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Massive Growth on Healthcare Payer BPO Market with Profiling Leading Players like – Xerox Corporation, Hinduja Global Solutions, DSM Pharma, Accenture

02-26-2019 10:01 PM CET | Health & Medicine

Press release from: qyreports

Massive Growth on Healthcare Payer BPO Market with Profiling

Global Healthcare Payer BPO market size was expected to grow at CAGR of over +10% over the forecast period 2019-2026 and is expected to reach over USD 35 Billion by 2026. Key factors contributing to industry growth include increased elderly population and health care costs, changes in the ICD-10 coding system, and innovation and development in IT and regulatory changes.

Many public and private organizations outsource administrative tasks to payers to reduce the economic burden, improve operational efficiency, universally provide health services and streamline the delivery of complete services to customers. Outsourcers provide 24-hour customer support to patients, suppliers and other shareholders. Data security and confidentiality issues are constraints on the Healthcare Payer BPO market growth.

If the incidence of such illness increases, the workload of the insurance company will increase. Payers are expected to drive market growth at very high operating costs because they need to invest the resources, they need to secure technology, infrastructure and skilled workforce pools to handle massive billing records, patient records, and rapid turnaround times Forecast period.

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Top key players are including in this report: Xerox Corporation, Hinduja Global Solutions, DSM Pharma, Accenture, Cognizant Technology Solutions, Wipro, Genpact, EXLService, Hewlett-Packard, Catalent, HCL etc.

The company accounts for a significant portion of its capabilities due to BPO's capabilities, technology platforms and its ability to meet the high regulatory and compliance values of the US and European regions. Other well-known companies that have contributed to the global healthcare payer BPO market share are Lonza, Inventive, Boehringer Ingelheim, GeBBS Healthcare, Quintiles and Medusind.

The growing number of elderly people is expected to be a major contributor to a number of health problems, including cardiovascular disease (CVD), respiratory illness, cancer, ophthalmic treatment problems, and orthopedic disorders. I work for an insurance company. In order to process these large amounts of patient and claim data and ensure rapid turnaround times, payment companies are expected to invest in infrastructure, skills and skilled workforce, which is expected to accelerate the Healthcare Payer BPO market with higher operating costs.

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The transition from ICD-9 to the ICD-10 coding system has created an enormous workload that increases the financial burden of payers by upgrading their systems and training their staff. The ICD-9 code system has 13,000 codes, while the ICD-10 code system has almost 68,000 codes. These changes are expected to increase the need for medical coding, HR, accounting, skilled people and other skills to actively support industry growth for the expected period.

The Member Services segment is expected to grow significantly in the future due to the need for value added services, a surge in customer service requirements, and competition for new customer registration and retention of existing customers.

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Major Factors:

• Global Healthcare Payer BPO Market Overview
• Economic Impact on Market
• Market Competition
• Global Healthcare Payer BPO Market Analysis by Application
• Industrial Chain, Sourcing Strategy and Downstream Buyers
• Marketing Strategy Analysis, Distributors/Traders
• Global Healthcare Payer BPO Market Effect, Factors, Analysis
• Global Healthcare Payer BPO Market Forecast

About QYReports:
We at, QYReports , a leading market research report publisher accommodate more than 4,000 celebrated clients worldwide putting them at advantage in today’s competitive world with our understanding of research. Our list of customers include prestigious Chinese companies, multinational companies, SME's and private equity firms whom we have helped grow and sustain with our fact-based research. Our business study covers a market size of over 30 industries offering unfailing insights into analysis to reimagine your business. We specialize in forecasts needed for investing in a new project, to revolutionize your business, to become more customer centric and improve the quality of output.

Contact:
Jones John
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+91-9764607607
sales@qyreports.com
www.qyreports.com

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