Healthcare Payer BPO Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

MARKET OVERVIEW

Healthcare BPO services optimize capital delivery, improve financial performance, and boost healthcare provider efficiency. Faced with the costs, healthcare BPO outsourcing is on the rise, with an increasing number of healthcare facilities and hospitals turning to specialist healthcare BPOs for non-core operations. Payer organisations have to invest money in technology, facilities, and acquiring professional talent pool to manage high volume claim reports and patient records, resulting in very high operating costs, which is expected to fuel demand for healthcare BPO services in the forecast period.

MARKET SCOPE

The "Global Healthcare Payer BPO Market Analysis to 2031" is a specialized and in-depth study of the healthcare IT industry with a special focus on the global market trend analysis. The report aims to provide an overview of the healthcare payer BPO market with detailed market segmentation by services, application, and geography. The report provides key statistics on the market status of the leading healthcare payer BPO market players and offers key trends and opportunities in the market.

MARKET SEGMENTATION

•   Based on services, the global healthcare payer BPO market is segmented into HR services, finance and accounts, claims processing services, and member services
  
•   Based on application, the market is bifurcated into financial, insurance, human resource, marketing and sales, and others
  

MARKET DYNAMICS
Drivers

•   Pressure of reducing the ever growing healthcare costs
  
•   Rising consolidation in the healthcare industry
  

Restraints

•   Hidden costs of outsourcing
  

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The healthcare payer BPO market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.

The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the healthcare payer BPO market in these regions.

IMPACT OF COVID-19 ON HEALTHCARE PAYER BPO MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.

Healthcare Payer BPO Market Report Analysis

Healthcare Payer BPO Market

• 
  CAGR (2023 - 2031)

  XX%
• Market Size 2023
  US$ XX Million
• Market Size 2031
  US$ XX Million

Report Coverage

• Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope

• Key future trends
• Detailed PEST/Porter’s Five Forces and SWOT analysis

• Industry landscape and competition analysis & recent developments
• Detailed company profiles

• Global and regional market analysis covering key market trends, major players, regulations, and recent market developments

Key Players

• COGNIZANT
• Accenture
• Xerox Corporation
• HGS Ltd
• HCL Technologies Limited
• Genpact
• Hewlett Packard Enterprise Development LP
• EXL
• Wipro Limited

Regional Overview

• North America
• Europe
• Asia-Pacific
• South and Central America
• Middle East and Africa

Market Segmentation

By Service

• HR Services
• Finance and Accounts
• Claims Processing Services
• Member Services

By Application

• Financial
• Insurance
• Human Resource
• Marketing and Sales

MARKET PLAYERS

The report covers key developments in the healthcare payer BPO market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from healthcare payer BPO market are anticipated to lucrative growth opportunities in the future with the rising demand for healthcare payer BPO in the global market.

The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the healthcare payer BPO market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.

•   COGNIZANT
  
•   Accenture
  
•   Xerox Corporation
  
•   HGS Ltd
  
•   HCL Technologies Limited
  
•   Genpact
  
•   Hewlett Packard Enterprise Development LP
  
•   EXL
  
•   Wipro Limited
  
•   Capgemini
  

The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

Healthcare Payer BPO Market Report Scope