-- The global healthcare BPO market is expected to rise during the forecast period in 2022. The pharmaceutical service market holds the largest share during the forecast period. Based on the type of services, the healthcare BPO market is segmented into pharmaceutical services, payer, and provider. In 2017, the pharmaceutical services segment is estimated to account for the largest share of the market.
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Healthcare Business Process Outsourcing (BPO) market is projected to reach USD 337.8 Billion by 2023 from USD 211.57 Billion in 2018, growing at a CAGR of 9.81% during the forecast period 2018–2023. 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.
On the basis of provider service, the market is supremely classified as patient enrolment, patient care, strategic planning, and revenue cycle management. The revenue cycle management is expected to witness high growth at the highest CAGR during the forecast period. Growth in the revenue cycle management market can sizably attribute to factors such as reductions in the overall health care costs, decreasing reimbursement in the healthcare industry, initiatives undertaken by governments for executing RCM solutions and increasing expenditure by the healthcare IT industry.
Furthermore, on the basis of geography the market is analysed under various North America, Europe, Asia-Pacific, Latin America and Middle-East & Africa region. The U.S. healthcare payer market has been greatly wedged by the introduction of the PPAC Act. As the act expanded insurance access to more than 35 million U.S. citizens, the rise in claims processing work has led to large-scale outsourcing of these services by payers.
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.).
Complex clinical trial protocols, patient cliffs, and new reporting requirements are influencing pharmaceutical organizations to market their studies and manufacture processes to other countries which are driving the healthcare outsourcing market. Thus, the fear of losing visibility, hidden costs of outsourcing and control over business processes, data security, privacy concerns, and reliability are believed to be the major factors expected to prevent market growth.
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Major Point from Table of Content:
1.Introduction
2.Research Methodology
3.Overview
4.Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
5.Market Segmentation
6.Geographical Analysis
7.Strategic Analysis
8. Market Leaders' Analysis
8.1 Accenture PLC
8.1.1 Overview
8.1.2 Product Analysis
8.1.3 Strategic Evaluation and Operations
8.1.4 Financial analysis
8.1.5 Legal issues
8.1.6 Recent Developments
8.1.7 SWOT analysis
8.1.8 Analyst View
8.2 Cognizant Technology Solutions Corporation
8.3 Tata Consultancy Services Ltd.
8.4 Infosys BPO Ltd.
8.5 Xerox Corporation
8.6 Accretive Health, Inc
8.7 Genpact Limited
8.8 Quintiles Transnational Holdings, Inc
8.9 IBM Corporation
8.10 Lonza Group Ltd.
9. Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10. Expert Opinions
10.1 Market Outlook
10.2 Investment Opportunities
Appendix
a) List of Tables
b) List of Figures
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