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Vigorously changing reforms for healthcare such as technological advancements, rising healthcare expenditure are convincing payers to re-design their business models and processes for sustainable operational excellence while certifying excellent quality patient care. These payers’ solutions enable you to maximize customer service and derive operational excellence for the healthy patient experience and relationship. Healthcare payers are adopting several outsourcing services to simplify their business process and to deliver better services to its customers. With the help of outsourcing it become successful business model that diminish the burden of logistics, accounting, procurement, administration and other tasks so as to develop a cost-effective business processes. OBRC analysis estimates global healthcare payer service market to grow at a CAGR of 12.2% during the forecast period 2016-2023. The global healthcare payer services market is majorly driven by dynamic nature of health plan designs, rising healthcare frauds, in-house shortage of skilled personnel and federal mandates in US increasing payer workload and outsourcing. A cost effective solution for healthcare payers are global healthcare payer services market across the globe. The key restraining factor for healthcare payer services markets are loss of managerial control, unforeseen costs associated with outsourcing and rising incidences of data breaches and loss of confidentiality. Major opportunities of healthcare payer services market are service portfolio expansion, and advanced data analytics. All these factors helps to drive the healthcare payer service market across the globe.
The key driver which drives the global healthcare payer services market is rising or increasing healthcare frauds. As per the Coalition against Insurance Fraud Organization, in year 2015 scams against private and government healthcare insurers form by the largest type of insurance fraud. According to the Coalition against Insurance Fraud Organization, healthcare frauds are likely to steal approx. $10 billion per year. In year 2015, approx. 478 healthcare frauds are reported which directly generates the need for the healthcare payer services across the globe which drives the global healthcare payer services market.
Source: OBRC analysis
The report on global healthcare payer services market is classified on the basis of service type, applications and end users.
Service types are classified further into:
Applications within market are bifurcated into:
End-User segment is further sub-segmented as:
The revenue for the above application and end-user segments are specific to the healthcare payer services market. However, the total revenue of these application and end-user in general has been excluded from the scope of the report.
The global healthcare payer services market has been geographically segmented into:
North America and Europe dominates healthcare payer services market for the forecasted period of 2016-2023 in terms of revenue. Lack of low-cost skilled professionals, rising demand for integrated healthcare system and rising insurance enrollment are the key driving factors in this region. Asia Pacific is the fastest growing region in healthcare payer services market as Asian region such as India, China, Vietnam, Singapore, Malaysia, Philippines are predominately involved in outsourcing activities. The key driving factor in Asia –Pacific is existence of skilled workers to provide high-end process services is assumed to be dominating factor of growth in this region.
Some of the leading market players within global healthcare payer services market are:
Merger & acquisition, partnership, collaboration and product launch are some of the strategies used by companies within global healthcare payer services market. Of these, collaboration, and merger & acquisition are primary strategies adopted by companies for increasing their market share.
For example: on July 26, 2017 Accenture collaborated with Roche to improve how diabetes care is managed and delivered through the development of data-driven analytics platform for Roche’s digital diabetes ecosystem. The platform connects patients and healthcare providers with the suite of new digital health services.
For example: June 20,2017 HCL Technologies(HCL), launches its Next Generation Research Platform(NGRP), a pre-competitive drug-discovery ecosystem built with open standards. This platform will provide and enable ability to mine research data so as to make scientific decisions, by improving productivity by automating and eliminating manual administrative tasks and greater computational resources.
Company profiling showcased within global healthcare payers services market offers detailed analysis on company’s product portfolio, strategic initiatives, competitive landscape, market share and SCOT analysis.
Key Reason to buy the report:
How we are different from others:
At OBRC, our reports offer an extensive portfolio through completed market analysis along with market share, market size, and market segmentation. The DROC’s for the markets is well thought out and researched after consulting with industry experts. Global healthcare payer services market showcases market analysis through models like investment vs adoption, see saw analysis, and so on. The report also provides overview on product application, adoption and decision support within each segment. The company profiling for each major player within the market is showcased via SCOT analysis.
Key findings of the global healthcare payer services market: