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Healthcare BPO Market Size, Share, Competitive Landscape and Trend Analysis Report by Services Type, by End User : Global Opportunity Analysis and Industry Forecast, 2024-2032

Healthcare BPO Market Size, Share, Competitive Landscape and Trend Analysis...

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Healthcare BPO Market Size, Share, Competitive Landscape and Trend Analysis Report by Services Type, by End User : Global Opportunity Analysis and Industry Forecast, 2024-2032
Healthcare BPO Market Size, Share,...
Report Code
RO1/128/1191

Publish Date
24/Jun/2024

Pages
200
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The global healthcare BPO market revenue was around US$ 132.1 billion in 2023 and is estimated to reach US$ 280 billion by 2032, growing at a compound annual growth rate (CAGR) of 8.7% during the forecast period from 2024 to 2032.
The term healthcare BPO service describes an outsourced business activity or procedure that offers administrative or other support to medical staff, organizations, and institutions. Activities like transcription, billing services, and coding are frequently outsourced. To provide high-quality healthcare facilities, healthcare organizations contract with different vendors for services like manufacturing and research. The healthcare outsourcing sector has brought about a significant transformation in business outsourcing procedures by lowering expenses, creating global delivery models, and offering secure data access. As a result, in recent years, the use of healthcare outsourcing techniques has grown.
Factors Influencing Market Growth
- The increase in demand for patient-centric treatments and improvements in healthcare infrastructure are increasing the demand for healthcare BPO, thus expanding the market.
- Due to the aging population, rising rates of chronic illness, and a rise in demand for these services as a result of better patient care and lower costs, demand for healthcare BPO is increasing, thus fueling market growth.
- An increase in healthcare funding and advancements in healthcare BPO services are increasing demand for healthcare BPO, thus propelling market growth.
- high cost of maintaining and installing the system, losing control over the outsourced process, doubts and threats about data security and service quality, and rapid changes in economic strategies may hamper market growth.
Impact of COVID-19
COVID-19 negatively impacted the market. The development of the healthcare industry was hampered in the early stages of the pandemic. Research and development were put on hold as a result of the necessary lockdowns and shutdowns. Hospitals are still undoubtedly experiencing the COVID-19 pandemic's effects, and they most likely will for some time to come. A July 2022 report by Quorum Health Resources, LLC on the post-pandemic impact on hospital revenue cycle management states that the system and its users, for example, entered a chronic, cumulative condition of overload as a result of the hardships of the last two years, which does not entirely subside in the brief intervals between COVID-19 waves. Therefore, a significant impact on the market will come from the requirement for revenue cycle management, one of Healthcare BPO's provider services, which was adversely affected by the cumulative overload of previous years and is expected to continue doing so in the upcoming years.
Regional Insights
North America dominated the market in 2023. this is due to an increase in hospital visits, a rise in healthcare infrastructure, and an increase in the use of healthcare BPO by healthcare payers and providers. Furthermore, rising healthcare spending in developing nations is predicted to present profitable prospects for the growth of the BPO sector. Furthermore, in order to increase their influence in North America, major players have embraced tactics like cooperation and consensus, which is driving the market growth.
Leading Competitors
- Tata Consultancy Services Ltd.
- Infosys BPM Limited
- IQVIA
- Cognizant
- GeBBS Healthcare Solutions
- Genpact Ltd.
- Invensis Technologies Pvt Ltd
- Wipro
- Accenture
- R1 RCM Inc.
- Wipro Corporation
- Other Prominent Players
Segmentation Analysis
The global healthcare BPO market segmentation focuses on service type, end user, and region.
Segmentation based on Service Type
- Provider Outsourcing Services
- Medical Document Management Services
- Pharmacy Information Management Services
- Laboratory Information Management Services
- Revenue Cycle Management Services
- Others
- Payer Outsourcing Services
- Claims Management
- Customer Relationship Management Services
- Billing and Accounts Management Services
- Fraud Detection Services
- Others
- Operational Outsourcing Services
- Supply Chain Management Services
- Business Process Management Services
- Others
- IT Infrastructure Management Services

Segmentation based on End User
- Healthcare Providers
- Healthcare Payers
- Others

Segmentation based on Region

- North America
- The U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Netherlands
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Singapore
- Rest Of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa

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