Global Healthcare Payer Services Market Size is valued at USD 80.4 Billion in 2024 and is predicted to reach USD 210.5 Billion by the year 2034 at a 10.2% CAGR during the forecast period for 2025-2034.
Key Industry Insights & Findings from the Report:
Healthcare supply chain business process outsourcing is contracting out the healthcare supply chain administration to outside service providers (BPO). The demand for improved supply chain management (SCM) techniques and the increase in the necessity for cost-effective operations are factors contributing to this industry's growth. Over the projected period, reducing the overall cost of healthcare supply chain BPO services is predicted to fuel market expansion.
Also, the need for healthcare supply chain business process outsourcing is growing due to inventory management, and the market is anticipated to expand throughout the forecast period as a result. The use of ICD-10 codes, a drop in the cost of healthcare delivery, and other reasons are also expediting the growth of the healthcare supply chain BPO industry.
Healthcare payers had difficulties as a result of the COVID-19 pandemic, and some health insurers fared better financially during the epidemic due to reduced healthcare funding. Healthcare providers have received strong assistance from the payers. They have established community programs for health equity, broadened eligibility to allow patients to keep their medical treatments, provided advance payments, and constructed web portals that deliver quick and accurate information about the epidemic. The important parties are forming strategic alliances for initiatives addressing systemic health disparities.
In March 2024, Oracle has recently made important improvements to Oracle Health Data Intelligence, including the addition of a new generative AI service designed to boost the efficiency of care management. Oracle Health Data Intelligence, formerly referred to as HealtheIntent, was a collection of cloud-based applications, services, and analytics that were organized in a modular manner. The system was enhanced with additional capabilities, such as improved system performance, pre-built clinical quality analytics, and automatic alarms. These enhancements resulted in more reimbursements and improved care.
In May 2022, Omega Healthcare has declared the procurement of ApexonHealth, Vasta Global, and Reventics as a component of its plan to expedite the organization's progression. Omega Healthcare utilized strategic acquisitions to expand its AI and data-analytics-driven solutions, enabling healthcare clients to optimize revenue and save costs by leveraging big data and automation technology. Omega Healthcare enhanced its current Clinical Documentation Improvement (CDI) capabilities by implementing technology-driven solutions. Additionally, the company increased its core coding and Revenue Cycle Management (RCM) services.
The Healthcare Payer Services market is segmented by service, application, and end-use. Based on service, the market is segmented into BPO Services, ITO Services, and KPO Services. By the application, the market is segmented into Claims Management Services, Integrated Front Office Service & Back Office Operations, Member Management Services, Provider Management Services, Billing & Accounts Management Services, Analytics & Fraud Management Services, and HR Services. By end-use, the market is segmented into Private and Public Payers.
Due to the spike in demand for highly qualified workers and the cost-benefit associated with outsourcing high-end activities at a cheap cost to emerging countries, the healthcare payer KPO category is predicted to grow at a profitable CAGR. In addition, one of the key factors projected to fuel the sector's growth in the upcoming years is the growing demand in emerging nations for low-cost, highly qualified personnel for domain-specific core and non-core operations of the payer vertical.
Claims management services held the primary stake. Among other important factors that are influencing the number of people enrolled in the Centers for Medicare and Medicaid Services are the existence of the Affordable Care Act and rising overall healthcare spending. The majority of a payer's burden is made up of claims processing services, which are the most data-intensive operations. The providers' claims are examined for compliance with eligibility requirements, veracity, and the precise amount that needs to be reimbursed. The process has been streamlined, and turnaround times have greatly increased as a result of the advent of the digital era.
The market was dominated by North America. The need for healthcare supply chain business process outsourcing is expected to develop during the forecast period due to the rising demand for healthcare IT services. The demand for healthcare supply chain business process outsourcing is projected to rise as a result of evolving regulatory environments and mounting pressure on the healthcare sector to reduce service costs. Thus, during the projection period, the regional market is anticipated to experience significant expansion.
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Report Attribute |
Specifications |
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Market size value in 2024 |
USD 80.4 Billion |
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Revenue forecast in 2034 |
USD 210.5 Billion |
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Growth rate CAGR |
CAGR of 10.2% from 2025 to 2034 |
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Quantitative units |
Representation of revenue in US$ Mn, and CAGR from 2025 to 2034 |
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Historic Year |
2021 to 2024 |
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Forecast Year |
2025-2034 |
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Report coverage |
The forecast of revenue, the position of the company, the competitive market statistics, growth prospects, and trends |
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Segments covered |
Service, Application, And End-Use |
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Regional scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; Southeast Asia; South Korea; Southeast Asia |
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Competitive Landscape |
Cognizant; EXL; HGS Ltd.; Accenture; Xerox Corporation; Concentric Corporation; Genpact; WIPRO Ltd.; HCL Technologies |
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Customization scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
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Pricing and available payment methods |
Explore pricing alternatives that are customized to your particular study requirements. |
Healthcare Payer Services Market By Service-
Healthcare Payer Services Market By Application-
Healthcare Payer Services Market By End Use-
Healthcare Payer Services Market By Region-
North America-
Europe-
Asia-Pacific-
Latin America-
Middle East & Africa-
InsightAce Analytic follows a standard and comprehensive market research methodology focused on offering the most accurate and precise market insights. The methods followed for all our market research studies include three significant steps – primary research, secondary research, and data modeling and analysis - to derive the current market size and forecast it over the forecast period. In this study, these three steps were used iteratively to generate valid data points (minimum deviation), which were cross-validated through multiple approaches mentioned below in the data modeling section.
Through secondary research methods, information on the market under study, its peer, and the parent market was collected. This information was then entered into data models. The resulted data points and insights were then validated by primary participants.
Based on additional insights from these primary participants, more directional efforts were put into doing secondary research and optimize data models. This process was repeated till all data models used in the study produced similar results (with minimum deviation). This way, this iterative process was able to generate the most accurate market numbers and qualitative insights.
Secondary research
The secondary research sources that are typically mentioned to include, but are not limited to:
The paid sources for secondary research like Factiva, OneSource, Hoovers, and Statista
Primary Research:
Primary research involves telephonic interviews, e-mail interactions, as well as face-to-face interviews for each market, category, segment, and subsegment across geographies
The contributors who typically take part in such a course include, but are not limited to:
Data Modeling and Analysis:
In the iterative process (mentioned above), data models received inputs from primary as well as secondary sources. But analysts working on these models were the key. They used their extensive knowledge and experience about industry and topic to make changes and fine-tuning these models as per the product/service under study.
The standard data models used while studying this market were the top-down and bottom-up approaches and the company shares analysis model. However, other methods were also used along with these – which were specific to the industry and product/service under study.
To know more about the research methodology used for this study, kindly contact us/click here.
