The report forecasts the global healthcare business process outsourcing (BPO) market to grow at a CAGR of 5.83% during the period 2016-2020.
Commenting on the report, an analyst from the research team said: A trend which is boosting market growth is the growing phenomenon of medical document outsourcing. As healthcare organizations rely on automation of solutions to generate profit, a lack of proper automation can lead to complexities in document handling, which may lead clients to look for alternatives. In addition, lack of expertise in the specific solution associated with document handling or document processing creates a demand for outsourcing services. Centralized document management systems provided by outsourcing firms help organizations control the flow of digital documents across functional departments of hospitals. Firms can share documents among numerous functional departments such as sales and marketing, finance, and HR. Document management systems in the healthcare industry are shifting toward paperless and green printing technology.
According to the report, a key driver boosting market growth is the shift from ICD-9 to ICD-10. ICD is the medical categorization and standard diagnostics tool for epidemiology. It was introduced by the World Health Organization (WHO) for population health management. ICD-10, the latest version, has replaced the ICD-9 version of medical coding systems. Healthcare providers such as doctors, medical staffs, healthcare policy makers, medical coders, and medical researchers use ICD-10 to classify diseases and health-related issues. Healthcare payers use ICD-10 coding systems for reimbursement.
What will the market size be in 2020 and what will the growth rate be?
What are the key market trends?
What is driving this market?
What are the challenges to market growth?
Who are the key vendors in this market space?
What are the market opportunities and threats faced by the key vendors?
What are the strengths and weaknesses of the key vendors?
Companies Mentioned Include:
Cognizant Technology Solutions
Dynamic Healthcare Systems
PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by healthcare BPO services