(PharmaNewsWire.Com, February 23, 2017 ) According to the report Healthcare BPO market by Provider service, by Payer service, by Pharmaceutical service and by Region - Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts (20162021), published by Market Data Forecast, the global market is projected to reach USD 280.15 Billion by 2020, at a CAGR of 9.81% from 2016 to 2021.
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.
Healthcare BPO market is segmented by Provider service, Payer service, Pharmaceutical service and by Region as follows.
1. Provider Service Medical Billing Medical Coding Medical Transcription Finance & Accounts
2. Payer Service Claims Management Integrated Front-end Services and Back-office Operations Member Management Provider Management Billing and Accounts Management Analytics and Fraud Management HR Services
3. Pharmaceutical Service Research and Development Manufacturing Non-clinical Services - Sales and Marketing services - Supply Chain Management - Other Non-Clinical Applications
4. Geographical Segmentation North America Healthcare BPO market Europe Healthcare BPO market Asia-Pacific Healthcare BPO market Latin America Healthcare BPO market Middle East and Africa 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.).
The Health Care BPO Market study offers the following deliverables:
Global, Regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped.
Segment-level analysis in terms of technology, component, and type along with market size forecasts and estimations to detect key areas of industry growth in detail
Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
Study the micro environment factors that determine the overall profitability of an Industry, using Porters five forces analysis for analysing the level of competition and business strategy development.
A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment.
Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies.
An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions.
Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market.
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