Healthcare BPO Market is projected to reach USD 468.5 billion by 2026, at a CAGR of 9.6%. This growth is attributed to the rising demand for cost-effective healthcare services and the increasing number of outsourcing activities in the healthcare sector.
Healthcare BPO services are used for a range of activities, such as clinical trials, billing and coding, healthcare analytics, claims management, and medical transcription. The increasing demand for specialized healthcare services and the need for efficient operational support are expected to drive the demand for healthcare BPO services in the near future.
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In addition, the growing demand for healthcare services in the developing regions, such as Asia Pacific and the Middle East, is expected to contribute to the growth of the healthcare BPO market. The growth of the telemedicine industry is also expected to boost the demand for healthcare BPO services. Furthermore, the rising adoption of digital health technologies, such as artificial intelligence and machine learning, is further projected to propel the market growth.
The key players operating in the market are focusing on strategic partnerships and collaborations to gain a competitive edge in the market. In addition, the companies are focusing on launching innovative products and services to strengthen their market position. For instance, Cognizant Technology Solutions Corporation launched its cloud-based healthcare BPO services to help healthcare organizations improve their operational efficiency.
The global healthcare BPO market is segmented based on service type, end user, and region. Based on service type, the market is divided into medical billing, claims adjudication, customer service, medical transcription, and others. Based on end user, the market is divided into pharmaceutical companies, hospitals clinics, research organizations, and others. Regionally, the market is analyzed across North America, Europe, Asia Pacific, Latin America, and Middle East Africa.
North America is expected to be the largest market for healthcare BPO services due to the presence of a large number of healthcare providers in the region. In addition, the increasing adoption of digital health technologies in the region is expected to contribute to the market growth. The Asia Pacific region is expected to be the fastest growing market due to the increasing awareness about the benefits of healthcare BPO services in the region.
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Key Market Players
The key players operating in the global healthcare BPO market are Cognizant Technology Solutions Corporation, Accenture plc, HCL Technologies Limited, Infosys Limited, Genpact Limited, WNS Global Services Private Limited, CGI Group Inc., Tata Consultancy Services Limited, Allscripts Healthcare Solutions, Inc., and EXL Service Holdings, Inc. The companies are focusing on launching innovative products and services to strengthen their market position. HCL Technologies Limited launched its healthcare BPO services to help healthcare organizations improve their operational efficiency.
Healthcare BPO Market Report Segmentation
By Provider Service
- Revenue Cycle Management
- Patient Enrollment
- Patient Care
By Payer Service
- Claims Management
- Product Development Business Acquisition (PDBA)
- Member Management
- Provider Management
- Care Management
- Integrated Front-End Services and Back-office Operations
- Billing and accounts management services
- HR Services
By Life Science Service
- Manufacturing
- RD
- Non-Clinical Services
By Region
- Source Geography
- Destination Geography
Recent Developments
- NTT DATA signed a multi-year agreement with ScoreData to deploy the latter’s nudge engines along with NTT DATA’s Artificial Intelligence (AI) solutions that predict risk for early onset of chronic diseases for health insurance and provider communities
- Xerox Corporation acquired Groupe CT, an independent document management provider in Eastern Canada, to accelerate a digital transformation roadmap by combining its document management services expertise and leadership with Xerox’s portfolio of workplace solutions to expand its reach in the North American market
- Firstsource Solutions selected IntelliH as its technology partner to deliver turn-key remote patient monitoring solutions to health plans and provider organizations in the US
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