The “U.S. Business Process As A Service (BPaaS) In Healthcare Payers Market Size, Share & Trends Analysis Report” has been released by ResearchAndMarkets.com. The report predicts that the U.S. business process as a service (BPaaS) in the healthcare payers market will reach a market size of USD 9.6 billion by 2030, with a compound annual growth rate (CAGR) of 5.81% from 2023 to 2030.
BPaaS engagements are driving revenue for healthcare payer business process outsourcing. The market’s growth is attributed to the transition towards value-based care, accelerated by the impact of COVID-19. The shift from fee-for-service to a value-based care model in the U.S. healthcare system places emphasis on patient outcomes and quality of care, making BPaaS adoption an ideal solution.
The Affordable Care Act has made healthcare providers more prominent, enabling them to leverage the BPaaS opportunity. As the U.S. healthcare system moves towards value-based care, the focus on quality and patient outcomes has intensified. Rising healthcare costs have also prompted the rise of value-based healthcare services. BPaaS can deliver value-based care by providing advanced analytics and data management tools.
Compliance challenges, such as HIPAA, HITECH, and PCI DSS, have impacted the industry. BPaaS providers can bridge compliance gaps between verticals and adapt to changing regulations. Compliance management is now approached as an administrative activity, allowing BPaaS solutions to effectively manage adherence difficulties.
The report highlights several key points. The shift towards digital health, value-based care, and increasing consumerism has transformed payer operations. Small and medium-sized payers prefer the BPaaS model, with Medicare advantage and managed medicaid as viable business cases. Administrative processes like care management and claims management have witnessed substantial BPaaS adoption.
The market dynamics driving the growth of the U.S. BPaaS in healthcare payers market include changing regulations, expanding healthcare consumerism, and the shift towards value-based healthcare. However, there are also restraints such as risk concerns regarding data security and high costs.
The report mentions several companies in the market, including Accenture, Cognizant, HCL Technologies Limited, IBM, Infosys Limited, NTT DATA Corporation, Optum, TATA Consultancy Services Limited, UST, Wipro, EXL, Softheon Inc., Genpact, Change Healthcare, Firstsource, Celegence, and Highmark Health.
In terms of key attributes, the report provides details on the forecasted market value from 2022 to 2030, the compound annual growth rate, and the regions covered, which include the United States.
For more information about the report, please visit the ResearchAndMarkets.com website, which is a leading source for international market research reports and market data.