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Healthcare BPO Market 2019: Comprehensive Analysis by Top Key Companies, Industry Growth, Size, Share, Market Insights, Sales Volume and Forecast to 2024

Healthcare

The “Healthcare BPO Market” research report 2019 delivers comprehensive information about the market ranging from the establishment to the predictable growth trend. Healthcare BPO market report provides brief analytical data of the market contenders globally using advanced methodological approaches, such as SWOT analysis, production chain, cost, sales margin, financial details, recent developments. Healthcare BPO market report also offers market competitors that includes detailed company profiles along with company product specifications.

Market Overview:

  • The healthcare BPO market is expected to register a CAGR of 8%, over the forecast period. Factors that are responsible for the growth of the market include rapid increase in clinical process outsourcing (CPO), implementation of PPACA compelled healthcare player to move toward outsourcing, and fewer errors in several non-critical functions, like finance and accounting, customer care services, etc.
  • Another major driving factor is the rise of near shore outsourcing destinations and access to technology. As near shoring gives companies the advantage of similarity in culture, time zone, and languages, and helps them deliver better-quality services, the companies have started outsourcing their business processes to BPO service providers in the same region. Companies have also started focusing on protecting their outsourced businesses and minimizing the socio-economic risks, through similar currency and regulation systems, which may boost the growth of near shore outsourcing destinations and access to technology. Near shore providers highlight their advantages as having the best of both the worlds, as organizations can work with teams on similar time zones. Cloud-based BPO has revolutionized the business outsourcing processes and helps healthcare organizations reduce the costs, develop the global delivery models, and provide secure data access. Owing to their benefits, an increased number of adoption of cloud-based BPO services is anticipated in the future. Hence, the aforementioned factors have contributed to the growth of the global healthcare BPO market.

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    In Healthcare BPO Market Report, Following Companies Are Covered:

  • Accenture
  • Eli Global
  • Gebbs
  • Genpact
  • IBM
  • Parexel
  • IQVIA
  • Sutherland
  • Truven Health
  • United Health Group

    Healthcare BPO Market 2019 report will help the industry aspirants in arranging their strategies. The measurements offered in this report will be an exact and helpful manual to shape the business development. Additionally, will Provide historical data along with a future forecast and detailed analysis and also expected opportunities.

    Scope of the Report:

  • Business process outsourcing (BPO) is a process that enables healthcare providers to select the most suited third-party vendors for specific business processes. This allows hospitals and medical professionals to spend their valuable time on patient care, over other mundane jobs in the office.

    Reasons for Buying Healthcare BPO Market Report:

    • This report provides pin-point analysis for changing competitive dynamics
    • It provides a forward looking perspective on different factors driving or restraining market growth
    • It provides a five-year forecast assessed on the basis of how the market is predicted to grow
    • It helps in understanding the key product segments and their future
    • It provides pin point analysis of changing competition dynamics and keeps you ahead of competitors
    • It helps in making informed business decisions by having complete insights of market and by making in-depth analysis of market segments

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    Key Market Trends:

    Revenue Cycle Management is Expected to Grow Faster in the Product Services Segment

    The growth of the revenue cycle management (RCM) market is attributed to an increase in government initiatives, to boost the adoption of RCM solutions, increasing revenue loss due to billing errors, and increasing adoption of EHR/EMR. Most hospitals are presently dependent on third-party providers for denial management service, as they lack the expert knowledge and time to manage the reimbursement process. Most common billing errors include failure to verify insurance, filing an incomplete claim, coding errors, lack of specificity, and missing filing deadlines. Most of the care providers are presently addressing the challenge, by working with third-party medical billing professionals who are expert in the overall revenue cycle management. Hence, it can be concluded that the revenue loss to hospitals, due to billing errors, can be prevented by specialty revenue cycle management service providers. Thereby, this factor is expected to drive the market studied over the forecast period.

    North America Dominates the Market and is Expected to do Same during the Forecast Period

    Currently, North America dominates the market for healthcare BPO and is expected to continue its stronghold for a few more years. In the North America region, the United States holds the largest market share. This can be majorly attributed to the presence of strong reimbursement framework, high public and private healthcare expenditure, and a high percentage of claim records. There are some of the factors driving the growth of the market, in the region.

    The Research Document Will Answer Following Questions Such as:

    • What are the cutting-edge technologies responsible for driving the growth of the market?
    • What are the main applications of the market? What are the growth prospects to the market applications into the market?
    • At what stage of development are the key market products?
    • What are the shortcomings that has to face to become commercially viable? Is their growth and commercialization dependent on cost declines or technological/application breakthroughs?
    • What is the outlook for the industry?
    • What difference does performance characteristics of Healthcare BPO create from those of established entities?

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    Detailed TOC of Healthcare BPO Market Report 2019-2024:

    1 INTRODUCTION
    1.1 Study Deliverables
    1.2 Study Assumptions
    1.3 Scope of the Study

    2 RESEARCH METHODOLOGY

    3 EXECUTIVE SUMMARY

    4 MARKET DYNAMICS
    4.1 Market Overview
    4.2 Market Drivers
    4.2.1 Rise of Nearshore Outsourcing Destinations and Access to Technology
    4.2.2 Rapid Increase in Clinical Process Outsourcing (CPO)
    4.2.3 Implementation of PPACA Compelled Healthcare Player to Move toward Outsourcing
    4.2.4 Fewer Errors in Several Non-critical Functions, like Finance and Accounting, Customer Care Services, etc.
    4.3 Market Restraints
    4.3.1 Complex Regulations
    4.3.2 Hidden Costs of Outsourcing
    4.4 Porter’s Five Forces Analysis
    4.4.1 Threat of New Entrants
    4.4.2 Bargaining Power of Buyers/Consumers
    4.4.3 Bargaining Power of Suppliers
    4.4.4 Threat of Substitute Products
    4.4.5 Intensity of Competitive Rivalry

    5 MARKET SEGMENTATION
    5.1 By Payer Service
    5.1.1 Human Resource Management
    5.1.2 Claims Management
    5.1.3 Customer Relationship Management (CRM)
    5.1.4 Operational/Administrative Management
    5.1.5 Care Management
    5.1.6 Provider Management
    5.1.7 Other Payer Services
    5.2 By Provider Service
    5.2.1 Patient Enrollment and Strategic Planning
    5.2.2 Patient Care Service
    5.2.3 Revenue Cycle Management
    5.3 By Pharmaceutical Service
    5.3.1 Research and Development
    5.3.2 Manufacturing
    5.3.3 Non-clinical Service
    5.3.3.1 Supply Chain Management and Logistics
    5.3.3.2 Sales and Marketing Services
    5.3.3.3 Other Non-clinical Services
    5.4 Geography
    5.4.1 North America
    5.4.1.1 United States
    5.4.1.2 Canada
    5.4.1.3 Mexico
    5.4.2 Europe
    5.4.2.1 Germany
    5.4.2.2 United Kingdom
    5.4.2.3 France
    5.4.2.4 Italy
    5.4.2.5 Spain
    5.4.2.6 Rest of Europe
    5.4.3 Asia-Pacific
    5.4.3.1 China
    5.4.3.2 Japan
    5.4.3.3 India
    5.4.3.4 Australia
    5.4.3.5 South Korea
    5.4.3.6 Rest of Asia-Pacific
    5.4.4 Middle East & Africa
    5.4.4.1 GCC
    5.4.4.2 South Africa
    5.4.4.3 Rest of Middle East & Africa
    5.4.5 South America
    5.4.5.1 Brazil
    5.4.5.2 Argentina
    5.4.5.3 Rest of South America

    6 COMPETITIVE LANDSCAPE
    6.1 Company Profiles
    6.1.1 Accenture
    6.1.2 Eli Global
    6.1.3 Gebbs
    6.1.4 Genpact
    6.1.5 IBM
    6.1.6 Parexel
    6.1.7 IQVIA
    6.1.8 Sutherland
    6.1.9 Truven Health
    6.1.10 United Health Group

    7 MARKET OPPORTUNITIES AND FUTURE TRENDS

     

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