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

MARKET OVERVIEW

Healthcare payer services are services that are outsourced by healthcare insurance payers and providers. Healthcare insurance providers/payers are adopting various outsourcing solutions to streamline their business processes and deliver better services to their customers. Outsourcing has surfaced as a successful business model that mitigates the burden of administration, procurement, accounting, logistics and other tasks, and develops cost-effective business processes.

MARKET SCOPE

The "Global Healthcare payer services Market Analysis to 2031" is a specialized and in-depth study of the food and beverages industry with a special focus on the global market trend analysis. The report aims to provide an overview of the Healthcare payer services market with detailed market segmentation by component, product, delivery mode, end user and geography. The report provides key statistics on the market status of the leading Healthcare payer services market players and offers key trends and opportunities in the market.

MARKET SEGMENTATION

•   Based on application, the global Healthcare payer services market is segmented into integrated front-end services and back-office operations, provider management services, analytics and fraud management services, billing and accounts management services, hr services, claims management services.
  
•   Based on service type, the market is categorised into knowledge process outsourcing services, business process outsourcing services, information technology outsourcing services.
  
•   Based on end user, the market is categorised into public payers, private payers.
  

MARKET DYNAMICS
Drivers

•   The rising insurance enrolments and federal healthcare mandates in the U.S..
  
•   Rise in cost of healthcare system and urge to decrease wasteful spending.
  
•   Significant losses incurred due to increase in healthcare frauds augments the demand for healthcare payer solutions.
  
•   Increase in use of healthcare IT solutions and implementation of various healthcare reforms.
  

Restraints

•   Rising incidences of data breach & loss of confidentiality, unforeseen costs associated with 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 services 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 services market in these regions.

IMPACT OF COVID-19 ON HEALTHCARE PAYER SERVICES MARKET
COVID 19 is forcing payers to improve on their existing technologies, develop new technological solutions, and reinforce their telehealth solutions. Many payers are focusing their energies on implementing tools that diagnose coronavirus, deliver behavioral and mental healthcare services, and address non-coronavirus patients' needs remotely. As consumer needs change in light of the pandemic, some market players are reorienting their current technologies to fit those needs. For instance, UnitedHealth Group has expanded its channels to include a broader range of virtual care platforms. UnitedHealth Group did this by allowing all of its eligible in-network medical providers to connect with patients through alternative videoconferencing platforms.

Healthcare Payer Services Market Report Analysis

Healthcare Payer Services 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 Technology Solutions
• Accenture plc.
• Concentrix Corporation
• ExlService Holdings, Inc.
• Xerox Corporation
• Genpact Limited
• Hewlett-Packard
• Hexaware Technologies Limited
• FirstSource Solutions Limited

Regional Overview

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

Market Segmentation

By Application

• Integrated Front-End Services and Back-Office Operations
• Provider Management Services
• Analytics and Fraud Management Services
• Billing and Accounts Management Services
• HR Services
• Claims Management Services

By Service Type

• Knowledge Process Outsourcing Services
• Business Process Outsourcing Services
• Information Technology Outsourcing Services

By End User

• Public Payers
• Private Payers

MARKET PLAYERS

The report covers key developments in the Healthcare payer services 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 market were 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 services market are anticipated to lucrative growth opportunities in the future with the rising demand for Healthcare payer services 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 services 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 Technology Solutions
  
•   Accenture plc.
  
•   Concentrix Corporation
  
•   ExlService Holdings, Inc.
  
•   Xerox Corporation
  
•   Genpact Limited
  
•   Hewlett-Packard
  
•   Hexaware Technologies Limited
  
•   FirstSource Solutions Limited
  
•   HCL Technologies Ltd.
  

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 Services Market Report Scope