Global Healthcare Payer Services Market

Global Healthcare Payer Services Market is expected to reach USD 33.35 Billion by 2024 from USD 13.25 Billion in 2016 at CAGR of 12.23% (Detailed analysis of the market CAGR is provided in the report). Services that are outsourced by healthcare insurance payers and providers to streamline their business processes and deliver better services to their customers are collectively called Healthcare Payer Services. Healthcare payer services provide a reduced burden of administration, procurement, accounting, logistics, and other tasks, as well as develops cost-effective business processes. Global Healthcare Payer Services Market

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Global Healthcare Payer Services Market is segmented by services, application, end user, and geography. Services segment is classified as KPO services, BPO services, and ITO services. BPO services segment is expected to lead the market in the forecast period, owing to high demand to incorporate health insurance exchanges in the private healthcare insurance enrollment procedures. End-user segment is divided as private payers and public payers. Application segment is divided as to 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 and HR services. The market on the basis of geography is segmented by North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America. Increasing demand for advanced technologies to operate business process services in a cost-effective way is trending the overall Global Healthcare Payer Services Market. However, rising incidences of data breaches and loss of confidentiality will restrain the market growth. North America is expected to lead the Healthcare Payer Services Market during the forecast period followed by Europe and APAC. Increasing health insurance enrollment, the favorable individual mandate levied by the ACA, the presence of favorable reimbursement framework will fuel the Global Healthcare Payer Services Market in the North America region. Key Highlights: • Assessment of market definition along with the identification of key players and an analysis of their strategies to determine the competitive outlook of the market, opportunities, drivers, restraints, and challenges for this market during the forecast period • Complete quantitative analysis of the industry from 2016 to 2024 to enable the stakeholders to capitalize on the prevailing market opportunities • In-depth analysis of the industry on the basis of market segments, market dynamics, market size, competition & companies involved value chain • Global Healthcare Payer Services Market analysis and comprehensive segmentation with respect to the services, application, end user, and geography to assist in strategic business planning • Global Healthcare Payer Services Market analysis and forecast for five major geographies North America, Europe, Asia Pacific, Middle East & Africa, Latin America and their key regions Research Methodology: The research methodology used in this report contains various secondary sources including Bloomberg, Hoovers, and Factiva are some of the sites that are being referred to gain insights about Global Healthcare Payer Services Market. Experts from top manufacturing companies along with other stakeholders have been considered. This is done to validate and collect critical information for evaluating trends related to this market during the forecast period. Top-down and bottom-up approaches have been used to estimate the global and regional size of this market. Data triangulation techniques along with other comparative analysis are also used to calculate the exact size of the Global Healthcare Payer Services Market globally.

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