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Global Medical Coding Market Analysis, Application, And Forecast To 2023-2031
Medical Coding: Introduction Medical coding is the process of assigning codes to medical diagnoses, procedures, and services to ensure uniformity in medical record-keeping and billing. These codes are used by healthcare providers, insurance companies, and government agencies to accurately track and manage healthcare services and costs. The coding process involves converting written descriptions of diseases, injuries, and procedures into codes according to standard classification systems such as ICD-10 (International Classification of Diseases, 10th Revision) and CPT (Current Procedural Terminology). Medical coders must have a thorough understanding of anatomy and medical terminology, as well as knowledge of coding guidelines and regulations.
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Medical Coding Market
The market size attained a value of about USD 18.82 billion in 2022. The market is expected to grow at a CAGR of 10.90% during the forecast period of 2023-2031 to attain a value of USD 47.75 billion by 2031.
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