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(MoneyNewsWire.Net, September 04, 2017 ) The Europe Healthcare BPO market is estimated at USD 40.36 Billion and is poised to reach USD 63.70 Billion by 2020, growing at a CAGR of 9.56% during the forecast period. Although, healthcare represents only 5-10% of the total BPO deals in the market which is the relatively low compared to other industries, such as financial services, banking and manufacturing, the potential for growth is high due to the demand for quality care.
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Increasing number of people seeking insurance, pressure to cut healthcare delivery costs, consolidation of healthcare system, pharmaceutical companies facing patent cliffs, along with the mandatory implementation of ICD-10 codes are the major factors fuelling the North America Healthcare BPO market.
However, concerns in losing control over the outsourced process, doubts regarding service/product quality, and threat to data security are factors limiting the growth of North America Healthcare BPO market. The Europe healthcare BPO market is segmented on the basis of provider, payer and pharmaceutical services. Under provider service, the market is segmented into Medical Billing, Medical Transcription, Medical Coding and Finance & Accounts services.
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On the basis of Payer, the services market is classified into Claims management, Integrated Front-end Services and Back-office Operations, Member Management, Billing and Accounts Management, Provider Management, Analytics and Fraud Management and Human Resource. Claims processing, Member management and provider management are the most frequently needed processes by the payers.
Further, on the basis of Pharmaceutical service the market is discussed under Manufacturing, Research and Development, and Non-Clinical Functions.
Furthermore, on the basis of geography the Europe healthcare BPO market is analysed under U.K, Spain, Germany, France, Italy and Rest of Europe regions. Among these, United Kingdom holds the largest share, while Germany is expected to have highest growth rate in the coming years.
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Some of the major companies operating in the Europe Healthcare Business Process Outsourcing market are Infosys BPO Ltd., Genpact Limited, Cognizant Technology Solutions Corporation, Xerox Corporation. Tata Consultancy Services Ltd. and Accenture PLC.
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