healthcare business process outsourcing market is anticipated to grow with the CAGR of 10.3% during the period 2017-2022
New York, NY -- (SBWIRE) -- 08/16/2017 -- Healthcare Business Process Outsourcing Industry
Wiseguyreports.Com Adds "Healthcare Business Process Outsourcing -Market Demand, Growth, Opportunities and Analysis of Top Key Player Forecast To 2022" To Its Research Database
The global healthcare business process outsourcing market is anticipated to grow with the CAGR of 10.3% during the period 2017-2022. Implementation of patient protection and affordable care act (PPACA) and patent expiration of the blockbuster drugs are the major factors that are augmenting the demand of the market. Furthermore, complex clinical trial protocols, increasing pressure to minimize the healthcare cost and availability of the skilled workforce for low cost in emerging countries such as India are also estimated to be one of the major factors that are driving the growth of the market. However, data security and confidentiality concern and fear of losing vision and control over business process are the major restraints that are hindering the growth of the market. Besides these constraints, improving healthcare infrastructure in emerging economies coupled with the implementation of the ICD-10 Codes are estimated to develop numerous growth opportunities for the market during the forecast period.
The global healthcare business process outsourcing market is analyzed on the basis of the payer services, pharmaceuticals services and provider services. On the basis of the payer services our market is segmented into analytics and fraud management services, billing and accounts management services, claims management services, HR services, integrated front-end services and back office operations, member management services, and provider management services. Claims management services are estimated to account for major share in the global healthcare business process outsourcing market owing to implementation of PPACA and rising pressure to minimize the healthcare cost. Furthermore, on the basis of the pharmaceuticals services, our market is divided into manufacturing services, non-clinical services and R&D services. Manufacturing services are estimated to account for major share in the market. And on the basis of the provider services, market is bifurcated into finance and accounts, medical billing, medical coding, and medical transcriptions. Medical billing segment is estimated to be the leading segment in the market owing to increasing medical insurance coverage across globe.
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On the basis of the geography, healthcare business process outsourcing market is segmented into North America, Asia Pacific, Europe and Rest of the World. North America is estimated to account for major share in the market owing to growing healthcare expenditure in the region. Further, increasing pressure to reduce the healthcare cost and implementation of PPACA and ICD-10 Codes are also backing the growth of the market in the region. Asia Pacific is estimated to be the fastest growing region in the market owing to improving healthcare infrastructure in the market. Presence of the key players (such as TCS, Infosys, and Wipro) and availability of skilled professionals for low cost in the region are also one of the major factors that are driving the growth of the market in the region.
Key vendors of the Healthcare business process outsourcing market are Accenture Plc., Accretive Health Inc., Allscripts Healthcare Solutions, Capgemini, Cognizant Technology Solutions Corporation, Dynamic Healthcare Systems, Eli Global, Gebbs, Genpact Limited, IBM Corporation, Infosys BPO Ltd., Lonza Group Ltd., Parexel, Quintiles Transnational Holdings Inc., Sutherland, Tata Consultancy Services, Truven Health, United Health Group, Wipro, Xerox Corporation and so on. These players adopt marketing strategies such as merger, acquisition, product launch and geographical expansion to sustain in the market. For example: in 2015, IBM announced the acquisition of Merge healthcare Inc., a healthcare imaging software company in a $1 billion deal to strengthen its position in the market.
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1. GLOBAL HEALTHCARE BUSINESS PROCESS OUTSOURCING MARKET BY PAYER SERVICES
1.1. ANALYTICS AND FRAUD MANAGEMENT SERVICES
1.2. BILLING AND ACCOUNTS MANAGEMENT SERVICES
1.3. CLAIMS MANAGEMENT SERVICES
1.4. HR SERVICES
1.5. INTEGRATED FRONT-END SERVICES AND BACK OFFICE OPERATIONS
1.6. MEMBER MANAGEMENT SERVICES
1.7. PROVIDER MANAGEMENT SERVICES
2. GLOBAL HEALTHCARE BUSINESS PROCESS OUTSOURCING MARKET BY PHARMACEUTICALS SERVICES
2.1. MANUFACTURING SERVICES
2.2. NON-CLINICAL SERVICES
2.3. RESEARCH AND DEVELOPMENT
3. GLOBAL HEALTHCARE BUSINESS PROCESS OUTSOURCING MARKET BY PROVIDER SERVICES
3.1. FINANCE AND ACCOUNTS
3.2. MEDICAL BILLING
3.3. MEDICAL CODING
3.4. MEDICAL TRANSCRIPTIONS
- Comprehensive research methodology of Global Healthcare Business Process Outsourcing Market.
- This report also includes detailed and extensive market overview with Analyst insights & key market trends.
- Exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
- Analysis of regional regulations and other government policies impacting the Global Healthcare Business Process Outsourcing Market.
- Insights about market determinants which are stimulating the Global Healthcare Business Process Outsourcing Market.
- Detailed and extensive market segments with regional distribution of forecasted revenues.
- Extensive profiles and recent developments of market players.
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