Clinical Documentation Improvement Market Size to Reach USD 9.96 Billion by 2032, Driven by EHR Adoption and Regulatory Compliance – SNS Insider

According to Research by SNS Insider, Growing demand for accurate documentation, value-based care, and integration of AI-powered CDI solutions propels market growth at a CAGR of 7.66% from 2024 to 2032.

Austin, Oct. 24, 2024 (GLOBE NEWSWIRE) — Clinical Documentation Improvement Market Size Analysis:

“According to SNS Insider, The Clinical Documentation Improvement Market was valued at USD 5.13 billion in 2023 and is expected to reach USD 9.96 billion by 2032, growing at a CAGR of 7.66% from 2024 to 2032.”

Growth in the market is owed to the rising necessity for credible and timely clinical documentation related to patient safety, operational efficiency, and adherence to a wide array of healthcare regulations. A growing demand for sophisticated CDI solutions by healthcare providers to accelerate the documentation process and ensure improved coding accuracy further rises with this demand. Additionally, value-based care is compelling healthcare payers to invest in CDI solutions in an attempt to minimize errors, boost claim reimbursement, and enhance patient care quality.

Clinical Documentation Improvement Market Overview

The Clinical Documentation Improvement market is dominated by a dynamic play between supply and demand, driven by regulatory requirements, technological advancements, and the need to achieve better healthcare outcomes. The demand for CDI solutions has upped through health organizations, seeking greater accuracy in clinical documentation, more stringent regulations, and improved patient care quality. On the other hand, the growing availability of software solutions and consulting services are the supporting factors on the supply side. Moreover, embedding AI and machine learning solutions for CDI increases its revolution for clinical data capture and processing into unprecedented efficiency and accuracy in documentation. This further enriches the landscape as telehealth and remote patient monitoring are on the rise and need strong documentation practices for diverse care settings.

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Impact of Clinical Documentation Improvement on Healthcare Outcomes

Outcome	Description	Impact of CDI
Improved Coding Accuracy	Enhanced coding leads to better reimbursement	Increases revenue for healthcare facilities
Reduced Claim Denials	Accurate documentation reduces claim rejections	Improved financial stability
Enhanced Patient Safety	Better documentation supports patient care	Decreases adverse events
Increased Compliance	Meeting regulatory requirements through accurate documentation	Reduces risk of audits and penalties
Improved Clinical Decision-Making	Access to accurate and comprehensive patient data	Enhances quality of care and outcomes

Key Clinical Documentation Improvement Companies:

• 3M Health Information Systems
• Wolters Kluwer Health
• MModal
• Optum360
• Aviacode
• Cotiviti Inc.
• R1 RCM Inc.
• Craneware
• The HCI Group Inc.
• Ingenious Med Inc.
• SSI Group LLC
• ClinCapture
• PerfectServe Inc.
• Health Language Inc.
• ChartMaxx and others

Clinical Documentation Improvement Market Report Scope:

Report Attributes	Details
Market Size in 2023	US$ 5.13 Billion
Market Size by 2032	US$ 9.96 Billion
CAGR	CAGR of 7.66% From 2024 to 2032
Base Year	2023
Forecast Period	2024-2032
Historical Data	2020-2022
Key Regional Coverage	North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East]), Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America)

Segment Analysis

By Product and Service

Dominating Segment: Solutions

The Solutions segment was dominant in 2023, with a market share of over 65.0% in Clinical Documentation Improvement (CDI). High-end CDI software solutions are being adopted because they are making documentation easier, significantly fewer errors, and coding more accurate. These solutions integrate very neatly with EHRs, making it easier for healthcare providers to automate patient documentation and keep records, which in turn improves care outcomes and ensures regulatory compliance.

Fastest Growing Segment: Consulting Services

The Consulting Services segment is to grow the fastest over the forecast period. That is because there is a growing need for expert advice on implementing CDI systems, how to comply with regulatory requirements, and optimizing the workflows of operations. Healthcare organizations are increasingly finding services in consulting to train people, improve documentation practices, and adapt to demands that continue to change at such a rapid pace with expansions of this segment.

By End Users

Dominating Segment: Healthcare Providers

Healthcare Providers, as a segment, accounted for more than 70.0% share of the CDI market in 2023. This is because hospitals, clinics, and long-term care facilities all require accurate and timely clinical documentation. Greater adoption of EHRs and a strong focus on patient safety, quality of care, and regulatory compliance are moving healthcare providers to adopt CDI solutions.

Fastest Growing Segment: Healthcare Payers

The Healthcare Payers segment is expected to grow the most because payers are increasingly realizing the value of clinical data capture in decreasing errors, improving claim reimbursements, and checking fraud. Increasing value-based care by the insurers and government agencies from it is a strong requirement of CDI solutions by payers, thus further expanding this segment in the market.

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Key Market Segments

By Product and Service

• Solutions
  • Clinical Documentation
  • Clinical Coding
  • Charge Capture
  • Clinical Documentation Improvement
  • Others
• Consulting Services

By End Users

• Healthcare Providers
  • Inpatient Settings
  • Outpatient Settings
• Healthcare Payers

Regional Analysis

Dominant Region: North America

In 2023, the Clinical Documentation Improvement market share in North America was vast. This is due to the presence of key healthcare providers, stringent regulatory framework, and well-established healthcare infrastructure. Advanced adoption of EHRs and a strong focus on the improvement of healthcare quality are major contributors to the growth of this market. Notable vendors, such as 3M Health Information Systems and Nuance Communications, are very aggressively enhancing their offerings in this region to further consolidate North America’s dominance.

Growth Rate Maximum Region: Europe

The CDI market in the European region would have a high growth rate due to growing expenditure on health care, more emphasis on adhering to regulatory requirements, and widespread integration of digital health solutions. Nowadays, Germany, the UK, and France become trendy for state-of-the-art CDI solutions due to better documentation accuracy and protection from risks to patients’ records. Their clinical documentation demands and binding needs for compliance with regulatory acts such as GDPR and the Digital Health Act push healthcare organizations for more investments in modern CDI solutions. As Europe’s healthcare models continue to grow, AI and machine learning integration in clinical documentation shall be another growth driver for the market in the region.

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Latest Developments

• March 2024: Abridge has teamed up with NVIDIA to streamline clinicians’ workflow and also has received funding from NVentures to build AI-enabled solutions.
• October 2023: Nuance Communications acquired Saykara to fortify its AI-led Clinical Documentation Improvement capabilities.
• January 2024: Optum360 launched its new CDI solution that includes AI technology to achieve more accuracy and efficiency.
• February 2024: 3M unveiled its next-generation CDI software, designed to automate and streamline documentation while also improving coding accuracy.
• April 2024: Wolters Kluwer published a vast training program designed to upgrade CDI best practices for healthcare providers.
• May 2024 MModal has expanded its portfolio of CDI solutions with advanced analytics and AI capability designed to improve the quality of documentation.

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