The Global Healthcare BPO Market is anticipated to accrue a CAGR growth of 12.3% during the review period of 2017 to 2023.Outsourcing is gaining increasing acceptance demonstrated by its most vocal follower, Apple Inc. The healthcare sector is also no exception to this expansive trend.
The healthcare BPO helps remove the complexity of tedious tasks. The healthcare BPO services enrich resource allocation, boost financial performance and increase the effectiveness of healthcare providers. The healthcare BPO provides services such as: medical billing & collection medical billing, medical coding, medical data entry, medical records indexing, medical claims processing and others. Technological improvements in medical care & the rising demand for health services from geriatric population are driving a sea of change in the healthcare industry. Moreover, digital technologies have transformed the processes from electronic records to telemedicine.
However, errors in the healthcare sector, especially in the patient’s medical records can cost lives. Medical bills also contain large number of errors as changing billing rules and regulations are rarely updated on time. Increasing patient inflow result in the occurrence of these types of mistake in the healthcare organizations. Healthcare BPO services can help in avoiding critical billing mistakes as a dedicated team of trained professionals handle medical data entry tasks with maximum accuracy.
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Increasing number of healthcare organization, to avoid the critical mistakes in medical billing, and increasing need for cost saving drives the growth of the market. Moreover, increasing number of recovery audits, increasing patient inflow, and increasing prevalence of diseases have provided fuel to the market growth. Furthermore, increasing need a number of medical aspects such as minimizing critical mistakes, the cost saving, number of recovery audits, number of healthcare organizations, patient inflow, demand for niche services, overall demand for delivering better services and better healthcare expenditure have fuelled the growth of the market.
Profiled in MRFR analysis some of the key players in this market are HCL Technologies Limited (India), Accenture PLC (U.S.), WNS (India) Cognizant Technology Solutions Corporation (U.S.), Xerox Corporation (U.S.), Infosys BPO Ltd. (India), Tata Consultancy Services Ltd. (India) and others.
Inorganic growth strategy is expected to truimp organic growth. For example, in April, 2017 – Accenture acquired Genfour, with an aim to expand intelligent automation services capabilities.
Poor performances of health insurance exchanges (HIXs) which had generated much enthusiasm after the enactment of Patient Protection and Affordable Care Act is a threat to the future market growth and equity.
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The global healthcare BPO market is segmented on the basis of services. On the basis of services, it is segmented into pharmaceutical services, payer services, and provider services.
1 Report Prologue
2 Market Introduction
2.2 Scope of Study
2.3 Research Objective
2.4 Assumptions & Limitations
3 Research Methodology
3.1 Research Process
3.2 Primary Research
3.3 Secondary Research
4 Market Dynamics
5 Market Factor Analysis
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