Healthcare BPO Global Market Report 2017 Forecast to 2022 - Key Players Cognizant, Accenture, Xerox, Genpact, TCS, and Infosys are Dominating

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Mar 21, 2018, 07:30 ET

DUBLIN, March 21, 2018 /PRNewswire/ --

The "Healthcare BPO Market by Provider (RCM, Patient Care), Payer (Claims Repricing), Pharmaceutical (R&D, Manufacturing, Sales & Marketing Services), Outsourcing Approaches, Models (Multisourcing) - Global Forecasts to 2022" report has been added to ResearchAndMarkets.com's offering.

The global healthcare BPO market is projected to reach USD 312.43 Billion by 2022 from USD 191.68 Billion in 2017, at a CAGR of 10.2% during the forecast period.

The need to reduce the rising healthcare costs and the implementation of the Patient Protection and Affordable Care Act (PPACA) are factors that compel payers and providers to outsource their business processes to low-cost countries in order to reduce operational costs. Patent cliffs, complex clinical trial protocols, and new reporting requirements are forcing pharmaceutical companies to outsource their R&D and manufacturing processes to other countries, which is driving the healthcare outsourcing market.

In this report, the global healthcare BPO market is segmented on the basis of payer services, provider services, pharmaceutical services, and region. Based on payer services, the healthcare BPO market is segmented into claims management, integrated front-end services and back-office operations, member management, product development and business acquisition, provider management, care management, billing & accounts management services, and HR services. In 2017, the claims management segment is expected to account for the largest share of the market. The increasing adoption of insurance, changing healthcare regulations regarding health insurance and medical claims, scarcity of expertise, and increasing malpractices in healthcare insurance processes have pushed the demand for outsourcing healthcare payer services.

On the basis of provider services, the global healthcare BPO market is divided into revenue cycle management, patient enrolment & strategic planning, and patient care. In 2017, the revenue cycle management segment is expected to account for the largest share of the market. Factors such as decreasing reimbursements in the healthcare industry, reductions in the overall healthcare costs, initiatives undertaken by governments for implementing RCM solutions, and increasing expenditure by the healthcare IT industry are the key factors driving the growth of the revenue cycle management services market.

In 2017, in terms of value, India is expected to account for the largest share of the global healthcare BPO market by destination geography. In terms of value market, the US region is expected to register the highest growth rate from 2017 to 2022. It is the prime source for the outsourcing of healthcare services due to the mandatory implementation of ICD-10 codes and enactment of PPACA.

The fear of losing visibility & control over business processes and reliability and data security & privacy concerns are the major factors expected to restrain market growth.

The key players in the healthcare BPO market are Cognizant (US), Accenture (Ireland), Xerox (US), Genpact (Bermuda), TCS (India), and Infosys (India). These players focused on inorganic strategies such as acquisitions, agreements, and collaborations as well as organic strategies such as product launches and expansions to sustain their growth in the healthcare BPO market.

Market Dynamics

Drivers: Payer Services Market

Regulatory Changes in the US With the Implementation of Ppaca
Pressure to Reduce Rising Healthcare Costs
Demand for Niche Services

Drivers: Provider Services Market

Shift to ICD-10 Coding Standards and Upcoming ICD-11
Loss of Revenue Due to Billing Errors
Increasing Consolidation in the Healthcare Industry
Need for Structured Processes, Documentation

Drivers: Pharmaceutical Service Market

Patent Cliff
Increasing R&D Costs and Strict Regulations

Restraints

Hidden Costs of Outsourcing
Fear of Losing Visibility and Control Over the Business Process

Challenges: Provider Services Market

Dearth of Skilled Workforce
Competition From Hospital Management Companies

Key Topics Covered

1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.2.1 Market Covered
1.2.2 Years Considered for the Study
1.3 Currency
1.4 Limitations
1.5 Stakeholders

2 Research Methodology
2.1 Research Data
2.1.1 Secondary Data
2.1.1.1 Key Data From Secondary Sources
2.1.2 Primary Data
2.1.2.1 Key Data From Primary Sources
2.1.2.2 Breakdown of Primaries
2.1.2.3 Key Industry Insights
2.2 Market Size Estimation
2.3 Market Breakdown and Data Traingulation
2.3.1 Assumptions for the Study

3 Executive Summary

4 Premium Insights
4.1 Healthcare BPO: Market Overview
4.2 US Healthcare BPO Market, By Provider & Pharmaceutical Services (2016)
4.3 Healthcare BPO Patient Care Services Market, By Type, 2017 vs 2022 (USD Billion)
4.4 Healthcare BPO Market, By Destination Geography (2017)

5 Market Overview
5.1 Introduction
5.1.1 Drivers: Payer Services Market
5.1.2 Drivers: Provider Services Market
5.1.3 Drivers: Pharmaceutical Service Market
5.1.4 Restraints
5.1.5 Challenges: Provider Services Market
5.2 Outsourcing Approaches
5.2.1 Bundled Services
5.2.2 Fee for Service
5.2.3 Flexible Contracts
5.2.4 Best-Shore
5.3 Outsourcing Models
5.3.1 Multisourcing
5.3.2 Captive Center
5.3.3 Hybrid Delivery Model
5.3.4 Preferred Provider
5.3.5 Strategic Partnership
5.3.6 Global Delivery Model

6 Healthcare BPO Market, By Provider Service
6.1 Introduction
6.2 Revenue Cycle Management
6.3 Patient Enrollment
6.4 Patient Care
6.4.1 Medical Transcription
6.4.2 Device Monitoring
6.4.3 Medical Imaging

7 Healthcare BPO Market, By Payer Service
7.1 Introduction
7.2 Claims Management Services
7.2.1 Claims Adjudication Services
7.2.2 Claims Settlement Services
7.2.3 Information Management Services
7.2.4 Claims Repricing
7.2.5 Claims Investigation Services
7.2.6 Claims Indexing Services
7.2.7 Fraud Detection and Management
7.3 Integrated Front-End Services and Back-Office Operations
7.4 Member Management Services
7.5 Product Development and Business Acquisition Services
7.6 Provider Management Services
7.7 Care Management
7.8 Billing and Accounts Management Services
7.9 HR Services

8 Healthcare BPO Market, By Pharmaceutical Service
8.1 Introduction
8.1.1 Research & Development
8.1.2 Manufacturing
8.1.3 Non-Clinical Services
8.1.3.1 Supply Chain Management & Logistics
8.1.3.2 Sales and Marketing Services
8.1.3.2.1 Analytics
8.1.3.2.2 Marketing Services
8.1.3.2.3 Research
8.1.3.2.4 Forecasting
8.1.3.2.5 Performance Reporting
8.1.3.3 Other Non-Clinical Functions

9 Geographic Analysis
9.1 Source Geography
9.1.1 US
9.1.2 Europe
9.1.3 RoW
9.2 Destination Geography
9.2.1 India
9.2.2 US
9.2.3 Europe
9.2.4 China
9.2.5 Latin America
9.2.6 Philippines
9.2.7 Middle East
9.2.8 RoW

10 Company Profiles
10.1 Accenture
10.2 Cognizant Technology Solutions
10.3 Firstsource Solutions.
10.4 Gebbs Healthcare Solutions,
10.5 Genpact
10.6 IBM
10.7 Infosys
10.8 Invensis Technologies.
10.9 Lonza
10.10 Omega Healthcare
10.11 Quintiles IMS Holdings,
10.12 R1 RCM
10.13 Tata Consultancy Services
10.14 WNS (Holdings)
10.15 Xerox

For more information about this report visit https://www.researchandmarkets.com/research/gp8bcx/healthcare_bpo?w=5

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