Focus on Reduction of Healthcare Delivery Costs, Enactment of PPACA, and Mandatory Implementation of ICD-10 Codes to Boost the Growth of the Healthcare BPO Market
The healthcare BPO market is projected to reach USD 276.79 billion by 2021 USD 170.47 billion in 2016, growing at a CAGR of 10.2% during the forecast period (2016–2021). In this report, the healthcare BPO market is broadly segmented on the type of healthcare services outsourced into provider services, payer services, and pharmaceutical services.
The U.S. is expected to account for the largest share of the healthcare BPO market in 2016. It is the prime source for the outsourcing of healthcare services due to the mandatory implementation of ICD-10 codes and enactment of PPACA. Europe is the second-largest source for outsourcing healthcare services; this regional market is driven by the need to minimize healthcare delivery costs. Among the destination regions, India and China are the most preferred locations to outsource various business processes. These countries are preferred due to their lower costs of operating businesses and cheaper skilled labor. The U.S. also ranks high as a preferred location in cases where location and skill are more important than cost savings.
From an insight perspective, this research report focuses on the qualitative data, future market size, share, and market potential of various segments and subsegments; competitive landscape; and company profiles. The qualitative data covers various levels of industry analysis such as market dynamics (drivers, restraints, opportunities, and challenges) and trends. The report also includes qualitative information on different outsourcing approaches and models commonly used in the healthcare industry. The type of contract that a client uses to engage with a vendor is called an outsourcing approach. The outsourcing approaches include bundled services, fee for service, flexible contracts and best shoring. The overarching strategies commonly adopted by an organization while outsourcing have been listed under outsourcing models. The outsourcing models include multisourcing, captive center, hybrid delivery, preferred provider, strategic partnership and global delivery models. The global delivery models is a type of service delivery model adopted by a vendor
Major players in the healthcare BPO market include Accenture PLC (U.S.), Cognizant Technology Solutions Corporation (U.S.), Infosys BPO Ltd. (India), Tata Consultancy Services Ltd.(India), and Xerox Corporation (U.S.).
Reasons to buy this report:
This research report has focused on various levels of analysis—industry analysis (industry trends), market share analysis of top players, and company profiles, which together comprise and discuss the basic views on the competitive landscape; emerging and high-growth market segments; high-growth regions; and market drivers, restraints, and opportunities.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on healthcare BPO products and services offered by the top players in the global healthcare BPO market
- Product Development/Innovation: Detailed insights on upcoming products, research & development activities, and new product launches in the healthcare BPO market
- Market Development: Comprehensive information about lucrative emerging markets –the report analyzes the markets for healthcare BPO across regions
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the global healthcare BPO market
- Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of the leading players in the global healthcare BPO market