Healthcare Payer Solution Market is Projected to Reach Faster by 2025 End with Increasing CAGR Value
The key factors that drive the market include the increasing demand for streamlined business processes, increase in healthcare fraud due to outsourcing, better customer services due to the adoption of cost-effective solutions for healthcare payers, and progression of health benefit plan designs.
However, administrative control breakdown and loss of confidentiality may restrain the market growth. On the other hand, due to advanced data analytics, expansion of service portfolio, and usage of Icd-10 standards there will be a further increase in opportunities that will positively impact the market growth.
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The global healthcare payer solution market is segmented on the basis of service type, application, end user, and region. Based on service type, the market is segmented into business process outsourcing (BPO) services, information technology outsourcing (ITO) services, and knowledge process outsourcing (KPO) services. Based on application, the market is segmented into claims management services, member management services, provider management services, integrated front office services & back office operations, billing & accounts management services, analytics & fraud management services, and HR services.
By end user, the market is segmented into private payers and public payers. Geographically the market has been analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, UK, France, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, India, Australia, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, Saudi Arabia, South Africa, and rest of LAMEA).
Cognizant Technology Solutions, Accenture plc, Concentrix Corporation, ExlService Holdings, Inc., Xerox Corporation, Genpact Limited, Hewlett-Packard, Hexaware Technologies Limited, First Source Solutions Limited. HCL Technologies Ltd., Teleperformance Group, Hinduja Global Solutions Ltd., SourceHOV, Sutherland Global Services, and Wipro Limited are some of the key players involved in providing healthcare payer solutions worldwide.
Report Key Benefits:
• The study provides an in-depth analysis of the market with current trends and future estimations to elucidate imminent investment pockets.
• It offers a quantitative analysis from 2016 to 2023, which is expected to enable stakeholders to capitalize on prevailing market opportunities.
• Extensive analysis by product helps understand the various types of solutions used in the healthcare payer solutions market.
• Comprehensive analysis of all geographical regions has been provided, which helps determine prevailing opportunities.
• Key players have been profiled and their strategies thoroughly analyzed, which helps understand the competitive outlook of the global market.
Global Healthcare Payer Solution Market Key Segment:
By Service Type
• Business Process Outsourcing (BPO) services
• Information Technology Outsourcing (ITO) services
• Knowledge Process Outsourcing (KPO) services
• Claims management services
• Integrated front office service and back office operations
• Member management services
• Provider management services
• Billing and accounts management services
• Analytics and fraud management services
• HR Services
By End User
• Private Payers
• Public Payers
• North America
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