According to a recent study report published by the Market Research Future, the global market for Healthcare BPO is estimated to witness a steady growth by 2023 in terms of value with a substantial CAGR; surpassing its previous growth records by the end of the forecasted period (2017 – 2023).
The Global Healthcare BPO Market is expected to grow at a CAGR of 12.3% during the forecast period 2017-2023.
Healthcare is considered as one of the topnotch and largest industries across the globe. With improved patient’s experience right from the beginning; the chances of patient’s return or his recommendation of the healthcare facility to his circle increases. However providing excellent patient care requires a lot of investment on resources and manpower and employees are expected to acquire expertise in an extended range of skill set that have never been their area of expertise. Healthcare organizations need to strike a balance in the number of non-care responsibilities an employee can handle so that quality patient care can be provided. Yet, outsourcing had never been considered as a vital part in healthcare.
The technological improvements in medical care and the rising demand for health services across the globe are driving a major change in the healthcare industry. With digital technologies transforming processes from electronic records to telemedicine, many healthcare providers are delivering services in innovative ways. Additionally, health services are also evolving as individuals seek greater involvement in healthcare decisions that impact them and call for easier access. Stricter requirements related to patient privacy, safety, treatment and payments, are altering compliance processes. However, in the recent years, outsourcing has played a major role in delivering quality patient care.
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This has resulted in more and more healthcare organizations increasingly relying on outsourcing. New business models and processes now reflect the trends that are shaping the global healthcare value chain. Healthcare BPOs by leveraging their knowledge of the healthcare domain and Business Process Management (BPM) expertise, partner with healthcare organizations to help them capitalize on these disruptive trends and increase their market share. Enabling healthcare companies to balance costs, deliver superior customer experience, and improve process efficiencies to outperform business challenges.
Healthcare BPO Global Market – Key Players
Healthcare BPO Global Market poses as highly competitive and fragmented market. The market is witnessing fierce competition among the major players having geographical presence with a Lion’s share in the market. Well established players incorporate acquisition, collaboration, partnership, expansion, & technology launch in order to gain competitive advantage in this market and to maintain their market position. Service providers operating in the market compete based on pricing, innovation, service, reputation, distribution, and promotion. In view of growth and immense revenue generation opportunities potential that market is currently demonstrating is in turn attracting several new players to enter the Healthcare BPO market.
Deep industry and business process knowledge, a partnership approach, comprehensive service offerings and a proven track records enable Healthcare BPO market players to deliver business value to their clients (companies). Key Players are passionate about building a market leading company valued by clients, employees, business partners, investors and the communities.
Profiled in MRFR analysis some of the key players in this market are HCL Technologies Limited (India), Accenture PLC (U.S.), WNS (India) Cognizant Technology Solutions Corporation (U.S.), Xerox Corporation (U.S.), Infosys BPO Ltd. (India), Tata Consultancy Services Ltd. (India) and others.
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Healthcare BPO Global Market – Segments
The Healthcare BPO market can be segmented in to 3 key dynamics for the convenience of the report and enhanced understanding;
Segmentation by Provider Solutions: Comprises marketing intelligence and analytics, patient access services and other.
Segmentation by Payer Solutions: Comprises policy administration, financial administration, others.
Segmentation by Regions: Comprises Geographical regions – North America, Europe, APAC and Rest of the World.
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