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Global Healthcare BPO Market Report 2022: Market to Reach $441.8 Billion by 2026 - Increasing Healthcare Costs to Drive Inclination towards BPO Services

·4-min read
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Dublin, Aug. 05, 2022 (GLOBE NEWSWIRE) -- The "Healthcare BPO - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.

Global Healthcare BPO Market to Reach $441.8 Billion by 2026

Amid the COVID-19 crisis, the global market for Healthcare BPO estimated at US$311.7 Billion in the year 2022, is projected to reach a revised size of US$441.8 Billion by 2026, registering a compounded annual growth rate (CAGR) of 9.3% over the analysis period.

While traditional services offered by BPOs comprised call centers, member processing, and claims adjudication, new-age BPO providers are re-evolving the service offerings and are creating completely integrated service models that are fully branded by the underwriting insurance company. Some of the innovative offerings of the BPO today include alternate payment services, claims modernization, novel plan design strategy, and analytics.

The United States represents the largest regional market for Healthcare BPO and is projected to reach US$167.7 Billion by 2026. China is expected to spearhead growth and emerge as the fastest growing regional market with a CAGR of 10.6% over the analysis period. The market globally is anticipated to post a significant growth over the short-term owing to the mounting pressure to cut healthcare delivery costs and consolidation of incorporated healthcare systems. The market growth is expected to be propelled by implementation of stringent regulations along with PPACA and clinical trial protocols.

Fueled by these factors, the healthcare BPO market is forecast to reflect an impressive growth rate over the short term. Moreover, patent cliffs faced by various pharmaceutical companies and mandatory enactment of ICD-10 codes within the US are expected to further provide the required impetus to the market.

On the other hand, concerns regarding service quality coupled with apprehensions about losing control over outsourcing are likely to remain key inhibitors in the coming years. The rise in number of individuals getting insured is further driving healthcare organizations to outsource certain services to address the demand for effective healthcare management.

The consolidation of healthcare providers and growing pressure to minimize healthcare costs is further driving the demand for healthcare outsourcing services.

What`s New for 2022?

  • Global competitiveness and key competitor percentage market shares

  • Market presence across multiple geographies - Strong/Active/Niche/Trivial

  • Online interactive peer-to-peer collaborative bespoke updates

  • Access to the digital archives

  • Complimentary updates for one year

Key Topics Covered:

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

  • Influencer Market Insights

  • Impact of Covid-19 and a Looming Global Recession

  • Outlook

  • Segment Review

  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)

2. FOCUS ON SELECT PLAYERS (Total 61 Featured)

  • Accenture Plc

  • Boehringer Ingelheim

  • Catalent Pharma Solutions, Inc.

  • Conduent, Inc.

  • Covance, Inc.

  • Charles River Laboratories International, Inc.

  • Cognizant Technology Solutions Corporation

  • EXLService Holdings, Inc.

  • GeBBS Healthcare Solutions, Inc.

  • Genpact Limited

  • HCL Technologies Limited

  • Infosys BPM Limited

  • IQVIA

  • Lonza Group AG

  • PAREXEL International Corp.

  • Syneos Health

  • Tata Consultancy Services Limited

  • Wipro Limited

  • WNS Global Services Ltd.

3. MARKET TRENDS & DRIVERS

  • Increasing Healthcare Costs to Drive Inclination towards BPO Services

  • Regulatory Challenges Inflate the Demand for Healthcare BPO

  • ICD-10 Coding Standards and Impending Adoption of ICD-11 Standards: Potential for BPO Providers

  • With Many Benefits of Cloud Computing, "The Cloud" Comes With a Silver Lining for BPO Service Providers Struggling to Remain Cost Competitive in the Era of Value Based Care

  • Inherent Advantages of Cloud Computing Make "The Cloud" a Game Changer in the Healthcare BPO Industry

  • Revenue Cycle Management Outsourcing Maximize Revenue Collection Operations

  • Reimbursement Changes Amplify Demand

  • Rise in Healthcare Industry Consolidation Boosts Growth Opportunities

  • Select M&A Deals Involving Large Healthcare Firms

  • Healthcare BPO Market for Pharma Sector

  • Patent Cliffs in Pharma Industry Drive Dependence on BPO Providers

  • Healthcare Analytics Services Address the Challenge of High Data Volumes

  • Industry Witnesses a Surge in Near Shore Outsourcing

4. GLOBAL MARKET PERSPECTIVE

III. REGIONAL MARKET ANALYSIS

IV. COMPETITION

For more information about this report visit https://www.researchandmarkets.com/r/adatun

CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900


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