Luton, Bedfordshire, United Kingdom, Oct. 18, 2022 (GLOBE NEWSWIRE) -- Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Healthcare Payer Services Market.
The global healthcare payer services market is expected to grow at 10% CAGR from 2022 to 2029. It is expected to reach above 49.75 billion by 2029 from USD 21.1 billion in 2020.
Analyst View:
The healthcare payer services market is expected to expand due to an increase in the number of healthcare payer service providers and increased cost cutting pressures. When compared to in-house payer services, the cost of outsourcing healthcare payer services is lower. With increasing technological advancement and adoption of analytics in healthcare, as well as an increasing number of people opting for healthcare insurance, the customer base is growing on a daily basis. This is likely to drive market growth during the forecast period. However, factors such as the rising incidence of cyber theft, which results in the loss of confidential data, and the hidden costs associated with outsourcing are expected to stifle the growth of the healthcare payer service market during the forecast period.
Furthermore, significant losses incurred as a result of an increase in healthcare frauds boost demand for healthcare payer solutions, contributing to the global market growth. Furthermore, there has been a significant increase in health insurance enrolment, which has a positive impact on market growth. Furthermore, the growth of the healthcare payer solution market is fueled by an increase in the use of healthcare IT solutions and the implementation of various healthcare reforms.
In contrast, potential growth opportunities offered by emerging economies, as well as an increase in AI and analytics adoption, are expected to provide lucrative opportunities for the healthcare payer solution market growth over the forecast period.
The market growth is expected to be hampered by an increase in data breaches and loss of confidentiality, as well as cultural and language barriers.
Companies Mentioned -> IMAT Solutions, Icertis, Cognizant Technical Solutions, Concentrix Corporation, Accenture PLC, HCL Technologies Ltd, Xerox Corporation, Wipro Ltd, Hinduja Global Solutions Ltd, Exlservice Holdings Inc, Teleperformance Group, Sutherland Global Services.
[Exclusive 120 Pages Report] For more In-Depth Data on Healthcare Payer Services Market, download this Pdf->
https://exactitudeconsultancy.com/reports/11141/healthcare-payer-services-market/#request-a-sample
Recent Developments->
In March 2022, IMAT Solutions, one of the leaders in real time healthcare data management and population health reporting solutions, launched a new offering that tackles the collection, aggregation, dissemination, and reporting of healthcare data. Payers, statewide organizations, and Health Information Exchanges will benefit from its new clustering and SaaS based solutions, as well as the company new Data Aggregator Validation (DAV) designation from the National Committee for Quality Assurance (NCQA).
In March 2022, Icertis launched Icertis Contract Intelligence (ICI) for Healthcare Providers. A contract lifecycle management (CLM) solution helps healthcare providers accelerate digital transformation by modernizing complex agreements such as payer, supplier, and contract services.
Healthcare Payer Services Market Share Insights-> North America (40%) accounts for the largest share of the global Healthcare Payer Services Market due to significant presence of key market players in the region.
Market Segmentation Summary
The global healthcare payer solution market is divided into four segments: service, application, end user, and region. The market is divided into three segments based on service: business process outsourcing (BPO), information technology outsourcing (ITO), and knowledge process outsourcing (KPO). The study covers pharmacy audit and analysis systems, claims management services, fraud management services, computer assisted coding (CAC) systems, member eligibility management services, provider network management services, payment management services, customer relationship management services, medical document management services, and general ledger & payroll management. The market is divided into private and public end users based on end user.
Healthcare Payer Services Market Scope: Discount on report
| Healthcare Payer Services Market | Segmentation | |||
| Market Indicators: | Details | by Services |
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| Historical Data: | 2017-2021 | by Application |
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| Forecast Period: | 2022-2029 | by End-User |
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| Base Year: | 2020 | by Region |
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Learn about the contribution of each segment summarized in concise info graphics and thorough descriptions. View a FREE PDF Sample Report
Regional Share Analysis->
North America dominated the market due to the presence of key players that offer healthcare payer solutions in the region, as well as the high demand for healthcare payer solutions. However, Asia Pacific is expected to grow at the fastest rate during the forecast period, owing to increased adoption of healthcare IT solutions and the presence of a large uninsured population base, providing significant opportunities for market growth. Furthermore, emerging economies offer lucrative business opportunities for providers of healthcare payer solutions.
See more on the report at: (120 Pages) on Healthcare Payer Services Market:
https://exactitudeconsultancy.com/reports/11141/healthcare-payer-services-market
Some Important Points Answered in this Market Report Are Given Below:
- Outline of product portfolio including product development, planning and positioning
- Details key operational strategies focusing on R&D strategies, corporate structures, localization strategies, manufacturing capabilities, and financial performance of various companies.
- Detailed analysis of market returns over the forecast period.
- Examine different market prospects using Porter's Five Forces Analysis, PEST and SWOT analysis.
- Study of the segment expected to dominate the market.
- A study on analysis of regions projected to register the highest growth during the forecast period
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