Healthcare BPO Market By Services Type (Provider Outsourcing Services, Payer Outsourcing Services, Operational Outsourcing Services, IT Infrastructure Management Services), By End User (Healthcare Providers, Healthcare Payers, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032
The Healthcare BPO Market was valued for $121,591.84 million in 2022 and is estimated to reach $282,284.75 million by 2032, exhibiting a CAGR of 8.7% from 2023 to 2032.
Healthcare BPO refers to the business activity or process that is outsourced and offers administrative or other assistance to medical organizations, personnel, and institutions. Healthcare BPO involves services such as coding, billing services, and transcription. It is an activity in which healthcare providers are getting their certain job functions done outside the company instead of having an in-house department for operations such as medical billing. In other word, healthcare providers hire a third-party firm to perform the job for them. The most common BPO services are medical billing and coding, claims processing, and data entry service.
The growth of the global healthcare BPO market is driven by surge in demand of structured processes and documentations, increase in adoption of health insurance, and rise in prevalence of chronic diseases. Moreover, large healthcare IT firms all over the world increasingly focus on providing cost-effective and accurate healthcare outsourcing services, which is expected to notably contribute toward the market growth.
The prime reason for outsourcing is to reduce operational cost. Companies can outsource the work to a service provider, decreasing or even reducing overhead expenses, rather than purchasing IT equipment and recruiting more personnel to do diverse jobs. Furthermore, the global healthcare BPO market growth is driven by factors such as improvements in healthcare infrastructure, various initiatives & funding from government & private bodies for large-scale healthcare BPO market projects and rise in adoption of the advanced infrastructure. Prominent players in the global healthcare BPO market ensure hustle-free business operations and cost-effective & accurate healthcare services, which drives the growth of the market.
The global healthcare BPO market is segmented into service type, end user, and region. On the basis of service type, the market is categorized into provider outsourcing services market, payer outsourcing services, operational outsourcing services, and IT infrastructure management services. Depending on end user, it is classified into healthcare providers, healthcare payers, and others. Region wise, the market is studied across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).
Major companies profiled in the report include Accenture, GeBBS Healthcare Solutions, Tata Consultancy Services Ltd., Cognizant, R1 RCM Inc, Genpact Ltd, Invensis Technologies Pvt Ltd, IQVIA, Wipro, and Infosys BPM Limited.
Key Benefits For StakeholdersThis report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the healthcare bpo market: global opportunity analysis and industry forecast 2020–2027 market analysis from 2022 to 2032 to identify the prevailing healthcare bpo market: global opportunity analysis and industry forecast 2020–2027 market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the healthcare bpo market: global opportunity analysis and industry forecast 2020–2027 market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global healthcare bpo market: global opportunity analysis and industry forecast 2020–2027 market trends, key players, market segments, application areas, and market growth strategies.
Key Market SegmentsBy Services TypeProvider Outsourcing Services
Service
Medical Document Management Services
Pharmacy Information Management Services
Laboratory Information Management Services
Revenue Cycle Management Services
Others
Payer Outsourcing Services
Service
Claims Management
Customer Relationship Management Services
Billing and Accounts Management Services
Fraud Detection Services
Others
Operational Outsourcing Services
Service
Supply Chain Management Services
Business Process Management Services
Others
IT Infrastructure Management Services
By End UserHealthcare Providers
Healthcare Payers
Others
By RegionNorth America
U.S.
Canada
Mexico
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
LAMEA
Brazil
Saudi Arabia
South Africa
Rest of LAMEA
Key Market Players
Accenture
R1 RCM Inc.
Genpact Ltd.
IQVIA
Tata Consultancy Services Ltd.
Wipro
GeBBS Healthcare Solutions
Cognizant
Invensis Technologies Pvt Ltd
Infosys BPM Limited
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