USD Million
- TABLE 18 Canada Medical Coding Market by Component, 2024 - 2031, USD Million
- TABLE 19 Mexico Medical Coding Market, 2020 - 2023, USD Million
- TABLE 20 Mexico Medical Coding Market, 2024 - 2031, USD Million
- TABLE 21 Mexico Medical Coding Market by Component, 2020 - 2023, USD Million
- TABLE 22 Mexico Medical Coding Market by Component, 2024 - 2031, USD Million
- TABLE 23 Rest of North America Medical Coding Market, 2020 - 2023, USD Million
- TABLE 24 Rest of North America Medical Coding Market, 2024 - 2031, USD Million
- TABLE 25 Rest of North America Medical Coding Market by Component, 2020 - 2023, USD Million
- TABLE 26 Rest of North America Medical Coding Market by Component, 2024 - 2031, USD Million
- TABLE 27 Key Information - Dolbey Systems, Inc.
- TABLE 28 Key Information - Microsoft Corporation
- TABLE 29 Key Information - Oracle Corporation
- TABLE 30 Key Information - Change Healthcare
- TABLE 31 Key Information - GeBBS Healthcare Solutions, Inc.
- TABLE 32 Key Information - Precyse Coding Solutions LLC
- TABLE 33 Key Information - The Coding Network, L.L.C.
- TABLE 34 Key Information - 3M Company
