The healthcare BPO market is projected to reach USD 276.79 billion by 2021 USD 170.47 billion in 2016, growing at a CAGR of 10.2% during forecast period (2016–2021). Top players in the industry include Accenture PLC (U.S.), Cognizant Technology Solutions Corporation (U.S.), Infosys BPO Ltd. (India), Tata Consultancy Services Ltd.(India), and Xerox Corporation (U.S.).
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In, healthcare BPO market is broadly segmented on type of healthcare services outsourced into provider services, payer services, & pharmaceutical services. Among destination regions, India & China are most preferred locations to outsource various business processes.
These countries are preferred due to their lower costs of operating businesses and cheaper skilled labor.
U.S. also ranks high as a preferred location in cases where location & skill are more important than cost savings.
Healthcare BPO Market, by Payer Service
- Claims Management
- Integrated Front-end Services and Back-office Operations
- Member Management
- Provider Management
- Billing and Accounts Management
- Analytics and Fraud Management
Healthcare BPO market is broadly segmented on type of healthcare services outsourced into provider services, payer services, and pharmaceutical services. Provider services segment is further segmented into medical billing, medical coding, medical transcription, and finance and accounts.
The medical billing subsegment is expected to account for largest share of provider services segment in 2016.
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Type of contract that a client uses to engage with a vendor is called an outsourcing approach. The outsourcing approaches include bundled services, fee for service, flexible contracts and best shoring.
The overarching strategies commonly adopted by an organization while outsourcing have been listed under outsourcing models. The outsourcing models include multisourcing, captive center, hybrid delivery, preferred provider, strategic partnership and global delivery models.
Healthcare BPO Market, by Pharmaceutical Service
- Research and Development
- Non-clinical Services
- Supply Chain Management (SCM) and Logistics
- Sales and Marketing
- Other Non-clinical Functions
The U.S. is expected to account for the largest share of the healthcare BPO market in 2016. It is the prime source for the outsourcing of healthcare services due to the mandatory implementation of ICD-10 codes and enactment of PPACA.
Europe is the second-largest source for outsourcing healthcare services; this regional market is driven by the need to minimize healthcare delivery costs.
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The healthcare BPO market in this report is segmented by payer services, provider services, pharmaceutical services, and region. The study tracks and analyzes competitive developments such as product launches, agreements, partnerships, and acquisitions, and profiles key players and core competencies in the healthcare BPO market.
From an insight perspective, this research report focuses on the qualitative data, future market size, share, and market potential of various segments and subsegments; competitive landscape; and company profiles. The qualitative data covers various levels of industry analysis such as market dynamics (drivers, restraints, opportunities, and challenges) and trends.
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