Healthcare Payer BPO Market Size, Share, Growth, Trends and Forecast Report, 2012 to 2022
Global healthcare payer BPO market size was valued at USD 15,084.6 million in 2014 and is expected to grow at CAGR of over 10% over the forecast period.
(firmenpresse) - Global healthcare payer BPO market is expected to reach over USD 34.2 billion by 2022 according to a new report by Grand View Research Inc. Key drivers attributing to the growth are ObamaCare, shift to ICD-10 coding system, growing geriatric population, increasing disease burden and penetration of insurance coverage in emerging economies.
In 2013, as per estimates published by the Americaot able to reap the benefits of such expenditure due to process inefficiencies and use of redundant systems. The estimated loss due to such inefficiencies is nearly 800 billion or approximately 20 to 30 percent of the overall expenditure.
Increasing healthcare expenditure is a major concern for the U.S. and all the other major economies. In order to reduce the economic burden and provide universal access to healthcare, governments are encouraging outsourcing of payer services to onshore or offshore locations.
The shift from ICD-9 coding system to ICD-10 coding has created huge work load for the payers to upgrade their systems, train their staff and has significantly increased the financial burden. The ICD-9 code system had 13,000 codes, whereas the ICD-10 code system has nearly 68,000 codes.
This shift from the legacy system to the latest system has significantly increased the need for medical coding, accounting, HR, and other technical professionals, thereby is expected to positively reinforce the healthcare payer BPO outsourcing market growth in the next seven years.
Further key findings from the study suggest:
rough the marketplace and nearly 11.7 million people were enrolled in 2015.
ch as Pradhan Mantri Suraksha Bima Yojana and Pradhan Mantri Jeevan Jyoti Bima Yojana, are expected to benefit millions of people seeking life insurance and personal accident coverage and as consequence is expected to contribute to the healthcare payer BPO market expansion over the forecast period.
and service delivery portfolio, and presence of large customer base in the U.S and European markets.
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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, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
Sherry James
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Grand View Research, Inc
Phone: 1-415- 349-0058
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Datum: 17.09.2019 - 09:03 Uhr
Sprache: Deutsch
News-ID 1552291
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Typ of Press Release: Financial
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Date of sending: 17.09.2019
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