Market Scenario

The healthcare BPO helps remove the complexity of tedious tasks. The healthcare BPO services enrich resource allocation, boost financial performance and increase the effectiveness of healthcare providers. The healthcare BPO provides services such as: medical billing & collection medical billing, medical coding, medical data entry, medical records indexing, medical claims processing and others. Technological improvements in medical care & the rising demand for health services from geriatric population are driving a sea of change in the healthcare industry. Moreover, digital technologies have transformed the processes from electronic records to telemedicine.

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However, errors in the healthcare sector, especially in the patient’s medical records can cost lives. Medical bills also contain large number of errors as changing billing rules and regulations are rarely updated on time. Increasing patient inflow result in the occurrence of these types of mistake in the healthcare organizations. Healthcare BPO services can help in avoiding critical billing mistakes as a dedicated team of trained professionals handle medical data entry tasks with maximum accuracy.

Increasing number of healthcare organization, to avoid the critical mistakes in medical billing, and increasing need for cost saving drives the growth of the market. Moreover, increasing number of recovery audits, increasing patient inflow, and increasing prevalence of diseases have provided fuel to the market growth. Furthermore, increasing need a number of medical aspects such as minimizing critical mistakes, the cost saving, number of recovery audits, number of healthcare organizations, patient inflow, demand for niche services, overall demand for delivering better services and better healthcare expenditure have fuelled the growth of the market.

However, on the other hand doubts over service quality may hamper the growth of the market over the review period

The global healthcare BPO market is expected to grow at a CAGR of 12.3% during the forecast period 2017-2023.

Segmentation                                                                                                                                      

The global healthcare BPO market is segmented on the basis of services, into pharmaceutical services, payer services, and provider services.

Key Findings

• The global healthcare BPO market and is expected to reach USD 449,623.8 million by 2023 at CAGR of 12.3%.
• Pharmaceutical service segment accounted for the largest share with 72.2 % in the global healthcare BPO market, by services in 2016.
• Americas hold the largest market share of healthcare BPO market and is anticipated to reach USD 254,713.4 million by the end of the forecast period.
• Asia Pacific is the fastest growing region across the globe and expected to grow at a rate of CAGR 12.6% during the forecast period.

TABLE OF CONTENTS

1  REPORT PROLOGUE

2  INTRODUCTION

2.1 Scope Of Study…………………………………………………………………………………..11

2.2 Research Objective……………………………………………………………………………..11

2.3 Assumptions & Limitations……………………………………………………………………..11

2.3.1 Assumptions……………………………………………………………………………11

2.3.2 Limitations………………………………………………………………………………11

2.4 Market Structure…………………………………………………………………………………12

3  RESEARCH METHODOLOGY

3.1 Primary Research……………………………………………………………………………….14

3.2 Secondary Research……………………………………………………………………………15

3.3 Market Size Estimation…………………………………………………………………………15

3.3.1 Market Share Analysis…………………………………………………………………16

3.4 Market Pricing Approach……………………………………………………………………….17

4  MARKET DYNAMICS

4.1 Introduction………………………………………………………………………………………18

4.2 Drivers…………………………………………………………………………………………….19

4.2.1 Minimizing Critical Mistakes…………………………………………………………..19

4.2.2 Increase In Cost Saving………………………………………………………………..20

4.2.3 Increase In Recovery Audits……………………………………………………………21

4.2.4 Demand For Niche Services……………………………………………………………22

4.3 Restrains…………………………………………………………………………………………23

4.3.1 Doubts Over Service Quality……………………………………………………………23

4.4 Opportunities…………………………………………………………………………………….24

4.5 Trends…………………………………………………………………………………………….24

4.5.1 Adoption Of The BPO Services In Healthcare Sector………………………………..24

4.6 Macroeconomic Indicators……………………………………………………………………..25

5  MARKET FACTOR ANALYSIS

5.1 Value Chain Analysis……………………………………………………………………………26

5.1.1 Product Development & Business Acquisition (PDBA) …………………………….26

5.1.2 Member Management…………………………………………………………………26

5.1.3 Provider Management…………………………………………………………………26

5.1.4 Care Management……………………………………………………………………..27

5.1.5 Claims Management…………………………………………………………………..27

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Key Players                                                                                                         

Some of the key players in this market are QuintilesIMS, HCL Technologies Limited, Covance Inc., IBM, Catalent, Inc., PAREXEL International Corporation, Lonza, Infosys Limited, Charles River Laboratories International, Inc., Genpact, SUTHERLAND, and others.

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