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Global Healthcare BPO Market Report and Predictions

by: Sarah Joson

Monday, January 27, 2014 |

Factors contributing to the rising healthcare BPO market

 
Several factors are seen to contribute to the rapidly rising global healthcare business process outsourcing (BPO) market.

The recently released report "Healthcare BPO Market [Payer (Claims Processing, HR Services, Finance & Accounts), Provider (Medical Billing & Coding), Pharmaceutical (Clinical Trial, Contract Manufacturing, & Non-Clinical Services)] - Trends & Forecasts (2013 - 2018)" covers the key drivers, challenges, and opportunities are for the sector from 2013 to 2018.

For 2013, the market was predicted to be valued at approximately $92,325.90 million. With a 10.8 percent CAGR for the duration of 2013 to 2018, it is predicted to be valued at $188,856.50 million by 2018.

Healthcare organizations are looking for ways to be more cost-effective which is why claims processing, medical billing, and contract research activities are increasing in the market. Moreover, it was found that if payer, provider, and pharmaceutical companies outsource other processes like HR, sales and marketing, and finance and accounts, they will be able to focus more on the core functions of the business. In 2013, 80 percent of the Healthcare BPO Market was accounted for by the pharmaceutical outsourcing segment, but with the regulatory updates in the US and Europe, outsourcing activity in the payer and provider segments are expected to evolve and increase as well.     

The Healthcare BPO Market is divided into clients and providers. The key clients included in the report come from US, Europe, and Rest of the World. The provider destinations are the Philippines, India, China, the US, Europe, LATAM, the Middle East, and Rest of the World. The US posts the largest market share due to its healthcare reforms.


Source:
http://www.prnewswire.co.uk

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