Frequently Asked Questions
The global healthcare BPO market was valued at USD 297458.5 Million in 2022.
The healthcare BPO market is expected to grow at a CAGR of 10.1% between 2023 and 2030, reaching USD 642280.8 Million in 2030.
Medical billing and coding are the leading segment by service type, holding over 30% share in value in 2022.
The healthcare analytics BPO segment governs the global demand for healthcare BPO, holding a massive share of over 32% in 2022.
The health insurance companies segment will post the highest CAGR over the projection period.
With more than one-third of the market in 2022, North America is driving the expansion of the healthcare BPO industry.
The top players include Genpact Ltd, Tata Consultancy Services Ltd, Accenture, Infosys BPM Limited, Wipro, Invensis Technologies Pvt Ltd, R1 RCM Inc, Cognizant, GeBBS Healthcare Solutions, IQVIA, and Others.
The major market drivers of the healthcare BPO industry are the need for healthcare providers to reduce operational costs, the increasing complexity of healthcare processes, the demand for specialized expertise, and the rapid adoption of healthcare technology.
The major market restraints of the healthcare BPO industry are concerns related to data security and privacy, quality and accuracy challenges in outsourced processes, and the strict regulatory environment, such as HIPAA compliance requirements.
The major market opportunities of the healthcare BPO industry encompass the rising demands for telehealth support and virtual services, as well as the expansion of clinical research and pharmaceutical outsourcing services, driven by the need for efficient drug development and the adoption of telemedicine.