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

Market Analysis:

North America to Lead the Market

North America has the highest market share, followed by Europe and Asia-Pacific. North America dominates the market due to the presence of strong reimbursement framework, high public and private healthcare expenditures, and a high percentage of claim records.

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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. 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. 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.

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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: MaOufacturing 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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