Global Healthcare BPO Market Overview By Pharmaceutical Service, Payer Services, Provider Services, Trends, Insights, Dynamics, Size and Share Value, Forecast To 2023
Healthcare BPO Market size worth USD 449,623 million with growing at a CAGR of 12% by 2023. Healthcare BPO Industry is anticipated to witness significant growth due to improved resource allocation, reduced operational capital, greater profit margin and superior financial performance, thus improving the effectiveness of capital and others. Advantage of the low-cost labour in developing countries, the growing scope and scale of healthcare BPO services provided by clients such as medical coding, medical billing & collection, medical claims processing, medical data entry, medical records indexing, and others are other drivers of the market. Other drivers are expansion of healthcare and patients, demand for niche services, and others.
Outsourcing also results in lean size and management due to shedding of noncore and specialized functions to an outside agency culminating in sharper focus on core competencies and competitive advantages. Contracting relieves the need of making short time investments in specialized capabilities and resources which may not be present.
Request Free Sample Report at: https://www.marketresearchfuture.com/sample_request/1335
Key Players of Healthcare BPO Market:
Some of the prominent players in this market are QuintilesIMS, HCL Technologies Limited, Cognizant, PAREXEL International Corporation, ACN Healthcare, Accenture, Capgemini, Infosys Limited, Genpact, and others.
The restraints on the market are standardization and interoperability issues compounded by the diverse demands resulting from growing customization, complexities in management and control and quality differentials, and others.
Segmentation of BPO Market in Healthcare :
The market has been divided into segments such as services, types, location, and regions to gain an accurate assessment of the differential market potential and equity across these segments.
Services –payer services (human resource management, claims and billing, customer relationship management (CRM), administrative management, marketing, others), and provider services (patient enrolment, medical coding and monitoring, revenue cycle management, others).
Types – Information technology-enabled services (ITES), Knowledge process outsourcing (KPO), Legal process outsourcing (LPO), and Research process outsourcing (RPO) and others.
Location – Offshore, and Onshore.
Regions – Americas, Europe, Asia Pacific, Middle East & Africa.
Regional Analysis of BPO Healthcare Market:
Asia Pacific is the absolute leader of the global healthcare BPO market. India, followed by China, and Malaysia, lead the Asia Pacific region owing to economics of labour which costs approximately 33 % of the cost of developed regions. Philippines is expected to be the fastest growing market in the Asia Pacific region. Financial attractiveness followed by improvement in business environment, economic and political risks, IP protection and others are the drivers of the Asia Pacific market. India scores on stronger skills base especially language as compared to China but lags behind in business environment.
The Americas led by Brazil and followed by the Chile, Mexico and the U.S. account for the second largest share of the global healthcare BPO market. According to the Centres for Medicare & Medicaid Services, recovery auditors identified approximate USD 2.4 billion as overpayment and USD 175 million as underpayment with 1.1 million claims being registered for recovery of approximately USD 2.5 billion. Europe holds the second position led by UK and Germany.
Europe led by Poland, Bulgaria, Romania and others account for the third largest share. The Middle East & Africa is anticipating moderate growth led by Egypt, Ghana and Morocco.
Brows Full Research Report with TOC on “Global Healthcare BPO Market” at: https://www.marketresearchfuture.com/reports/healthcare-bpo-market-1335
Healthcare BPO Industry Dynamics:
- Minimizing Critical Mistakes
- Increase in Cost Saving
- Increase in Recovery Audits
- Demand for Niche Services
- Doubts Over Service Quality
- Adoption Of The BPO Services In Healthcare Sector
Table Of Content:
- Report Prologue
- Executive Summary
- Market Introduction
- Research Methodology
- Market Factor Analysis
- Global Healthcare BPO, by Technology
- Global Healthcare BPO, by Material
- Global Healthcare BPO, by Application
- Global Healthcare BPO, by End User
- Global Healthcare BPO, by Region
- Competitive Landscape
- Company Profiles
- List of Tables
- List of Figures
- Macroeconomic Indicators
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services. MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients.
Market Research Future
+1 646 845 9312