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Healthcare BPO Market - Provider (Medical Billing & Coding) worth $188,856.5 Million by 2018

The global healthcare BPO market is valued at $92,325.9 million in 2013 and is expected to reach $188,856.5 million by 2018, at a CAGR of 10.8%. The market is categorized into payer, provider, and pharmaceutical outsourcing segments. The payer market is segmented into claims processing, member services, HR services, and finance and accounts segments. Claims processing is an important service segment in the payer outsourcing market. It is further sub-divided into claims indexing, claims investigation, claims adjudication, claims repricing, claims settlement, litigation management, and information management. The provider market is segmented into medical billing, medical coding, medical transcription, and finance and account segments. The pharmaceutical outsourcing market is segmented into contract research organizations (CRO), contract manufacturing organizations (CMO), and business support services.

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This report includes segmentation of the global market into source and destination geographies. The source geographies in this report are the U.S., Europe, and Rest of the World. The destination geographies are India, China, the U.S., Europe, Philippines, LATAM, Middle East, and Rest of the World. The U.S. accounts for the largest share in the healthcare BPO market. The report maps each of the above mentioned service segments and sub-segments according to its contribution to each source and destination segment.

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In this market, cost reduction is the main driver for outsourcing core functions like claims processing, medical billing, and contract research. Furthermore, outsourcing functions like HR services, finance and accounts, and sales and marketing enables payer, provider, and pharmaceutical companies to focus on their core functions. As such, lack of expertise in non-core areas of business is another important driver for payer, provider, and pharmaceutical outsourcing

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 The global healthcare BPO market is dominated by the U.S. A very large percentage of the healthcare BPO requirement arises out of the U.S. Europe is quickly emerging as another important source segment in this market. The U.S. and India are the two largest destination geographies. Philippines and Eastern Europe are two of the fastest growing destination segments in this market.

 The major players in the healthcare BPO market include Accenture (Ireland), Medusind (U.S.), GeBBS Healthcare (U.S.), Genpact Limited (Bermuda), Inventive (U.S.), Cognizant Technology Solutions Corporation (U.S.), Lonza (Switzerland), Catalent (U.S.), Boehringer Ingelheim (Germany), DSM Pharma (U.S.), Quintiles (U.S.), Covance (U.S.), PPD (U.S.), Parexel (U.S.), Charles Rivers Laboratories (U.S.), and ICON (Ireland), among others.

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