Dublin, May 30, 2022 (GLOBE NEWSWIRE) -- The "Healthcare Payer Services Market Size, Share & Trends Analysis Report by Services (BPO Services, ITO Services, KPO Services), by Application (Claims management services), by End Use, and Segment Forecasts, 2022-2030" report has been added to ResearchAndMarkets.com's offering.
The global healthcare payer services market is expected to reach USD 111.9 billion by 2030, registering a CAGR of 7.7%. The industry is anticipated to witness substantial demand for IT operations so as to allow companies to focus on their core tasks and reduce operational costs. The growing vigilance regarding data security and customer-centricity in projects, especially in the aerospace & defense and BFSI sectors, are fueling the demand for information technology services outsourcing.
The market is progressing owing to the ever-increasing demand for consultancy-related projects. The growing need for proficiency in formulating and streamlining IT strategy, enterprise architecture advisory, portfolio consulting, and ensuring effective and smooth digital transformation further boosts the industry growth. Rapid innovations, offering various benefits to different industries globally, will also support market growth. Delegation of time-consuming and tedious tasks to service providers empowers businesses to concentrate on their central functionalities and reduces the load on their internal resources. It also offers optimization of capacity, resources, and flexibility to meet the demands of the changing commercial environment, and better access to innovation and intellectual property.
Service providers are coming up with different operational and pricing models to gain a competitive edge over others. The advent of cloud computing has fueled market growth as it enables firms to automate and ease their business applications and processes. Hence, enterprises, especially Small & Medium Businesses (SMBs), are largely deploying the Software as a Service (SaaS) model and the Infrastructure as a Service (IaaS) model, which has compelled the service providers to capitalize on the cloud-based offerings.
The COVID-19 pandemic has impacted the healthcare payer services market significantly. The market is doing well financially as compared to other sectors due to a rise in demand for medical care. However, the coming years for the economics of the market are full of threats. However, the payers are doing their part in this pandemic by providing support to providers, helping in the management and delivery of COVID-19 related supplies to multiple care providers, and also creating web portals that provide relevant and rapid information related to COVID-19.
Healthcare Payer Services Market Report Highlights
- ITO services dominated the market with a share of 51.1% in 2021, owing to the rise in the use of innovative and advanced technology in healthcare.
- The claims management services segment held a major market share of 29.9% in 2021, due to increasing healthcare expenditure and other factors that are driving the number of people enrolled in Medicare and Medicaid Services.
- The public payers are projected to exhibit the fastest growth of 7.7% during the forecast period. This can be due to the increasing presence of international health insurance acts such as ACA, HIPAA, and ICD-10.
Key Topics Covered:
Chapter 1 Methodology and Scope
Chapter 2 Executive Summary
2.1 Market Outlook
2.2 Segment Outlook
2.3 Competitive Insights
Chapter 3 Healthcare Payer Services Market: Variables, Trends & Scope
3.1 Market Lineage Outlook
3.1.1 Parent Market Outlook
3.1.2 Ancillary Market Outlook
3.2 Penetration & Growth Prospect Mapping
3.3 Market Variable Analysis
3.3.1 Market Driver Analysis
3.3.1.1 Presence Of Various Healthcare Policies
3.3.1.2 Growing Disease Burden
3.3.1.3 Increasing Adoption Of Health Insurance Policies
3.3.2 Market Restraint Analysis
3.3.2.3 Increasing Legal and Regulatory Constraints For Offshore Outsourcing
3.4 Healthcare Payer Services Market: Analysis Tools
3.4.1 Porter's Five Forces Analysis
3.4.2 PESTEL Analysis
3.4.3 Major Deals & Strategic Alliances Analysis
3.4.3.1 Mergers and Acquisitions
3.4.3.2 Expansions
3.4.3.3 Agreement & Collaborations
3.4.3.4 Product & Service Launches
3.4.4 Market Entry Strategies
Chapter 4 Healthcare Payer Services Market: Service Segment Analysis
4.1 Healthcare Payer Services Market: Definition & Scope
4.2 Healthcare Payer Services Market: Market Share Analysis, 2021 & 2030
4.3 BPO Services
4.3.1 BPO Services Market, 2018-2030 (USD Billion)
4.4 ITO Services
4.4.1 ITO Services Market, 2018-2030 (USD Billion)
4.5 KPO Services
4.5.1 KPO Services Market, 2018-2030 (USD Billion)
Chapter 5 Healthcare Payer Services Market: Application Segment Analysis
5.1 Healthcare Payer Services Market: Definition & Scope
5.2 Healthcare Payer Services Market: Market Share Analysis, 2021 & 2030
5.3 Claims management services
5.3.1 Claims management services Market, 2018-2030 (USD Billion)
5.4 Integrated front office service and back office operations
5.4.1 Integrated front office service and back office operations Market, 2018-2030 (USD Billion)
5.5 Member management services
5.5.1 Member management services Market, 2018-2030 (USD Billion)
5.6 Provider management services
5.6.1 Provider management services Market, 2018-2030 (USD Billion)
5.7 Billing and accounts management services
5.7.1 Billing and accounts management services Market, 2018-2030 (USD Billion)
5.8 Analytics and fraud management services
5.8.1 Analytics and fraud management services Market, 2018-2030 (USD Billion)
5.9 HR Services
5.9.1 HR Services Market, 2018-2030 (USD Billion)
Chapter 6 Healthcare Payer Services Market: End-use Segment Analysis
6.1 Healthcare Payer Services Market: Definition & Scope
6.2 Healthcare Payer Services Market: Market Share Analysis, 2021 & 2030
6.3 Private Payers
6.3.1 Private Payers Market, 2018-2030 (USD Billion)
6.4 Public Payers
6.4.1 Public Payers Market, 2018-2030 (USD Billion)
Chapter 7 Healthcare Payer Services Market: Regional Analysis
Chapter 8 Company Profiles
8.1.1 Cognizant
8.1.1.1 Company Overview
8.1.1.2 Financial Performance
8.1.1.3 Product Benchmarking
8.1.1.4 Strategic Initiatives
8.1.2 EXL
8.1.2.1 Company Overview
8.1.2.2 Financial Performance
8.1.2.3 Product Benchmarking
8.1.2.4 Strategic Initiatives
8.1.3 HGS Limited (Hinduja Global Solutions Limited)
8.1.3.1 Company Overview
8.1.3.2 Financial Performance
8.1.3.3 Product Benchmarking
8.1.3.4 Strategic Initiatives
8.1.4 Accenture
8.1.4.1 Company Overview
8.1.4.2 Financial Performance
8.1.4.3 Product Benchmarking
8.1.4.4 Strategic Initiatives
8.1.5 Xerox Corporation
8.1.8.1 Company Overview
8.1.8.2 Financial Performance
8.1.8.3 Product Benchmarking
8.1.8.4 Strategic Initiatives
8.1.6 Concentrix Corporation
8.1.8.1 Company Overview
8.1.8.2 Financial Performance
8.1.8.3 Product Benchmarking
8.1.8.4 Strategic Initiatives
8.1.7 Genpact
8.1.8.1 Company Overview
8.1.8.2 Financial Performance
8.1.8.3 Product Benchmarking
8.1.8.4 Strategic Initiatives
8.1.8 Wipro Limited
8.1.8.1 Company Overview
8.1.8.2 Financial Performance
8.1.8.3 Product Benchmarking
8.1.9 HCL Technologies Limited
8.1.9.1 Company Overview
8.1.9.2 Financial Performance
8.1.9.3 Product Benchmarking
8.1.9.4 Strategic Initiatives
For more information about this report visit https://www.researchandmarkets.com/r/mpvx21
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