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How are Medical Coding Systems Reducing Occurrence of Insurance Frauds?

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The rising prevalence of insurance frauds in the healthcare industry is propelling the demand for medical coding solutions around the world. These insurance frauds cause huge financial losses amounting to billions of dollars, according to the observations of the National Health Care Anti-Fraud Association (NHCAA). In the U.S., nearly $3.6 trillion was spent on various healthcare services including expenditure for healthcare services and goods, net cost of health insurance, public health activities, and investments related to healthcare, in 2018.  The adoption of medical coding solutions and billing standards allows medical billers to create uniform checklists that are to be strictly followed as per the process claims. Moreover, the presence of various irregularities and inconsistencies in these checklists allows medical billers to spot frauds before the submission of the document to an insurance firm. Apart from the growing incidence of insurance frauds, the rising requirement for mod
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Endoscope Reprocessing Market Size, Business Opportunities and Top Manufacture

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 In 2021, the global endoscope reprocessing market was worth around $1,879.9 million, and it is predicted to hit $4,358.1 million by 2030, progressing at a 9.8% CAGR from 2021 to 2030. This is primarily due to the growing preference for minimally invasive treatments, increasing danger of infection by contaminated endoscopes, and rising stringency of the rules governing medical device safety on a global scale. To avoid the complications and extra costs related to the different services offered under contracts with medical equipment manufacturers, end users are increasingly entering into multi-vendor contracts with ISOs. For example, customers may combine all of NovaMed Corporation's services under a single contract, owing to its extensive service management program. With an estimated contribution of $1.0 billion, North America leads the endoscope reprocessing market. This is due to the region's advantageous reimbursement policies, increase in cancer incidence, and demand for les
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Increasing Number of MRI Tests Fueling Sales of MRI Compatible Patient Monitoring Systems

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The increasing number of magnetic resonance imaging (MRI) exams being done in several countries is pushing up the demand for MRI compatible patient monitoring systems across the world. As per the Commonwealth Fund’s Annual International Profiles of Health Care Systems, France, the U.S., and Germany were the three biggest countries that observed the highest number of MRI tests per 1,000 people in 2014. The U.S., France, and Germany witnessed 109.5, 95.5, and 114.3 MRI tests respectively in that year. Browse full report with Table of Content - MRI Compatible Patient Monitoring System Market Apart from the aforementioned factor, extensive research and development (R&D) activities being conducted in MRI compatible patient monitoring systems in various countries and frequent product launches are also fueling the advancement of the industry across the globe. Additionally, the increasing public awareness about healthcare and advanced medical technologies and the soaring implementation of
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How is Surging Prevalence of Chronic Pain and Neurological Disorders Driving Nerve Repair and Regeneration Market?

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The prevalence of neurological disorders and chronic pain is increasing rapidly at the present time across the globe. Depression, fecal incontinence, epilepsy, Parkinson’s, and Alzheimer’s are the different kinds of neurological disorders. As per the Alzheimer’s Association, about 5.35 million people aged 65 years and above were suffering from Alzheimer’s diseases in the U.S. in 2015. Apart from this, as per the Parkinson’s Diseases Foundation, nearly 60,000 new cases of Parkinson’s disease are reported each year in the U.S. Attributed to these reasons, the demand for efficient medical technologies, such as neuromodulation and neurostimulation devices, is increasing rapidly. Furthermore, the nerve repair and regeneration market is witnessing significant growth due to the surging geriatric population. The generation of new axon, glial cells, neurons, and myelin is referred to as nerve repair and regeneration. The process helps in the replacement of damaged nerve cells, cellular produ
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Why is Europe Biggest In Vitro Fertilization Devices and Consumables Market?

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The declining fertility rate, rising prevalence of delayed pregnancy, increasing disposable income, and growing awareness about in-vitro fertilization (IVF) treatment options are driving the IVF devices and consumables market. It gathered a revenue of $1.6 billion in 2016, and it is expected to grow at a 17.9% CAGR during the forecast period (2017–2023). The artificial fertilization of an ovum in a laboratory setting to be later implanted into the uterus is termed as in-vitro fertilization. The key driving factor for the IVF devices and consumables market is the rising infertility rate, worldwide. In developing nations, one in every four couples is affected by infertility. As per the World Bank, the fertility rate came down to 2.4 in 2015 from 4.7 in 1970. Smoking, which has a negative impact on health, is a major cause of infertility. Smoking reduces the chances of pregnancy in women by 50.0%. The Human Reproduction Journal of the Oxford Press said that about 7.7 million women will be
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Rising Cancer Prevalence Driving Nuclear Imaging Equipment Market

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Across the globe, the population of the elderly is increasing at a high rate. The United Nations, in its latest World Population Ageing report, estimated that 703 million people on earth were more than 65 years old in 2019, and that their population will touch 1.5 billion by 2050.  Single-positron emission computed tomography (SPECT), hybrid positron emission tomography (PET), and planar scintigraphy are the various nuclear imaging techniques. Among these, the highest demand in the past has been for SPECT scanners, as they are widely used to asses the severity of brain injury, where CT and magnetic resonance imaging (MRI) have certain limitations, especially in detecting the flow of blood in the veins and arteries. In the coming years, hybrid PET systems are expected to witness the most rapidly increasing demand. Across the world, North America has been the largest user of nuclear imaging, as it accounts for extremely high cancer and cardiovascular disease rates. As such techn
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How is Rising Cancer Burden Driving Aspiration and Biopsy Needle Demand?

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 The International Agency for Research on Cancer (IARC) states that “In 2018 there were 17.0 million new cancer cases and 9.5 million cancer deaths worldwide”. The organization also forecasts that by 2040, cancer will account for nearly 16.3 million deaths globally. Moreover, the World Health Organization (WHO) estimates that 2.26 million, 2.21 million, and 1.93 million new cases of breast cancer, lung cancer, and colon and rectum cancer were diagnosed in 2020. Additionally, the number of prostate, skin (non-melanoma), and stomach cancer cases is rising at an exponential rate. The increasing cancer burden is encouraging healthcare companies and government organizations to work toward providing better diagnostic facilities, owing to which the aspiration and biopsy needles market will march at a CAGR of 7.2% during 2020–2030. The market was valued at $801.5 million in 2019, and it is expected to generate $1,717.9 million revenue by 2030. Biopsy and aspiration are performed to study the c
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