Natural Language Processing (Nlp) In Healthcare And Life Sciences Market
Natural language processing (NLP) is a process by which computers understand and interact with the user. The technology like Google Search, Alexa, Siri, or Google Assistant operates on NLP process. Software developers are constantly focusing on incorporating NLP in many applications such as speech recognition, machine translation, sentiment analysis, market intelligence, chatbots, spell checking, and text classification. There is rapid increase in adoption of NLP services due to the ability of natural language processing (NLP) to organize data at the time of addressing the feedbacks and queries from customers with the help of chatbots.
Market Dynamics
Rising emphasis on clinical documentation improvement (CDI) by health organizations is driving the market growth during the forecast period. Health organizations are emphasizing on clinical documentation improvement in order to run their operations effectively and efficiently. Health systems across administrative, financial, operational and clinical delivery tasks, are increasingly using NLP to maintain proper record of medicines, patient profile including past medical history and other information. For instance, compliance and regulations such as health care access, portability, and renewability clauses have been developed in the Health Insurance Portability and Accountability Act (HIPAA), in order to protect the security and privacy of patients and customers, and these mandates a standard format for transactions among health organization to simplify administrative processes. The implementation of clinical documentation helps organizations eliminate incidental errors, financial losses, and improve patient care. Also, the adoption of clinical documentation helps enhance patient engagement and enable better patient outcomes.
Moreover, natural language processing (NLP) enables the processing of text directly with computer applications, which helps healthcare organizations enhance the value of patient information in clinical data and reduces the cost by eliminating the conventional clinical documentation process. It also allows healthcare professionals to cope with the clinical narratives, which is a form of clinical communication technique that helps enhance the overall performance of healthcare processes. The impact of this driver is expected to remain high throughout the forecast period, primarily due to rising emphasis on healthcare process enhancement and automation.
Key features of the study:
Detailed Segmentation
“*” marked represents similar segmentation in other categories in the respective section.
Table of Contents
*Browse 36 market data tables and 26 figures on “Global Natural Language Processing (NLP) in Healthcare and Life Sciences Market” – Global forecast to 2030
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