Healthcare Payer Services Market Expected to Reach USD 66.3 Billion by 2030: Verified Market Research®
Verified Market Research® provides a comprehensive analysis of the market share, market ranking analysis, product benchmarking, and SWOT analysis of these key players. The report also provides an in-depth analysis of the global Healthcare Payer Services Market, including its growth prospects, market trends, and market challenges.
JERSEY CITY, N.J., March 27, 2023 /PRNewswire/ -- The global Healthcare Payer Services Market is projected to grow at a CAGR of 12% from 2023 to 2030, according to a new report published by Verified Market Research®. The report reveals that the market was valued at USD 22.1 Billion in 2021 and is expected to reach USD 66.3 Billion by the end of the forecast period.
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Browse in-depth TOC on "Healthcare Payer Services Market"
202 - Pages
126 – Tables
37 – Figures
Healthcare Payer Services Market Poised for Robust Growth Driven by Digital Technologies and Consumerism
The Healthcare Payer Services Market is anticipated to grow at a compound annual growth rate (CAGR) of 12%, fueled by factors such as the growing implementation of digital technologies in payer operations, rising demand for consumerism, and the upsurge in mergers and acquisitions. These findings were revealed in a new market research report published by Verified Market Research®.
The report identified the growing involvement of a wider population to drive effectiveness and efficiency across business processes as another crucial factor that will propel market growth over the forecast period. It also noted that the rising incorporation of secure cloud infrastructure and the growing usage of updated software and applications to address emerging and current needs of the Healthcare Payer Services industry are among the main drivers of market growth.
Healthcare Payer Services are services outsourced by healthcare insurance payers and providers to overcome obstacles such as competition, cost-cutting, and customer communication. The report highlighted that the cost of outsourcing healthcare payer services is less compared to in-house payer services, leading to more healthcare payers outsourcing this service to healthcare payer service providers.
The report identified key players in the Healthcare Payer Services Market as Cognizant Technology Solutions (U.S.), Accenture plc (Ireland), Concentrix Corporation (U.S.), Exl Service Holdings, Inc. (U.S.), Xerox Corporation (U.S.), (Ireland), Genpact Limited (U.S.), Hewlett-Packard (U.S.), Hexaware Technologies Limited (India), First Source Solutions Limited (India), HCL Technologies Ltd. (India), Teleperformance Group (France), Hinduja Global Solutions Ltd. (India), SourceHOV (India), Sutherland Global Services (U.S.), and Wipro Limited (India).
The report provides comprehensive insights into the Healthcare Payer Services Market, including product benchmarking and SWOT analysis, key development strategies, market share, and market ranking analysis of the key players. However, the report also noted that the rising incidence of cyber theft, i.e., loss of confidential data, and hidden costs associated with outsourcing could hinder the growth of the Healthcare Payer Services Market during the forecast period.
The Healthcare Payer Services Market is poised for robust growth in the coming years, driven by the increasing demand for consumerism and the adoption of digital technologies in payer operations. Our report provides detailed insights into the market trends, drivers, restraints, and opportunities, along with a comprehensive analysis of the key players in the Healthcare Payer Services Market."
Based on the research, Verified Market Research® has segmented the global Healthcare Payer Services Market into Service Type, Application, And Geography.
- Healthcare Payer Services Market, by Service Type
- BPO Services
- ITO Services
- KPO Services
- Healthcare Payer Services Market, by Application
- Claims Management Services
- Integrated Front Office Service and Back-Office Operations
- Member Management Services
- Provider Management Services
- Billing and Accounts Management Services
- Analytics and Fraud Management Services
- Hr Services
- Healthcare Payer Services Market, by Geography
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- Latin America
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