Healthcare BPO Services Market Trends| Industry Forecast 2025

Healthcare BPO Services Market to 2025 - Global Analysis and Forecasts by Payer Service (Claims Administration, Billing, Member Management, Provider Management, Fraud Management, and Others); Provider Service (Medical Billing, Medical Coding, Finance & Accounts, and Others); Pharmaceutical Service (Research & Development, Manufacturing, Sales & Marketing, Supply Chain & Logistics, and Others) and Geography

Publication Month : Nov 2018

  • Report Code : TIPTE100000461
  • Category : Healthcare IT
  • Status : Published
  • No. of Pages : 171
Inquire Before Buy

PRICING

$4550

$2730

The healthcare BPO services market was valued at US$ 35,818.9 million in 2017, it is estimated to grow at a CAGR of 8.6% from 2018 to 2025.

Healthcare Business Processing Outsourcing (BPO) offers customized solutions to the healthcare providers and payers to reduce the complexity of various tedious tasks involved at several stages of the workflow and establishment. These services are also helpful to enrich resource allocation, boost the financial performance of the company/organization, seek strategic growth support as well as reduce operational costs to maximize profit margins. The growth of the healthcare BPO services market is attributed to the constant changes in government regulations, mounting pressure on healthcare providers to reduce healthcare costs, rising consolidation in the healthcare BPO industry. However, hidden costs of outsourcing and dearth of skilled professionals and researchers is the major factor hindering the market growth.

The healthcare BPO services market is expected to witness substantial growth post-pandemic. The global healthcare infrastructure has observed that, in order to develop and maintain sustainable healthcare setup, utilization of digital technologies and digital innovation becomes crucial. Moreover, majority of the market players have focused on development of digital tools in order to increase accessibility, affordability, and accuracy and to fight against coronavirus pandemic. In addition, several number of research centers have actively participated in the building of technologies, processes and channels which are assisting the healthcare employees to work efficiently and to access the resources from their homes while maintaining security. These factors will eventually drive the market growth.

Lucrative Regions for Healthcare BPO Services Market



Lucrative Regions for Healthcare BPO Services Market
  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
  • Request discounts available for Start-Ups & Universities

Market Insights

Constant Changes in Government Regulations to Drive Healthcare BPO Services Market Growth

The healthcare costs continues to be a significant factor and influences the current and future allocation of budget by the government in every country across the world. The healthcare disparity between various regions have led to constantly changing government regulations and policies for healthcare companies in terms of the priorities and other aspects. For instance, in January 2017, Donald Trump, the US president signed an executive order for immediate repeal of Patient Protection and Affordable Care Act of 2010 (PPACA), that would pose an economic burden on the American people and those involved in the health care industry. The new administration also affecting the country’s regulatory authority (USFDA in this case) to address issues such as high pricing, clearance of orphan drug request backlog and others affects the healthcare companies that are present in the US as well as the ones that have invested in the country. 

Similarly, Section 3d of the Indian Pharma Act does not approve and allow the marketing and use of a drug that is in altered form of an already known molecule and fails to represent improved efficacy over the prevalent one in the market, which is not the case in case of other countries such as the U.S., Australia, UK and are approved for their use. Additionally, the Indian government in 2016 had banned 350 fixed dose combination drugs, however mounting legal challenges by the pharmaceutical industry prompted the Supreme Court to call a review by an advisory board and remove the ban. However, in September 2018, the health ministry of India re-banned the manufacture, sale and distribution of 328 fixed dose combination of drugs with immediate effects and restricted another six drugs. Healthcare companies that are unaware of these constantly changing regulatory policies may endure a significant loss and lose their interest for investing into markets with high growth potentials. The business process outsourcing services that assists these companies by providing a report regarding the constant track changes and helps in creating strategic plans to invest in countries that have favorable policies for the investor is expected to increase the adoption of these services and hence support the growth of market over the years.

 

Payer Service -Based Insights

In terms of payer service, the healthcare BPO services market is segmented into claims administration, billing, member management, provider management, fraud management, and others. In 2017, the claims administration segment held largest share of the market and the fraud management segment is estimated to register the highest CAGR during the forecast period.

Healthcare BPO Services Market, by Payer Service, 2017 & 2025    

              


Healthcare BPO Services Market, by Payer Service, 2017 & 2025                  
  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
  • Request discounts available for Start-Ups & Universities
 

Provider Service -Based Insights

Based on provider service, the healthcare BPO services market is segmented into medical billing, medical coding, finance & accounts and others. The medical billing segment held the largest share of the market in 2017. Also, the same segment is estimated to register highest CAGR during the forecast period.

Pharmaceutical Service -Based Insights

In terms of pharmaceutical service, the healthcare BPO services market is segmented into research & development, manufacturing, sales & marketing, supply chain & logistics, and others. The manufacturing segment held the largest share of the market in 2017.

Customize Research To Suit Your Requirement

We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.

Healthcare BPO Services Market: Strategic Insights

healthcare-bpo-market
Market Size Value inUS$ 35,818.9 Million in 2017
Market Size Value byUS$ 68,198.3 Million by 2025
Growth rateCAGR of 8.6% from 2018-2025
Forecast Period2018-2025
Base Year2018
Analyst Image

Akshay

Have a question?

Akshay will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.

Analyst Image  Speak to Analyst

The healthcare BPO services market players are adopting the product launch and expansion strategies to cater to changing customer demands worldwide, which also allows them to maintain their brand name globally.

Healthcare BPO Services Market – by Payer Service

  • Claims Administration
  • Member Management  
  • Provider Management  
  • Billing
  • Fraud Management
  • Others

 

Healthcare BPO Services Market – by Provider Service

  • Medical Billing
  • Finance & Accounts
  • Medical Coding 
  • Others

Healthcare BPO Services Market – by Pharmaceutical Service

  • Manufacturing
  • Research & Development 
  • Sales & Marketing 
  • Supply Chain & Logistics 
  • Others

Healthcare BPO Services Market – by Geography

  • North America

    • US
    • Canada
    • Mexico
  • Europe

    • France
    • Germany
    • Italy
    • UK
    • Spain
    • Rest of Europe
  • Asia Pacific (APAC)

    • China
    • India
    • South Korea
    • Japan
    • Australia
    • Rest of APAC
  • Middle East & Africa (MEA)

    • South Africa
    • Saudi Arabia
    • UAE
    • Rest of MEA
  • South America and Central America (SCAM)

    • Brazil
    • Argentina
    • Rest of SCAM

Company Profiles

  • WNS (Holdings) Ltd.
  • Invensis Technologies Pvt Ltd
  • Cognizant, Infosys Limited
  • ACCENTURE
  • Genpact, Xerox Corporation
  • GeBBS Healthcare Solutions
  • Capgemini
  • Omega Healthcare
  • Flatworld Solutions Pvt. Ltd.
  • Magellan Solutions.
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Payer Service ; Provider Service ; Pharmaceutical Service and Geography

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina

The List of Companies - Healthcare BPO Services Market

1. Accenture
2. IBM
3. WNS (Holdings) Ltd.
4. HCL Technologies Limited.
5. Invensis Technologies Pvt Ltd
6. Cognizant
7. Infosys Limited
8. Tata Consultancy Services Limited
9. Genpact
10. Xerox Corporation
11. GeBBS Healthcare Solutions
12. Capgemini
13. Omega Healthcare
14. Flatworld Solutions Pvt. Ltd., and
15. Magellan Solutions

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

Your data will never be shared with third parties, however, we may send you information from time to time about our products that may be of interest to you. By submitting your details, you agree to be contacted by us. You may contact us at any time to opt-out.

Trends and growth analysis reports related to Healthcare BPO Services Market