A recent report on Healthcare Payer BPO Market provides a detailed analysis of the industry size, revenue forecasts and geographical landscape pertaining to this business space. Additionally, the report highlights primary obstacles and the latest growth trends accepted by key players that form a part of the competitive spectrum of this business.
Global Healthcare Payer BPO Market is valued at USD 19876.42 Million in 2019 and expected to reach USD 41789.93 Million by 2025 with the CAGR of 11.2% over the forecast period.
Scope of Global Healthcare Payer BPO Market Report–
Healthcare Payer BPO operations have mainly focused on the operational side of the Payer business with specific focus on improving the efficiency of the process. Some of the key business processes include claims processing contact center, enrollment, and data entry. The BPO participation has tremendously increased the efficiency and brought down the cost of the process on a high scale for the Payers who have participated in this space because of cost arbitration. Thee healthcare BPO services for payers and providers help increase efficiencies and outcomes, reduce costs and risk, improve their Net Promoter Scores and deliver competitive services cost-effectively. But in light of the recent regulatory changes, BPO service providers have to move beyond the traditional lift and shift. The focus instead should be on enhancing the processes in areas like the opportunities that have been brought in by the healthcare reform legislations. By focusing on the following areas, the BPO space can directly contribute to the core of the business areas like utilizations and as well contribute to the operating margin of the payers. Healthcare BPO services enrich resource allocation, boost financial performance and increase the effectiveness of providers. However, the healthcare system is not able to reap the benefits of such expenditure due to process inefficiencies and use of redundant systems.
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The regions covered in this healthcare payer BPO marketreport are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of healthcare payer BPO is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Key Players for Global Healthcare Payer BPO Market Report-
Some major key players for Global Healthcare Payer BPO Market are Cognizant, Xerox, Accenture, Hinduja Global Solutions, Exlservice, HPE, HCL Technologies, Genpact and others.
EXL Achieves Leader and Star Performer Status in Everest Group PEAK Matrix Assessment 2019 for Life and Pensions Insurance BPO Services.
Feb 7th, 2020;The EXL achieved placement as a leader and star performer in the Everest group life & pensions (L&P) insurance BPO services PEAK Matrix Assessment 2019. The description cited EXL as a provider demonstrating double digit growth in gaining market share and the scale of its resources employed across the L&P insurance value chain. Hence, the EXL continues to display strong growth momentum in the L&P insurance BPO/TPA market and is now more aggressively pushing its digital. The company also continues to focus on delivery quality through field specific training value adds services. These are excited that Everest group placed as a leader and star performer based on strong growth and expanding suite of digital solutions.
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Global Healthcare Payer BPO Market Regional Analysis–
North America is expected to dominatedue to the highest market share in terms of profits in overall market of healthcare payer BPO services due to the presence of strong reimbursement framework, high public and private healthcare expenditures, favorable government policies, and a high percentage of claim records in this region. According to the Center for American Progress 2019 in U.S , the NAM’s percentages of billing insurance rate (BIR) costs to recent projections of national health expenditures from the Centers for Medicare and Medicaid Services (CMS), estimates that BIR costs will amount to 496 billion According to CAP’s calculations, this includes 158 billion in overhead for private insurance 56 billion for administration of public insurance programs about 282 billion for the BIR costs of hospitals other care providers.
Key Benefits for Global Healthcare Payer BPO Market Report–
Global Healthcare Payer BPO Market report covers in depth historical and forecast analysis.
Global Healthcare Payer BPO Market research report provides detail information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market opportunities, Competitive Analysis, Regional and Country Level.
Global Healthcare Payer BPO Market report helps to identify opportunities in market place.
Global Healthcare Payer BPO Market report covers extensive analysis of emerging trends and competitive landscape.
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Global Healthcare Payer BPO Market Segmentation:–
Global Healthcare Payer BPO Market: By Type
Claims Processing Services
Finance and Accounts
Global Healthcare Payer BPO Market: By Application
Global Healthcare Payer BPO Market: By Regional & Country Analysis (North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, Latin, America. Brazil, The Middle East and Africa, GCC, Africa, Rest of Middle East and Africa)
Table of Content
1 Study Coverage
1.1 Healthcare Payer BPO Product
1.2 Key Market Segments in This Study
1.3 Key Manufacturers Covered
1.4 Market by Type
1.5 Market by Application
1.6 Study Objectives
1.7 Years Considered
2 Executive Summary
2.1 Global Healthcare Payer BPO Market Size
2.2 Healthcare Payer BPO Growth Rate (CAGR) 2019-2025
2.3 Analysis of Competitive Landscape
2.4 Key Trends for Healthcare Payer BPO Markets & Products
3 Market Size by Manufacturers
3.1 Healthcare Payer BPO Production by Manufacturers
3.2 Healthcare Payer BPO Revenue by Manufacturers
4 Healthcare Payer BPO Production by Regions
4.1 Global Healthcare Payer BPO Production by Regions
4.2 North America
5 Healthcare Payer BPO Consumption by Regions
5.1 Global Healthcare Payer BPO Consumption by Regions
5.2 North America
5.4 Asia Pacific
5.5 Central & South America
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