Precision Business Insights published a research report on "North America Healthcare BPO Market Provider Services (Medical Billing, Medical Coding, Medical Transcription, Finance & Account), By Payer Services ((Claims Management (Claims Adjudication. Claims Settlement, Information Management, Claims Repricing, Claims Investigation, Claims Indexing, Litigation Management), Integrated Front-end Services and Back-office Operations, Member Management, Provider Management, Billing and Accounts Management, Analytics and Fraud Management, HR), Pharmaceutical Service (Research and Development, Manufacturing, Non-clinical Services, Supply Chain Management (SCM) and Logistics, Sales and Marketing, (Performance Reporting (Forecasting, Research, Analytics, Marketing), (Other Non-clinical Functions (Finance and Accounts, HR, IT)), By End users (Hospital, Dental Clinics, Public Service, Others), Geography - Global/Region/Country Forecast to 2028"
Healthcare Business Process Outsourcing (BPO) is a method that allows healthcare organizations to choose the best third-party contractors for certain business operations. As result, hospitals and medical personnel must devote more of their time to patient care. It is a solution for clients that are willing to adopt clever methods that benefit the business by lowering costs and boosting economic output. Medicare services, pharmacy benefits administration, and provider network services are all available through the Healthcare BPO Market.
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A few major reasons driving the North American Healthcare BPO Market include a lack of in-house educated personnel for certain procedures, cost-effective labor availability, and a lack of industry expertise. The urgency to lower healthcare delivery costs, the rising number of people trying to seek insurance, pharmaceutical industry facing patent ledges, healthcare system integration and mandatory deployment of ICD-10 codes, and lower costs of production in developing nations are all major drivers for the North American Healthcare BPO Market. Moreover, with current trends in Healthcare BPO, customers face issues related to data reliability and security, increasing legal compliance, and handling massive amounts of health information. Despair of losing control over the outsourced process, the possibility of decreased service/product quality, and the vulnerability of data security are all factors that must be considered to stop the growth of North American Healthcare BPO.
The North America Healthcare BPO Market is fragmented in terms of Provider Services, Pharmaceutical Services, Payer Services, End users, and Geographical Regions. In terms of Provider Services, The North America Market is categorized into Medical Coding, Medical Billing, Finance & Accounts, and Medical Transcription. On the basis of Payer Services, The North America Market is classified as Integrated Front-end Services and Back-office Operations, Provider Management, Member Management, Billing and Accounts Management, HR, Analytics and Fraud Management, and Claims Management which is further divided Claims Adjudication which is further segregated into Information Management, Claims Settlement, Claims Investigation, Claims Repricing, Claims Indexing, and Litigation Management. By Pharmaceutical Service, North America Market is fragmented as Research and Development, Non-clinical Services, Manufacturing, and Other Non-clinical Functions. On the basis of End users, The North America Market is divided as Dental Clinics, Hospital, Public Service, and Others.
The Canada and US are the two countries that make up the North American Healthcare Biometrics Market. The United States dominates the North American healthcare BPO market. The majority of market participants are heavily invested in the introduction of new goods and technology to the market. In the North American healthcare BPO market, the United States is the market leader. The key drivers that have fueled the expansion of the North American Healthcare BPO Market include an ever-increasing regulatory structure, pressure on healthcare organizations to save costs, and emerging trends in healthcare IT, cloud computing and big data.
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There are several industry players working in the north america healthcare bpo market, which include Eli Global (USA), Genpact Limited (USA), IBM Corporation (USA), Parexel (USA), QuintilesIMS Inc. (USA), Sutherland (US), Truven Health Analytics (USA), Cognizant Technology Solutions Corporation (USA), Xerox Corporation (USA), Accretive Health, Inc.(USA)
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