What Are The Recent Trends in Healthcare BPO Services Market?
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Healthcare BPO Services
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The market for healthcare BPO services is expected to grow due to the factors such as constant changes in government regulations, mounting pressure on healthcare providers to reduce healthcare costs, rising consolidation in the healthcare BPO industry. Additionally, the future trend such as outsourcing Teleradiology services is likely to increase the growth of the healthcare BPOs in the forecasted period.
Global healthcare BPO services market, based on payer service was segmented into claims administration, billing, member management, provider management, fraud management, and others. In 2017, the claims administration segment held a largest market share of 61.2% of the healthcare BPO services, by payer service. This segment is also expected to dominate the market in 2025. This is primarily attributed to the increasing demand for faster, error-free processing and payments, and a better overall customer experience is increasing. The paper claims or traditional claim administration procedures are time consuming and the Healthcare BPO enables the payers to save time and money, and provide better services to their clients by increasing efficiencies throughout the entire claims lifecycle from claims intake to final payment. However, the fraud management segment is anticipated to witness the fastest growth rate among the payer service segment.
The major players operating in the healthcare BPO services market include IBM, Accenture, WNS (Holdings) Ltd., HCL Technologies Limited., Invensis Technologies Pvt Ltd, Cognizant, Infosys Limited, Tata Consultancy Services Limited, Genpact, Xerox Corporation, GeBBS Healthcare Solutions, Capgemini, Omega Healthcare, Flatworld Solutions Pvt. Ltd., and Magellan Solutions among others.
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