Global Healthcare BPO Market

Global Healthcare BPO Market Size, Share, Growth Analysis, By Payer service(Claims management, integrated front-end services and back-office operations), By Provider service(Revenue cycle management, patient care), By Pharmaceutical service(Manufacturing services, research and development services) - Industry Forecast 2024-2031


Report ID: SQMIG35D2075 | Region: Global | Published Date: February, 2024
Pages: 242 | Tables: 95 | Figures: 78

Global Healthcare BPO Market Insights

Healthcare BPO Market size was valued at USD 334.15 billion in 2019 and is poised to grow from USD 365.9 billion in 2023 to USD 755.76 billion by 2031, growing at a CAGR of 9.49% in the forecast period (2024-2031).

Healthcare BPO is a process that is delegated to an outside provider. The growth of the market is attributed to rising pressure to reduce increasing healthcare costs, increasing demand for niche services, and stringent regulations. Governments are making favourable changes to reduce the cost of healthcare and increase concentration in the healthcare industry. In addition, to protect the confidentiality of confidential patient information, detecting and managing network security fraud, and ensuring that critical mistakes are avoided are the main reasons that increase the outsourcing healthcare business processes within the hospitals and healthcare system. The invention of outsourcing business processes for healthcare has resulted in improved patients care and increased workflow efficiency.

In addition, increase in the number of people looking for healthcare insurance and the assurance of government support are the factors which contributes to the growth of the global market. Further, high costs of outsourcing and fear of losing visibility and control over the business process are the factors which hamper the market growth.

US Healthcare BPO Market is poised to grow at a sustainable CAGR for the next forecast year.

Market snapshot - 2024-2031

Global Market Size

USD 334.15 billion

Largest Segment

RCM

Fastest Growth

RCM

Growth Rate

9.49% CAGR

Global Healthcare BPO Market ($ Bn)
Country Share for North America Region (%)
Global Healthcare BPO Market By Type ($ Bn)
Global Healthcare BPO Market By Type (%)

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Global Healthcare BPO Market Segmental Analysis

The global healthcare BPO market is segmented into payer service, provider service, and pharmaceutical service. Based on payer service, the global market is segmented into claims management, integrated front-end services and back-office operations, member management, provider management, care management, product development and business acquisition, IL.billing and accounts management services, human resource services. Based on provider, the global market is segmented into revenue cycle management, patient care, patient enrolment and strategic planning. Based on pharmaceutical service, the global market is segmented into manufacturing services, research and development services, and non-clinical services. By region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and MEA.

Healthcare BPO Market Analysis by Payer Service

Claims management is expected to dominate the market during the forecast period. The growth of this segment is attributed to rising adoption of insurance, changing healthcare regulations regarding health insurance and medical claims, scarcity of expertise.

Healthcare BPO Market Analysis by Provider Service

The revenue cycle management segment is expected to dominate the global market during the forecast period. RCM is a technologically advanced system that handles administrative functions through sophisticated billing, payment processing, and electronic health record systems. The article “Revenue Cycle Management in Healthcare”, published in July 2022, in many hospitals handle billing using ineffective manual system that causes billing issues by human error such as data entry blunders. Hence, the demand for revenue cycle management is increased. Key players are focusing on new product launches to strengthen their positions in the market which is ultimately contribute to the segment growth.

Global Healthcare BPO Market By Type, 2023 (%)

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Global Healthcare BPO Market Regional Insights

North America is expected to dominate the global market during the forecast period. United States is expected to hold largest market revenue share of the North American region. Increasing awareness about outsourcing healthcare IT services and the strong presence of prominent market players are the factors that contribute to the regional market growth. Increasing governments initiatives further drives the market. For example, in Feb 2022, the Department of Health and Human Services awarded nearly USD 55 million to 29 HRSA-funded health centers to increase healthcare access. In addition, rising number of people seeking insurance, increasing pressure to reduce healthcare costs, pharmaceuticals companies facing patent cliffs and the mandatory implementation of ICD-10 codes are the major factors that help to drive the US BPO market which ultimately boost the growth of the North America BPO market.

Asia Pacific is expected to grow at the fastest rate during the forecast period due to mature pharmaceutical and medical education system, low-cost base, and large English-speaking population.

Global Healthcare BPO Market By Region, 2024-2031
  • Largest
  • Fastest

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Global Healthcare BPO Market Dynamics

Healthcare BPO Market Driver

  • Increasing Pressure to Reduce Growing Healthcare Costs

Cost savings form an important consideration in outsourcing. In the US, there is the pressure on the margins of healthcare payers due to increasing health insurance exchanges. This enables consumers to obtain coverage from competing private healthcare providers and is likely to accelerate the adoption of outsourcing to rationalize costs.

Healthcare BPO Market Restraint

  • Hidden Outsourcing Costs

Improper planning and financial allotment for outsourcing activities often lead to negative impact on cost savings and the business value that can be derived from outsourcing. Companies planning finances while outsourcing their business fail to take into account unforeseen costs, such as those incurred while evaluating and selecting vendor, managing offshore contracts, process transition and enhancing security and severance pay for employee. In addition, customised services and solutions provided by vendors are likely to cost 15-30% more than standard service.

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Global Healthcare BPO Market Competitive Landscape

The healthcare BPO market is moderately competitive and consist of several major players. The key players adopted the strategies such as mergers, partnerships, new product launches to strengthen their position in the global market. The increasing need for mobile health and advances in healthcare systems are also helping few others players to enter the market with substantial share.

Healthcare BPO Market Top Player's Company Profiles

  • Accenture
  • Cognizant
  • Genpact
  • Wipro
  • Infosys
  • HCL Technologies
  • IBM Corporation
  • Xerox Corporation
  • Capgemini
  • Tata Consultancy Services (TCS)
  • Conduent
  • Invensis Technologies
  • Omega Healthcare
  • Gebbs Healthcare Solutions
  • WNS Global Services
  • AGS Health
  • Firstsource Solutions
  • RR Donnelley & Sons Company
  • Sutherland Global Services
  • Allscripts Healthcare Solutions

Healthcare BPO Market Recent Developments

  • In Jan 2022, NextGen Healthcare, an ambulatory technology company, planned to expand its portfolio in the RCM business.
  • In March 2022, CPSI, a healthcare solutions company, acquired Healthcare Resource Group., based in Spokane, Washington. HRG is a leading provider of customized RCM solutions and consulting services that enables hospitals and clinics to improve efficiency, profitability, and patient satisfaction.

 

Global Healthcare BPO Key Market Trends

  • The use of artificial intelligence automation in operations that prevents costly medical mistakes for healthcare providers on one hand and optimizing the use of assets in superior patient outcomes.
  • Growing adoption of omnichannel customer service strategy by healthcare providers for offering a consistent experience across all customer channel.

Global Healthcare BPO Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.

According to global healthcare BPO market analysis, the increasing demand for reduce healthcare costs, increasing adoption of AI, rising governments initiatives are the factors that drive the global market. Hidden outsourcing costs is the factor that restrain the market. US country is expected to held largest revenue share during the forecast period. In addition, need for mobile health and technological advancements in healthcare is also boost the market.

Report Metric Details
Market size value in 2023 USD 334.15 billion
Market size value in 2031 USD 755.76 billion
Growth Rate 9.49%
Forecast period 2024-2031
Forecast Unit (Value) USD Billion
Segments covered
  • Payer service
    • Claims management, integrated front-end services and back-office operations, member management, provider management, care management, product development and business acquisition, billing and accounts management services, human resource services
  • Provider service
    • Revenue cycle management, patient care, patient enrolment and strategic planning
  • Pharmaceutical service
    • Manufacturing services, research and development services, and non-clinical services
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Accenture
  • Cognizant
  • Genpact
  • Wipro
  • Infosys
  • HCL Technologies
  • IBM Corporation
  • Xerox Corporation
  • Capgemini
  • Tata Consultancy Services (TCS)
  • Conduent
  • Invensis Technologies
  • Omega Healthcare
  • Gebbs Healthcare Solutions
  • WNS Global Services
  • AGS Health
  • Firstsource Solutions
  • RR Donnelley & Sons Company
  • Sutherland Global Services
  • Allscripts Healthcare Solutions

Healthcare BPO Market Recent Developments

  • In Jan 2022, NextGen Healthcare, an ambulatory technology company, planned to expand its portfolio in the RCM business.
  • In March 2022, CPSI, a healthcare solutions company, acquired Healthcare Resource Group., based in Spokane, Washington. HRG is a leading provider of customized RCM solutions and consulting services that enables hospitals and clinics to improve efficiency, profitability, and patient satisfaction.
Customization scope

Free report customization with purchase. Customization includes:-

  • Segments by type, application, etc
  • Company profile
  • Market dynamics & outlook
  • Region

Historical Year 2019

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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Global Healthcare BPO Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Global Healthcare BPO Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Global Healthcare BPO Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Healthcare BPO Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Healthcare BPO Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Global Healthcare BPO Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

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FAQs

Healthcare BPO Market size was valued at USD 334.15 billion in 2019 and is poised to grow from USD 365.9 billion in 2023 to USD 755.76 billion by 2031, growing at a CAGR of 9.49% in the forecast period (2024-2031).

The healthcare BPO market is moderately competitive and consist of several major players. The key players adopted the strategies such as mergers, partnerships, new product launches to strengthen their position in the global market. The increasing need for mobile health and advances in healthcare systems are also helping few others players to enter the market with substantial share. 'Accenture', 'Cognizant', 'Genpact', 'Wipro', 'Infosys', 'HCL Technologies', 'IBM Corporation', 'Xerox Corporation', 'Capgemini', 'Tata Consultancy Services (TCS)', 'Conduent', 'Invensis Technologies', 'Omega Healthcare', 'Gebbs Healthcare Solutions', 'WNS Global Services', 'AGS Health', 'Firstsource Solutions', 'RR Donnelley & Sons Company', 'Sutherland Global Services', 'Allscripts Healthcare Solutions', 'In Jan 2022, NextGen Healthcare, an ambulatory technology company, planned to expand its portfolio in the RCM business.', 'In March 2022, CPSI, a healthcare solutions company, acquired Healthcare Resource Group., based in Spokane, Washington. HRG is a leading provider of customized RCM solutions and consulting services that enables hospitals and clinics to improve efficiency, profitability, and patient satisfaction.'

Increasing Pressure to Reduce Growing Healthcare Costs

The use of artificial intelligence automation in operations that prevents costly medical mistakes for healthcare providers on one hand and optimizing the use of assets in superior patient outcomes.

North America is expected to dominate the global market during the forecast period. United States is expected to hold largest market revenue share of the North American region. Increasing awareness about outsourcing healthcare IT services and the strong presence of prominent market players are the factors that contribute to the regional market growth. Increasing governments initiatives further drives the market. For example, in Feb 2022, the Department of Health and Human Services awarded nearly USD 55 million to 29 HRSA-funded health centers to increase healthcare access. In addition, rising number of people seeking insurance, increasing pressure to reduce healthcare costs, pharmaceuticals companies facing patent cliffs and the mandatory implementation of ICD-10 codes are the major factors that help to drive the US BPO market which ultimately boost the growth of the North America BPO market.

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