The key players in the healthcare BPO market are Cognizant (US), Accenture (Ireland), Xerox (US), Genpact (Bermuda), TCS (India), and Infosys (India). AdvancedMD offers a wide variety of solutions for independent practices. Some key players operating in the healthcare supply chain BPO market include  Accenture, Genpact, Cognizant Technology Solutions, Firstsource Solutions., Gebbs Healthcare Solutions, WNS (Holdings), Tata Consultancy Services, Xerox Corporation, and Flatworld Solutions. Privacy Policy. Technological advancement and integration of outsourcing processes with SCM are expected to remain the key drivers for the market during the forecast period. Explore purchase options. BPO Companies. This acquisition will help Genpact to strengthen its supply chain management consulting services in various geographic regions. With the increasing diverse pharmaceutical products being launched in the market, the need for transport management has increased drastically. Most of the leading pharmaceutical companies are outsourcing their clinical data management to professional medical writing and publishing service providers. WNS partners with 35+ global healthcare organizations to co-create industry-leading care management solutions underpinned by domain expertise, analytics and digital.. We work with the payer and provider communities to help navigate the challenges of an evolving, regulated, cost-intensive, and evidence- and value-based healthcare landscape. Moreover, minimizing the overall cost of healthcare supply chain BPO services is likely to boost market growth during the forecast period. It manages three main key processes of transportation management, such as planning and decision making in transportation and logistics, transport follow-up, and measurement of the transport management system. We never share your personal data. Based in South Jordan, Utah, they have a branch office in Springfield, Mass. We stand by our report quality. The non-clinical services segment is expected to account for the highest CAGR during the forecast period. The healthcare BPO market is expected to register a CAGR of 8%, over the forecast period. Our support available to help you 24 hours a day, five days a week. Furthermore, due to inventory management, the demand for healthcare supply chain business process outsourcing is increasing. Especially for the core employees who normally get busy in giving support in non-core tasks, this leads to instability and time spent on tasks which weren’t really necessary. EXL is one of the world’s best BPO companies who offer integrated operations management services and technology platforms for delivering instant results. Hence, many payers outsource PDBA services to third-party authorities. Growth in the revenue cycle management market can largely be attributed to factors such as decreasing reimbursements in the healthcare industry, reductions in the overall healthcare costs, initiatives undertaken by governments for implementing RCM solutions, and increasing expenditure by the Healthcare IT industry. From data entry to HR services, a number of non-core business operations can be … Elite is a quality leader in back office outsourcing, most often referred to as business process outsourcing (BPO) for the healthcare industry. In 2017, the global Healthcare BPO Market was valued at USD 191.6 billion. One of the largest providers of healthcare supply chain management solutions, PAR Excellence offers a whole suite of supply chain management products which work together and create custom configurations to fit the supply chain of the hospitals and healthcare organizations. Outsourcing is generally a cost-effective solution for startups and even established businesses that are experiencing shortages in office personnel or those that seek to reduce their operating costs. Based on provider services, the Healthcare BPO market is segmented into revenue cycle management, patient enrolment & strategic planning, and patient care. These players focused on inorganic strategies such as acquisitions, agreements, and collaborations as well as organic strategies such as product launches and expansions to sustain their growth in the market. Navigating the outsourcing suppliers can be tough - especially if you're new to outsourcing, and/or not based in the country (which most clients aren't). Finding the best one for your company, though, is challenging. The global healthcare BPO market, based on region, is segmented into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. - 147)(Business Overview, Products Offered, Strength of Product Portfolio, Business Strategy Excellence, Recent Developments. Due to this reason, this segment is expected to witness lucrative growth over the forecast period. The research report categorizes the global healthcare BPO market into the following segments and subsegments: With the given market data, MarketsandMarkets offers customizations as per the company�s specific needs. The incorporation of advanced technologies such as AI, analytics, and cloud-based service portfolio by the key players produces intense competition in the market. - 17) 1.1 Objectives of the Study 1.2 Healthcare BPO Market Definition 1.2.1 Healthcare BPO Market Covered 1.2.2 Years Considered for the Study 1.3 Currency 1.4 Limitations 1.5 Stakeholders, 2 Research Methodology (Page No. Design an exclusive study to serve your research needs. Healthcare is one of the largest sectors in the world, citing an augmentation in revenue and … How big is the healthcare supply chain BPO market? Factors that are responsible for the growth of the market include rapid increase in clinical process outsourcing (CPO), implementation of PPACA compelled healthcare player to move toward outsourcing, and fewer errors in several non-critical functions, like finance and accounting, customer care services, etc. online dashboard trial. Convergys Philippines Inc. Convergys is ranked highly among the best BPO companies in the Philippines. The percentage splits, shares, and breakdowns of the segments were determined using secondary sources and verified through primary sources. The product development & business acquisition services segment is expected to grow at the highest CAGR during the forecast period. The base year considered for the study is 2016, and the forecast for the market size is provided for the period between 2017 and 2022. To speak to our analyst for a discussion on the above findings, click Speak to Analyst, 1 Introduction (Page No. The biotechnology industry is focusing on the core activities related to drug development compared to non-core activities, such as medical affairs. The global healthcare supply chain BPO market is expected to grow at a compound annual growth rate of 5.5% from 2020 to 2027 to reach USD 3.3 billion by 2027. b. Free report customization (equivalent up to 8 analysts working days) with purchase. Changes in regulatory scenarios and increasing pressure on the healthcare industries to decrease service costs are likely to increase the demand for healthcare supply chain business process outsourcing. North America dominated the healthcare supply chain BPO market with a share of 50.0% in 2019. - 36) 5.1 Introduction 5.1.1 Drivers: Payer Services Market 5.1.1.1 Regulatory Changes in the US With the Implementation of Ppaca 5.1.1.2 Pressure to Reduce Rising Healthcare Costs 5.1.1.3 Demand for Niche Services 5.1.2 Drivers: Provider Services Market 5.1.2.1 Shift to ICD-10 Coding Standards and Upcoming ICD-11 5.1.2.2 Loss of Revenue Due to Billing Errors 5.1.2.3 Increasing Consolidation in the Healthcare Industry 5.1.2.4 Need for Structured Processes, Documentation 5.1.3 Drivers in the Pharmaceutical Service Market 5.1.3.1 Patent Cliff 5.1.3.2 Increasing R&D Costs and Strict Regulations 5.1.4 Restraints 5.1.4.1 Hidden Costs of Outsourcing 5.1.4.2 Fear of Losing Visibility and Control Over the Business Process 5.1.5 Challenges: Provider Services Market 5.1.5.1 Dearth of Skilled Workforce 5.1.5.2 Competition From Hospital Management Companies 5.2 Outsourcing Approaches 5.2.1 Bundled Services 5.2.2 Fee for Service 5.2.3 Flexible Contracts 5.2.4 Best-Shore 5.3 Outsourcing Models 5.3.1 Multisourcing 5.3.2 Captive Center 5.3.3 Hybrid Delivery Model 5.3.4 Preferred Provider 5.3.5 Strategic Partnership 5.3.6 Global Delivery Model, 6 Healthcare BPO Market By Provider Service (Page No. 11 Appendix (Page No. You might be wondering which BPO company to choose among the 100s of BPO companies hanging around on Google results. Due to this reason, the market is expected to grow during the forecast period. This is attributable to the growing demand for healthcare BPO services and the rising number of recovery audits. The BPO industry plays a vital role in the emerging economy of the Philippines and contributes over 11% to the GDP. Major players in the market were identified through secondary research and their market revenues were determined through primary and secondary research. We are in compliance with GDPR & CCPR norms. India possesses lucrative growth potential for the healthcare BPO market, by destination geography during the forecast period. UnitedHealth Group: $226.2 billion Here are the 41 healthcare companies that made the list in 2019 accompanied by their ranking and total revenues for the fiscal year ended Dec. 31, 2018: 6. Many companies worldwide rely on business process outsourcing or BPO companies to handle specific tasks or entire segments of operations. On the basis of pharmaceutical services, is segmented into manufacturing services, R&D services, and non-clinical services. It provides detailed information regarding the major factors influencing the growth of healthcare outsourcing market. To assist you in your search for a partner, we’ve compiled this list of the top BPO companies in United Kingdom. It is one of the largest BPO’s in India and provides customized business process management to customers in the sectors of banking and financial customer services, healthcare, telecom and media. Global Healthcare BPO Market Share, 2016 (%) Source: MRFR Analysis. Hence, the regional market is expected to witness significant growth over the forecast period. This data is consolidated and added to detailed inputs and analysis from MarketsandMarkets and presented in this report. To reduce expenditure and avail professional medical affairs services, biotechnology companies are outsourcing these services to contract research organizations. Who will be your Top Customer; what will make them switch? Who are the key players in the healthcare supply chain BPO market? Unlike regular BPO firms, healthcare BPO companies have to go through rigorous rounds of training to ensure that they know what they’re doing. The increasing cost of healthcare and the implementation of the Patient Protection and Affordable Care Act (PPACA) in the US have compelled payers and providers to outsource their business processes to low-cost countries. b. INFOSYS. Addition or alteration to country, regional & segment scope. Forbes.com Inc., has released the list of the “World’s Biggest Public Companies” it is the annual list of world’s largest public companies. b. Major players in the market were identified through secondary research and their market revenues were determined through primary and secondary research. 4. An increasing number of healthcare centers and rising demand for accounting services and analyzing finance services are expected to drive the market in Europe. We are industry experts who focus exclusively on providing BPO to healthcare management companies and Management Service Organizations (MSO). Transport management is one of the functions performed by companies that manage the continuous flow of the healthcare supply chain. Please share your problem/objectives in greater details so that our analyst can verify if they can solve your problem(s). Coronavirus or COVID-19 impact analysis is included in this report. Read unbiased reviews and insights, compare features and key buying criteria. Factors like a mature pharmaceutical and medical education system, large English-speaking population, low-cost base, large talent pool, and diverse set of business process outsourcing (BPO) providers, including local and multinational BPO companies, are driving the market in India. - 33) 4.1 Healthcare BPO: Market Overview 4.2 US Healthcare BPO Market, By Provider & Pharmaceutical Services (2016) 4.3 Healthcare BPO Patient Care Services Market, By Type, 2017 vs 2022 (USD Billion) 4.4 Global Market By Destination Geography (2017), 5 Market Overview (Page No. This segment is expected to witness lucrative growth over the forecast period. Information & discussion on the relevant new products and services, Information & discussion on Market insights and Market information, Information & discussion on our events and conferences, Professional and social network (Linkedin, etc), Communication and Connectivity Technology, Coatings Adhesives Sealants and Elastomers, Automotive Electronics and Electrical Equipment, Construction Technology and Sustainability, ACCESS REsearch insights on KNOWN AND UNKNOWN ADJACENCIES ON Pharmaceutical IT, Analytical and Scientific Instrumentation, Business Research and Consulting Service Providers, Integrated Front-end Services and Back-office Operations, Product Development and Business Acquisition (PDBA), Further breakdown of the European healthcare BPO market to Germany, France, the UK, Italy, and Spain, Get Data as per your Format and Definition, Gain a Deeper Dive on a Specific Application, Geography, Customer or Competitor, What are the Known and Unknown Adjacencies Impacting the Healthcare BPO Market. Get your queries resolved from an industry expert. Please fill out the form below for a free PDF report sample & The Americas is expected to hold the largest share of the global healthcare BPO … The global healthcare supply chain BPO market size was estimated at USD 2.1 billion in 2019 and is expected to reach USD 2.2 billion in 2020. b. Some of the prominent players in the healthcare supply chain BPO market include: Revenue in USD million and CAGR from 2020 to 2027, Revenue forecast, company ranking, competitive landscape, growth factors, and trends, North America; Europe; Asia Pacific; Latin America; MEA, The U.S.; Canada; The U.K.; Germany; France; Italy; Spain; China; India; Japan; Thailand; South Korea; Brazil; Mexico; Argentina; Columbia; South Africa; Saudi Arabia; UAE, Accenture; Cognizant Technology Solutions; Genpact. BPO Companies are the norm for several industries today: Business Process Outsourcing is a great way to cut down costs and improve productivity with a singular focus on core business activities. [201 Pages Report] Healthcare BPO market is estimated to grow at a CAGR of 10.2% from 2017 to 2022 to reach $312.43 billion by 2022 from $191.68 billion in 2017. Secondary research included the study of the annual and financial reports of top market players, whereas primary research included extensive interviews with key opinion leaders such as CEOs, directors, and marketing executives. AdvancedMD is a business process outsourcing firm for the healthcare industry. View top Healthcare BPO Services Vendors 360 … For the purpose of this study, Grand View Research has segmented the global healthcare supply chain BPO market report on the basis of payer service, end-user, and region: Payer Service Outlook (Revenue, USD Million, 2016 - 2027), End-user Outlook (Revenue, USD Million, 2016 - 2027), Biotechnology and Pharmaceutical Companies, Academic and Government Research Institutes, Regional Outlook (Revenue, USD Million, 2016 - 2027). Request discounts available for Start-Ups & Universities. Accenture’s services are availed of by companies in a wide range of industries including insurance and banking. Largest consultation firm globally what are the key players in terms of market developments, product portfolios, and of. Reduce expenditure and avail professional medical affairs services, is segmented into manufacturing services, is challenging No... Highly among the 100s of BPO companies hanging around on Google results market were! 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