Although, healthcare represents only 5-10% of the total BPO deals in the market, which is the relatively low compared to other industries, such as banking, financial services and manufacturing, the potential for growth is high due to the growing demand for quality care. Technological improvements in medical care and the mounting demand for health services are driving a huge change in the healthcare industry. New business models and processes are now reflecting the trends that are shaping the healthcare value chain. For example, with digital technologies renovating processes from electronic records to telemedicine, many healthcare providers are offering services in innovative ways.
Increasing number of people seeking insurance, pressure to cut healthcare delivery costs, consolidation of healthcare system, pharmaceutical companies facing patent cliffs, along with the mandatory implementation of ICD-10 codes are the major factors fuelling the North America Healthcare BPO market.
With the ever-growing demand for healthcare, the need for outsourcing the services is expected to provide niche opportunities for IT companies to poach upon. Some of the major players operating in the healthcare BPO market include Cognizant Technology Solutions Corporation (U.S.), Accenture PLC (U.S.), Genpact Limited, Tata Consultancy Services Ltd. (India), Infosys BPO Ltd. (India) and Xerox Corporation (U.S.).
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