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8% CAGR growth by 2023 in Healthcare BPO Market | Dominant Players - ACCENTURE, ELI GLOBAL, GEBBS, GENPACT, IBM, PAREXEL, QUINTILES, SUTHERLAND, UNITED HEALTH GROUP, TRUVEN HEALTH, amongst others.

11-22-2018 06:33 PM CET | Health & Medicine

Press release from: Market Prognosis

US to Lead the Market

North America has the highest market share, followed by Europe and Asia-Pacific. 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.

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Business Process Outsourcing (BPO) is a process where healthcare providers select the most suited third-party vendors for some specific business processes. 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. But the factors, such as service reliability, complex regulations and data privacy concerns, are hindering the market growth.

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Market Segments:
Healthcare BPO market is segmented by:
1. Payer Service: Human Resource Management, Claims Management, Customer Relationship Management (CRM), Operational/Administrative Management, Product Development, Care Management, Provider Management
2. Product Service: Patient Enrollment and Strategic Planning, Medical Billing, Medical Transcription, Device Monitoring, Revenue Cycle Management
3. Pharmaceutical services: Manufacturing outsourcing, Pharmacovigilance Services, Clinical Data Management
4. Geography: North America, South America, Europe, Asia Pacific, Middle East & Africa

Key Developments in the Market
• April 2017 - GeBBS Healthcare Solutions, Inc. had become the latest member of Healthcare Administrative Technology Association (HATA).

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About Market Prognosis
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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