Global healthcare BPO outsourcing market to reach $9B by 2020

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The global market for business process outsourcing in healthcare is expected to grow within the next five years.

The market is forecasted to grow steadily at a compound annual growth rate of close to 6 percent, reaching more than $9 billion by 2020.

"Cloud technology has revolutionized the mode of outsourcing business processes. BPO solutions are hosted on remote infrastructure, managed by cloud providers, and categorized as BPaaS. Some healthcare business processes that are being enabled by cloud-based BPOs include payroll, F&A [finance and accounting], contact centers and specialized HR solutions," Amit Sharma, one of Technavio's lead analysts for information technology outsourcing and BPO research, said in a prepared statement.

"Cloud-based BPO helps healthcare organizations reduce costs, develop global delivery models and provide secured data access. Cloud-based BPO solution also provides various advantages such as reliability, scalability and agility," added Mr. Sharma.

Technavio, a global technology research and advisory company, said contracts by public sector organizations will pose a key opportunity for healthcare BPO vendors in the Americas and Europe through 2020.

The global healthcare customer relationship management BPO market overall was valued at $3.87 billion in 2015. Over the next four years, Technavio said, the introduction of social media will play a key role in allowing patients to efficiently communicate with medical staff. The company expects this trend will likely encourage vendors to launch new service with the help of healthcare CRM tools.

The global healthcare human resources BPO market was valued at $1.71 billion in 2015. The global healthcare F&A BPO market was valued at $1.65 billion in 2015.



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