Healthcare Payer Solution Market Size to reach $41,906.64 million by 2027 | Valuates Reports

The global healthcare payer services market was valued at $19,409.52 million in 2019, and is projected to reach $41,906.64 million by 2027, registering a CAGR of 10.6% from 2020 to 2027. The growth of the global healthcare payer solution market is majorly driven by rise in cost of healthcare systems and urge to decrease wasteful spending. Moreover, surge in risk of healthcare frauds and increase in demand for streamlined business processes drive the growth of the healthcare payer solution market. Furthermore, rise in health insurance enrolment, increase in adoption of healthcare IT solutions, and implementation of various healthcare reforms such as Patient Protection and Affordable Care Act fuel the growth of the healthcare payer solution market.

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However, surge in incidence of data breaches and loss of confidentiality and cultural & language barriers are anticipated to restrict the growth of the market. On the contrary, high growth potential offered by emerging economies and increase in adoption of AI & analytics are expected to offer lucrative opportunities for the market expansion during the forecast period.

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The global healthcare payer solution market is segmented into service, application, end user, and region. On the basis of service, the market is fragmented into business process outsourcing (BPO) services, information technology outsourcing (ITO) services, and knowledge process outsourcing (KPO) services. By application, it is categorized into pharmacy audit & analysis systems, claims management services, fraud management services, computer-assisted coding (CAC) systems, member eligibility management services, provider network management services, payment management services, customer relationship management services, medical document management services, and general ledger & payroll management. Depending on end user, it is differentiated into private and public end user. Region wise, it is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, the UK, Italy, Spain, France, and rest of Europe), Asia-Pacific (Japan, China, India, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).

Major players operating in the market include UnitedHealth Group Incorporated, McKesson Corporation, HMS Holdings Corp, International Business Machines Corporation, Change Healthcare, Inc., Accentureplc, Cognizant Technology Solutions Corporation, Hinduja Global Solutions Limited, Inovalon Holdings, Inc., and Wipro Limited.

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KEY BENEFITS FOR STAKEHOLDERS

o This report entails a detailed quantitative analysis of the current market trends from 2019 to 2027 to identify the prevailing opportunities along with strategic assessment of the global healthcare payer solution market.
o Market size and estimations are based on a comprehensive analysis of the end users, developments, and services in the industry.
o An in-depth analysis based on region assists to understand the regional market and facilitate the strategic business planning.
o The development strategies adopted by the key market players are enlisted to understand the competitive scenario of the market.

Healthcare Payer Solution Market Segments

By Services

o Business Process Outsourcing Services
o Information Technology Outsourcing Services
o Knowledge Process Outsourcing Services

By Application

o Pharmacy Audit & Analysis Systems
o Claims Management Services
o Fraud Management Services
o Computer-assisted Coding (CAC) Systems
o Member Eligibility Management Services
o Provider Network Management Services
o Payment Management Services
o Customer Relationship Management Services
o Medical Document Management Services
o General Ledger & Payroll Management

By End User

o Private Provider
o Public Provider

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This release was published on openPR.