Healthcare BPO Market Trends, Size, Share, Growth and Forecast to 2023

GLOBAL INDUSTRY INSIGHT:
Healthcare BPO Market Trends, Size, Share, Development, Growth and
Demand Forecast to 2023
Global Healthcare BPO Market Size, Share, Development, Growth
and Demand Forecast to 2023
The global healthcare business process outsourcing market is witnessing significant growth, due to technological
advancements in healthcare IT sector and increasing demand for reducing healthcare costs. The tenth revision of
International Statistical Classification of Diseases and Health Related Problems (ICD-10), emergence of biologics
and massive unexplored healthcare BPO market in the emerging economies are creating ample opportunities for
the growth of the global healthcare BPO market. Healthcare reforms across the globe and adoption of healthcare
BPO by major pharmaceuticals, biopharmaceuticals and biotechnology companies are supporting the demand of
cost effective and improved healthcare system.
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Healthcare BPO is the practice of outsourcing business operations by healthcare providers, payers and
organizations. Healthcare BPO has several advantages, such as availability of skilled workforce at low cost,
reduction in training and administrative costs, and high profitability for healthcare organizations, payers, and
providers. In addition, healthcare BPO also improves the quality of patient care, while reducing the investment
required for infrastructure.
The global healthcare BPO market is segmented into pharmaceuticals outsourcing, providers outsourcing, and
payers outsourcing. The pharmaceutical outsourcing segment leads the global healthcare BPO market. The
pharmaceuticals outsourcing segment can be further categorized as contract manufacturing organizations (CMO),
contract research organizations (CRO) and non-clinical services. The healthcare providers outsourcing segment
includes medical transcription, medical billing, medical coding, and finance and accounts. The healthcare payers
outsourcing segment includes customer care and member services, HR services, claims processing, and finance
and accounts.
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Some of the factors driving the growth of the global healthcare BPO market are increasing healthcare costs,
advancement in the healthcare IT technology, lack of skilled professionals and increasing demand for improved
healthcare. In addition, the high cost associated with R&D and manufacturing of drugs and reduced productivity is
compelling the major pharmaceuticals companies to outsource their business processes. However, data security
and privacy concerns, unforeseen costs, and difference in the regulatory processes within different countries are
restraining the growth of the global healthcare BPO market.
Geographically, the global healthcare BPO market is categorized as outsourcing source geographies, and
destination source geographies. Based on the outsourcing source geographies, the market is segmented into the
U.S., Europe and Rest of the World. The U.S. dominates the global healthcare BPO market, among all the
outsourcing source geographies. The reasons for the dominance of the U.S. in the market are the increasing
demand to reduce healthcare costs, and high cost associated with the R&D and manufacturing of drugs in the
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Global Healthcare BPO Market Size, Share, Development, Growth
and Demand Forecast to 2023
region. In addition, the legislative reform of Patient Protection and Affordable Care Act in the U.S. is also driving
the healthcare business process outsourcing market in the U.S. for affordable and improved healthcare. Europe is
the fastest growing outsourcing source geography, in the global healthcare BPO market. The major reason
behind fastest growth of Europe as outsourcing source geography is due to the increasing demand for improved
and cost-effective healthcare in the region.
On the basis of outsourcing destination geographies, the global healthcare BPO market comprises the U.S., India,
Philippines, Europe, Latin America and Rest of the World. Again, the U.S. leads the global healthcare BPO
market as outsourcing destination geography. Philippines is the fastest growing outsourcing destination
geography in the global healthcare BPO market, due to availability of skilled workforce at low cost and
advancements in healthcare IT technology.
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Some of the major players operating in the global healthcare BPO market are Accenture, Tata Consultancy
Services (a part of Tata Group), Genpact, Boehringer Ingelheim GmbH, Cognizant, Charles River Laboratories
International Inc., Covance Inc., Infosys Limited, Lonza Group Ltd. and Quintiles Inc.
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Global Healthcare BPO Market Size, Share, Development, Growth
and Demand Forecast to 2023
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