North America Healthcare BPO Market is Expected to Pegged around US$ XX Mn by 2025, Owing to Increased Demand for Health Care Services and Related Management Services.

North America Healthcare BPO Market is Expected to Pegged around US$ XX Mn by 2025, Owing to Increased Demand for Health Care Services and Related Management Services.

“The North America Healthcare BPO Market is anticipated to reach about US$ XX Mn by 2025, and anticipated to expand at a CAGR over seven years of forecast period 2019-2025” due to increased customer account setup, front end services, billing and account receivables, enrollment services, provider network services, claims services, membership services, medicare services and pharmacy benefits management.

Precision Business Insights (PBI) in its report titled “North America Healthcare BPO Market: Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2013-2018 and Forecast 2019-2025” assesses the market performance over seven years forecast period from 2019 to 2025. The report analyses the market value forecast and provides the strategic insights into the market driving factors, challenges that are hindering the market revenue growth over forecast period.

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The North America healthcare BPO market size was accounted for US$ XX Mn in 2018 and anticipated to account for US$ XX Mn by 2025. Increased demand for healthcare services and related management services will create a demand for healthcare BPO.

North America healthcare BPO market segmented on the basis of provider services, payer services, pharmaceuticals services, and end users.

Revenue Cycle Management Segment Expected to Dominate the Market

On the basis of provider service, the market is classified into revenue cycle management, patient enrolment & strategic planning, and patient care. The revenue cycle management is expected to grow at the highest CAGR during the forecast period. Growth in the revenue cycle management market can largely be attributed to factors such as decreasing reimbursements in the healthcare industry, reductions in the overall healthcare costs, initiatives undertaken by governments for implementing RCM solutions, and increasing expenditure by the healthcare IT industry.

Pharmaceutical Services Segment Will Dominate the Revenue Share

Based on type of service, the North America healthcare BPO market is segmented into payer, provider, and pharmaceutical services. The pharmaceutical services segment is expected to account for the largest share of the market. Growth in this segment can be attributed to the increasing competition in the pharmaceutical industry and high operational costs.

U.S, Accounts for Major Revenue Share for North America Healthcare Market

Precision Business Insights (PBI), North America healthcare market report analyses the market in different regions of North America, Geographically North America healthcare biometrics market is segmented as US and Canada. North America healthcare BPO Market is dominated by US. Most of the market players are highly involved in the introduction of innovative products and technologies to the market. U.S. holds a leading position in North America Healthcare BPO Market. The major driving factors which have driven the growth of the North America Healthcare BPO Market are steadily increasing the prevalence of regulatory scenario, pressure on healthcare institutions to reduce costs and rising trends for healthcare IT, big data and cloud computing.

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Strategies such as Mergers and Acquisitions Play Vital Role in North America Healthcare BPO Market

Strategic acquisitions and mergers play an important role in the development of North America healthcare BPO market. For instance, Genpact has announced the acquisition of TandemSeven to extend its ability to help its client provide a seamless experience from the front office all the way to the back office. In October 2016, Quintiles IMS Holdings has successfully completed its merger of Equal’s transaction between IMS Health Holdings, Inc. and Quintiles Transnational Holdings Inc.

Key players in the market include Eli Global (USA), Genpact Limited (USA), IBM Corporation (USA), Parexel (USA), QuintilesIMS Inc. (USA), Sutherland (US), Truven Health Analytics (USA), Cognizant Technology Solutions Corporation (USA), Xerox Corporation (USA), Accretive Health, Inc. (USA).

Detailed Segmentation

By Provider Services Type

o Medical billing
o Medical coding
o Medical transcription
o Finance & accounts
o Revenue cycle management

By Payer Services Type

o Integrated front-end services and back-office operations
o Member management
o Provider management
o Billing and accounts management
o Analytics and fraud management
o HR
o Claims management
 Claims Adjudication
 Claims Settlement
 Information Management
 Claims Repricing
 Claims Investigation
 Claims Indexing
 Litigation Management

By End Users Type

o Hospital
o Dental Clinics
o Public Service
o Others

By Pharmaceutical Services Type

o Research and Development
o Manufacturing
o Non-clinical Services

Geography

o North America
 U.S.
 Canada

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Precision Business Insights,

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Precision Business Insights,

Kemp House,
152 – 160 City Road,
London EC1V 2NX

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