DUBLIN, May 20, 2022--(BUSINESS WIRE)--The "Healthcare BPO Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.
The global healthcare BPO market reached a value of US$ 25.72 billion in 2021. Looking forward, the market is projected to reach a value of US$ 44.59 billion by 2027, exhibiting a CAGR of 9.10% during 2022-2027.
GeBBS Healthcare Solutions
International Business Machines Corporation
NTT Data Corporation
Parexel International Corporation
Tata Consultancy Services
WNS (Holdings) Limited
Keeping in mind the uncertainties of COVID-19, the analyst is continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
Healthcare business process outsourcing (BPO) refers to a strategy adopted by healthcare organizations for selecting and delegating with the third-party vendors to execute specific business-related operations. It aids in processing claims, analyzing patient data and enrollment, performing strategic planning, and managing accounts, business acquisition and billings.
This, in turn, assists healthcare firms in reducing errors and unauthorized data access, improving workflow, and providing quality services to the patients at reduced operational costs. At present, healthcare BPO is categorized based on its varying service types, such as front-end and backend.
The significant expansion in the healthcare sector, along with the increasing prevalence of various cardiovascular diseases, mostly amongst the rising geriatric population, represents one of the prime factors driving the healthcare BPO market toward growth. This, in turn, is facilitating the growth in the number of hospital admissions across the globe.
Additionally, the rising awareness amongst the consumers regarding the availability of varying health insurance plans and telehealth services is further supporting the market growth. In line with this, rapid technological advancements and the integration of cloud-based BPO solutions in hospitals and clinics for implementing global service delivery models at cost-effective rates are acting as other growth-inducing factors.
Moreover, numerous favorable initiatives undertaken by the government bodies of several nations for adopting BPO strategy for verifying insurance plans, filling, claiming, examining codding errors and ensuring data security due to the escalating instances of data breaches is contributing to the market growth. Other factors, such as extensive utilization of electronic health records (EHR) and electronic medical record (EMR) for recording patient health information, along with significant collaborations amongst key players, are creating a positive outlook for the market.
Key Questions Answered in This Report
How has the global healthcare BPO market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global healthcare BPO market?
What are the key regional markets?
What is the breakup of the market based on the payer service?
What is the breakup of the market based on the provider service?
What is the breakup of the market based on the pharmaceutical service?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global healthcare BPO market and who are the key players?
What is the degree of competition in the industry?
Key Topics Covered:
2 Scope and Methodology
3 Executive Summary
4.2 Key Industry Trends
5 Global Healthcare BPO Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Payer Service
7 Market Breakup by Provider Service
8 Market Breakup by Pharmaceutical Service
9 Market Breakup by Region
10 SWOT Analysis
11 Value Chain Analysis
12 Porters Five Forces Analysis
13 Price Analysis
14 Competitive Landscape
14.1 Market Structure
14.2 Key Players
14.3 Profiles of Key Players
For more information about this report visit https://www.researchandmarkets.com/r/ki3plh
View source version on businesswire.com: https://www.businesswire.com/news/home/20220520005243/en/
Laura Wood, Senior Press Manager
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