Major Factor of Healthcare Business Process Outsourcing With Market Analysis

Outsourcing is a strategic move of any modern economy, which means contracting out a business process to an independent organization to perform activities previously performed by internal staff or resources. Most of the Healthcare organizations adopt outsourcing as they benefit strategic advantage such as maximizing value from their business processes and redefine their operating model, this is driving factor for every company and healthcare is not exception to it.

Healthcare sector is expected to be the one of the greatest beneficiaries of productivity improvement through increasing automated and more integrated & organized process. The healthcare business process outsourcing offers services such as revenue cycle management, disease management, clinical cost containment, customer relations, supply chain logistics, claims administration, health plan administration and human resources management. The major factors driving growth of this industry includes shortage of skillful resources, rising cost of healthcare, growing physician-hospital-patient dynamics and prevalence of quality and performance-based reimbursement models. Conflicting mandated of improved service quality and better controlled costs are restraining the growth of this market to a small extend however, services offered that is enabling the providers to direct their resources more strategically and efficiently will overcome this concern and further drive the growth of this market.

The global healthcare business process outsourcing market is forecast to reach USD 126,000 million in 2019 and is expected to grow at a CAGR of about 20.9% during 2013-2019. The chief segments of healthcare BPO covered in the report are payer (healthcare insurance companies), provider (hospitals), and pharmaceutical companies. Among all segments pharmaceutical segment is expected to be the largest revenue generating segment, accounting for more than 60.0% of the overall healthcare BPO market through 2019. Moreover, fastest growth segment is expected to be healthcare provider outsourcing followed by healthcare payer outsourcing which is about 28.9% during the analysis period.

Among all the geographical regions North America is expected to spent about 18% of their Gross Domestic Product (GDP) on healthcare and thus leads in healthcare spending capacity. The major factor backing this figure is the due to reforms introduced by the president Barack Obama who proposed a healthcare overhaul package.

The key players profiled in this market include Accenture Plc, Cognizant Technology Solutions, WNS Holdings, Genpact Limited, Affiliated Computer Services, Syntel, ExlService Holdings, Tata Consultancy Services Ltd, Parexel International Corporation, Infosys BPO, Boehringer Ingelheim Gmbh, Covance Inc, and many more.