According to the latest report by IMARC Group, titled “US Healthcare BPO Market Share: Industry Trends, Size, Growth, Opportunity and Forecast 2022-2027”, the US healthcare BPO market is expected to exhibit a CAGR of 8.09% during 2022-2027.
Healthcare business process outsourcing (BPO) is a commercial outsourcing process adopted for providing support to medical staff, institutions, and organizations. It includes medical billing services, coding, transcription, and claim processing to assist healthcare providers in focusing on core business functions and treating patients more efficiently. It also aids in collecting tests and lab reports, insurance details, drug inventory, prescriptions, and bill payment records of the patients while reducing the operational costs of hiring and training the in-house team. At present, the demand for healthcare BPO is increasing across the United States due to the rising adoption of healthcare insurance services among the masses.
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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
United States Healthcare BPO Market Trends and Drivers:
The market is primarily driven by the rising adoption of healthcare BPO in the United States to offer valuable patient care and minimize the overall cost of revisits and re-treatment of patients.
In addition, the sudden outbreak of coronavirus (COVID-19) disease has escalated the demand for BPO services in the healthcare sector, representing another growth-inducing factor. Along with this, professionals are adopting healthcare BPO services to improve the accessibility of skilled healthcare professionals, thus accelerating market growth.
Moreover, the market is further propelled by rising non-core activities, such as predictable cash flow, improved patient care, and increased net returns of hospitals for better operational benefits. Besides this, the conversion of the ICD-9 coding system to ICD-10 coding system by the US government is augmenting the market growth across the country.
|United States Healthcare BPO Market Report Scope|
|Growth Rate||CAGR of 8.09% from 2022 to 2027|
|Base year for estimation||2021|
United States Healthcare BPO Market 2022-2027 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
The competitive landscape of the industry has also been examined along with the profiles of the key players.
The report has segmented the market on the basis of region, payer service, provider service and pharmaceutical service.
Breakup by Payer Service:
- Human Resource Management
- Claims Management
- Customer Relationship Management
- Operational and Administrative Management
- Care Management
- Provider Management
Breakup by Provider Service:
- Patient Enrollment and Strategic Planning
- Patient Care Service
- Revenue Cycle Management
Market Breakup by Pharmaceutical Service:
- Manufacturing Services
- Research and Development Services
- Non-clinical Services
Breakup by Region:
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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