Healthcare business process outsourcing (Healthcare BPO) is a specialist process vendor or technology, which manages the critical and non-critical enterprise and application of an organization. Healthcare BPO services are distinguished are based on the payers and providers.
The payers services include in managing the product development, business acquisitions, provides management, member management, care management, claim management services. The healthcare business process services for the providers and payers enhances the efficiencies, reduces cost, increases outcomes, reduces risk, deliver competitive services and cost effective.
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Healthcare outsourcing is an important part of the organization to reduce the cost by providing efficient healthcare services. The healthcare BPO services help vendors to minimize the administrative cost, minimizes the cost in delivering the healthcare, electronic medical records management, consumer engagement and clinical transformation. Also, the healthcare outsourcing helps and minimizes the error occurs in the medical billing, enable access to specialist, minimizes staff training cost.
North America healthcare BPO market is expected to register a healthy CAGR of 11.0% in the forecast period of 2019 to 2026. The new market report contains data for historic year 2017, the base year of calculation is 2018 and the forecast period is 2019 to 2026.
Major growing sectors under the market segmentation are as follows:
In component segment, provider services segment is growing at the highest CAGR, because medical billing and medical coding is expected to raise due to demand for ICD -10 coding standards in healthcare and upcoming ICD – 11 coding standards.
In the end user segment, the hospital segment is growing with the highest CAGR because hospitasl are bigger establishment and hence they outsource most of their administration and financial and revenue cycle task to third party vis a vis healthcare BPO, so that doctors and nurses can pay their full attention to patients.
Top Key Players:
GEBBS HEALTHCARE SOLUTIONS
UNITED HEALTH GROUP
INVENSIS TECHNOLOGIES PVT LTD
HCL TECHNOLOGIES LIMITED
WNS (HOLDINGS) LTD
PHARMACEUTICAL PRODUCT DEVELOPMENT, LLC.
SUTHERLAND GLOBAL, INC.
PREMIER BPO, INC.
By Component (Payer Services, Provider Services, Pharmaceutical Services), End User (Hospital, Dental Clinics, Public Services, Life Sciences Companies, Medical Devices Companies, Pharmacy Benefit Managers, Others), Country (U.S., Canada, Mexico) Industry Trends and Forecast to 2026.
North America healthcare BPO market is segmented into three notable segments such as component, end user and geography.
On the basis of component, the market is segmented into payer services, provider services and pharmaceutical services. The payer segment is further segmented into integrated front end and back office operations, provider management, billing and accounts management, human resource management, claims management, customer relationship management, operational/administrative management, product development and care management. The provider segment is further segmented into medical billing, medical coding, medical transcription, finance and accounts, patient enrolment and strategic planning, device monitoring, revenue cycle management. The pharmaceutical services segment is further segmented as manufacturing outsourcing, pharmacovigilance services, clinical data management, research and development, non-clinical services, sales and marketing, supply chain management and logistics, other non-clinical functions and others. In 2019, provider services segment is growing at the highest CAGR and expected to reach USD in the forecast period of 2019 to 2026.
On the basis of end user, the market is segmented into hospitals, dental clinics, public services, life sciences companies, medical devices companies, pharmacy benefit managers and others. In 2019, hospital segment is growing at the highest CAGR and expected to reach USD in the forecast period of 2019 to 2026.
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