The Global Healthcare Payer Services Market was valued at USD 11.97 billion in 2016 and is projected to reach USD 32.94 billion by 2025, growing at a CAGR of 11.9% from 2017 to 2025.
Payer services in Healthcare include a vast range of services which are for the ease and benefits of payers, such as treatment management, estimates costs, payment gateways, and value based healthcare policies and insurances. These services have increased their web in market due to increased breaches and frauds.
The Final Report will cover the impact analysis of COVID-19 on this industry:
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1. Market Drivers
1.1 Economical for the payers
1.2 Federal laws in U.S. focusing on payers
1.3 Increase in the amount of frauds
1.4 Dynamic Nature of Health benefit plans for payers
1.5 Shortage of IT technicians in internal staff
2. Market Restraints
2.1 Risk of Data breaches
2.2 Management control issues
1. Global Healthcare Payer Services Market, by application:
1.1 Claims Management Services
1.1.1 Claims Adjudication Services
1.1.2 Claims Settlement
1.1.3 Information Management Services
1.1.4 Claims Repricing
1.1.5 Claims Investigation Services
1.1.6 Claims Indexing Services
1.1.7 Litigation Management
1.2 Integrated Front-End Services and Back-Office Operations
1.3 Member Management Services
1.4 Provider Management Services
1.5 Billing and Accounts Management Services
1.6 Analytics and Fraud Management Services
1.7 Hr Services
2. Global Healthcare Payer Services Market, by Service type:
2.1 Business Process Outsourcing Services
2.2 Information Technology Outsourcing Services
2.3 Knowledge Process Outsourcing Services
3. Global Healthcare Payer Services Market, by End User:
3.1 Private players
3.2 Public payers
4. Global Healthcare Payer Services Market, by Region:
4.1 North America (U.S., Canada, Mexico)
4.2 Europe (Germany, UK, France, Rest of Europe)
4.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
4.4 Latin America (Brazil, Argentina, Rest of Latin America)
4.5 Middle East & Africa
The major players in the market are as follows:
1. Cognizant Technology Solutions
2. Accenture PLC
3. Exlservice Holdings, Inc.
4. Concentrix Corporation (A Subsidiary of Synnex Corporation)
6. Hinduja Global Solutions Limited
7. Xerox Corporation
8. Dell, Inc.
9. Genpact Limited
10. HCL Technologies Ltd.
11. Wipro Limited
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
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RESEARCH METHODOLOGY OF VERIFIED MARKET INTELLIGENCE:
Research study on the Healthcare Payer Services Marketwas performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
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