With the emergence and long-term Impact of COVID-19, Global Healthcare BPO Market to reach USD XX Billion by 2028
Bizwit Research & Consulting LLP’s Recent Analysis on Global Healthcare BPO Market is poised to raise up to USD XX Billion by 2028. Healthcare BPO helps in Outsourcing a business activity or process to provide support (administrative or otherwise) to healthcare organizations, staff, and institutions. Coding, billing, transcription, and other common outsourcing projects fall under this category. The healthcare BPO sector handles a variety of activities covering data entry to medical claims processing services. Pressure to lower the escalating healthcare expenditures, insufficient internal expertise in end-use industries, and expanding outsourcing in the pharmaceutical and biopharmaceutical sectors are the reasons behind the increasing use of Healthcare BPO across the forecast period. For Instance: In India, Healthcare BPO and IT services provider has acquired land from IT Service provider to deliver advanced healthcare BPO and IT services to their clients in the healthcare revenue and payer market. Furthermore, in May 2021, NTT DATA signed a multi-year agreement with Score Data to deploy the latter’s nudge engines along with NTT DATA’s Artificial Intelligence (AI) solutions that predict the risk for early onset of chronic diseases for health insurance and provider communities is likely to increase the market growth for the Healthcare BPO during the forecast period.
Geographically, the global Healthcare BPO Market has been segmented into North America, Europe, Asia Pacific (APAC), Latin America, and Middle East and Africa (MEA). North America is the leading region across the world in terms of market share owing to the growing need for cost management and process efficiencies among pharmaceutical companies along with adoption of AI for drug discovery. Whereas Asia-Pacific is anticipated to exhibit the highest growth rate over the forecast period 2022-2028. Factors such as growing establishments of call centers and customer services, the emergence of next-generation services like big data analytics, cloud services, and improving healthcare infrastructure would create lucrative growth prospects for the Healthcare BPO Market across the Asia-Pacific region.
The global Healthcare BPO Market is highly competitive owing to the presence of several key manufacturers such as Accenture, Cognizant, Tata Consultancy Service, Xerox Corporation, WNS (Holdings) Limited, NTT Data Corporation, Mphasis, Wipro, IBM, and others.
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Key findings of the study suggest:
- Global Healthcare BPO Market is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2022-2028.
- In the Provider Service segment, the Revenue Cycle Management segment emerged as the largest segment share in 2021.
- In the Payer Service segment, the Claims segment has emerged as the largest segment share in 2021.
- In the Life Science segment, the Research and Development has emerged as the largest segment share in 2021.
- North America is anticipated to drive regional growth Owing to growing need for cost management and process efficiencies among pharmaceutical companies along with adoption of AI for drug discovery.
- Asia-Pacific is expected to grow at higher rate followed by North America during 2022-2028.
Bizwit Research & Consulting has considered following segments for the study:
Provider Service:
- Revenue Cycle Management
- Patient Enrollment
- Patient Care
Payer Service:
- Claims Management
- Product Development & Business Acquisition(PDBA)
- Member Management
- Integrated Front-End Services and Back-Office Operations
- HR Services
- Billing and Accounts management service
Life Science Service:
- Manufacturing
- R&D
- Non-Clinical Services
- Other Non-Clinical Services
Regional Outlook
- North America
- US
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Korea
- Australia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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