Global Healthcare BPO Market size was valued at USD 395.10 billion in 2022 and is poised to grow from USD 433.03 billion in 2023 to USD 901.58 billion by 2031, growing at a CAGR of 9.60% during the forecast period (2024-2031).
Healthcare BPO market comprises outsourcing of diverse non-core functions in medical organizations. These include billing, claims processing, transcription, and customer assistance. The global market is considerably impacted by the rising need to decrease costs, better access to specialized services, and enhanced efficiency. The market is also fueled by an increasing shift towards optimized care and growing healthcare expenditure.
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Healthcare BPO Market Segmental AnalysisGlobal Healthcare BPO Market is segmented by Payer Service, Provider Service, and region.
Based on Payer Service, the market is segmented into Claims Management Services, Integrated Front-end Service & Back-office Operations, Member Management, Product Development & Business Acquisition (PDBA), Provider Management, Care Management, Billing & Accounts Management Services, HR Service.
Based on Provider Service, the market is segmented into Revenue Cycle Management, Patient Enrolment, and Patient Care.
Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.
Focus on Compliance and Data Security is Trending in Market
With the rising concerns regarding regulatory compliance and data breaches, especially with laws, such as GDPR in the Europe, and HIPAA in the United States, most healthcare BPO companies are actively investing in cybersecurity protection measures. This comprises adopting regular security audits, improved encryption, and proper training for working staff regarding data protection regulations. This ensures better compliance and also creates trust with healthcare providers.
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This report covers following key players:
- Accenture PLC (Ireland)
- Cognizant Technology Solutions Corporation (US)
- Tata Consulting Services Limited (India)
- WNS (Holdings) Limited (India)
- IQVIA Holdings Inc. (US)
- Mphasis (India)
- Genpact Limited (Bermuda)
- Wipro Limited (India)
- Infosys BPM (India)
- Firstsource (India)
- International Business Machines Corporation (US)
- GeBBS Healthcare Solutions (US)
- Capgemini SE (France)
- Omega Healthcare Management Services (India)
- R1 RCM (US)
- Invensis Technologies (India)
- UnitedHealth Group (US)
- HCL Technologies Limited (India)
- Access Healthcare (US)
- Sutherland Global (US)
- Akurate Management Solutions (India)
- AGS Health (India)
Technological Integration of ML and AI to Rise over 4-5 years
The increasing adoption of improved technologies like machine learning and artificial intelligence along with robotic process automation will gain huge popularity in the coming 5 years. These technologies notably enhance effectiveness, scalability, and accuracy in service delivery. In addition to this, predictive analytics is expected to play a key role in the forthcoming years. It will be widely used to enhance operational efficiency and better patient outcomes.
Expansion of Telehealth Support and Emphasis on Patient Experience Management
BPO providers are currently offering committed telehealth services, comprising patient scheduling, remote monitoring, virtual visit co-ordination. This inclination is fueled by continuous demand for telehealth, enabling healthcare companies to manage virtual care and maintaining optimal level of patient engagement. Also, there is an increased focus on improving patient experience via engagement strategies and personalized communication.
Value-Based Care and Collaborative Ecosystems to Grow over Next 10 years
As healthcare systems are inclining towards value-based care, healthcare BPO companies will adapt their facilities to adjust to these models. This comprises reporting services, offering analytics that emphasize better patient results, performance management, and care co-ordination. The future will witness more collaborations among healthcare companies, BPO providers, and technology companies.
Latest Headlines and Headlights
- In June 2024: Simplify Healthcare announced partnership with Capgemini with emphasis on assisting payers improve their operational efficiency, enhance member experiences, and control costs. It will allow payers to use Simplify’s leading technology and Capgemini’s widespread industry expertise to fuel modernizations in the constantly changing healthcare scenario.
- In June 2024: HCLTech announced that it will launch a committed innovative product in Hyderabad. This improved product will serve Olympus’ operations in Europe, the United States, and Middle East and Africa.
- In October 2023: Omega Healthcare introduced its superior (ODP) Omega Digital Platform. This platform is specially designed to lower administrative pressure and considerably enhance financial performance.
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This report covers following segments:
- A. Payer Service
- Claims Management Services
- Product Development & Business Acquisition (PDBA)
- Member Management
- Provider Management
- Care Management
- Integrated Front-End Services and Back-Office Operations
- Billing and Accounts Management Services
- HR Services
- B. Provider Service
- Revenue Cycle Management
- Patient Enrolment
- Patient Care
Integration of Automation to Contribute to Overall Development of Healthcare Ecosystem
Recent trends in healthcare BPO underscore a vibrant landscape transformed by emphasis on patient-centric care, growing innovations in technologies like integration of AI and ML and growing regulatory demands. The integration of improved technologies like automation and AI is significantly evolving operational efficacy, while growth of telehealth services highlights the industry’s adaptability in catering to changing patient demands.
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