The global healthcare BPO market size reached a value of US$ 25.72 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 44.59 Billion by 2027, exhibiting a CAGR of 9.10% during 2022-2027.
Healthcare business process outsourcing (BPO) is the process of selecting a suitable third-party vendor that provides support to healthcare organizations. It aids in executing day-to-day business operations while allowing hospitals and medical professionals to spend their valuable time on patient care. Healthcare BPO includes smart solutions such as Medicare services, strategic planning, business acquisition and billings, pharmacy benefits management, and provider network services. It is also an effective solution that helps organizations reduce operational costs, decrease errors and unauthorized data access, improve workflow, and increase overall productivity.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Base Year: 2021
Forecast Year: 2022-2027
Healthcare BPO Market Trends and Drivers:
The global healthcare BPO market is primarily driven by significant development in the healthcare industry. In addition, the rising demand for clinical process outsourcing and fewer errors in non-critical functions like financing, accounting, and customer care services is also fueling the market growth.
Besides this, the growing prevalence of lifestyle and chronic diseases among individuals is increasing the number of people seeking insurance, which is resulting in the adoption of health BPO solutions by service providers. Moreover, governments of various countries are undertaking several favorable initiatives to adopt a BPO strategy to examine codding errors, ensure data security and verify insurance plans due to the escalating instances of data breaches.
This, coupled with the rising geriatric population and rapid technological advancements, such as the integration of cloud-based BPO services in clinics and hospitals, is expected to propel market growth in the upcoming years.
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Global Healthcare BPO Market 2022-2027 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Accenture plc, Cognizant, GeBBS Healthcare Solutions, Genpact, International Business Machines Corporation, IQVIA, NTT Data Corporation, Omega Healthcare, Parexel International Corporation, Tata Consultancy Services, WNS (Holdings) Limited and Xerox Corporation.
The report has segmented the market on the basis of region, payer service, provider service and pharmaceutical service.
Breakup by Payer Service:
- Human Resource Management
- Claims Management
- Customer Relationship Management
- Operational and Administrative Management
- Care Management
- Provider Management
Breakup by Provider Service:
- Patient Enrollment and Strategic Planning
- Patient Care Service
- Revenue Cycle Management
Breakup by Pharmaceutical Service:
- Manufacturing Services
- Research and Development Services
- Non-clinical Services
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan,India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France,United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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