Healthcare BPO Services Market Segment to Grow at Faster CAGR during 2017–2025
According to our new research study on “Healthcare BPO Services Market Forecasts to 2025 –Global Analysis by Payer Service, Provider Service, and Pharmaceutical Service,” the market is expected to reach US$ 68,198.3 million by 2025 from US$ 35,818.9 million in 2017; it is estimated to grow at a CAGR of 8.6% from 2018 to 2025. The report highlights trends prevailing in the market, and the factors driving and hindering the market growth. The growth of the healthcare BPO services is attributed to constant changes in government regulations, mounting pressure on healthcare providers to reduce healthcare costs, and rising consolidation in the healthcare BPO industry. However, hidden costs of outsourcing and dearth of skilled professionals and researchers is the major factor hindering the market growth.
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Based on payer service, the healthcare BPO services market is segmented into claims administration, billing, member management, provider management, fraud management, and others. In 2017, the claims administration segment held largest share of the market and the fraud management segment is estimated to register the highest CAGR during the forecast period.
The healthcare BPO services market is expected to witness substantial growth post-pandemic. The global healthcare infrastructure has observed that, in order to develop and maintain sustainable healthcare setup, utilization of digital technologies and digital innovation becomes crucial. Moreover, majority of the market players have focused on development of digital tools in order to increase accessibility, affordability, and accuracy and to fight against coronavirus pandemic. In addition, several number of research centers have actively participated in the building of technologies, processes and channels which are assisting the healthcare employees to work efficiently and to access the resources from their homes while maintaining security. These factors will eventually drive the market growth.
WNS (Holdings) Ltd., Invensis Technologies Pvt Ltd, Cognizant, Infosys Limited, ACCENTURE, Genpact, Xerox Corporation, GeBBS Healthcare Solutions, Capgemini, Omega Healthcare, Flatworld Solutions Pvt. Ltd. And Magellan Solutions are among the leading companies operating in the global healthcare BPO services market .
The report segments healthcare BPO services market as follows:
Healthcare BPO Services Market – by Payer Service
- Claims Administration
- Member Management
- Provider Management
- Billing
- Fraud Management
- Others
Healthcare BPO Services Market – by Provider Service
- Medical Billing
- Finance & Accounts
- Medical Coding
- Others
Healthcare BPO Services Market – by Pharmaceutical Service
- Manufacturing
- Research & Development
- Sales & Marketing
- Supply Chain & Logistics
- Others
By Geography
- North America
- US
- Canada
- Mexico
- Europe
- France
- Germany
- UK
- Spain
- Italy
- Rest of Europe
- Asia Pacific (APAC)
- China
- India
- Japan
- Australia
- South Korea
- Rest of APAC
- Middle East & Africa (MEA)
- Saudi Arabia
- UAE
- South Africa
- Rest of MEA
- South and Central America (SCAM)
- Brazil
- Argentina
- Rest of SCAM
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