IMARC Group, a leading market research company, has recently releases report titled “Healthcare BPO Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global healthcare BPO market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How Big is the Healthcare BPO Market?
The global healthcare BPO market size reached US$ 28.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 45.9 Billion by 2028, exhibiting a growth rate (CAGR) of 8.5% during 2023-2028.
Healthcare business process outsourcing (BPO) refers to the process of outsourcing non-core business activities of healthcare institutions to third-party companies. It involves medical coding and billing, data processing activities, and claims processing to maintain the accuracy of medical claims of patients. It enables healthcare facilities to save time and focus on various core business functions and provide quality healthcare services to patients. It also helps healthcare institutions reduce the operational expenses of hiring and training an in-house team. It ensures the security and maintenance of various confidential data, such as payment information, medical records, and personal information of patients.
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What are the growth prospects and trends in the healthcare BPO industry?
At present, the increasing demand for healthcare BPOs to provide quality patient care experience represents one of the primary factors influencing the market positively.
Besides this, the rising construction of various healthcare institutions, such as hospitals, nursing homes, rehabs, and clinics, to provide effective treatment to patients around the world is propelling the growth of the market.
In addition, the growing prevalence of various chronic diseases, such as obesity, thyroiditis, diabetes, and cardiovascular complications, along with the rising geriatric population across the globe, is offering a favorable market outlook. Apart from this, the increasing adoption of healthcare BPO to reduce faults in various noncritical operations and increase employee productivity is supporting the growth of the market.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Payer Service:
- Human Resource Management
- Claims Management
- Customer Relationship Management
- Operational and Administrative Management
- Care Management
- Provider Management
- Others
Breakup by Provider Service:
- Patient Enrollment and Strategic Planning
- Patient Care Service
- Revenue Cycle Management
Breakup by Pharmaceutical Service:
- Manufacturing Services
- Research and Development Services
- Non-clinical Services
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
- Accenture plc
- Cognizant
- GeBBS Healthcare Solutions
- Genpact
- International Business Machines Corporation
- IQVIA
- NTT Data Corporation
- Omega Healthcare
- Parexel International Corporation
- Tata Consultancy Services
- WNS (Holdings) Limited
- Xerox Corporation
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
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