Market Overview:
The global healthcare payer BPO market is expected to grow at a CAGR of 10.8% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for cost-effective and efficient services by payers across the globe. In addition, the growing need for reducing administrative costs and improving operational efficiency are also contributing to the growth of this market. The global healthcare payer BPO market is segmented on the basis of type, application, and region. On the basis of type, it is divided into claims processing services, member services, HR services finance and accounts). Claims processing service dominates this market owing to its ability to improve claim turnaround time while reducing administrative costs associated with it. By application, large hospitals account for majority share in terms of revenue in this market followed by middle hospitals pharmacy insurance companies). Regionally North America dominates this market followed by Europe Asia Pacific Latin America) MEA).
Product Definition:
A healthcare payer BPO is a business process outsourcing (BPO) company that provides services to healthcare payers, such as insurance companies and government health programs. These services may include customer service, claims processing, billing, and enrollment. The importance of a healthcare payer BPO lies in its ability to help these organizations manage their costs while improving the quality of their services.
Claims Processing Services:
Healthcare payer BPO market is expected to grow at a CAGR of XX% during the forecast period. The growth can be attributed to increasing demand for claim processing services from healthcare payers and providers.
The introduction of new regulations coupled with the growing volume of claims is anticipated to drive the need for automation in this industry over the next eight years.
Member Services:
The healthcare payer BPO market is expected to grow at a lucrative rate during the forecast period. The growth of this market can be attributed to factors such as increasing demand for value-based care, regulatory changes, and rising cost of medical services.
Application Insights:
The large hospitals segment dominated the overall healthcare payer BPO market in 2017. This can be attributed to factors such as high volume of transactions, complexity of procedures and increasing number of hospitals across the globe. Large hospitals generally have a higher number of claims and need to process them quickly so that they can be paid efficiently. Thus, these payers outsource their claim processing activities to third-party service providers who have expertise in handling large volumes with ease.
In addition, middle hospital segments are expected to grow at a significant rate over the forecast period owing to increasing penetration and adoption of EHRs which has led middle hospitals/urgent care centers etc.,to digitize their operations thereby incurring greater demand for services from various external vendors such as medical billers, coders etc.,than that required by large or specialty Hospitals (or clinics).
Regional Analysis:
North America dominated the global healthcare payer BPO market in 2017. The presence of a large number of insurance companies and favorable government policies are some factors driving the growth. In addition, increasing demand for administrative cost-effective services is expected to drive regional market growth over the forecast period.
Asia Pacific is anticipated to witness lucrative CAGR during the forecast period owing to various factors such as improving economic conditions, rising health expenditure and growing penetration of insurance coverage in emerging countries such as China and India are expected to drive regional demand over next eight years.
Growth Factors:
- Increased focus on cost containment and efficiency initiatives by payers
- Rising demand for value-based care models
- The increasing prevalence of chronic diseases
- Rapid technological advancements in the healthcare industry
- Growing pressure on payers to improve customer experience
Scope Of The Report
Report Attributes
Report Details
Report Title
Healthcare Payer BPO Market Research Report
By Type
Claims Processing Services, Member Services, HR Services, Finance And Accounts
By Application
Large hospitals, Middle hospitals, Pharmacy, Insurance companies
By Companies
Cognizant, Xerox, Accenture, Hinduja Global Solutions, Exlservice, HPE, HCL Technologies, Genpact
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
173
Number of Tables & Figures
122
Customization Available
Yes, the report can be customized as per your need.
Global Healthcare Payer BPO Market Report Segments:
The global Healthcare Payer BPO market is segmented on the basis of:
Types
Claims Processing Services, Member Services, HR Services, Finance And Accounts
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Large hospitals, Middle hospitals, Pharmacy, Insurance companies
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Cognizant
- Xerox
- Accenture
- Hinduja Global Solutions
- Exlservice
- HPE
- HCL Technologies
- Genpact
Highlights of The Healthcare Payer BPO Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Claims Processing Services
- Member Services
- HR Services
- Finance And Accounts
- By Application:
- Large hospitals
- Middle hospitals
- Pharmacy
- Insurance companies
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Healthcare Payer BPO Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Healthcare Payer BPO is a type of business process outsourcing (BPO) that provides customer service and support for healthcare organizations. Healthcare Payer BPO services include contact center operations, back-end processing, and front-end web design.
Some of the key players operating in the healthcare payer bpo market are Cognizant, Xerox, Accenture, Hinduja Global Solutions, Exlservice, HPE, HCL Technologies, Genpact.
The healthcare payer bpo market is expected to register a CAGR of 10.8%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Healthcare Payer BPO Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Healthcare Payer BPO Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Healthcare Payer BPO Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Healthcare Payer BPO Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Healthcare Payer BPO Market Size & Forecast, 2020-2028
4.5.1 Healthcare Payer BPO Market Size and Y-o-Y Growth
4.5.2 Healthcare Payer BPO Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Claims Processing Services
5.2.2 Member Services
5.2.3 HR Services
5.2.4 Finance And Accounts
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Large hospitals
6.2.2 Middle hospitals
6.2.3 Pharmacy
6.2.4 Insurance companies
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Healthcare Payer BPO Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Healthcare Payer BPO Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Claims Processing Services
9.6.2 Member Services
9.6.3 HR Services
9.6.4 Finance And Accounts
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Large hospitals
9.10.2 Middle hospitals
9.10.3 Pharmacy
9.10.4 Insurance companies
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Claims Processing Services
10.6.2 Member Services
10.6.3 HR Services
10.6.4 Finance And Accounts
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Large hospitals
10.10.2 Middle hospitals
10.10.3 Pharmacy
10.10.4 Insurance companies
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Claims Processing Services
11.6.2 Member Services
11.6.3 HR Services
11.6.4 Finance And Accounts
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Large hospitals
11.10.2 Middle hospitals
11.10.3 Pharmacy
11.10.4 Insurance companies
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Claims Processing Services
12.6.2 Member Services
12.6.3 HR Services
12.6.4 Finance And Accounts
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Large hospitals
12.10.2 Middle hospitals
12.10.3 Pharmacy
12.10.4 Insurance companies
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Claims Processing Services
13.6.2 Member Services
13.6.3 HR Services
13.6.4 Finance And Accounts
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Large hospitals
13.10.2 Middle hospitals
13.10.3 Pharmacy
13.10.4 Insurance companies
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Healthcare Payer BPO Market: Competitive Dashboard
14.2 Global Healthcare Payer BPO Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Cognizant
14.3.2 Xerox
14.3.3 Accenture
14.3.4 Hinduja Global Solutions
14.3.5 Exlservice
14.3.6 HPE
14.3.7 HCL Technologies
14.3.8 Genpact
