Healthcare payer services are services that are outsourced by healthcare insurance payers and providers. The changing dynamics of the
healthcare sector are compelling payers to rethink business models and processes
to deal with the competition in the market while providing better quality
patient care by streamlining the process, reducing costs, and improving customer
communication. These are the major concerns for healthcare payers and to
overcome the obstacles, healthcare payers are currently outsourcing this service
to healthcare payer service providers.
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The healthcare payer services market is expected to grow due to increasing number of healthcare payer service providers and increasing pressure
of cost cutting. The cost of outsourcing healthcare payer service is less
compered to in-house payer services. With increasing technological advancement
and increasing adoption of analytics in healthcare, and increasing number of
people opting for healthcare insurance, the base of customers is growing day by
day. This is likely to propel the growth of the market during the forecast
period. However Trevor Ariza Rockets Jersey , factors such as increasing incidence of cyber theft, i.e., loss of confidential data, and hidden cost associated with
outsourcing is expected to hamper the growth of the healthcare payer service
market during the forecast period.
The healthcare payer services market has been segmented by service type, application, end-user Hakeem Olajuwon Rockets Jersey , and geography. In terms of service type, the market has been categorized into business process outsourcing (BPO),
information technology outsourcing (ITO), and knowledge process outsourcing
(KPO). Business process outsourcing is expected to account for larger market
share due to increasing cost cutting pressure and rising implementation of
ICD-10 codes. Based on application, the healthcare payer services market has
been segmented into claims management, HR services James Harden Rockets Jersey , billing and accounts management, analytics and fraud management and others. Claims management is expected to account for larger
market share due to increasing number of people enrolling for health insurance.
Claims calculation is very time consuming and tedious. Outsourcing of claims
management to healthcare payers service providers reduces cost and saves time
for insurance companies. Based on end users, the healthcare payer services
market has been segmented into private payers and public payers.
Geographically, the healthcare payer services market has been categorized into five regions. These include North America, Europe, Asia
Pacific Chris Paul Rockets Jersey , Latin America, and Middle East & Africa. North America is expected to account for larger market share due to extensive
technological advancements in the region. Rising implementation of ICD-10 codes
in the U.S. and increasing number of people opting for health insurance, would
boost market growth. Moreover, presence of developed IT and healthcare
infrastructure, and increasing number of healthcare payer services providers is
expected to propel the growth of the healthcare payer services market in the
region. Europe is expected to be the second largest market in healthcare payer
services owing to enhanced digitization of healthcare processes and
implementation of technologically advanced systems in the region. The major
factor that would drive the market in Asia Pacific include the acceptance and
demand for high end medical infrastructure, and availability of services at
lower cost compared to North America and Europe. China Ryan Anderson Kids Jersey , Japan, and India are the most developing countries in the region and hence would fuel the market growth for healthcare payer services.
Latin American countries such as Brazil and Mexico have significant potential
for growth due to evolving medical structure and high disposable income.
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[u];rep_id=30431[/u]
[u][u]The major players operating in the healthcare payer services market include UnitedHealth Group, Inc., Cognizant Technology Solutions, IBM
Corporation, Genpact Eric Gordon Kids Jersey , Accenture PLC, Xerox Corporation, Hewlett-Packard, Aetna Inc., EXL Service Holdings, Inc. and Wipro Limited.
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[u][u]About us[/u][/u]
[u][u]Transparency Market Research is a global market intelligence company Trevor Ariza Kids Jersey , providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis
provides forward-looking insight for thousands of decision makers. Our
experienced team of Analysts, Researchers, and Consultants, use proprietary data
sources and various tools and techniques to gather, and analyze information.
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[u][u]Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and
information. With a broad research and analysis capability Hakeem Olajuwon Kids Jersey , Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive
data sets and research material for business reports.
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