Healthcare BPO Market by Payer Services (Claims Management Services [Claims Adjudication Services, Claims Settlement Services, Information Management Services, Claims Repricing, Claims Investigation Services, Claims Indexing Services, Fraud Detection and

In 2023, the healthcare BPO market was estimated at USD 0.11 billion. The Healthcare BPO Market is expected to increase from USD 0.12 billion in 2024 to USD 0.28 billion by 2032, with a compound annual growth rate (CAGR) of 10.01% for the forecast period (2024-2032).

The global market is being driven by regulatory developments, such as the implementation of PPACA and HIPAA, as well as demand to minimize rising healthcare costs.

Globalization and the spread of advantageous commerce between countries accelerate market growth. The increasing consolidation of BPO in the healthcare industry is projected to drive market growth. The consolidation of the healthcare BPO industry has resulted in more outsourcing and intercontinental migration, both of which have a beneficial impact on market growth.

Market Segment insights
The healthcare BPO industry is divided into three service categories: payer services, provider services, and pharmaceutical services. Claims management, integrated front-end and back-office operations, member management, product development and business acquisition services, provider management services, care management solutions, billing and accounts management services, and others are among the payer service categories. Furthermore, claims management services are divided into claims adjudication, claims settlement, information management, claims repricing, claims investigation, claims indexing, and fraud detection and management categories. Furthermore, the provider services are separated into revenue cycle management, patient enrollment, patient care, and others, with patient care further divided into medical transcription and device monitoring. Furthermore, the pharmaceutical services section is segmented into research and development, manufacturing, non-clinical services, and others, as well as supply chain management and logistics, and sales and marketing services.

Regional insights
The market is segmented into four regions: North America, Europe, Asia-Pacific, and the rest of the world. North America was the largest market in 2023, owing to well-developed technology, high healthcare expenditure, and the presence of major companies. People in this region are health-conscious, which contributes to increased healthcare spending.
Europe dominates the market due to well-developed technology, high healthcare expenditure, and the presence of the top competitors. People in this region are health-conscious, which contributes to increased healthcare spending.
Asia Pacific is the fastest expanding market for healthcare BPO because to the continuously changing healthcare sector and the abundance of chances for market development. Furthermore, market expansion has been supported by the development of healthcare industries and organizations, as well as technological advancements.

Major Players
Cognizant (US), Infosys Limited (India), NTT DATA, Inc (Japan), Accenture (Ireland), GeBBS (US), Parexel International (US), Veradigm LLC (US), Oracle Corporation (US), IBM (US), and IQVIA Holdings, Inc (US) are among the key players in the Healthcare BPO market.