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Healthcare BPO Market Report 2023-2028: Analysis, Industry Trends and Forecast to 2028

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According to the global healthcare BPO market report by IMARC Group, the market reached a value of US$ 28.0 Billion in 2022, and it is projected to reach a value of US$ 45.9 Billion by 2028, exhibiting a growth rate (CAGR) of 8.5% during 2023-2028.

Healthcare business processing outsourcing (BPO) refers to the business activities or procedures adopted by healthcare organizations to delegate to third-party vendors for providing support to medical institutions, staff, and organizations. This helps in analyzing patient data and enrollment, processing claims, performing strategic planning, and managing accounts, business acquisition and billings. In recent years, healthcare BPO has gained traction as it aids healthcare institutions in minimizing errors and unauthorized data access while enhancing quality services to patients at minimal operational costs.

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Healthcare BPO Market Trends and Drivers:

One of the primary factors driving the market is the expanding healthcare sector and the increasing number of individuals diagnosed with numerous cardiovascular diseases. Other than this, healthcare firms have been facing pressure to create a well-coordinated and well-connected environment due to the economic instability caused by the coronavirus disease (COVID-19) pandemic.

Due to this, key players are heavily investing in the deployment of BPO services across hospitals and clinics. Healthcare BPOs help healthcare firms with non-core functionalities, including claims and revenue cycle management. Besides this, healthcare organizations are opting for healthcare BPOs as they help reduce costs on resource management, labor, and space, thus strengthening the market growth. In line with this, there has been rising awareness among the masses regarding numerous healthcare plans and telehealth services that are available in the market.

Furthermore, the technological advancements and the integration of cloud-based BPO solutions in clinics and hospitals to implement global service delivery models at economical rates are positively influencing market growth. Moreover, various favorable initiatives undertaken by the government bodies of numerous nations to adopt BPO strategies for filling, examining coding errors, claiming, verifying insurance plans, and ensuring data security are driving the market growth.

Other growth-inducing factors include the widespread adoption of electronic health records (EHR) and electronic medical records (EMR) for recording patient health information and significant collaborations among key players.

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Global Healthcare BPO Market 2023-2028 Analysis and Segmentation:

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

Accenture plc, Cognizant, GeBBS Healthcare Solutions, Genpact, International Business Machines Corporation, IQVIA, NTT Data Corporation, Omega Healthcare, Parexel International Corporation, Tata Consultancy Services, WNS (Holdings) Limited and Xerox Corporation.

The report has segmented the market on the basis of region, payer service, provider service and pharmaceutical service.

Breakup by Payer Service:

  • Human Resource Management
  • Claims Management
  • Customer Relationship Management
  • Operational and Administrative Management
  • Care Management
  • Provider Management
  • Others
     

Breakup by Provider Service:

  • Patient Enrollment and Strategic Planning
  • Patient Care Service
  • Revenue Cycle Management

Breakup by Pharmaceutical Service:

  • Manufacturing Services
  • Research and Development Services
  • Non-clinical Services

Breakup by Region:

  • North America: (United States, Canada)
  • Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
  • Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
  • Latin America: (Brazil, Mexico, Others)
  • Middle East and Africa

If you want latest primary and secondary data (2023-2028) with Cost Module, Business Strategy, Distribution Channel, etc. Click request free sample report, published report will be delivered to you in PDF format via email within 24 to 48 hours of receiving full payment.

Key highlights of the report:

  • Market Performance (2017-2022)
  • Market Outlook (2023- 2028)
  • Porter’s Five Forces Analysis
  • Market Drivers and Success Factors
  • SWOT Analysis
  • Value Chain
  • Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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