by: Sarah Joson
Monday, September 14, 2015 | Outsourcing News |
A joint study conducted by The Associated Chambers of Commerce and Industry of India (Assocham) and global professional services organization EY revealed that healthcare business process outsourcing (BPO) providers in India will be facing off with new rivals from counterparts in the Philippines and the US.
The study pointed out that among other outsourcing verticals, the Philippines and other economical outsourcing locations are stepping up to the plate against India in the healthcare BPO space. Rivals in the US are also anticipated to be a challenge for Indian providers as it is knowledgeable in numerous healthcare outsourcing services.
Another drawback for the growth of India’s healthcare BPO market is data privacy because providers need to handle personal, classified healthcare information as private and sensitive as financial information. For Indian vendors to avoid problems related to data security and keep the worries of potential clients at bay, they would have to comply with international standards of security and privacy.
In addition to the challenges, experienced IT and BPO service providers that have technical know-how of integrated solutions, and big data capabilities are likely to have the upper hand in the healthcare segment.
India has several issues that need to be addressed. These include the rising cost of infrastructure, increasing salary levels, fluctuating exchange rates, connectivity, and power supply. India is currently the leader for healthcare BPO services, but concerns over policy framework such as data privacy laws, tax laws, intellectual property (IP) protection laws and clinical trial laws persist.
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