Healthcare BPO Market: Global Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2012-2016 and Forecast 2017-2023
Business Process Outsourcing (BPO) is a process where healthcare providers select the most appropriate third party vendors for some of the specific business procedures. It allows the hospitals and medical professionals to spend their energy and valuable time on patient care rather than doing some paper work in the office. Healthcare BPO is a solution for clients to adopt intelligent approaches that will support the organization to reduce the cost pressures and increase in the overall productivity. Healthcare BPO market provides various solutions, such as front-end services, customer account setup, billing & account receivables, provider network services, enrollment services, claims services, Medicare services, membership services, and pharmacy benefits management.Healthcare BPO market is primarily driven by a few key factors such as lack of in-house trained professionals for specific processes, cost-effective availability of workforce, and lack of industry knowledge. The pressure to decrease delivery costs healthcare sector, rise in number of insurance seeking patients, pharmaceutical companies facing patent expiries, consolidation of the healthcare systems and implementation of the ICD-10 codes and lower cost of manufacturing in developing countries are the major drivers for the healthcare BPO market. However, with the ongoing trends in the healthcare BPO, customers face challenges in data security & reliability, increasing regulatory compliance, and handling huge amount of healthcare data, fear of losing the control over many outsourced process, probability of decreased quality of services or products, and insecurity for the data are the factors anticipated to hamper the healthcare BPO market growth.
A sample of this report is available upon request @
https://www.precisionbusinessinsights.com/market-reports/global-healthcare-bpo-market/#ulp-4H8Z4LpNMLEuOnnx
Healthcare BPO market is segmented on the basis of provider services, payer services, pharmaceutical services, end users, and geographical regions.
Healthcare BPO Market by provider services:
• Medical Billing
• Medical Coding
• Medical Transcription
• Finance & Accounts
Healthcare BPO Market by payer services:
• Integrated Front-end Services and Back-office Operations
• Provider Management
• Claims Management
• Billing and Accounts Management
• HR
• Analytics and Fraud Management
• Member Management
Healthcare BPO Market by pharmaceutical service:
• Manufacturing
• Research and Development
• Non-clinical Services
o Sales and Marketing
o Supply Chain Management and Logistics
o Other Non-clinical Functions
HR
Finance and Accounts
IT
Healthcare BPO Market by end-user:
• Hospital
• Dental Clinics
• Public Service
• Others
To view TOC of this report is available upon request @
https://www.precisionbusinessinsights.com/market-reports/global-healthcare-bpo-market/#ulp-c654SbFYO64MsOhu
The major factor that drives the growth of healthcare BPO is increase in development of healthcare IT. Furthermore, new business models & processes and increase in use of digital technologies in healthcare are driving the growth of healthcare BPO market. Globally healthcare BPO market is expected to grow with a significant CAGR from 2016 to 2027. Rise in geriatric population is expected to be major factor, owing to the susceptibility to several health issues which includes respiratory disorders, cardiovascular diseases (CVD), eye care problems, orthopedic disorders, cancers etc. and rise in the prevalence rate of those diseases led to the increased amount of work for insurance companies. Hence, in order to handle that much of data about huge pool of patients and data of the payer companies need to invest in technology, skilled personnel and infrastructure which led to high operational cost which is anticipated to accelerate the healthcare payer BPO market. Shift from the ICD-9 to ICD-10 coding system posed heavy workload for payers in order to up gradation of their systems, training of staff in turn increases the financial burden. The ICD-9 code system had 13,000 codes, while ICD-10 code system has nearly 68,000 codes. This variation augmented need for HR, accounting, medical coding, skilled personnel and technical operations, hence anticipated to propel the growth of the healthcare BPO markets.
Need more information about this report @
https://www.precisionbusinessinsights.com/market-reports/global-healthcare-bpo-market/#ulp-14mlyhjMGhVjZqa3
Based on geography, the healthcare BPO market can be segmented into five major regions: North America, Europe, Asia-Pacific, Latin America and Middle East & Africa. Currently, North America accounts a leading position in the healthcare BPO market followed by Europe. The major driving factors that have driven the growth of the healthcare BPO market in these regions are steadily increase in changes of regulatory scenario, pressure on healthcare institutions to reduce costs and rising trends for healthcare IT, big data and cloud computing. In the forecast period, Asia-Pacific region is expected to show remarkable growth in the healthcare BPO market as it is developing at a very rapid pace and has shown the emergence of many regional players. The factors that would fuel the growth of healthcare BPO market in Asia-Pacific are increasing awareness regarding various healthcare IT solutions, increase in the number of key players and rapid development in the healthcare infrastructure across the Asian countries.
Some of the top players operating in the healthcare BPO market are QuintilesIMS Inc., HCL Technologies Limited, Accenture, Eli Global, IBM Corporation, Genpact Limited, Parexel, Sutherland, Hewlett-Packard Inc., Truven Health Analytics, United Health Group, Cognizant, Lonza Group Ltd, Accretive Health, Inc., Tata Consultancy Services Ltd, Xerox Corporation, Infosys Limited., and many others.
Get access to full summary @
https://www.precisionbusinessinsights.com/market-reports/global-healthcare-bpo-market
About Precision Business Insights
Precision Business Insights is one of the leading market research and business consulting firm, which follow a holistic approach to solve needs of the clients. We adopt and implement proven research methodologies to achieve better results. We help our clients by providing actionable insights and strategies to make better decisions. We provide consulting, syndicated and customised market research services based on our client needs.
Contact to Precision Business Insights,
Kemp House,
152 – 160 City Road,
London EC1V 2NX
Email: sales@precisionbusinessinsights.com
Toll Free (US): +1-866-598-1553
Website @ https://www.precisionbusinessinsights.com
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Healthcare BPO Market: Global Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2012-2016 and Forecast 2017-2023 here
News-ID: 845994 • Views: …
More Releases from Precision Business Insights
Biochar Market Growth Is Attributed To The Increased Production Of Biochar Throu …
According to Precision Business Insights (PBI), the latest report biochar market was valued at USD 243.8 million in 2022, growing at a 12.6% CAGR during the forecast period 2023 to 2029. The rising demand for organic and eco-friendly products drives the biochar market. Utilizing biochar corresponds with organic farming methods, improving market prospects. Furthermore, biochar is a potential material for water treatment and remediation because of its capacity to absorb…
Vapor Recovery Units Market Growth Is Attributed To The Increased Adoption Of Me …
According to Precision Business Insights (PBI), latest report vapor recovery units market was valued at USD 923.7 million in 2022 and is poised to grow at a CAGR of 4.2% during the forecast period 2023 to 2029. The adoption of stringent environmental regulations by governments and international bodies to reduce air pollution and greenhouse gas emissions in various countries drives the demand for the vapor recovery unit's market. Furthermore, the…
Pyrite Market Growth Is Attributed To The Increased Demand In Jewelry Industry
According to Precision Business Insights (PBI), latest report pyrite market is growing at 4.9% CAGR during the forecast period 2023 to 2029. The increased application of pyrite in the manufacturing of sulfuric acid drives the pyrite market. The increase of prices of gold has led to increased demand for imitation jewelry which is anticipated to propel the pyrite market growth. Furthermore, the demand for sulphuric acid in a variety of…
Industrial Boilers Market Growth Is Attributed To The Increased Use In Power Gen …
According to Precision Business Insights (PBI), the latest report industrial boilers market size was valued at USD 15,261.8 million in 2022 and is poised to grow at a 3.1% CAGR during the forecast period 2023 to 2029. The adoption of stringent environmental regulations to maintain emission standards and carbon reduction in several countries drives the industrial boilers market. Furthermore, the advancement in boiler technology, such as better combustion systems, greater…
More Releases for BPO
Healthcare BPO Market Growing Massively with Infosys BPO Ltd., Eli Global, Gebbs
Healthcare business process outsourcing (BPO) is the practice of healthcare organizations to outsource non-core activities to outside providers. This improves efficiency, saves costs and allows the practice to focus more on its core purpose. Increasing pressure to curb rising healthcare costs, rising demand for niche services and tightening regulations are expected to accelerate the growth of the healthcare business process points market.
Healthcare BPO Market research is an intelligence report with…
Open Access BPO named top BPO company
WASHINGTON DC, March 1, 2021 – Open Access BPO has been recognized as one of the best business process outsourcing (BPO) companies and a top voice service provider in the recent Clutch 2021 Awards.
Market research and B2B review agency Clutch named Open Access BPO in its Top BPO Companies list, having bagged recognitions in multiple categories:
Best Back Office
Best Data Entry
Best Writing & Content Creation
As a Top Voice Services…
BPO Service Market:cheesy, Wipro, ServiceBPO, Accenture, Infosys BPO, Capri
BPO Service Market Overview:
Summary:Excellence consistency maintains by Garner Insights in Research Report in which studies the global BPO Service market status and forecast, categorizes and Equipment market value by manufacturers, type, application, and region.
Get Access to Report Sample: http://bit.ly/2Rqnlu4
The Global BPO Service market Report provides a detailed analysis of the current dynamics of the market with an extensive focus on the secondary research. It also studies current situation of the market…
BPO Czech Republic Market Top Key Players – Accenture , Capgemini , Infosys …
Czech Republic BPO Market
Description
WiseGuyReports.Com adds” BPO Market in the Czech Republic 2015-2019 “Research To Its Database.
Privatization in the Czech Republic has led to the wave of several new investments in the country. The government has formulated several investment-friendly policies that has enhanced the investment competitiveness and taxation conditions in the Czech Republic. Further, efforts regarding simplifying regulations and reduction in administrative barriers have encouraged more FDI inflows to the country.…
Global Healthcare BPO Market that comprises F&A BPO, HR BPO and CRM BPO to grow …
This report studies the global Healthcare BPO market, analyzes and researches the Healthcare BPO development status and forecast in United States, EU, Japan, China, India and Southeast Asia. This report focuses on the top players in global market, like
Quintiles
HCL
Cognizant
Covance
Accenture
Inventiv
Catalent
Parexel
Lonza
Boehringer Ingelheim
Charles Rivers
Sutherland
PremierBPO
Firstsource
PPD
GeBBS Healthcare
Indian Healthcare BPO
Market segment by Regions/Countries, this report covers
United States
EU
Japan
China
India
Southeast Asia
Download Sample Report Copy From Here: http://globalqyresearch.com/download-sample/219239
Market segment by Type, Healthcare BPO can be split into
Healthcare Payer BPO
Healthcare Provider…
BPO Service Market- cheesy, Wipro, ServiceBPO, Accenture, Infosys BPO, Capri
Global BPO Service Market Size, Status and Forecast 2022 provides Market information about Manufacturers, Countries, Type and Application.This BPO Service Industry report also states Company Profile, sales, BPO Service Market revenue and price, market share, market growth and gross margin by regions.The following summary will give an overview of the causes, processes, and possible effects of the market research proposal.
Request for sample copy of report @ https://goo.gl/xUqpPT
Top Manufacturers/Key Players:-
cheesy
Wipro
ServiceBPO
Accenture
Infosys BPO
Capri
The…