Global Industrial Statistics Of Healthcare BPO Market

Healthcare BPO Market
Changing aspects of global healthcare BPO market
Healthcare BPO market is majorly driven by economical workforce, shortage of in-house trained professionals, and lack of industrial awareness. Other important factors leading to the growth of the global healthcare BPO market are
• Patent expiration in pharmaceutical industries
• Increase in awareness about patient insurance
• Newer and better healthcare systems
• Implementation of ICD-10 codes
Although above points are booming the business, factors such as data security challenges due to breach in data storage systems, huge amount of healthcare data, and decreased quality of services are hampering the BPO market growth.
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Market summary:
New business ideas, increased development of healthcare sectors and improved digital technologies in healthcare are driving the business of global healthcare BPO market. Increased health issues, rise in older population who have respiratory, cardiovascular, eye care problems, cancers, etc. are leading factors to increased workload to insurance companies in order to handle information about patients and their data.
The market of healthcare BPO is growing at a substantial rate due to heavy workload in the IT healthcare sectors, upgradation from ICD-9 to ICD 10 coding system which requires trained staff, more outsourcing for money, need for HR, medical coders, skilled professionals and accounting, etc. which is going to boost the market growth of healthcare BPO.

Regional analysis
North America holds the strongest position in the healthcare BPO market followed by Europe owing to the factors such as ongoing trends in IT healthcare, changing regulatory scenario, etc.
Asia-Pacific is slowly developing and showing a remarkable progress in the healthcare BPO market. This is due to various factors such as increased key noted market players and increased awareness in IT healthcare with rapid development in healthcare organizations.
Notable market development:
WNS (Holdings) Limited, took over Health Help, in 2017 which offers management services such as specialty healthcare areas, which include oncology, cardiology, orthopedics, sleep care, radiology and pain management.
Some of the top players operating in the healthcare BPO market
• IQVIA, HCL Technologies Limited
• Accenture
• Eli Global
• IBM Corporation
• Genpact Limited
• Parexel
• Sutherland
• Hewlett-Packard Inc.
• Truven Health Analytics
• United Health Group
• Cognizant, Lonza Group Ltd
• Accretive Health, Inc.
• Tata Consultancy Services Ltd
• Xerox Corporation
• Infosys Limited
The global healthcare BPO market is segmented on the basis of provider services, payer services, pharmaceutical services, end users, and geographical regions.
By provider services
• Medical Billing
• Medical Coding
• Medical Transcription
• Finance & Accounts
• Others

By payer services
• Integrated Front-end Services and Back-office Operations
• Provider Management
• Claims Management
• Billing and Accounts Management
• HR
• Analytics and Fraud Management
• Member Management
By pharmaceutical service:
• Manufacturing
• Research and Development
• Non-clinical Services
o Sales and Marketing
o Supply Chain Management and Logistics
o Other Non-clinical Functions
 HR
 Finance and Accounts
 IT
By end-users
• Hospital
• Clinics
• Public Service
• Pharmaceutical Companies
• Others
By geographical region
• North America
• Latin America
• Asia Pacific
• The Middle East and Africa
• Europe

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