Asia Pacific Healthcare BPO Market Overview:
Healthcare BPO is a process in which health care companies hire the most appropriate third-party providers for a specific commercial medical care process. BPO health services improve resources allocation, improve financial performance and increase the efficiency of health care suppliers. Healthcare BPO provides services in various operations such as medical and medical coding billing and amplification; medical collection, indexing medical records, medical claims processing, medicine data entry and other processes.
Asia Pacific Healthcare BPO Market Size:
According to Market Data Forecast, The Asia Pacific Healthcare BPO Market size was around USD 29.61 billion in 2018. It is expected to grow at a CAGR of 12.82% to reach USD 54.13 billion by 2023.
Drivers and Restraints:
The driving factors for Global Healthcare BPO market are Technological advancement in Medical industry, rising geriatric population, increasing number of healthcare services, rising Prevalence of chronic diseases, increasing patient inflow, growing need of medical aspects like Minimizing critical mistakes, cost saving, number of recovery audits and growing demand for Delivering better services and increasing healthcare expenditure are propel the growth rate for Healthcare BPO globally. However, errors in healthcare records and bills, data privacy concerns and service reliability are the affecting the growth rate for healthcare BPO market.
The Asia Pacific Healthcare BPO market has geographically segmented into China, India, Japan, South Korea, and Australia. Among these, China holds the largest share, while India is expected to show highest growth rate in the coming years.
Major companies in the market are Infosys BPO Ltd., Cognizant Technology Solutions Corporation, Genpact Limited, Xerox Corporation, Tata Consultancy Services Ltd. and Accenture PLC.
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