Healthcare BPO Market is forecasted to grow at 10.30% for 2018 to 2025 resulting in the market reaching an estimated valuation of USD 419.93 billon by 2025, although concerns regarding the loss of business process control and its visibility with outsourcing in combination with high volume of hidden costs of outsourcing of services; these factors are restricting the market’s growth in the forthcoming period.
Healthcare BPO market will be dominated by North America, due to the availability of advanced IT infrastructure and high quality of healthcare services, whereas Asia-Pacific is expected to be a high growth rate region in the forecasted period to 2025. The factors behind this growth rate are the availability of highly effective resources and solutions while having a vast healthcare knowledge base amongst the service providers.
According to Data Bridge Market Research, healthcare BPO market is being driven by the significant focus of regional authorities and healthcare facilities on the reduction of healthcare services and operating costs. With the increasing volume of errors being witnessed due to administrative errors resulting in high revenue losses, the market for healthcare BPO will witness high demands in its adoption rate caused by the above mentioned factors.
Healthcare industry as a whole has been witnessing consolidation of its operations as the need for delivering effective healthcare services in a more efficient manner that can be achieved with the different standards and regulations imposed by the authorities to ensure better quality of healthcare services.
Along with the above mentioned factors, the requirements of having a specialized structured business process having the appropriate documentations and business model is expected to enhance the market potential of healthcare BPO in the forthcoming period.
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Access Healthcare announced the establishment of their offshore delivery center in Mumbai, India in December 2018 with the center capable of offering healthcare provider and payer services such as revenue cycle operations, customer services, and digital health plan services and claims administration.
Access Healthcare announced the integration of Pacific BPO’s resources, assets and working staff in their business model after the completion of the acquisition of Pacific BPO in September 2018. The combination of the companies is expected to provide a highly advanced service expert with expertise across the various healthcare outsourcing services.
Global Healthcare BPO Market is segmented on the basis of countries into U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, U.K., Italy, Spain, Netherlands, Belgium, Russia, Turkey, Switzerland, Rest of Europe, China, Japan, India, South Korea, Australia, Singapore, Thailand, Malaysia, Indonesia, Philippines, Rest of Asia-Pacific (APAC), U.A.E, Egypt, Saudi Arabia, South Africa, Israel, Rest of Middle East and Africa (MEA).
All country based analysis of the healthcare BPO market is further analysed based on maximum granularity into further segmentation. On the basis of payer service, the market is segmented as claims management, integrated front-end services & back-office operations, member management, PDBA, provider management, care management, billing & account management and HR services. Provider service has been segmented into revenue cycle management, patient enrolment & strategic planning and patient care. Pharmaceutical service has been segmented into manufacturing services, R&D services and non-clinical services.
Healthcare BPO is defined as the outsourcing of healthcare services, tasks and different forms of solutions to a third party service provider. These service providers are skilled in specialized healthcare related solutions and services. This outsourcing enables a better form of administrative management, efficiency and effectiveness of a healthcare facility.
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Key Pointers Covered in the Healthcare BPO Market Industry Trends and Forecast to 2027
Key Market Competitors Covered in the report
Above are the key players covered in the report to know about more and exhaustive list of healthcare BPO companies, contact us https://www.databridgemarketresearch.com/toc/?dbmr=global-healthcare-bpo-market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
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