Report : Healthcare BPO Services Market to 2025 - Global Analysis and Forecasts by Payer Service (Claims Administration, Billing, Member Management, Provider Management, Fraud Management, and Others); Provider Service (Medical Billing, Medical Coding, Finance & Accounts, and Others); Pharmaceutical Service (Research & Development, Manufacturing, Sales & Marketing, Supply Chain & Logistics, and Others) and Geography
Medical Billing are Anticipated to Lead the Market of the Global Healthcare BPO services Market by Provider Service Segment
According to a new market research study titled ‘Healthcare BPO services Market to 2025 - Global Analysis and Forecasts by payer service, provider service and pharmaceutical service. The global healthcare BPO services market is estimated to account for US$ 416,431.8 Mn by 2025 as compared to US$ 192,131.6 Mn in 2017, growing at a CAGR of 10.4% during the forecast period from 2018 to 2025. The report highlights the trends prevalent in the global healthcare BPO services market and the factors driving the market along with those fact as restraint to its growth.
The healthcare costs continues to be a significant factor and influences the current and future allocation of budget by the government in every country across the world. The healthcare disparity between various regions have led to constantly changing government regulations and policies for healthcare companies in terms of the priorities and other aspects. For instance, in January 2017, Donald Trump, the US president signed an executive order for immediate repeal of Patient Protection and Affordable Care Act of 2010 (PPACA), that would pose an economic burden on the American people and those involved in the health care industry. The new administration also affecting the country’s regulatory authority (USFDA in this case) to address issues such as high pricing, clearance of orphan drug request backlog and others affects the healthcare companies that are present in the US as well as the ones that have invested in the country. Healthcare companies that are unaware of these constantly changing regulatory policies may endure a significant loss and lose their interest for investing into markets with high growth potentials. The business process outsourcing services that assists these companies by providing a report regarding the constant track changes and helps in creating strategic plans to invest in countries that have favorable policies for the investor is expected to increase the adoption of these services and hence support the growth of market over the years.
The provider service segment of the healthcare BPO services market is classified into medical billing, finance and accounts, medical coding and others. In 2017, Medical billing segment is anticipated to grow at a CAGR of 10.8% during the forecast period. The healthcare BPO offer medical billing services in order to ease the process of billing and the healthcare organizations also gain insight about their cash flow. Thus the medical billing segment in the healthcare BPO market is expected to boost the growth of this market.
Key industry players operating in the field of healthcare BPO services across the globe include Accenture, IBM, WNS (Holdings) Ltd., HCL Technologies Limited., Invensis Technologies Pvt Ltd, Cognizant, Infosys Limited, Tata Consultancy Services Limited, Genpact, Xerox Corporation, GeBBS Healthcare Solutions, Capgemini, Omega Healthcare, Flatworld Solutions Pvt. Ltd., and Magellan Solutions.
The report segments the global Healthcare BPO Services Market as follows:
Global Healthcare BPO Services Market - By Payer Service
Global Healthcare BPO Services Market - By Provider Service
Global Healthcare BPO Services Market - By Pharmaceutical Service
Global Healthcare BPO services Market - By Geography
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