Healthcare Business Process Outsourcing (BPO) Market Analysis- Size, Share, Trends, Growth And Forecasts Report To 2022

Published On:July 3, 2017, 4:06 pm

Healthcare Business Process Healthcare Business Process Outsourcing (BPO) is a processin which healthcare providers pick the best-suited third party dealer for a few specific business processes. It helps medical professionals and hospitals to spend their valuableenergy and time on patient care rather than working on some paper work in office. Healthcare BPO is outsourcing of the business procedures which are healthcare suppliers, organizations and payers practice. It has various gains like approachability of competent and experienced employees and that too for efficient cost, less training and administrative cost, higher profitability for healthcare providers. Moreover, healthcare BPO also raises the overall quality of patient care at the same time shrinking the investment intended for infrastructure.

Across the globe, various medical providers and healthcare organizations are constantly searching for methods to aid in running their back office with efficiency in order to concentrate undividedly on patient care which is their key responsibility. Many hospitals are proficient to manage their healthcare accounts assets at the same time preserving healthyand strong doctor-patient relationships, through working with healthcare BPO associates who are skilled in delivering services.

In 2016, the global healthcare BPO market was valued at USD 170.47 billion and is anticipated to register itself at USD 270.79 billion withcompound annual growth rate of 10.2% during the forecast period of 2017 to 2022. A few key market drivers of this market are increasing healthcare expenditure, constant regulatory alterations, the demand to enhance costumer’s operational efficiency and consumer satisfaction andescalating geriatric population. Integration of healthcare systems, constant push on reducing healthcare delivery costs, impersonating The Patient Protection and Affordable Care Act (PPACA), stringent regulations, and complex protocols concerning to clinical trials are some more factors that are fueling the growth of this industry. Also, obligatoryimplementation of ICD-10 codes in the United States and many pharmaceutical hulks facing patent drop-offs are predicted to propel this market industry further. But, improbability over quality of service and fear of dropping control of the process which is outsourced will hinder the market growth of the healthcare BPO industry. The healthcare BPO market industry is broadlysegmented based on the type of healthcare services outsourced into customer services, pharmaceutical services and supplier services.

The key market manufacturers of the global healthcare BPO market are Infosys BPO Ltd. (India), Cognizant Technology Solutions Corporation (U.S.), Firstsource, Genpact, Tata Consultancy Services Ltd. (India), BoehringerIngelheim, Quintiles, Sutherland, Covance, Charles Rivers, HCL, Xerox Corporation (U.S.), Catalent, Xerox Corporation (U.S.), PremierBPO,GeBBS Healthcare,  Accenture PLC (U.S.), Inventiv, Indian Healthcare BPO, Parexel, Lonza, and PPD. Based on the product type, this global market industry is split into Healthcare Provider BPO, Healthcare Payer BPO, and Healthcare Pharmaceutical BPO. Geographically, this market industry is segmented into regions which are United States, Japan, Europe, China, Southeast Asia, and India. Lastly, the end user applications of the global market of this industry are Provider Management, Claim Management, Care Management, Merber Management, and others.

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