Healthcare BPO market - Payer (Claims processing), Provider (Medical billing & coding) & Pharmaceutical (Clinical trial & contract Manufacturing) outsourcing - Global analysis & forecasts (2011 - 2016)

MarketsandMarkets
January 6, 2012
454 Pages - SKU: MKMK6744262
License type:
Healthcare BPO Market - Payer (Claims processing), Provider (Medical Billing & Coding) and Pharmaceutical (Clinical trial & Contract manufacturing) Outsourcing – Global analysis & Forecasts (2011-2016)

Outsourcing is the buzzword in the healthcare industry in the U.S., the rising cost of healthcare, less availability of man power, and quality worked provided by the vendors, are some of the factors driving the outsourcing of healthcare. There are three main segments of healthcare outsourcing covered in the report i.e.; payer, provider, and pharmaceutical. The payer (healthcare insurance companies), provider (hospitals) and the pharmaceutical companies are looking at outsourcing as a viable option to be competitive in the business. Healthcare reforms introduced by Obama government are also driving the healthcare outsourcing market.

The global healthcare BPO market is growing at a healthy CAGR of 21.4%. Pharmaceutical outsourcing accounts for the largest share of 64.3%, but will grow at a CAGR of 14.6% from 2011 to 2016 since the market is saturated. Healthcare provider outsourcing has the highest growth rate of 31.9% from 2011 to 2016 due to conversion from ICD-9 coding system to ICD-10 and ICD-10 coding system to be implemented by October 2013 in the U.S. Healthcare payer outsourcing market will also grow at about 30% in the forecast period.

U.S. is the largest source of outsourcing, followed by Europe. The most preferred destination is India in payer and provider outsourcing, whereas on shoring is the most preferred option for pharmaceutical outsourcing. Philippines is an upcoming destination making its mark in payer and provider outsourcing. India has advantages when compared to the other outsourcing destinations such as has availability of high number of healthcare professionals, affordable cost of living, large patient pool, and decreased time and cost of recruitment.

The overall healthcare BPO market is highly fragmented and there are many small players trying to take their share in the pie particularly in India and China, where many entrepreneurs have entered the market to meet the growing requirements. The major players in the payer and provider outsourcing market are Accenture (Ireland), Medusind (U.S.), GeBBS Healthcare (U.S.), Omega Healthcare (India), and Inventive (U.S.). The pharmaceutical outsourcing market is captured by players such as Quintiles (U.S.), Covance (U.S.), PPD (U.S.), Parexel (U.S.), Charles Rivers Laboratories (U.S.) and ICON (Ireland) in the CRO space; while in the CMO market the major competitors are Lonza (Switzerland), Catalent (U.S.), Boehringer Ingelheim (Germany), DSM Pharma (U.S.), and Jubilant Life Sciences (India).



Additional Information

Scope of the report

This healthcare BPO market research report evaluates the global Healthcare Business Process Outsourcing Market with respect to the services market. The report analyzes geography; forecasting revenues, and trends in each of the following submarkets:

Payer
Claims processing
HR services
Member services/customer Care
Finance and accounts
Provider
Medical billing
Medical coding
Medical transcription
Finance and accounts
Pharmaceutical
Contract manufacturing organization
API manufacturing
Formulation & packaging
Clinical research organization
Drug discovery
Pre-clinical
Phase I
Phase II
Phase III
Phase IV
CDM & biostatistics
Medical writing
Regulatory
Others
Non-clinical services
SCM & logistics
Sales & marketing
Other functions

The geographies covered under the report are

Source
U.S.
Europe
ROW
Destination
India
China
Philippines
On-shore U.S.
Eastern Europe
Middle East
LATAM (Latin American)

Each section provides market data, market drivers, trends and opportunities, key players, and competitive outlook. This report also provides market tables for covering the sub-segments and micro-markets. In addition, it makes ways for company profiles that cover all the sub-segments. As such, the report leaves no stone unturned in apprising about the past, present, and future of the global healthcare BPO market.