Healthcare BPO Market Research Report - Global Forecast till 2023

Healthcare BPO Market Research Report - Global Forecast till 2023

ID: MRFR/HC/0827-CRR | October, 2017 | Region: Global | 85 pages | Cooked Research Reports

Healthcare Business Process Outsourcing (BPO) Market Information: By Service (Pharmaceutical, Payer, Provider), By Region (Americas (US, Canada), Europe (Germany, France), Asia (China, India) Pacific, Middle East & Africa) – Trends and Forecast till 2023


 


Intended Audience



  • Pharmaceutical Companies

  • Biotechnology Companies

  • Market Research and Consulting Service Providers

  • Potential Investors




Market Scenario


The healthcare BPO helps remove the complexity of tedious tasks. The healthcare BPO services enrich resource allocation, boost financial performance and increase the effectiveness of healthcare providers. The healthcare BPO provides services such as: medical billing & collection medical billing, medical coding, medical data entry, medical records indexing, medical claims processing and others. Technological improvements in medical care & the rising demand for health services from geriatric population are driving a sea of change in the healthcare industry. Moreover, digital technologies have transformed the processes from electronic records to telemedicine.


However, errors in the healthcare sector, especially in the patient’s medical records can cost lives. Medical bills also contain large number of errors as changing billing rules and regulations are rarely updated on time. Increasing patient inflow result in the occurrence of these types of mistake in the healthcare organizations. Healthcare BPO services can help in avoiding critical billing mistakes as a dedicated team of trained professionals handle medical data entry tasks with maximum accuracy.


Increasing number of healthcare organization, to avoid the critical mistakes in medical billing, and increasing need for cost saving drives the growth of the market. Moreover, increasing number of recovery audits, increasing patient inflow, and increasing prevalence of diseases have provided fuel to the market growth. Furthermore, increasing need a number of medical aspects such as minimizing critical mistakes, the cost saving, number of recovery audits, number of healthcare organizations, patient inflow, demand for niche services, overall demand for delivering better services and better healthcare expenditure have fuelled the growth of the market.


However, on the other hand doubts over service quality may hamper the growth of the market over the review period


The global healthcare BPO market is expected to grow at a CAGR of 12.3% during the forecast period 2017-2023.


 


Research Methodology

Global Healthcare BPO Market


Source: World Health Organization, Centers for Disease Control and Prevention, expert interview market research future analysis, annual report, white paper, company presentation


Segmentation                                                                                                                                      


The global healthcare BPO market is segmented on the basis of services, into pharmaceutical services, payer services, and provider services.

Figure: Global Healthcare BPO Market, by services, 2016 (%)

Global Healthcare BPO Market-


Source: World Health Organization, Centers for Disease Control and Prevention, expert interview market research future analysis, annual report, white paper, company presentation


 


Key Findings



  • The global healthcare BPO market and is expected to reach USD 449,623.8 million by 2023 at CAGR of 12.3%.

  • Pharmaceutical service segment accounted for the largest share with 72.2 % in the global healthcare BPO market, by services in 2016.

  • Americas hold the largest market share of healthcare BPO market and is anticipated to reach USD 254,713.4 million by the end of the forecast period.

  • Asia Pacific is the fastest growing region across the globe and expected to grow at a rate of CAGR 12.6% during the forecast period.


 


Regional Analysis


The Americas dominate the global healthcare BPO market owing to the presence of strong economic conditions and huge development in healthcare domain. Moreover, according to the Centers for Medicare & Medicaid Services, in 2014, recovery auditors identified and corrected USD 2.39 billion as overpayment and USD 173.1 million as underpayment. They also suggests that collectively 1.1million claims were registered to recover USD 2.57 billion.


Europe holds the second position in the market owing to healthcare spending has expanded slightly in UK and Germany. Western Europe continues to see a need to save money on healthcare because of a slight drop in financial growth and obstinate economic pressure. According to the Organization for Economic Co-operation and Development (OECD), the healthcare expenditure in Germany was EUR 321 billion in 2014, France recorded the second highest level of current healthcare expenditure of EUR 237 billion, followed by the United Kingdom of EUR 223 billion. 


Asia Pacific is the fastest growing market owing to more number of developing nations present in this region, for instance, countries like India and China are encouraging the growth of the healthcare IT domain. Furthermore, increasing patient population from cancer in developing countries will directly increase the demand for various diagnosis & treatment methods and it will boost the growth of the market. Moreover, Healthcare spending in Asia expanded in 2016 due to an extension of state healthcare programs and the increasing affluence of the population. India, in specific, saw expansion in its healthcare expenditure due to a government resolution to enhance healthcare services, which is estimated to further will boost the market growth


The Middle East & Africa is expected to hold the least market share due to less availability of medical facilities, and less development in the healthcare domain. However, countries such as Qatar and Kuwait are focusing more on healthcare domain and developing medical facilities, which will boost the market growth in this region. 


Key Players                                                                                                         


Some of the key players in this market are QuintilesIMS, HCL Technologies Limited, Covance Inc., IBM, Catalent, Inc., PAREXEL International Corporation, Lonza, Infosys Limited, Charles River Laboratories International, Inc., Genpact, SUTHERLAND, and others.


 


 

License

Single User Enterprise User (Buy Premium Reports Chapterwise)
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TABLE OF CONTENTS

2.1 Scope of Study…………………………………………………………………………………..11
2.2 Research Objective……………………………………………………………………………..11
2.3 Assumptions & Limitations……………………………………………………………………..11
2.3.1 Assumptions……………………………………………………………………………11
2.3.2 Limitations………………………………………………………………………………11
2.4 Market Structure…………………………………………………………………………………12

3.1 Primary Research……………………………………………………………………………….14
3.2 Secondary Research……………………………………………………………………………15
3.3 Market Size Estimation…………………………………………………………………………15
3.3.1 Market Share analysis………………………………………………………………...16
3.4 Market Pricing Approach……………………………………………………………………….17

4.1 Introduction………………………………………………………………………………………18
4.2 Drivers…………………………………………………………………………………………….19
4.2.1 Minimizing Critical Mistakes…………………………………………………………..19
4.2.2 Increase in cost saving………………………………………………………………..20
4.2.3 Increase in recovery audits…………………………………………………………...21
4.2.4 Demand for niche services……………………………………………………………22
4.3 Restrains…………………………………………………………………………………………23
4.3.1 Doubts over service quality…………………………………………………………...23
4.4 Opportunities…………………………………………………………………………………….24
4.5 Trends…………………………………………………………………………………………….24
4.5.1 Adoption of the BPO services in healthcare sector………………………………..24
4.6 Macroeconomic Indicators……………………………………………………………………..25

5.1 Value Chain Analysis……………………………………………………………………………26
5.1.1 Product development & business acquisition (PDBA) …………………………….26
5.1.2 Member management…………………………………………………………………26
5.1.3 Provider management…………………………………………………………………26
5.1.4 Care management……………………………………………………………………..27
5.1.5 Claims management…………………………………………………………………..27
5.2 Porters Five Forces Model……………………………………………………………………..28
5.2.1 Bargaining power of suppliers………………………………………………………..28
5.2.2 Bargaining power of buyers…………………………………………………………..29
5.2.3 Threat of new entrants………………………………………………………………...29
5.2.4 Threat of substitutes…………………………………………………………………..29
5.2.5 Intensity of rivalry………………………………………………………………………29
5.3 Pricing Analysis ………………………………………………………………………………….30
5.4 Investment Opportunity Analysis ………………………………………………………………31

6.1 Introduction………………………………………………………………………………………32
6.2 Pharmaceutical Service…………………………………………………………………. …….34
6.3 Payer Services…………………………………………………………………………………..35
6.4 Provider Services………………………………………………………………………………..36

7.1 Introduction………………………………………………………………………………………37
7.2 Americas………………………………………………………………………………………….39
7.2.1 North America………………………………………………………………………….41
7.2.1.1 U.S. ……………………………………………………………………………42
7.2.1.2 Canada ………………………………………………………………………..43
7.2.2 South America………………………………………………………………………….44
7.3 Europe……………………………………………………………………………………………45
7.3.1 Western Europe………………………………………………………………………..48
7.3.1.1 Germany………………………………………………………………………49
7.3.1.2 France…………………………………………………………………………50
7.3.1.3 U.K. ……………………………………………………………………………51
7.3.1.4 Italy…………………………………………………………………………….52
7.3.1.5 Spain…………………………………………………………………………..53
7.3.1.6 Rest of Western Europe …………………………………………………….54
7.3.2 Eastern Europe………………………………………………………………………...55
7.4 Asia Pacific……………………………………………………………………………………….57
7.4.1 Japan……………………………………………………………………………………59
7.4.2 China……………………………………………………………………………………61
7.4.3 India……………………………………………………………………………………..62
7.4.4 Republic of Korea……………………………………………………………………...63
7.4.5 Australia………………………………………………………………………………...64
7.4.6 Rest of Asia-Pacific……………………………………………………………………65
7.5 The Middle East & Africa………………………………………………………………………66
7.5.1 The Middle East……………………………………………………………………….68
7.5.2 Africa……………………………………………………………………………………69

8.1 Introduction………………………………………………………………………………………70
8.2 Company Share Analysis………………………………………………………………………70
8.3 Key Developments………………………………………………………………………………72

9.1 Sykes……………………………………………………………………………………………..73
9.1.1 Company Overview……………………………………………………………………73
9.1.2 Financials……………………………………………………………………………….73
9.1.3 Product ………………………………………………………………………………….73
9.1.4 Strategy…………………………………………………………………………………73
9.1.5 Key Developments…………………………………………………………………….73
9.2 IBM………………………………………………………………………………………………..74
9.2.1 Company Overview……………………………………………………………………74
9.2.2 Financials……………………………………………………………………………….74
9.2.3 Product ………………………………………………………………………………….74
9.2.4 Strategy…………………………………………………………………………………74
9.2.5 Key Developments…………………………………………………………………….74
9.3 ACCENTURE……………………………………………………………………………………75
9.3.1 Company Overview……………………………………………………………………75
9.3.2 Financials……………………………………………………………………………….75
9.3.3 Product ………………………………………………………………………………....75
9.3.4 Strategy…………………………………………………………………………………75
9.4 Cognizant………………………………………………………………………………………...76
9.4.1 Company Overview……………………………………………………………………76
9.4.2 Financials……………………………………………………………………………….76
9.4.3 Product ………………………………………………………………………………….76
9.4.4 Strategy…………………………………………………………………………………76
9.4.5 Key Developments…………………………………………………………………….76
9.5 QUINTILES………………………………………………………………………………………77
9.5.1 Company Overview……………………………………………………………………77
9.5.2 Financials……………………………………………………………………………….77
9.5.3 Product ………………………………………………………………………………….77
9.5.4 Strategy…………………………………………………………………………………77
9.5.5 Key Developments…………………………………………………………………….77
9.6 HCL……………………………………………………………………………………………….78
9.6.1 Company Overview……………………………………………………………………78
9.6.2 Financials……………………………………………………………………………….78
9.6.3 Product ………………………………………………………………………………….78
9.6.4 Strategy…………………………………………………………………………………78
9.6.5 Key Developments…………………………………………………………………….78
9.7 INFOSYS…………………………………………………………………………………………79
9.7.1 Company Overview……………………………………………………………………79
9.7.2 Financials……………………………………………………………………………….79
9.7.3 Product ………………………………………………………………………………….79
9.7.4 Strategy…………………………………………………………………………………79

10.1 Key Findings……………………………………………………………………………………..80
10.1.1 CEO’s Viewpoint……………………………………………………………………….80
10.1.2 Unmet Needs…………………………………………………………………………..80
10.1.3 Key Companies to Watch……………………………………………………………..80

11.1 Discussion Blue Print……………………………………………………………………………81
11.2 References……………………………………………………………………………………….82

TABLE 1 PRIMARY INTERVIEWS……………………………………………………………………….16
TABLE 2 GLOBAL HEALTHCARE BPO MARKET, BY SERVICES 2014-2023 (USD MILLION)…33
TABLE 3 GLOBAL HEALTHCARE BPO MARKET, BY PHARMACEUTICAL SERVICES 2014-2023 (USD MILLION) ……………………………………………………………………………………………...34
TABLE 4 GLOBAL HEALTHCARE BPO MARKET, BY PAYER SERVICES 2014-2023 (USD MILLION) ……………………………………………………………………………………………………………35
TABLE 5 GLOBAL HEALTHCARE BPO MARKET, BY PROVIDER SERVICES 2014-2023 (USD MILLION) ……………………………………………………………………………………………………………36
TABLE 6 GLOBAL HEALTHCARE BPO MARKET, BY REGION, 2014-2023 (USD MILLION)…...38
TABLE 7 AMERICAS HEALTHCARE BPO MARKET, BY REGION, 2014-2023 (USD MILLION)..40
TABLE 8 NORTH AMERICA HEALTHCARE BPO MARKET, BY SERVICES, 2014-2023 (USD MILLION)………………. …………………………………………………………………………………………..41
TABLE 9 U.S. HEALTHCARE BPO MARKET, BY SERVICES, 2014-2023 (USD MILLION) …….42
TABLE 10 CANADA HEALTHCARE BPO MARKET, BY SERVICES, 2014-2023 (USD MILLION)..43
TABLE 11 SOUTH AMERICA HEALTHCARE BPO MARKET, BY PRODUCT TYPES, 2014-2023 (USD MILLION) …………………………………………………………………………………………………….44
TABLE 12 EUROPE HEALTHCARE BPO MARKET, BY REGION, 2014-2023 (USD MILLION)…..46
TABLE 13 EUROPE HEALTHCARE BPO MARKET, BY SERVICES, 2014-2023 (USD MILLION).47
TABLE 14 WESTERN EUROPE HEALTHCARE BPO MARKET, BY SERVICES, 2014-2023 (USD MILLION)…………………………. ………………………………………………………………………………..48
TABLE 15 GERMANY HEALTHCARE BPO MARKET, BY SERVICES, 2014-2023 (USD MILLION) ………………………………………………………………………………………………………………………..49
TABLE 16 FRANCE HEALTHCARE BPO MARKET, BY SERVICES, 2014-2023 (USD MILLION)..50
TABLE 17 U.K. HEALTHCARE BPO MARKET, BY SERVICES, 2014-2023 (USD MILLION)…..…51
TABLE 18 ITALY HEALTHCARE BPO MARKET, BY SERVICES, 2014-2023 (USD MILLION)…...52
TABLE 19 SPAIN HEALTHCARE BPO MARKET, BY SERVICES, 2014-2023 (USD MILLION)…..53
TABLE 20 REST OF WESTERN EUROPE HEALTHCARE BPO MARKET, BY SERVICES, 2014-2023 (USD MILLION) ……………………………………………………………………………………………...54
TABLE 21 EASTERN EUROPE HEALTHCARE BPO MARKET, BY SERVICES, 2014-2023 (USD MILLION) ……………………………………………………………………………………………………………55
TABLE 22 ASIA-PACIFIC HEALTHCARE BPO MARKET, BY COUNTRY, 2014-2023 (USD MILLION) ……………………………………………………………………………………………………………57
TABLE 23 ASIA-PACIFIC HEALTHCARE BPO MARKET, BY SERVICES, 2014-2023 (USD MILLION) ……………………………………………………………………………………………………………58
TABLE 24 JAPAN HEALTHCARE BPO MARKET, BY SERVICES, 2014-2023 (USD MILLION)….59
TABLE 25 CHINA HEALTHCARE BPO MARKET, BY SERVICES, 2014-2023 (USD MILLION)…..61
TABLE 26 INDIA HEALTHCARE BPO MARKET, BY SERVICES, 2014-2023 (USD MILLION)……62
TABLE 27 REPUBLIC OF KOREA HEALTHCARE BPO MARKET, BY SERVICES, 2014-2023 (USD MILLION) ……………………………………………………………………………………………………………63
TABLE 28 AUSTRALIA HEALTHCARE BPO MARKET, BY SERVICES, 2014-2023 (USD MILLION) ………………………………………………………………………………………………………………………..64
TABLE 29 REST OF ASIA-PACIFIC HEALTHCARE BPO MARKET, BY SERVICE, 2014-2023 (USD MILLION) …………………………………………………………………………………………………….65
TABLE 30 THE MIDDLE EAST & AFRICA HEALTHCARE BPO MARKET, BY REGION, 2014-2023 (USD MILLION) …………………………………………………………………………………………………….66
TABLE 31 THE MIDDLE EAST & AFRICA HEALTHCARE BPO MARKET, BY SERVICE, 2014-2023 (USD MILLION) …………………………………………………………………………………………………….67
TABLE 32 THE MIDDLE EAST HEALTHCARE BPO MARKET, BY SERVICES, 2014-2023 (USD MILLION) ……………………………………………………………………………………………………………68
TABLE 33 AFRICA HEALTHCARE BPO MARKET, BY PRODUCT TYPES, 2014-2023 (USD MILLION) ……………………………………………………………………………………………………………69


FIGURE 1 GLOBAL HEALTHCARE BPO MARKET SHARE, BY SERVICES, 2016 (%)……………..9
FIGURE 2 GLOBAL HEALTHCARE BPO MARKET SHARE, BY REGION, 2016 (%) ………………10
FIGURE 1 GLOBAL HEALTHCARE BPO MARKET: MARKET STRUCTURE……………………….12
FIGURE 2 RESEARCH PROCESS ………………………………………………………………………..13
FIGURE 3 HEALTHCARE BPO MARKET: VALUE CHAIN ANALYSIS……………………………….26
FIGURE 4 PORTERS FIVE FORCES MODEL: HEALTHCARE BPO MARKET……………………..28
FIGURE 5 GLOBAL HEALTHCARE BPO MARKET, BY SERVICES, 2016 & 2023 (USD MILLION) ………………………………………………………………………………………………………………………..32
FIGURE 6 GLOBAL HEALTHCARE BPO MARKET, BY REGION, 2016 & 2023 (USD MILLION)...37
FIGURE 7 AMERICAS HEALTHCARE BPO MARKET SHARE, BY REGION, 2016 (%)…………...39
FIGURE 8 EUROPE HEALTHCARE BPO MARKET SHARE, BY REGION, 2016 (%)……………...45
FIGURE 9 ASIA-PACIFIC HEALTHCARE BPO MARKET SHARE, BY REGION, 2016 (%)………..57
FIGURE 10 THE MIDDLE EAST & AFRICA HEALTHCARE BPO MARKET SHARE, BY REGION, 2016 (%)……………………………………………………………………………………………………………..66
FIGURE 11 GLOBAL HEALTHCARE BPO COMPANY SHARE ANALYSIS, 2016 (%)………………71