What is the global market size of U.S. Medical Coding Market?

U.S. Medical Coding Market size was valued at USD 16.79 billion in 2021 and is poised to grow from USD 18.4 billion in 2022 to USD 38.31 billion by 2030, growing at a CAGR of 9.6% during the forecast period (2023-2030).

Top U.S. Medical Coding Companies

Skyquest Technology's expert advisors have carried out comprehensive research and identified these companies as industry leaders in the U.S. Medical Coding Market. This Analysis is based on comprehensive primary and secondary research on the corporate strategies, financial and operational performance, product portfolio, market share and brand analysis of all the leading U.S. Medical Coding industry players.

U.S. Medical Coding Market Competitive Landscape

The competitive landscape of the U.S. medical coding market is characterized by a diverse range of service providers and software solutions catering to the growing demand for accurate and efficient medical coding processes. Key players in the market offer a variety of services, including medical coding software, outsourcing services, consulting, and training. These providers strive to differentiate themselves by offering advanced technologies, user-friendly interfaces, and comprehensive solutions that address the evolving needs of healthcare organizations. Additionally, partnerships and collaborations with healthcare stakeholders, such as hospitals, clinics, and insurance companies, are common strategies to enhance market presence and expand service offerings. As the market continues to grow, competition intensifies, driving innovation and the development of sophisticated coding solutions to meet the demands of the dynamic healthcare industry.

Top Player’s Company Profiles

STARTEK

Oracle

Maxim Healthcare Services

Parexel International Corporation

Aviacode Inc.

Verisk Analytics, Inc.

Medical Record Associates, LLC.

Optum

Change Healthcare

Exela Technologies

nThrive

Maxim Health Information Services

himagine solutions Inc.

M*Modal

TrustHCS

Dolbey

The Coding Network LLC

MRA Health Information Services

Peak Health Solutions

ezDI Inc.

Recent Development

In February 2024, Maverick Medical AI, or Maverick, a provider of innovative and autonomous AI-powered medical coding platform, has partnered with ImagineSoftware, the leading provider of revenue cycle management (RCM) technology in the U.S. Through the partnership, ImagineSoftware will integrate Maverick’s AI-powered Autonomous Medical Coding Platform as a solution for customers to scale their operations and achieve a higher direct-to-bill rate.
In February 2024, XpertDox, a pioneer in autonomous AI-enabled medical coding, announced its strategic partnership with Cucamonga Valley Medical Group, Inc. (CVMG), a top-tier primary care organization from California. This collaboration introduces XpertCoding, XpertDox's AI medical coding software, into CVMG's healthcare coding operations across all facilities and providers, revolutionizing their coding quality and revenue cycle process.
In January 2024, Maverick Medical AI, or Maverick, partnered with Dexios, a radiology-specific revenue-cycle management (RCM) company serving imaging centers and hospital-based radiologists throughout the U.S. Through this partnership, Dexios integrates Maverick’s AI-powered Autonomous Medical Coding Platform to augment its medical coding team, boost productivity, and achieve a higher direct-to-bill rate.

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FAQs

U.S. Medical Coding Market size was valued at USD 27.5 Billion in 2024 and is poised to grow from USD 30.25 Billion in 2025 to USD 64.84 Billion by 2033, growing at a CAGR of 10% during the forecast period (2026–2033).

One key driver of the U.S. medical coding market is the increasing demand for accurate and standardized medical documentation. The healthcare industry relies on medical coding to ensure proper billing, reimbursement, and communication between healthcare providers and payers. With the growing emphasis on electronic health records and the need for streamlined healthcare processes, the demand for medical coding services and solutions has significantly increased.

One key market trend in the U.S. medical coding market is the increasing adoption of automation and artificial intelligence (AI) technologies. Healthcare organizations are leveraging advanced coding software and AI-powered tools to streamline the coding process, enhance accuracy, and improve productivity. Automation solutions, such as computer-assisted coding (CAC), are being widely adopted to assist coders in efficiently assigning appropriate codes to medical procedures and diagnoses. AI algorithms are being used to analyze medical documentation, extract relevant information, and suggest appropriate codes, reducing manual effort and potential errors. This trend is driven by the need for faster and more accurate coding processes, increased efficiency, and improved revenue cycle management in the healthcare industry.

The US has a highly developed healthcare system and a large market for revenue cycle management solutions. Factors such as increasing healthcare spending, a complex reimbursement landscape, and a strong focus on digitization and technology adoption in healthcare contribute to the dominance of the US market. Furthermore, the presence of major healthcare organizations, advanced infrastructure, and a favorable regulatory environment for revenue cycle management drive market growth in the US.

Top U.S. Medical Coding Companies

U.S. Medical Coding Market Competitive Landscape

FAQs

What is the global market size of U.S. Medical Coding Market?

Who are the key vendors in the U.S. Medical Coding Market?

What is the key driver of U.S. Medical Coding Market?

What is the key market trend for U.S. Medical Coding Market?

Which region accounted for the largest share in U.S. Medical Coding Market?

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