Healthcare BPO Market will grow at 8.0% CAGR During 2018 – 2023 | Worldwide Key Players – Accenture, Eli Global, Gebbs, Genpact, IBM, Parexel, Quintiles, Sutherland
Marketprognosis.com Publish a New Market Research Report On “Global Healthcare BPO Market 2018 - 2023” which contains global key player’s survey information and forecast to 2023.Overview of the Global Healthcare BPO Market:
The Global Healthcare BPO Market is expected to register a CAGR of 8.0% during the forecast period, 2018 to 2023.
Business Process Outsourcing (BPO) is a process where healthcare providers select the most suited third-party vendors for some specific business processes. This allows hospitals and medical professionals to spend their valuable time on patient care rather than other mundane jobs in the office.
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As near-shoring gives companies the advantage of similarity in culture, time zone, and languages, and helps them deliver better-quality services, companies have started outsourcing their business processes to BPO service providers based in the same region. Companies have also started focusing on protecting their outsourced businesses and minimizing socioeconomic risks, through similar currency and regulation systems, which are expected to boost the growth of near-shore outsourcing destinations and access to technology. Near-shore providers highlight their advantages as having the best of both worlds, as organizations can work with teams on similar time zones. This approach generates more savings compared to onshore, although it sometimes falls short of the cost savings, when partnering with off-shore providers. Owing to their benefits, rise of near-shore outsourcing destinations and access to technology are driving the market. In addition, the need to reduce administrative cost and overall healthcare cost, no infrastructural cost, and lesser staff training cost, with fewer errors in several non-critical functions, like finance and accounting, customer care services, etc., are expected to supplement the growth of this market.
Although India has grown as a preferred outsourcing destination for healthcare BPO services, several concerns regarding policy framework exist, in terms of tax laws, data privacy laws, IP protection laws, and clinical trial laws. The Health Insurance Portability and Accountability Act (HIPAA), by the United States, defines policies, procedures, and guidelines for maintaining the privacy and security of electronic healthcare transactions, along with outlining offenses and penalties for healthcare violations. Therefore, to provide outsourcing services to overseas vendors, Indian vendors need to comply with international standards of security and privacy, to reduce/avoid business losses. Although the government is gradually taking steps to provide more clarity on these laws, the current scenario is adversely affecting the global healthcare BPO market. Other factors, such as service reliability and data privacy concerns, are hindering the market growth.
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The United States in North America dominates the market for healthcare BPO due to the presence of strong reimbursement framework, high public and private healthcare expenditures, and a high percentage of claim records. There are some of the factors driving the growth of the market in this region. North America has the highest market share, followed by Europe and Asia-Pacific.
Major Key Players:
1 Accenture
2 Eli Global
3 Gebbs
4 Genpact
5 IBM
6 Parexel
7 Quintiles
8 Sutherland
9 Truven Health
10 United Health Group
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What Information does this report contain?
1 A detailed analysis of regulatory trends, drivers, industry pitfalls, challenges and growth opportunities for participants
2 Which are the leading market products, applications & regions and how will they perform by 2023?
3 What are the technologies & innovation trends, how will they evolve by 2023?
4 Which companies lead the industry, how are they positioned in the market in terms of sustainability, competency, production capacity and strategic outlook?
In the end, this report covers data and information on capacity and production overview, production, market share analysis, sales overview, supply, sales, and shortage, import, export and consumption as well as cost, price, revenue and gross margin of Healthcare BPO Market.
Table of Contents:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Key Inferences
5 Market Overview
6 Drivers, Restraints, Opportunities and Challenges Analysis (Droc)
7 Market Segmentation
8 Competitive Landscape
9 Key Players
10 Future Outlook of the Market
About us:
We at Market Prognosis believe in giving a crystal clear view of market dynamics for achieving success in today’s complex and competitive marketplace through our quantitative & qualitative research methods.
We help our clients identify the best market insights and analysis required for their business thus enabling them to take strategic and intelligent decision.
We believe in delivering actionable insights for your business growth and success.
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HCL
Cognizant
Covance
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Inventiv
Catalent
Parexel
Lonza
Boehringer Ingelheim
Charles Rivers
Sutherland
PremierBPO
Firstsource
PPD
GeBBS Healthcare
Indian Healthcare BPO
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EU
Japan
China
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Southeast Asia
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