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BUSINESS PROCESS OUTSOURCING IN HEALTHCARE INDUSTRY: GLOBAL MARKET OPPORTUNITIES AND FORECAST 2021-2027

12-20-2021 11:03 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: MRA

The global healthcare BPO market is projected to reach USD 468.5 billion by 2026 from USD 296.4 billion in 2021, at a CAGR of 9.6% during the forecast period. Healthcare business process outsourcing allows healthcare facilities to contract their non-core activities to an external party and focus on their core competencies. Growth of this market is attributed to the growing outsourcing in the pharma and biopharma industries, need to curtail the escalating healthcare costs, rising demand for niche services (including care management and fraud detection services), and the need for structured processes and documentation in the healthcare industry.

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The major market players include Accent ture (Ireland), Cognizant (US), Tata Consultancy Services (India), Xerox Corporation (US), WNS (Holdings) Limited (India), NTT Data Corporation (Japan), IQVIA (US), Mphasis (India), Genpact (US), Wipro (India), Infosys BPM (India), Firstsource Solutions (India), IBM Corporation (US), HCL Technologies (India), Sutherland Global (US), GeBBS Healthcare Solutions (US), Lonza (Switzerland), Omega Healthcare (India), R1 RCM (US), Invensis Technologies (India), UnitedHealth Group (US), Sykes Enterprises (US), Parexel International (US), Access Healthcare (US), and Akurate Management Solutions (US). (Total 25 companies)

By Provider Service
Revenue Cycle Management
Patient Enrollment
Patient Care
Medical Transcription
Medical Imaging
Device Monitoring
By Payer Service
Claims Management
Claims Adjudication Services
Claims Settlement Services
Information Management Services
Claims Repricing
Claims Investigation Services
Claims Indexing Services
Fraud Detection & Management
Product Development & Business Acquisition (PDBA)
Member Management
Provider Management
Care Management
Integrated Front-End Services and Back-office Operations
Billing and accounts management services
HR Services
By Life Science Service
Manufacturing
R&D
Non-Clinical Services
Supply Chain Management & Logistics
Sales and Marketing Services
Forecasting
Performance Reporting
Analytics
Research
Marketing
Other Non-Clinical Services
By Region
Source Geography
North America
Europe
RoW
Destination Geography
India
China
Philippines
US
Bulgaria & other EU countries
Brazil
Kingdom of Saudi Arabia (KSA)
RoW

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Recent Developments
In May 2021, NTT DATA signed a multi-year agreement with ScoreData to deploy the latter’s nudge engines along with NTT DATA’s Artificial Intelligence (AI) solutions that predict risk for early onset of chronic diseases for health insurance and provider communities
In April 2021, Xerox Corporation acquired Groupe CT, an independent document management provider in Eastern Canada, to accelerate a digital transformation roadmap by combining its document management services expertise and leadership with Xerox’s portfolio of workplace solutions to expand its reach in the North American market
In March 2021, Firstsource Solutions selected IntelliH as its technology partner to deliver turn-key remote patient monitoring solutions to health plans and provider organizations in the US
In May 2020, IQVIA launched HCP/HCO Engagement Management, an end-to-end, orchestrated healthcare professional/organization (HCP/HCO) solution that enables the planning, management, contracting, and payment of HCP/HCOs globally
In March 2020, Wipro partnered with PLEXIS Healthcare Systems, which accelerated digital transformation for healthcare payers by enabling a streamlined, efficient, accurate, and integrated plan administration solution to support healthcare payers and plan sponsors worldwide

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