Europe Healthcare BPO Market is segmented By Provider Service (Patient Enrollment and Strategic Planning, Revenue Cycle Management, Patient Care Service) By Payer Service (Provider Management, Human Resource Management, Claims Management, Care Management, CRM, Other Payer Services), By Pharmaceutical Service (Research and Development, Manufacturing, Sales and Marketing Services, Other Non-clinical Services) and By Country (UK, France, Spain, Germany, Italy and Rest of Europe) – Share, Size, Outlook, and Opportunity Analysis, 2023-2030
Europe Healthcare BPO Market Overview
The Europe Healthcare BPO Market is expected to grow at a CAGR of 9.56% during the forecast period 2023-2030.
Healthcare business process outsourcing is a procedure that is entrusted to an outside supplier. The government can reduce healthcare costs by enacting favourable government policies that support healthcare business process point market growth and boost healthcare sector consolidation. The primary reasons for outsourcing healthcare business operations inside hospitals and the healthcare system are to safeguard the confidentiality of personal patient information, identify and manage network security fraud, and prevent significant errors. The invention of healthcare business process outsourcing has resulted in enhanced patient care and greater workflow efficiency.
Europe Healthcare BPO Market Scope
|
Metrics |
Details |
|
CAGR |
9.56% |
|
Size Available for Years |
2021-2030 |
|
Forecast Period |
2023-2030 |
|
Data Availability |
Value (US$) |
|
Segments Covered |
Provider Service, Payer Service, and Pharmaceutical Service |
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Countries Covered |
UK, France, Spain, Germany, Italy and Rest of Europe |
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Largest Country |
Germany |
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Report Insights Covered |
Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and Acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, Porter’s Analysis, Pricing Analysis, Regulatory Analysis, Supply-Chain Analysis and Other key Insights. |
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Market Growth Drivers
The primary reasons driving the growth of the market are the need to lower healthcare costs, increase healthcare system efficiency, and expand outsourcing in the life science sectors. The medical industry and its related institutions want to reduce labour burdens via government efforts and private sector adoption of revenue claim management. The adoption of healthcare BPO solutions in Europe decreases revenue loss due to billing mistakes while increasing IT input. Services include revenue cycle management, insurance claim processing, the healthcare payer business, and claim management outsourcing. Another major element is the increased availability of offshore outsourcing locations and modern technologies.
Factors such as nearshoring give firms the benefit of cultural, time zone, and linguistic similarities, allowing them to provide higher-quality services. As a result, businesses have begun to outsource their operations via BPO services in the same area. Outsourcing BPO services provides several benefits, such as low labour costs, reduced socioeconomic hazards, and simple regulatory processes, which boost demand for BPO services, particularly cloud-based BPO technology. Cloud-based BPO services have transformed the BPO business and greatly aided healthcare institutions in developing global delivery models and providing secure data access.
Europe Healthcare BPO Market Segmentation Analysis
The Europe Healthcare BPO Market is segmented by provider service, payer service, and pharmaceutical service.
Based on the Payer Service, the Human Resource Management Segment is estimated to lead the market throughout the forecast period, owing to the rising burden of chronic diseases and the growing number of patients worldwide. This approach enables businesses to outsource human resource operations and administrative activities to third-party firms.
Geographical Share
Geographically, Germany lead the European healthcare BPO market by country in 2022, while the United Kingdom is expected to grow at a CAGR of 10.9% between 2022 and 2027. The rising need for lower overall healthcare expenses and the availability of competent personnel will boost the Germany healthcare bpo industry. Other causes include the requirement for high-quality patient treatments, the convenience of claim procedures reduced effort and greater efficiency, and the region's expanding senior population.
The France healthcare bpo market is estimated to grow at a 14.5% CAGR between 2023 and 2028. Because of payment rules, consolidation of big healthcare providers, and increased pressure on healthcare providers to establish more sustainable health systems, this area has more development potential. These healthcare BPO services manage a wide range of operations, from data entry to medical claims processing, providing attractive prospects for main companies and regional market participants to expand their market share.
Europe Healthcare BPO Market Companies
The major global companies contributing to the market growth include Infosys BPO Ltd., Cognizant Technology Solutions Corporation, Genpact Limited, Tata Consultancy Services Ltd., Accenture PLC and Xerox Corporation.
