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The Healthcare BPO Market Size was valued at USD 355.98 billion in 2023 and is expected to reach USD 741.70 billion by 2031 and grow at a CAGR of 9.61% over the forecast period 2024-2031.
Healthcare Business Process Outsourcing (BPO) is a method that allows healthcare organisations to choose the best third-party vendors for certain business operations. As a result, medical professionals and hospitals must devote more of their time to patient care. It is an option for clients that are willing to accept clever ways that benefit the organisation by lowering costs and enhancing overall productivity. The Healthcare BPO Market delivers solutions such as Medicare services, pharmaceutical benefits administration, and provider network services.
DRIVERS
Clinical Process Outsourcing is Increasing at a Rapid Pace
The passage of the Patient Protection and Affordable Care Act (PPACA) forced healthcare providers to outsource.
In the pharmaceutical and biopharmaceutical industries, outsourcing is becoming more common.
There is a lot of pressure to cut healthcare expenses because they are skyrocketing.
Increased Access to Technology and Nearshore Outsourcing Destinations
RESTRAINTS
Outsourcing charges that aren't disclosed
Loss of visibility and control over the business process is a source of concern.
OPPORTUNITIES
Data analytics of the highest level
Artificial intelligence-based drug discovery techniques are becoming increasingly popular.
CHALLENGES
Data collection in Medicaid programmes has some limitations.
Concerns about data privacy
The COVID 19 epidemic, which is affecting the entire world, has had a devastating effect on the lives of many people. The economy is in a shambles due to closing time and closing time. This has forced the economy into an inevitable recession. As a result, coping with the new set of epidemics has proved challenging. The healthcare industry is weakening due to the outbreak of coronavirus, as most BPO workers live in remote areas and are forced to leave their homes due to the epidemic.
COVID 19 has had a profound effect on how people work and live. Companies should develop their strategies after a thorough examination of the BPO healthcare market and in line with market demand to return to normalcy. The release of the health care business process is likely to return in the second half of this year, according to Healthcare BPO Market.
By Provider Service Type
Revenue Cycle Management, Patient Enrollment & Strategic Planning, and Patient Care are the three segments that make up the market. Medical Transcription, Medical Imaging, and Device Monitoring are the three segments that make up the Patient Care segment. The most rapid expansion is seen in the Revenue Cycle Management area. This is due to an increase in the number of cases of billing errors and reimbursement errors. The hospital staff must devote a significant amount of time to these processes. These issues are efficiently resolved by professionals when they are outsourced, saving time.
By Payer Service Type
Claims Management, Member Management, Provider Management, Product Development and Business Acquisition, Integrated Front-end Services & Back-office Operations, Care Management, Billing & Accounts Management Services, and HR Services are the categories in which the industry is divided. The fastest-growing segment is expected to be Product Development and Business Acquisition. This is due to an increase in the number of people purchasing health insurance and plans. As a result, providers must seek guidance on how to mitigate the risks involved.
By Pharmaceutical Services Type
Manufacturing Services, R&D Services, and Non-clinical Services are the three segments of the market. Sales & Marketing Service, SCM, and Other Non-clinical Services are divided into the non-Clinical category. The Non-Clinical Services segment is expected to increase at the fastest rate. Pricing pressure and the need for big field forces are to blame for this.
North America dominated the healthcare BPO industry, followed by Europe and the Rest of the World. Pharmaceutical businesses in the region, particularly in the United States, are under considerable price pressures as a result of the Medicare Prescription Medication Coverage (Part D) program, which provides prescription drug coverage to all Medicare beneficiaries. Furthermore, the patent expiration of some blockbuster pharmaceuticals is projected to have an impact on large pharmaceutical companies' revenue in the United States and Canada. Taking these aspects into account, a number of pharmaceutical companies are focused on cost reduction through outsourcing, which is propelling the market in North America forward.
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Some of the major key players of Healthcare BPO Market are as follows: Accenture, IQVIA, Cognizant Technology Solutions Corp, Accretive Health, Lonza Group AG, Genpact Ltd, Infosys BPO Ltd, Xerox Corp, Tata Consultancy Services Ltd, Quintiles, Inc. and Other Players.
| Report Attributes | Details |
|---|---|
| Market Size in 2023 | US$ 355.98 Billion |
| Market Size by 2031 | US$ 741.70 Billion |
| CAGR | CAGR of 9.61% From 2024 to 2031 |
| Base Year | 2023 |
| Forecast Period | 2024-2031 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Provider Service Type (Revenue Cycle Management, Patient Enrollment, Patient Care) • By Payer Service Type (Claims Management, Integrated Front-end Services and Back-office Operations, Member Management Product Development and Business Acquisition (PDBA), Provider Management Care Management, Billing & Accounts Management Services, HR Services) • By Pharmaceutical Services Type (Manufacturing Services, R&D Services, Non-clinical Services, Sales & Marketing Services, SCM) |
| Regional Analysis/Coverage |
North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe [Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia, Rest of Latin America) |
| Company Profiles | Accenture, IQVIA, Cognizant Technology Solutions Corp, Accretive Health, Lonza Group AG, Genpact Ltd, Infosys BPO Ltd, Xerox Corp, Tata Consultancy Services Ltd, Quintiles, Inc. |
| DRIVERS | • Clinical Process Outsourcing is Increasing at a Rapid Pace • The passage of the Patient Protection and Affordable Care Act (PPACA) forced healthcare providers to outsource. • In the pharmaceutical and biopharmaceutical industries, outsourcing is becoming more common. |
| RESTRAINTS | • Outsourcing charges that aren't disclosed • Loss of visibility and control over the business process is a source of concern. |
Ans: The Healthcare BPO market size is estimated to reach US$ 741.70 bn by 2031.
Revenue Cycle Management, Patient Enrollment, Patient Care are the sub segments of Healthcare BPO market.
Key drivers of the Healthcare BPO Market is there is a lot of pressure to cut healthcare expenses because they are skyrocketing, Increased Access to Technology and Nearshore Outsourcing Destinations.
Healthcare Business Process Outsourcing (BPO) is a method that allows healthcare organisations to choose the best third-party vendors for certain business operations. As a result, medical professionals and hospitals must devote more of their time to patient care.
Ans: The Healthcare BPO Market is to grow at a CAGR of 9.61% over the forecast period 2024-2031.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine ware
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Healthcare BPO Market Segmentation by Provider Service Type
8.1 Revenue Cycle Management
8.2 Patient Enrollment
8.3 Patient Care
9. Healthcare BPO Market Segmentation, By Payer Service Type
9.1 Claims Management
9.2 Integrated Front-end Services and Back-office Operations
9.3 Member Management Product Development and Business Acquisition (PDBA)
9.4 Provider Management Care Management
9.5 Billing & Accounts Management Services
9.6 HR Services
10. Healthcare BPO Market Segmentation, By Pharmaceutical Services Type
10.1 Manufacturing Services
10.2 R&D Services
10.3 Non-clinical Services
10.4 Sales & Marketing Services
10.6 SCM
11. Regional Analysis
11.1 Introduction
11.2 North America
11.2.1 USA
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 Germany
11.3.2 UK
11.3.3 France
11.3.4 Italy
11.3.5 Spain
11.3.6 The Netherlands
11.3.7 Rest of Europe
11.4 Asia-Pacific
11.4.1 Japan
11.4.2 South Korea
11.4.3 China
11.4.4 India
11.4.5 Australia
11.4.6 Rest of Asia-Pacific
11.5 The Middle East & Africa
11.5.1 Israel
11.5.2 UAE
11.5.3 South Africa
11.5.4 Rest
11.6 Latin America
11.6.1 Brazil
11.6.2 Argentina
11.6.3 Rest of Latin America
12. Company Profiles
12.1 Accenture
12.1.1 Financial
12.1.2 Products/ Services Offered
12.1.3 SWOT Analysis
12.1.4 The SNS view
12.2 IQVIA
12.3 Cognizant Technology Solutions Corp
12.4 Accretive Health
12.5 Lonza Group AG
12.6 Genpact Ltd
12.7 Infosys BPO Ltd
12.8 Xerox Corp
12.9 Tata Consultancy Services Ltd
12.10 Quintiles, Inc.
13. Competitive Landscape
13.1 Competitive Benchmark
13.2 Market Share Analysis
13.3 Recent Developments
14. Conclusion
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By Provider Service Type
Revenue Cycle Management
Patient Enrollment
Patient Care
By Payer Service Type
Claims Management
Integrated Front-end Services and Back-office Operations
Member Management Product Development and Business Acquisition (PDBA)
Provider Management Care Management
Billing & Accounts Management Services
HR Services
By Pharmaceutical Services Type
Manufacturing Services
R&D Services
Non-clinical Services
Sales & Marketing Services
SCM
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REGIONAL COVERAGE:
North America
US
Canada
Mexico
Europe
Eastern Europe
Poland
Romania
Hungary
Turkey
Rest of Eastern Europe
Western Europe
Germany
France
UK
Italy
Spain
Netherlands
Switzerland
Austria
Rest of Western Europe
Asia Pacific
China
India
Japan
South Korea
Vietnam
Singapore
Australia
Rest of Asia Pacific
Middle East & Africa
Middle East
UAE
Egypt
Saudi Arabia
Qatar
Rest of the Middle East
Africa
Nigeria
South Africa
Rest of Africa
Latin America
Brazil
Argentina
Colombia
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