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(MoneyNewsWire.Net, September 06, 2017 ) The Asia Pacific Healthcare BPO Market is estimated at USD 24.56 Billion and is poised to reach USD 44.90 Billion by 2020, growing at a CAGR of 12.82% during the forecast period. The healthcare market in developing countries, is large and growing. Yet despite positive growth trends in these regions, the market is pressured to improve service quality and reduce costs. In these circumstances, healthcare organizations have been restricted to fundamentally overhaul the means through which they consume and deliver their core service offerings. Asia Pacific is an immature market for BPO services. No one provider dominates every type of BPO service, and very few BPO providers can successfully demonstrate true regional or Pan- Asia Pacific BPO capabilities for multiple processes.
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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 Asia-Pacific 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 Asia-Pacific Healthcare BPO market.
The Asia Pacific 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. And on the basis of Pharmaceutical service the market is discussed under Manufacturing, R&D and Non-Clinical Functions.
Furthermore, on the basis of geography the Asia-Pacific healthcare BPO market is analysed under India, China, Japan, Australia, Philippines, and Vietnam. Among these, China holds the largest share, while India is expected to show highest growth rate in the coming years.
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The Asia Pacific BPO market is still relatively underdeveloped and under exploited when compared with other markets or regions. Some of the major companies operating in the Asia-Pacific Healthcare Business Process Outsourcing market are Infosys BPO Ltd., Cognizant Technology Solutions Corporation, Genpact Limited, Xerox Corporation. Tata Consultancy Services Ltd. and Accenture PLC.
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