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Healthcare Payer BPO Market trends research and projections for 2017-2024

Healthcare Payer BPO Market size was valued at over USD 15 billion in 2015 and is anticipated to grow at over 7% CAGR from 2016 to 2023. Major drivers contributing to industry growth include increasing geriatric population and healthcare costs, shift in ICD-10 coding system, innovations and developments in IT and regulatory changes. Claims processing services was leading product sector and accounted for more than 50% of the total healthcare payer BPO market share in 2015. Increased diffusion rate of insurance coverage across the developing and developed countries is the major driver. North America healthcare payer BPO market led the global industry with over 50% of the total revenue generated in 2015. Factors such as high number of number of public and private medical expenses, presence of strong repayment agenda, high number of claim records and favorable government policies played key role in this share. U.S. and Canada spend huge capital on medical reimbursement thus ensure strict agreement and implementation of healthcare policies

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