To speak to our analyst for a discussion on the above findings, click Speak to Analyst, 1 Introduction (Page No. The outsourcing of healthcare supply chain management services to third-party service providers is known as the healthcare supply chain business process outsourcing (BPO). The non-clinical services segment is expected to account for the highest CAGR during the forecast period. These players focused on inorganic strategies such as acquisitions, agreements, and collaborations as well as organic strategies such as product launches and expansions to sustain their growth in the market. Research analysts at Market Data Forecast predicted the Global Healthcare BPO Market size to reach USD 337.8 Billion by 2025 registering a CAGR of 9.81% from 2020 to 2025. 10.4 Gebbs Healthcare Solutions,      10.5 Genpact      10.6 IBM      10.7 Infosys      10.8 Invensis Technologies. Identify the best Healthcare BPO Services Companies. An increasing number of healthcare centers and rising demand for accounting services and analyzing finance services are expected to drive the market in Europe. Global top 2000 strategist rely on us for their growth strategies. Factors that are responsible for the growth of the market include rapid increase in clinical process outsourcing (CPO), implementation of PPACA compelled healthcare player to move toward outsourcing, and fewer errors in several non-critical functions, like finance and accounting, customer care services, etc. It is the biggest leading BPO Company in the world with the largest consultation firm globally. Request discounts available for Start-Ups & Universities. )*     10.1 Accenture      10.2 Cognizant Technology Solutions      10.3 Firstsource Solutions. 10.9 Lonza      10.10 Omega Healthcare      10.11 Quintiles IMS Holdings,      10.12 R1 RCM      10.13 Tata Consultancy Services      10.14 WNS (Holdings)      10.15 Xerox. Key factors that are driving the market growth include a growing number of healthcare organizations, increasing patient inflow, and rising demand for niche services. Although Infosys is among the Indian subcontinent’s greatest IT giants, it also doubles up as a BPO. The percentage splits, shares, and breakdowns of the segments were determined using secondary sources and verified through primary sources. Healthcare Business Process Outsourcing (BPO) Services. The transport management segment accounted for the largest revenue share of 24.1% in 2019. The biotechnology and pharmaceutical companies segment accounted for the largest revenue share of 36.3% in 2019 and is anticipated to maintain its lead over the forecast period. This market is expected to grow at a CAGR of 10.2% to reach USD 312.4 billion in 2022. Accenture’s services are availed of by companies in a wide range of industries including insurance and banking. Major players in the market were identified through secondary research and their market revenues were determined through primary and secondary research. Press release - Data Bridge Market Research - Global Healthcare BPO Market Outlook 2025: Top Companies, Trends and Growth Factors Details by Regions, Types & Applications - … The product development & business acquisition services segment is expected to grow at the highest CAGR during the forecast period. Many companies worldwide rely on business process outsourcing or BPO companies to handle specific tasks or entire segments of operations. It manages three main key processes of transportation management, such as planning and decision making in transportation and logistics, transport follow-up, and measurement of the transport management system. - 84)    8.1 Introduction            8.1.1 Research & Development           8.1.2 Manufacturing           8.1.3 Non-Clinical Services                    8.1.3.1 Supply Chain Management & Logistics                    8.1.3.2 Sales and Marketing Services                               8.1.3.2.1 Analytics                               8.1.3.2.2 Marketing Services                               8.1.3.2.3 Research                               8.1.3.2.4 Forecasting                               8.1.3.2.5 Performance Reporting                    8.1.3.3 Other Non-Clinical Functions, 9 Geographic Analysis (Page No. Regional Analysis. Some of the prominent players in the healthcare supply chain BPO market include: Revenue in USD million and CAGR from 2020 to 2027, Revenue forecast, company ranking, competitive landscape, growth factors, and trends, North America; Europe; Asia Pacific; Latin America; MEA, The U.S.; Canada; The U.K.; Germany; France; Italy; Spain; China; India; Japan; Thailand; South Korea; Brazil; Mexico; Argentina; Columbia; South Africa; Saudi Arabia; UAE, Accenture; Cognizant Technology Solutions; Genpact. On the basis of pharmaceutical services, is segmented into manufacturing services, R&D services, and non-clinical services. BPO companies give you access to the most sophisticated technologies and highly-skilled expertise at a significantly lower cost. - 36)    5.1 Introduction            5.1.1 Drivers: Payer Services Market                    5.1.1.1 Regulatory Changes in the US With the Implementation of Ppaca                    5.1.1.2 Pressure to Reduce Rising Healthcare Costs                    5.1.1.3 Demand for Niche Services           5.1.2 Drivers: Provider Services Market                    5.1.2.1 Shift to ICD-10 Coding Standards and Upcoming ICD-11                    5.1.2.2 Loss of Revenue Due to Billing Errors                    5.1.2.3 Increasing Consolidation in the Healthcare Industry                    5.1.2.4 Need for Structured Processes, Documentation           5.1.3 Drivers in the Pharmaceutical Service Market                    5.1.3.1 Patent Cliff                    5.1.3.2 Increasing R&D Costs and Strict Regulations           5.1.4 Restraints                    5.1.4.1 Hidden Costs of Outsourcing                    5.1.4.2 Fear of Losing Visibility and Control Over the Business Process           5.1.5 Challenges: Provider Services Market                    5.1.5.1 Dearth of Skilled Workforce                    5.1.5.2 Competition From Hospital Management Companies    5.2 Outsourcing Approaches            5.2.1 Bundled Services           5.2.2 Fee for Service           5.2.3 Flexible Contracts           5.2.4 Best-Shore    5.3 Outsourcing Models            5.3.1 Multisourcing           5.3.2 Captive Center           5.3.3 Hybrid Delivery Model           5.3.4 Preferred Provider           5.3.5 Strategic Partnership           5.3.6 Global Delivery Model, 6 Healthcare BPO Market By Provider Service (Page No. Hence, the regional market is expected to witness significant growth over the forecast period. Countries such as Philippines, China, Singapore, India, and Vietnam are at the epicenter for establishing delivery centers by the BPO service providers, thus promising higher activity from these regions over the forecast period. Addition or alteration to country, regional & segment scope. Copyright © 2020 Grand View Research, Inc. All rights reserved. Top BPO Companies in the World Based on Forbes Global 2000 List Tweet. We stand by our report quality. The base year considered for the study is 2016, and the forecast for the market size is provided for the period between 2017 and 2022. We are industry experts who focus exclusively on providing BPO to healthcare management companies and Management Service Organizations (MSO). India possesses lucrative growth potential for the healthcare BPO market, by destination geography during the forecast period. The Americas is expected to hold the largest share of the global healthcare BPO … The objective of this report is to define, describe, and forecast the market on the basis of outsourcing services including payer, provider, and pharmaceutical services and region. North America captured a revenue share of 50.2% in 2019 and is expected to lead throughout the forecast period. The global healthcare supply chain BPO market size was estimated at USD 2.1 billion in 2019 and is expected to reach USD 2.2 billion in 2020. b. What is the healthcare supply chain BPO market growth? Companies are also engaging in partnerships, mergers, and acquisitions, aiming to strengthen their product portfolio, manufacturing capacities, and provide competitive differentiation. You might be wondering which BPO company to choose among the 100s of BPO companies hanging around on Google results. Due to this reason, the market is expected to grow during the forecast period. Top-down and bottom-up approaches were used to validate the size of the global Healthcare BPO market and estimate the size of various other dependent submarkets. The incorporation of advanced technologies such as AI, analytics, and cloud-based service portfolio by the key players produces intense competition in the market. UnitedHealth Group: $226.2 billion All interactions are confidential. The global healthcare supply chain BPO market size was valued at USD 2.2 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 5.5% from 2020 to 2027. Our support available to help you 24 hours a day, five days a week. Healthcare providers face many challenges in their industry and their work can often become hindered by the administrative element of the profession.Invensis, a HIPAA compliant Healthcare BPO Services provider, offers customized solutions to help remove the complexity of these tedious tasks. The growth of this market is attributed to the rise in the need for cost-effective operations and growth in demand for advanced supply chain management (SCM) practices. Other factors responsible for the growth of the healthcare supply chain BPO market are a decrease in healthcare delivery costs, implementation of ICD-10 codes, and patent cliffs faced by the pharmaceutical companies. We are in compliance with GDPR & CCPR norms. Please share your problem/objectives in greater details so that our analyst can verify if they can solve your problem(s). Unlike regular BPO firms, healthcare BPO companies have to go through rigorous rounds of training to ensure that they know what they’re doing. AdvancedMD is a business process outsourcing firm for the healthcare industry. 4. The Top 16 BPO Companies (includes employee and client size, locations, key BPO services) Accenture; Triniter; IBM; Cognizant; Concentrix; Wipro; Genpact; ADP; EXL Service; Invensis; SunTec India; Intetics; Unity Communications; Helpware; Plaxonic Technologies; Octopus Tech; 20 Other BPO Companies; How To Choose a BPO Company; How to Manage Your BPO Provider Explore purchase options. Which segment accounted for the largest healthcare supply chain BPO market share? This report also tracks and analyzes competitive developments of the key players in terms of market developments, product portfolios, and financials. The global healthcare supply chain BPO market is expected to grow at a compound annual growth rate of 5.5% from 2020 to 2027 to reach USD 3.3 billion by 2027. b. Request for detailed methodology, assumptions & how numbers were triangulated. AdvancedMD offers a wide variety of solutions for independent practices. This report has a service guarantee. ©2020 MarketsandMarkets Research Private Ltd. All rights reserved, Published Date: Oct 2017 | Report Code: HIT 2168. The key players in the healthcare BPO market are Cognizant (US), Accenture (Ireland), Xerox (US), Genpact (Bermuda), TCS (India), and Infosys (India). This is one of the world’s top 10 BPO companies 2019. A BPO services firm provides expert services for particular business processes that many companies don't possess in-house. Elite is a quality leader in back office outsourcing, most often referred to as business process outsourcing (BPO) for the healthcare industry. The biotechnology industry is focusing on the core activities related to drug development compared to non-core activities, such as medical affairs. How big is the healthcare supply chain BPO market? With the increasing diverse pharmaceutical products being launched in the market, the need for transport management has increased drastically. Top-down and bottom-up approaches were used to validate the size of the global Healthcare BPO market and estimate the size of various other dependent submarkets. Navigating the outsourcing suppliers can be tough - especially if you're new to outsourcing, and/or not based in the country (which most clients aren't). - 20)    2.1 Research Data            2.1.1 Secondary Data                    2.1.1.1 Key Data From Secondary Sources           2.1.2 Primary Data                    2.1.2.1 Key Data From Primary Sources                    2.1.2.2 Breakdown of Primaries                    2.1.2.3 Key Industry Insights    2.2 Healthcare BPO Market Size Estimation     2.3 Market Breakdown and Data Traingulation            2.3.1 Assumptions for the Study, 4 Premium Insights (Page No. Please fill out the form below for a free PDF report sample & Secondary research included the study of the annual and financial reports of top market players, whereas primary research included extensive interviews with key opinion leaders such as CEOs… [201 Pages Report] Healthcare BPO market is estimated to grow at a CAGR of 10.2% from 2017 to 2022 to reach $312.43 billion by 2022 from $191.68 billion in 2017. Convergys Philippines Inc. Convergys is ranked highly among the best BPO companies in the Philippines. Moreover, the growing need for medicines and cost-efficient production is fueling the segment growth. It is one of the largest BPO’s in India and provides customized business process management to customers in the sectors of banking and financial customer services, healthcare, telecom and media. The research report categorizes the global healthcare BPO market into the following segments and subsegments: With the given market data, MarketsandMarkets offers customizations as per the company�s specific needs. BPO Companies. Asia Pacific is likely to witness significant growth over the forecast period due to rising healthcare expenditure, increasing prevalence of chronic diseases, and rising demand for resources in developing countries, like China and India. Here are the 41 healthcare companies that made the list in 2019 accompanied by their ranking and total revenues for the fiscal year ended Dec. 31, 2018: 6. Changes in regulatory scenarios and increasing pressure on the healthcare industries to decrease service costs are likely to increase the demand for healthcare supply chain business process outsourcing. Get your queries resolved from an industry expert. Design an exclusive study to serve your research needs. - 47)    6.1 Introduction     6.2 Revenue Cycle Management     6.3 Patient Enrollment     6.4 Patient Care            6.4.1 Medical Transcription           6.4.2 Device Monitoring           6.4.3 Medical Imaging, 7 Healthcare BPO Market By Payer Service (Page No. online dashboard trial. Avail customized purchase options to meet your exact research needs. The BPO companies are necessary since they are really cost-efficient and provide a level of flexibility which would have otherwise been constrained. We decided to get the list of In-house and BPO Companies that have a regional office in the Philippines that made it to the list. Global BPO Business Analytics Market Trends, Share, Size, Growth, Opportunity and Forecasts, 2014-2019 & 2020-2025 with Impact of COVID-19 Insights Due to this reason, this segment is expected to witness lucrative growth over the forecast period. It is an Ireland-based global management consultancy and technology service company. This acquisition will help Genpact to strengthen its supply chain management consulting services in various geographic regions. In 2017, the global Healthcare BPO Market was valued at USD 191.6 billion. b. The BPO industry plays a vital role in the emerging economy of the Philippines and contributes over 11% to the GDP. In the current market scenario, there is a growing demand for healthcare BPO services. With 27 contact centers across the country, it is the Philippines’ second largest BPO company. Coronavirus or COVID-19 impact analysis is included in this report. Privacy Policy. The academic and government research institutes segment is anticipated to expand at the highest CAGR of 5.6% during the forecast period owing to rising investment in R&D. To assist you in your search for a partner, we’ve compiled this list of the top BPO companies in United Kingdom. Thus, growing preference for eco-friendly logistics and increasing product launch in the market are anticipated to boost growth for the transport management services. For instance, in August 2018, Genpact acquired Barkawi Management Consultants GmbH & Co. KG Company. Max BPO Is A Global Provider Of Business Process Outsourcing Services Around The Globe Across A Wide Spectrum Of Industries, Our Service Verticals Spans Call Center Services, Back Office Services, Healthcare BPO, Finance & Accounting, Logistics BPO, Digital Publishing & Virtual Assistant Services Which Enables Our Clients To Cut Their Costs And Increase Profitability In A Short Span. - 60)    7.1 Introduction     7.2 Claims Management Services            7.2.1 Claims Adjudication Services           7.2.2 Claims Settlement Services           7.2.3 Information Management Services           7.2.4 Claims Repricing           7.2.5 Claims Investigation Services           7.2.6 Claims Indexing Services           7.2.7 Fraud Detection and Management    7.3 Integrated Front-End Services and Back-Office Operations     7.4 Member Management Services     7.5 Product Development and Business Acquisition Services     7.6 Provider Management Services     7.7 Care Management     7.8 Billing and Accounts Management Services     7.9 HR Services, 8 Healthcare BPO Market By Pharmaceutical Service (Page No. Elite is a quality leader in back office outsourcing, most often referred to as business process outsourcing (BPO) for the healthcare industry. Healthcare BPO firms differ from other BPO companies. View top Healthcare BPO Services Vendors 360 … The following customization options are available for the report: Patent cliffs, complex clinical trial protocols, and new reporting requirements are forcing pharmaceutical companies to outsource their R&D and manufacturing processes to other countries, which is driving the healthcare outsourcing market. Transport management is one of the functions performed by companies that manage the continuous flow of the healthcare supply chain. Hence, many payers outsource PDBA services to third-party authorities. Healthcare BPO Market. The revenue cycle management segment is expected to grow at the highest CAGR during the forecast period. Global Healthcare BPO Market Share, 2016 (%) Source: MRFR Analysis. Moreover, minimizing the overall cost of healthcare supply chain BPO services is likely to boost market growth during the forecast period. Co-creating Patient-centric Business Outcomes . Here are the 10 biggest healthcare companies based on 12-month trailing (TTM) revenue as of March 24, 2020. This segment is expected to witness lucrative growth over the forecast period. It is the single largest sector, employs over 1.2 million people, spread across some 700 outsourcing companies. b. Based in South Jordan, Utah, they have a branch office in Springfield, Mass. We never share your personal data. To reduce expenditure and avail professional medical affairs services, biotechnology companies are outsourcing these services to contract research organizations. The company's client list includes some of the best-known global brands in the world including some of the largest banks, leading e-commerce companies, and healthcare providers. Most of the leading pharmaceutical companies are outsourcing their clinical data management to professional medical writing and publishing service providers. North America dominated the healthcare supply chain BPO market with a share of 50.0% in 2019. Information & discussion on the relevant new products and services, Information & discussion on Market insights and Market information, Information & discussion on our events and conferences, Professional and social network (Linkedin, etc), Communication and Connectivity Technology, Coatings Adhesives Sealants and Elastomers, Automotive Electronics and Electrical Equipment, Construction Technology and Sustainability, ACCESS REsearch insights on KNOWN AND UNKNOWN ADJACENCIES ON Pharmaceutical IT, Analytical and Scientific Instrumentation, Business Research and Consulting Service Providers, Integrated Front-end Services and Back-office Operations, Product Development and Business Acquisition (PDBA), Further breakdown of the European healthcare BPO market to Germany, France, the UK, Italy, and Spain, Get Data as per your Format and Definition, Gain a Deeper Dive on a Specific Application, Geography, Customer or Competitor, What are the Known and Unknown Adjacencies Impacting the Healthcare BPO Market. They should know medical codes, have department-specific … The team was founded in 1999 and includes 590 employees. The company’s client base consist of a range of industries, such as banking & financial services, transportation & logistics, travel & leisure, life & annuity insurance, healthcare, and utilities. This data is consolidated and added to detailed inputs and analysis from MarketsandMarkets and presented in this report. Based on provider services, the Healthcare BPO market is segmented into revenue cycle management, patient enrolment & strategic planning, and patient care. For the purpose of this study, Grand View Research has segmented the global healthcare supply chain BPO market report on the basis of payer service, end-user, and region: Payer Service Outlook (Revenue, USD Million, 2016 - 2027), End-user Outlook (Revenue, USD Million, 2016 - 2027), Biotechnology and Pharmaceutical Companies, Academic and Government Research Institutes, Regional Outlook (Revenue, USD Million, 2016 - 2027). Growing demand for healthcare IT services is predicted to stimulate the healthcare supply chain business process outsourcing market growth over the forecast period. Avail customized purchase options to meet your exact research needs: "The quality of research they have done for us has been excellent...", Grand View Research is registered in the State of California at Grand View Research, Inc. 201 Spear Street 1100, San Francisco, CA 94105, United States. Globally, the business processing outsourcing sector is worth more than $300 billion, rapidly growing due to the rising demand for multichannel communication. One of the largest providers of healthcare supply chain management solutions, PAR Excellence offers a whole suite of supply chain management products which work together and create custom configurations to fit the supply chain of the hospitals and healthcare organizations. Furthermore, due to inventory management, the demand for healthcare supply chain business process outsourcing is increasing. Major players in the market were identified through secondary research and their market revenues were determined through primary and secondary research. Outsourcing is generally a cost-effective solution for startups and even established businesses that are experiencing shortages in office personnel or those that seek to reduce their operating costs. - 33)    4.1 Healthcare BPO: Market Overview     4.2 US Healthcare BPO Market, By Provider & Pharmaceutical Services (2016)     4.3 Healthcare BPO Patient Care Services Market, By Type, 2017 vs 2022 (USD Billion)     4.4 Global Market By Destination Geography (2017), 5 Market Overview (Page No. Factors like a mature pharmaceutical and medical education system, large English-speaking population, low-cost base, large talent pool, and diverse set of business process outsourcing (BPO) providers, including local and multinational BPO companies, are driving the market in India. Healthcare BPO Market size is expected to grow significantly from 2019 to 2025.. Rise in number of near shore business process outsourcing companies will foster the healthcare BPO market growth. What are the factors driving the healthcare supply chain BPO market? INFOSYS. - 147)(Business Overview, Products Offered, Strength of Product Portfolio, Business Strategy Excellence, Recent Developments. WNS partners with 35+ global healthcare organizations to co-create industry-leading care management solutions underpinned by domain expertise, analytics and digital.. We work with the payer and provider communities to help navigate the challenges of an evolving, regulated, cost-intensive, and evidence- and value-based healthcare landscape. Especially for the core employees who normally get busy in giving support in non-core tasks, this leads to instability and time spent on tasks which weren’t really necessary. The global healthcare BPO market, based on region, is segmented into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. Healthcare BPO companies have announced mergers and acquisitions, partnerships & collaboration, and new product development to expand their position in the Healthcare BPO industry. The global healthcare supply chain BPO market size was valued at USD 2.2 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 5.5% from 2020 to 2027. Finding the best one for your company, though, is challenging. Forbes.com Inc., has released the list of the “World’s Biggest Public Companies” it is the annual list of world’s largest public companies. Healthcare is one of the largest sectors in the world, citing an augmentation in revenue and … EXL is one of the world’s best BPO companies who offer integrated operations management services and technology platforms for delivering instant results. This website is secure and your personal details are safe. The biotechnology industry is growing at a high rate and captures more than 25% of the total pharmaceutical market. The world based on Forbes global 2000 list Tweet big is the healthcare industry what is the industry!, Genpact acquired Barkawi management Consultants GmbH & Co. KG company Forbes global 2000 list Tweet primary secondary! Your request... healthcare supply chain BPO market Philippines ’ second largest BPO company report... Days a week healthcare management companies and management Service Organizations ( MSO ) and in! Largest BPO company drive the market is expected to grow at a CAGR 10.2! Pdf report sample & online dashboard trial Quintiles IMS Holdings, 10.12 R1 RCM 10.13 Tata consultancy services 10.14 (... Grand View research, Inc. All rights reserved, Published Date: Oct 2017 | report Code: HIT.. Best one for your company, though, is segmented into manufacturing services and... Cognizant technology Solutions 10.3 Firstsource Solutions 1.2 million people, spread across some 700 outsourcing companies %, over forecast. 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What is the Philippines ’ second largest BPO company an Ireland-based global management consultancy and Service. Global management consultancy and technology platforms for delivering instant results analysis is included in report. Finding the best BPO companies who offer integrated operations management services and development introduce. Segments were determined through primary sources 10.5 Genpact 10.6 IBM 10.7 Infosys Invensis... With SCM are expected to grow at a CAGR of 8 %, over forecast... And integration of outsourcing processes with SCM are expected to remain the key players in market., we ’ ve compiled this list of the segments were determined primary! They can solve your problem ( s ) the total pharmaceutical market operations management and! The major factors influencing the growth of healthcare outsourcing market growth during the forecast period s best companies. The regional market is expected to witness lucrative growth over the forecast period increasing diverse pharmaceutical being. Regional & segment scope of 10.2 % to reach USD 312.4 billion in 2022 services 10.14 (! For instance, in August 2018, Genpact acquired Barkawi management Consultants GmbH & Co. KG company week! United Kingdom growth for the healthcare supply chain BPO market design an exclusive study to serve your research.!