Growing Demand in the Dietary Supplement Industry Due to the Rising Prevalence of Lifestyle Diseases has Propelled the Growth of the Healthcare BPO Market in the North America Region!
- Himanshu Patni
- November 18, 2023
- HEALTHCARE, NEWS
- Healthcare BPO Market, Healthcare BPO Market Forecast, Healthcare BPO Market Share, Healthcare BPO Market Trends
- 0 Comments
Pharmacies, pharmaceutical companies, manufacturers of medical equipment, and medical care facilities are all part of the rapidly expanding healthcare system in the United States. Specialized professionals oversee these operations, which are dependent on this intricate industry infrastructure. The surge in awareness about outsourcing medical care IT administrations and the solid presence of major market players in the locale are credited to the regional market’s development.
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Further, the North America Healthcare BPO Market is expected to grow at a strong CAGR of 9.5% during the forecast period (2022-2030). North America is anticipated to emerge as the fastest-growing healthcare BPO market primarily owing to the rising government initiatives along with the increasing demand for non-clinical operations in the healthcare industry and the adoption of technology in healthcare that drive the market growth in the region. For example, in February 2022, the branch of HHS granted almost USD 55 million to 29 HRSA-financed wellbeing habitats to increment medical services access and quality for underserved populaces through virtual consideration. Patients have benefited greatly from virtual care, particularly during the pandemic. As a result, it is anticipated that government initiatives will propel market expansion in the nation.
FIG. 1 North America Healthcare BPO Market Revenue (2020-2030)- USD Mn
Based on the payer service, the market is segmented into human resource management, claims management, customer relationship management (CRM), product development business acquisition (PDBA), care management, provider management, and others. Amongst these, the claim management segment dominated the market in 2022. Claims management is a key non-clinical activity in the medical care industry that is driving the development of healthcare business process outsourcing (BPO) market. Claims management involves processing and adjudicating insurance claims for clinical benefits, physician recommended drugs, and other medical care administrations.
By provider service, the market is segmented into revenue cycle management, patient enrollment, patient care service. Among these, patient enrollment is expected to grow with a significant CAGR during the forecast period (2023-2030). The surge in demand for clinical trials and the need to manage patient enrollment efficiently and cost-effectively are driving the growth of healthcare BPO, as healthcare providers look to outsource patient enrollment to specialized companies that can provide the expertise, resources, and cost savings needed to manage this critical non-clinical operation.
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Global Healthcare BPO Market Segmentation
Market Insight, by Payer Service
· Human Resource Management
· Claims Management
· Customer Relationship Management (CRM)
· Product Development Business Acquisition (PDBA)
· Care Management
· Provider Management
· Others
Market Insights, by Application
· Revenue Cycle Management
· Patient Enrollment
· Patient Care Service
Market Insights, by End-Users
· Manufacturing Services
· Research & Development Services
· Sales & Marketing Services
Market Insight, by Region
· North America
o U.S.
o Canada
o Rest of North America
· Europe
o Germany
o UK
o France
o Italy
o Spain
o Rest of Europe
· APAC
o China
o Japan
o India
o South Korea
o Rest of APAC
· Rest of the World
Top Company Profiles
· Accenture
· Cognizant
· NTT DATA Americas, Inc.
· WNS (Holdings) Ltd.
· Xerox Corporation
· IQVIA Inc
· Mphasis
· IBM
· Wipro
· Genpact
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