Press Release

Healthcare Payer Solutions Market to Reach $ 50 Billion Mark by 2025

Growing insurance enrolments and increasing healthcare frauds to drive global healthcare payer solutions market

According to TechSci Research report, Global Healthcare Payer Solutions Market By Service Type, By Application, By End User, By Region, Competition, Forecast & Opportunities, 2025, the global healthcare payer solutions market is forecast to reach $ 50 billion by 2025, predominantly on account of rising demand for streamlined business process. Additionally, healthcare payer solutions help payers transform their businesses and achieve their goals with solutions across all the major touch points. Also, healthcare payer solutions deliver a well-coordinated, affordable, and cohesive healthcare experience, thereby positively impacting the market. Besides, progression of health benefit plan designs and presence of healthcare regulatory policies is further anticipated to propel the growth of market over the next five years. However, high claim denial rates and slow process of claim approvals might hamper the market growth. Additionally, issues such as administrative control breakdown might further hinder the market growth. High costs associated with outsourcing along with the loss of managerial control in outsourced projects is also anticipated to negatively impact the market growth.

Browse 107 market data Figures spread through 110 Pages and an in-depth TOC on "Global Healthcare Payer Solutions Market"   

The global healthcare payer solutions market is segmented based on service type, application, end user, and region. Based on service type, the market can be categorized into BPO, ITO and KPO. Among these, the BPO segment is expected to dominate the market during forecast period with a majority market share through 2025. This can be attributed to the fact that BPO service provides customer support & assistance in various administrative areas. This in turn enables the payers to achieve cost reductions and to speed time to market, which is majorly the key target of payer organizations. On the other hand, the ITO segment is expected to witness highest growth over the next few years owing to the growing demand for accurate claim resolution and rising need to reduce the number of fraudulent incidences. Based on application, the market can be fragmented into Claims Management Service, Provider Management Service, Member Management Service, HR Services, Analytics & Fraud Management Service, Billing & Accounts Management Service, and Others. Among these, the Claim Management segment dominated the market with around one-third share in 2019 and the segment is expected to hold its dominance during the forecast period as well as it helps the organizations to create and deploy automated and agile claim management process for full proof claim processing.

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Cognizant Technology Solutions, Accenture plc, Concentrix Corporation, ExlService Holdings, Inc., Xerox Corporation, Genpact Limited, Hewlett-Packard, Hexaware Technologies Limited, FirstSource Solutions Limited, HCL Technologies Ltd., etc. are some of the leading players operating in the global healthcare payer solutions market. “North America is expected to dominate the global healthcare payer solutions market during the forecast period, owing to the huge and growing insurance enrolment in the region. Additionally, surging demand for an integrated healthcare system in the region is further anticipated to fuel the market. Furthermore, the federal healthcare mandates in the US are expected to positively impact the market growth over next few years.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

Global Healthcare Payer Solutions Market By Service Type, By Application, By End User, By Region, Competition, Forecast & Opportunities, 2025 has evaluated the future growth potential of global healthcare payer solutions market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in global healthcare payer solutions market.


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