United States Healthcare BPO Market Report and Forecast 2024-2032

United States Healthcare BPO Market Report and Forecast 2024-2032

United States Healthcare BPO Market Report and Forecast 2024-2032

Market Outlook

According to the report by Expert Market Research (EMR), the United States healthcare BPO market size reached a value of USD 152.33 billion in 2023. Aided by the burgeoning demand for streamlined healthcare services, technological advancements, and the pressing need for cost reduction in healthcare administration, the market is projected to further grow at a CAGR of 8.0% between 2024 and 2032 to reach a value of USD 307.61 billion by 2032.

The healthcare BPO sector in the United States encompasses a wide array of services including, but not limited to, medical billing and coding, patient enrollment and strategic planning, claims processing management, and healthcare provider network management. These services are crucial for the operational efficiency of healthcare institutions, enabling them to focus more on patient care and less on administrative tasks.

As per the United States healthcare BPO market analysis, the continuous evolution of healthcare IT solutions and the integration of artificial intelligence and machine learning technologies have revolutionised the way healthcare BPO services are delivered, enhancing accuracy and efficiency. Furthermore, the rising pressure on healthcare providers to reduce operational costs without compromising the quality of care has significantly driven the adoption of BPO services.

As per the United States healthcare BPO market outlook, the Healthcare Information Management Systems Society (HIMSS) emphasises the critical role of regulatory compliance in healthcare operations, which has further fuelled the demand for specialised healthcare BPO services capable of navigating the complex landscape of healthcare regulations and policies. The COVID-19 pandemic also underscored the necessity for flexibility and adaptability in healthcare operations, highlighting the benefits of outsourcing as a means to manage unforeseen challenges effectively. This realisation has spurred a renewed interest in healthcare BPO solutions, as healthcare providers seek to build more resilient and agile operational frameworks.

The healthcare BPO market in the United States is witnessing several trends and innovations that are shaping its future trajectory. One notable trend is the increasing focus on patient-centric services, which necessitates a seamless integration of BPO services into healthcare delivery to ensure a positive patient experience. Moreover, the growing importance of data security and privacy in healthcare has led to the emergence of BPO providers offering specialized services in compliance with the Health Insurance Portability and Accountability Act (HIPAA) and other regulatory standards.

The rise of telehealth and remote patient monitoring services has also been one of the most notable trends, accelerated by the COVID-19 pandemic, which contributes to the United States healthcare BPO market share. Healthcare BPO providers are increasingly involved in supporting these services, from managing patient data to ensuring seamless communication between patients and healthcare providers. This trend is facilitating a more proactive approach to patient care, allowing for continuous monitoring and early intervention without the need for physical office visits.

There is a growing emphasis on leveraging data analytics in healthcare to improve patient outcomes, optimise operations, and reduce costs, which further supports the United States healthcare BPO market growth. Healthcare BPO providers are utilising advanced analytics to help healthcare organisations derive actionable insights from their vast data repositories, including patient records, treatment outcomes, and operational efficiency metrics.

Technological innovations, particularly in the realm of digital health and telemedicine, are opening new avenues for healthcare BPO services. These advancements enable the provision of remote patient monitoring, virtual healthcare assistance, and digital patient engagement strategies, further broadening the scope of the market.

With the healthcare sector being highly regulated, there is a continuous emphasis on maintaining compliance with regulations such as HIPAA in the USA. Healthcare BPO providers are increasingly offering specialised services that help healthcare organisations navigate these regulatory landscapes, ensuring that patient data is handled securely and in compliance with all relevant laws and standards, boosting the United States healthcare BPO market expansion.

Market Segmentation

The market can be divided based on payer service, pharmaceutical service, provider service, and region.

Market Breakup by Payer Service

• Claims Management
• Customer Relationship Management (CRM)
• Operational/Administrative Management
• Care Management
• Human Resource Management
• Provider Management
• Others

Market Breakup by Pharmaceutical Service

• Research and Development
• Manufacturing
• Non-clinical Services

Market Breakup by Provider Service

• Patient Enrollment and Strategic Planning
• Patient Care Service
• Revenue Cycle Management

Market Breakup by Region

• New England
• Mideast
• Great Lakes
• Plains
• Southeast
• Southwest
• Rocky Mountain
• Far West

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the United States healthcare BPO market. Some of the major players explored in the report by Expert Market Research are as follows:

• Accenture Plc
• Cognizant Technology Solutions Corporation
• Genpact Plc
• Wipro Limited
• IQVIA Inc.
• Infosys Limited
• Sutherland Global Services, Inc.
• Access Healthcare
• Global Virtuoso, Inc.
• Flatworld Solutions Inc.
• Others

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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report. Show more