The global healthcare BPO market size reached US$ 28.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 45.9 Billion by 2028, exhibiting a growth rate (CAGR) of 8.5% during 2023-2028.
Healthcare business process outsourcing (BPO) refers to a strategy adopted by healthcare organizations for selecting and delegating with the third-party vendors to execute specific business-related operations. It aids in processing claims, analyzing patient data and enrollment, performing strategic planning, and managing accounts, business acquisition and billings. This, in turn, assists healthcare firms in reducing errors and unauthorized data access, improving workflow, and providing quality services to the patients at reduced operational costs. At present, healthcare BPO is categorized based on its varying service types, such as front-end and backend.
Healthcare BPO Market Trends:
The significant expansion in the healthcare sector, along with the increasing prevalence of various cardiovascular diseases, mostly amongst the rising geriatric population, represents one of the prime factors driving the healthcare BPO market toward growth. This, in turn, is facilitating the growth in the number of hospital admissions across the globe. Additionally, the rising awareness amongst the consumers regarding the availability of varying health insurance plans and telehealth services is further supporting the market growth. In line with this, rapid technological advancements and the integration of cloud-based BPO solutions in hospitals and clinics for implementing global service delivery models at cost-effective rates are acting as other growth-inducing factors. Moreover, numerous favorable initiatives undertaken by the government bodies of several nations for adopting BPO strategy for verifying insurance plans, filling, claiming, examining codding errors and ensuring data security due to the escalating instances of data breaches is contributing to the market growth. Other factors, such as extensive utilization of electronic health records (EHR) and electronic medical record (EMR) for recording patient health information, along with significant collaborations amongst key players, are creating a positive outlook for the market.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global healthcare BPO market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on payer service, provider service and pharmaceutical service.
Breakup by Payer Service:
Human Resource Management
Customer Relationship Management
Operational and Administrative Management
Breakup by Provider Service:
Patient Enrollment and Strategic Planning
Patient Care Service
Revenue Cycle Management
Breakup by Pharmaceutical Service:
Research and Development Services
Breakup by Region:
Middle East and Africa
The competitive landscape of the industry has also been examined along with the profiles of the key players being Accenture plc, Cognizant, GeBBS Healthcare Solutions, Genpact, International Business Machines Corporation, IQVIA, NTT Data Corporation, Omega Healthcare, Parexel International Corporation, Tata Consultancy Services, WNS (Holdings) Limited and Xerox Corporation.
Key Questions Answered in This Report:
What was the size of the global healthcare BPO market in 2022?
What is the expected growth rate of the global healthcare BPO market during 2023-2028?
What has been the impact of COVID-19 on the global healthcare BPO market?
What are the key factors driving the global healthcare BPO market?
What is the breakup of the global healthcare BPO market based on the payer service?
What is the breakup of the global healthcare BPO market based on the provider service?
What are the key regions in the global healthcare BPO market?
Who are the key players/companies in the global healthcare BPO market?