The healthcare BPO industry is defined as payer, provider and pharmaceutical outsourcing. Each of these industry divisions is further segmented into appropriate service segments and sub-segments. The provider market is segmented into medical billing, medical coding, medical transcription, and finance and account segments.
The global healthcare BPO market is expected to grow at a CAGR of 10.7% from US$113.2 billion in 2013 to US$188.9 billion in 2018. The global medical billing outsourcing market is expected to grow at a CAGR of 9.29% over the period 2014-2019. Healthcare spending is expected to increase, which will put additional pressure on healthcare delivery systems, governments, and insurers. The major reasons for increased spending in developed countries are an aging population and lower fertility rate; in emerging countries, it is the lack of infrastructure, increase in chronic diseases, and inequality in availability of patient care.