Press release
healthcare payer services market Advancements, Trends and Comprehensive Analysis on Key Market Players 2019 to 2025
Global healthcare payer services market is valued at approximately USD 14.9 billion in 2017and is anticipated to grow with a healthy growth rate of more than 12.2 % over the forecast period 2018-2025. Vigorously changing reforms for healthcare such as technological advancements, rising healthcare expenditure are convincing payers to re-design their business models and processes for sustainable operational excellence while certifying excellent quality patient care. Since these payers’ solutions enables maximize customer service and derive operational excellence for the healthy patient experience and relationship. Thus, growing needs to improve patient care is anticipated to supplement the growth of the healthcare payer services market over the forecast period of 2018-2025.
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The healthcare payer services market is significantly driven by increasing healthcare frauds. According to the Coalition against Insurance Fraud Organization, in year 2015 scams against private and government healthcare insurers forms the largest type of insurance fraud. According to the Coalition against Insurance Fraud Organization, healthcare frauds are likely to steal approx. $10 billion per year. In year 2015, approx. 478 healthcare frauds are reported which directly generates the need for the healthcare payer services across the globe. As healthcare payer services are considered as a successful business model that mitigates the risk of fraud, procurement, administrations and develops cost-effective healthcare processes.
As a result, the demand and adoption of healthcare payer services would increase thereby, aiding the growth of the market across the forecast period. Furthermore, the advent of advanced data analytics offers lucrative growth prospects for the healthcare payer services market. However, rising incidences of data breaches and concerns related to confidentiality is expected to hinder the growth of the market during the forecast period.
Major players profiled in the report
• Cognizant Technology Solutions
• Accenture PLC
• Exlservice Holdings, Inc.
• Concentrix Corporation
• Hinduja Global Solutions Limited
• Hewlett-Packard
• Dell, Inc.
• Xerox Corporation
• HCL Technologies Ltd.
• Wipro Limited
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In this research study, the Global Healthcare Payer Services Market is segmented according to service type, application and end-users.
By Service Type:
• Business Process Outsourcing Services
• Knowledge Process Outsourcing Services
• Information Technology Outsourcing services
By application:
• Claim Management services
• Member Management services
• Provider management services
• Integrated Front-end services and back-offices operations
• Analytics and fraud management services
• Billing and accounts management services
• HR Services
By End-user:
• Public Payers
• Private Payers
By Regions:
• North America
• Europe
• Asia Pacific
• LAMEA
• ROW
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Target Audience of the Global Healthcare Payer Services Market in Market Study:
• Key Consulting Companies & Advisors
• Large, medium-sized, and small enterprises
• Venture capitalists
• Value-Added Resellers (VARs)
• Third-party knowledge providers
• Investment bankers
• Investors
In this study, the years considered to estimate the market size of Global Healthcare Payer Services are as follows:
Historical year – 2015, 2016
Base year – 2017
Forecast period – 2018 to 2025
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