6 September 2018, San Francisco: The global healthcare payer services market is anticipated to reach USD 69.2 billion by 2024,
according to a new report by Grand View Research. The key factors driving the
market include the increasing demand for streamlined business processes and
better customer services through the adoption of cost effective strategies.
The growing usage of
advanced technologies to deliver economical business process services, rising
adoption of digital technology, increasing focus on consumerism, and the
presence of stringent healthcare regulatory policies are certain crucial factors
boosting the healthcare payer services market in the coming years. Some of the
key participants, such as Accenture, Cognizant, EXL, HP Development Company,
L.P., Concentrix Corporation, and others, are primarily focusing on
incorporating mobility technology with health plans to engage enrolled
members.
Moreover, the growing
private healthcare insurance exchanges, increasing IT investments, and with the
Affordable Care Act (ACA) in effect, the market is set to grow. The increasing
demand to curb the overall administrative costs of member management services,
increasing demand for cost effective solutions for the healthcare payer
services, and the growing number of healthcare fraud cases are few determinants
that are expected to propel the market growth over the forecast period.
Some established players
including United Healthcare, Inc., Anthem, Inc., Aetna, Inc., Accenture,
Cognizant, Dell, HP Development Company, L.P., and Xerox Corporation are
expanding their footprint through the implementation of various technologies
such as digital technology and contract models. The technological advancements
in the overall healthcare payer services system are anticipated to positively
reinforce the market growth.
Access Research Report of Healthcare Payer Services Market @:
www.grandviewresearch.com/industry-analysis/healthcare-payer-services-market
Further Key Findings from the Study Suggest:
· In 2015, the BPO segment accounted for the
maximum revenue share of 51.7%. The growing number of people enrolling for the
insurance program, increasing pressure to bend the healthcare cost curve, and
the rising implementation of ICD-10 codes are driving this segment’s growth.
However, the KPO segment is expected to emerge as the fastest growing with a
CAGR of 17.9%. Increasing demand for accurate claim resolution and the
reduction of fraud incidences are some of the factors that are expected to
drive the market over the forecast period.
· In 2015, North America was a clear leader
with a revenue share of 77.31%. The growing insurance enrollment, lack of
low-cost skilled professionals, and the increasing demand for an integrated
healthcare system are accountable for the large market share captured by this
segment.
· Asia Pacific is expected to emerge as the
fastest growing region with a CAGR of 10.8% during the forecast period. The
Southeast Asian region is one of the major outsourcing destinations in the
world. The region includes Malaysia, Singapore, Vietnam, Philippines, India,
China, and many more, which are predominately involved in carrying out
outsourcing activities. The presence of skilled workforce to provide high-end
process services, such as software development and application development
management, is one of the prominent factors driving the Asia Pacific healthcare
payer services market in the coming years.
· The healthcare payer services market is
presently dominated by few key participants, such as United Healthcare, Inc.,
Anthem, Inc., Aetna, Inc., Cigna, Humana, Inc., Accenture, Xerox Corporation,
Genpact, IBM Corporation, and Cognizant. The healthcare payer services players
initiate merger & acquisition and corporate development strategies
primarily to further expand their reach in various other verticals. For
instance, Wipro Limited had acquired HealthPlan Services for approximately USD
460 million to diversify its health insurance product portfolio.
Browse more reports of this category by Grand View
Research at: www.grandviewresearch.com/industry/healthcare-it
Grand View Research has
segmented the healthcare payer services market by outsourcing services,
application, end use, and region:
Healthcare Payer Services Market Outsourcing Services
Outlook (Market revenue in USD Billion, 2013 - 2024)
·
BPO
·
KPO
·
ITO
Healthcare Payer Services Market Application Outlook
(Market Revenue in USD Billion, 2013 - 2024)
·
Claims Management Services
·
Integrated Front Office Service and Back
Office Operations
·
Member Management Services
·
Provider Management Services
·
Billing and Accounts Management Services
·
Analytics and Fraud Management Services
·
HR Services
Healthcare Payer Services Market End-use Outlook (Market
Revenue in USD Billion, 2013 - 2024)
·
Private Payer
·
Public Payer
Healthcare Payer Services Market Regional Outlook (Market
Revenue in USD Billion, 2013 - 2024)
·
North America
o
U.S.
o
Canada
·
Europe
o
UK
o
Germany
·
Asia Pacific
o
Japan
o
China
o
India
·
Latin America
o
Brazil
o
Mexico
·
Middle East and Africa
o
South Africa
Access Press Release of
Healthcare Payer Services Market@: www.grandviewresearch.com/press-release/global-healthcare-payer-services-market
About
Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco.The company provides
syndicated research reports,
customized research reports, and consulting services.To help clients make
informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For
More Information: www.grandviewresearch.com
No comments:
Post a Comment