PUNE, India, June 22, 2016 /PRNewswire/ --
According to a new market research report " Healthcare BPO Market Provider (Billing), Payer (Claims Management), Pharmaceutical (R&D, Non-Clinical (SCM, Sales and Marketing (Forecasting, Analytics))), Outsourcing Approaches (Bundled), & Models (Multisourcing, Captives) - Global Forecasts to 2021", published by MarketsandMarkets, the market is projected to reach USD 276.79 Billion by 2021 from USD 170.47 Billion in 2016, growing at a CAGR of 10.2% during the forecast period (2016-2021).
Browse 93 market data Tables with 56 Figures spread through 170 Pages and in-depth TOC on "Healthcare BPO Market"
Early buyers will receive 10% customization on this report.
The report provides a detailed overview of the major drivers, restraints, challenges, opportunities, current market trends, and strategies impacting the healthcare BPO market along with the estimates and forecasts of the revenue.
The pressure to reduce healthcare delivery costs, consolidation of healthcare systems, enactment of PPACA, stringent regulatory requirements, and complex clinical trial protocols are the major drivers for the healthcare BPO market. Mandatory implementation of ICD-10 codes in the U.S. and several pharmaceutical companies facing patent cliffs are expected to further drive the growth of the healthcare BPO market. However, fear of losing control over the outsourced process and doubts over service quality will restrain the growth of this market.
The healthcare BPO market is broadly segmented on the type of healthcare services outsourced into provider services, payer services, and pharmaceutical services. The provider services segment is further segmented into medical billing, medical coding, medical transcription, and finance and accounts. The medical billing subsegment is expected to account for the largest share of the provider services segment in 2016, owing to an increase in the number of people insured and seeking medical services.
On the basis of payer services, the healthcare BPO market is categorized into claims management, front-end/back-office operations, member management, provider management, finance and accounts, analytics and fraud management, and HR services. The claims management segment is expected to account for the largest share of the healthcare BPO market in 2016. Factors such as enactment of PPACA and pressure to make healthcare more affordable are driving the growth of this segment.
The pharmaceutical segment of the healthcare BPO market is segmented into R&D, manufacturing, and non-clinical services. The manufacturing segment is estimated to account for the largest share in 2016. The non-clinical services segment is further classified into SCM and logistics, sales and marketing, and other non-clinical services. The sales and marketing subsegment is estimated to account for the largest share in 2016.
Talk to our Experts: http://www.marketsandmarkets.com/speaktoanalyst.asp?id=472
Major players in the Healthcare BPO Market include Accenture PLC (U.S.), Cognizant Technology Solutions Corporation (U.S.), Infosys BPO Ltd. (India), Tata Consultancy Services Ltd. (India), and Xerox Corporation (U.S.).
Browse Related Reports:
Healthcare Payer Services Market by Service Type (BPO, ITO, KPO), By Application (Claims, Provider, Member management, HR services, Analytics & Fraud, Billing & Accounts) & by End Users (Public & Private Payers) - Analysis and Global Forecast to 2020
U.S. Healthcare BPO Market - Payer (Claims Processing, HR Services, and Finance and Accounts), Provider (Medical Billing and Coding), and Pharmaceutical (Clinical Trials, Contract Manufacturing, and Non-Clinical Services) - Trends and Global Forecasts to 2018
MarketsandMarkets is the world's No. 2 firm in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to a multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors.
M&M's flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. The new included chapters on Methodology and Benchmarking presented with high quality analytical infographics in our reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers.
We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.
Markets and Markets
UNIT no 802, Tower no. 7, SEZ
Magarpatta city, Hadapsar
Pune, Maharashtra 411013, India
Visit MarketsandMarkets Blog @ http://mnmblog.org/market-research/healthcare/healthcareit
Connect with us on LinkedIn @ http://www.linkedin.com/company/marketsandmarkets