Medical Coding Market

The medical coding market is projected to reach USD 14.01 billion by 2030 from USD 8.91 billion in 2025, at a CAGR of 9.5% during the forecast period. The rising use of healthcare services, complexity of claims, and the need for accurate claims and reimbursement are the principal factors propelling the growth of the medical coding market. The healthcare industry faces the constant need to meet the evolving standards, simultaneously working towards decreasing claim denial and minimizing reimbursement loss. Consequently, the current interest and reliance on the outsourcing of medical coding processes and technology, such as computer-assisted coding and artificial intelligence-based coding, continue to increase and influence the growth of the industry, both developed and developing, with the adoption and use of value-based care and electronic health record systems, and improved standards for enforcement and audits also contributing to the growth of the industry.

Some of the major players in the medical coding market with significant global presence include Optum, Inc. (US), AGS Health (US), Oracle (US), Solventum (US), and R1 RCM (US). These players have incorporated various organic and inorganic strategies, including collaborations, acquisitions, product launches, partnerships, agreements, and expansions, to strengthen their international footprint and capture a greater share of the medical coding market. These organic and inorganic strategies have allowed the market to expand across geographies by offering coding solutions.

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In May 2025, Optum (US) launched Optum Integrity One, a new AI-powered integrated revenue cycle platform that enhances clinical documentation and medical coding accuracy.

In November 2023, R1 RCM (US) collaborated with Microsoft (US) to integrate Azure OpenAI Service into its revenue cycle management platform, including the development of LLM-based tools for physician coding quality assurance and other AI enhancements across coding and RCM workflows.

Optum, Inc. (US) offers medical coding solutions for providers through its OptumInsight business, aiming for enhanced coding accuracy, compliance, and reimbursement efficiency. Its solutions encompass computer-assisted coding, clinical documentation improvement, as well as AI-driven automation solutions for proper code assignment and documentation quality. These solutions are incorporated into its revenue cycle management platforms offered by Optum, allowing for synchronization between the clinical, billing, and claims processes. Optum has managed and outsourced coding business solutions for healthcare facilities dealing with workforce shortages and denial of claims.

Oracle (US) provides healthcare revenue cycle and medical coding-related solutions through its Oracle Health portfolio, which combines clinical, administrative, and financial capabilities. Its cloud-native revenue cycle management and patient accounting systems support coding accuracy by integrating clinical documentation with billing and claims processing, helping reduce errors and improve reimbursement. Oracle has also introduced AI-assisted tools that apply payer rules and automation across clinical and claims workflows, which support cleaner coding and claim submission. Oracle’s platform enables interoperability, integration with third-party coding tools, and workflow automation that contribute to more consistent and compliant medical coding outcomes.

Solventum (US)  provides medical coding solutions to its customers via its health information & technology segment. It offers solutions to its customers in the form of computer-assisted coding solutions and coding solutions that enable customers to correctly assign diagnosis or procedure codes to their patients while ensuring that their clinical documentation is in line with the revenues collected or received. The company provides customers with key solutions in coding platforms equipped with solutions related to grouping or reimbursement data solutions used in outpatient coding. Autonomous coding solutions that utilize expert-led AI solutions to automate recurrent coding functionalities.

MARKET RANKING

The competitive landscape of the medical coding market is led by five major companies: Optum, Inc. (US), Oracle (US), Solventum (US), R1 RCM (US), and AGS Health (US), shaping market evolution through differentiated strategies and sustained technology investment. Optum, Inc. offers AI-enabled computer-assisted coding and documentation improvement within its revenue cycle platforms. Oracle supports medical coding through cloud-based revenue cycle and billing systems aligned with clinical workflows. Solventum provides automated and autonomous coding solutions to improve coding accuracy. R1 RCM delivers AI-driven coding automation via its Phare platform to reduce manual coding effort. AGS Health offers technology-enabled medical coding services integrated into its revenue cycle management solutions.

Related Reports:

Medical Coding Market by Offering (Software, Outsourcing Services), Classification (ICD, CPT, HCPCS), Specialty (Surgical, Radiology), Function (Code, Assignment, Reimbursement, Audit) End User (Healthcare Providers, Payers) - Global Forecast to 2030

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