HOME Press Releases Healthcare BPO Market worth 276.79 Billion USD by 2021



Healthcare BPO Market worth 276.79 Billion USD by 2021


The report "Healthcare BPO Market Provider (Billing), Payer (Claims Management), Pharmaceutical (R&D, Non-Clinical (SCM, Sales and Marketing (Forecasting, Analytics))), Outsourcing Approaches (Bundled), & Models (Multisourcing, Captives) - Global Forecasts to 2021", provides a detailed overview of the major drivers, restraints, challenges, opportunities, current market trends, and strategies impacting the healthcare BPO market along with the estimates and forecasts of the revenue.

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Browse 93 market data tables with 56 figures spread through 170 pages and in-depth TOC on "Healthcare BPO Market Provider (Billing), Payer (Claims Management), Pharmaceutical (R&D, Non-Clinical (SCM, Sales and Marketing (Forecasting, Analytics))), Outsourcing Approaches (Bundled), & Models (Multisourcing, Captives) - Global Forecasts to 2021"
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The healthcare BPO market is projected to reach USD 276.79 Billion by 2021 from USD 170.47 Billion in 2016, growing at a CAGR of 10.2% during the forecast period (2016–2021).

The pressure to reduce healthcare delivery costs, consolidation of healthcare systems, enactment of PPACA, stringent regulatory requirements, and complex clinical trial protocols are the major drivers for the healthcare BPO market. Mandatory implementation of ICD-10 codes in the U.S. and several pharmaceutical companies facing patent cliffs are expected to further drive the growth of the healthcare BPO market. However, fear of losing control over the outsourced process and doubts over service quality will restrain the growth of this market.

The healthcare BPO market is broadly segmented on the type of healthcare services outsourced into provider services, payer services, and pharmaceutical services. The provider services segment is further segmented into medical billing, medical coding, medical transcription, and finance and accounts. The medical billing subsegment is expected to account for the largest share of the provider services segment in 2016, owing to an increase in the number of people insured and seeking medical services.

On the basis of payer services, the healthcare BPO market is categorized into claims management, front-end/back-office operations, member management, provider management, finance and accounts, analytics and fraud management, and HR services. The claims management segment is expected to account for the largest share of the healthcare BPO market in 2016. Factors such as enactment of PPACA and pressure to make healthcare more affordable are driving the growth of this segment.

The pharmaceutical segment of the healthcare BPO market is segmented into R&D, manufacturing, and non-clinical services. The manufacturing segment is estimated to account for the largest share in 2016. The non-clinical services segment is further classified into SCM and logistics, sales and marketing, and other non-clinical services. The sales and marketing subsegment is estimated to account for the largest share in 2016.

Major players in the healthcare BPO market include Accenture PLC (U.S.), Cognizant Technology Solutions Corporation (U.S.), Infosys BPO Ltd. (India), Tata Consultancy Services Ltd. (India), and Xerox Corporation (U.S.).

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