SOA Healthcare Application Market Is Anticipated to Reach $2.6 Billion by 2016
Custom Market Insights releases a new market research report "Natural Language Computer Assisted Coding and SOA Healthcare Application Market Strategies, Shares and Forecasts, Worldwide, 2010-2016" to add to its collection of research reports.
Deerfield Beach, FL -- (SBWire) -- 02/23/2016 --Natural Language Computer Assisted Coding and SOA Healthcare Application Market Strategies, Shares and Forecasts, Worldwide, 2010-2016. Computer assisted coding markets come together to make information technology delivery a system that supports the efficient and affordable patient treatment environment. CodeRyte is a vendor with advanced systems evolution. Other vendors are achieving ICD-10 capability.
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Computer assisted Coding represents a utility using SOA to manage web services and transport code modules from one application to another, from one facility to another. IBM is the market leader in SOA application middleware with 75% market share.
Coders identify diagnoses and related procedures. These events must have codes assigned to them for use in billing and performance measurement programs. Coders use one system to research medical codes and another to create encoded documents. Inefficiencies in medical coding add $8 billion in administrative costs to the health care system, result in billing and payment errors and slow payments to health care providers.
Computer assisted coding markets are merging with electronic patient record systems. The ability to code medical records depends on the ability to read the chart automatically, creating a need for the coding systems to be part of the electronic records systems. Automated coding of medical records provides significant efficiency to the healthcare delivery system.
Automated process is an essential aspect of business process efficiency. Computer assisted coding represents the most significant aspect of achieving insurance efficiency. At the same time quality of care delivery improves by a quantum amount.
Computer assisted coding of medical information uses natural language solutions to link the physician notes in an electronic patient record to the codes used for billing Medicare, Medicaid, and private insurance companies. Natural language is used determine the links to codes. 80% of the coding can occur automatically without properly designed natural language processing (NLP) solutions do not require physicians to change the way they work. They can dictate in a free flowing fashion, consistent with the way they think, and are not limited to structured inputs that may or may not fully capture the unique circumstances of each patient encounter.
Matching codes generated from physician notes to standard treatment protocols promises to improve health care delivery. Accompanying the more advanced computer generated types of physician patient management coding with measures of best practice promises to revolutionize health care delivery.
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The ability to further check as to whether the recommendations for follow up made by radiologists and matching the recommendations with the actual follow up holds significant promise of vastly improved health care delivery.
Systems are implemented with natural language pattern recognition. These patterns are linked to rules and encoded with systems that learn from their mistakes, creating self healing adjustments to how a particular physician works. In order to assign appropriate billing codes based on the language, the context in which those patterns of language occur is buttressed with statistical analysis and rules developed at the outset of using a system.
The Centers for Medicare & Medicaid Services (CMS) requires all health care organizations to use the Statistical Classification of Disease and Related Health Problems (ICD-10) when encoding medical documentation by October 1, 2013. ICD-10 is a sophisticated index of more than 155,000 codes that describe medical conditions and their severity. It will replace ICD-9, which had just 17,000 codes.
According to CMS, ICD-10 will facilitate better analysis of disease patterns, severity and treatment outcomes, and support health care quality improvement efforts. vastly expanded code sets increase the time required to process documentation and the potential for errors, which lead to rejected claims and higher administrative costs.
Markets at $150 million in 2010 are anticipated to reach $2.6 billion by 2016. This growth comes as the electronic patient record is adopted worldwide and as automated process works in combination with sophisticated medical testing and imaging to provide superior, and less expensive healthcare delivery.
Medical testing speeds diagnosis and exposes treatment options faster. Testing is far less expensive than physician and clinician labor. The ability to wring the labor costs out of the healthcare delivery system is what brings efficiency from automated process. This is not so good for the jobs market, but it does vastly improve healthcare delivery.
SOA supports on demand systems providing scale to meet the needs of users. As cloud markets evolve and users only pay for the capacity they use., SOA becomes a significant aspect of all markets going forward. SOA strategies relate to providing a middleware to manage different application access in ways that position software with a more flexible capability. The 2010 SOA study has 650 pages, 206 tables and figures.
The popularity of the on-demand deployment model has increased significantly. Systems provide security, response time, and service availability. SaaS software as a service application is widely known by the salesforce.com computing model illustrates. Business applications and computing models have matured and adoption has become an issue for every IT department. Platform as a service (PaaS) and infrastructure as a service (IaaS) have joined SaaS as compelling aspects of cloud computing applications and infrastructure services.
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