MarketsandMarkets: Global Healthcare BPO Market worth $330 Billion by 2016
DALLAS, January 5, 2012 /PRNewswire/ –
The “Healthcare BPO Market – Payer (Claims processing), Provider (Medical Billing &
Coding) and Pharmaceutical (Clinical trial & Contract manufacturing) Outsourcing – Global
analysis & Forecasts (2011-2016)” analyzes and studies the major market drivers,
restraints, and opportunities in regions such as U.S., Eastern Europe, Asia, and Rest of
Browse market data tables and in-depth TOC on “Healthcare BPO Market – Payer (Claims
processing), Provider (Medical Billing & Coding) and Pharmaceutical (Clinical trial &
Contract manufacturing) Outsourcing -Global analysis & Forecasts (2011-2016)”.
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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 and accounts for 15.7% to the total market.
The healthcare payer outsourcing market will also grow at about 30% in the forecast
period; it contributes 20% to the total market.
Claims processing, is one of the costly functions of the payer industry, has the
highest share in the healthcare payer outsourcing market, accounting for 59%, followed by
member services/customer care services. The payer in U.S. were using 30 cent of the
premium dollar paid on administrative cost, but due to the Health Insurance Portability
and Accountability (HIPAA) act, the payer has to spend 80%-85% on improving the services
and providing quality healthcare. This is forcing the payer to cut the administrative
costs, while outsourcing is the best solution available to reduce cost and maintain the
In the year 2009, the payer industry in U.S. comprised of 1,300 health insurance
companies. This represents a huge market for outsourcing which is yet to be tapped as only
10% of the work is outsourced currently.
Insurance companies have traditionally been among the slowest adopters of
outsourcing/off shoring services. But the recent situation of shrinking margins, higher
claims disbursement and increasing competition, has forced many insurance companies to
look at outsourcing to improve efficiencies and align resources towards the core functions
of product development and innovation.
The major players in the payer and provider of healthcare BPO 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).
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