Top 5 Companies in Healthcare Payer BPO Market – Covid 19 Pandemic

The Healthcare Payer BPO sector has become one of the leading sectors in the world. The basic function of healthcare organizations is to diagnose diseases and treat patients as per it. The organizations can provide successful treatment when they have efficient and excellently skilled professionals. So, there’s a lot of need for staff management in the hospitals. It’s because patient experience begins right from the diagnosis stage to check-in, recover, and to discharge. The more satisfied the patient is the more chances of returning or recommending to others. So, it’s imperative to provide the best experiences to the patient and it requires a lot of investment in manpower, resources, and most importantly the TIME.

Healthcare Payer BPO Market Segmentation:-

Market segment by Type, the product can be split into

Claims Processing Services, Member Services, HR Services, Finance And Accounts

Market segment by Application, split into

Large hospitals, Middle hospitals, Pharmacy, Insurance companies

The first two things, i.e, resources, and manpower can be easily handled by the hospitals, but giving enough time to patient care may become cumbersome. It’s because of the fact that the healthcare industry has several other responsibilities including patient care such as medical billing and coding, maintaining patient records, medical transcription, healthcare software solutions, etc. The medical staff already have the core job of treating patients and they can’t spend their precious time performing these tasks. Even if they do, there are chances of blunders, delays in accounts receivables, insurance verification, etc. So, the best option to cope with these requirements is to partner with outsourcing healthcare service provider who has the expertise, workforce, and resources to accomplish results in an efficient manner.

The market continues to remain consolidated at the top, with Accenture, Cognizant, Conduent, and HPE, together accounting for over 60% of the market by revenue

The payers continue to withdraw from health insurance exchanges citing rising losses as a reason; a trend which would eventually reduce competition in the market and may give rise to monopolistic behavior by remaining players

Brandessence Market Research has announced the Top 5 Healthcare Payer BPO Market Companies List In 2020

Cognizant

We consider it our responsibility to make people feel at home in the future, no matter how technologyenabled it becomes. So, we are committed to helping to solve some of humankind’s most difficult challenges in a way that is beneficial and comfortable for people through the work we do, and through investing in training people around the world in the digital skills that will be needed to do that work. We help you engage your customers by envisioning and building better products and experiences, developing go-to-market approaches and inventing disruptive new business models—all to generate new growth, meaningful differentiation and real economic value. When we do digital at scale and speed, we systematically rethink how out clients can create value everywhere in their organizations at the speed expected by their customers.

Xerox

We are made to think. We take what is and turn it into what will be. We never stop innovating, reimagining, building and doing. And we never stop questioning.We make packaging that talks to you, printers that listen and software that intuitively personalises and humanises. Because Made to Think means, we’re not just thinking about the future, we’re making it.

Accenture

Growing customer expectations.Market-shaping AI.Self-optimizing systems.The post-digital age shows no signs of slowing down, and the need for rapid business transformation has never been greater. We meet clients wherever they are on their paths to change—in every industry across the globe—and partner with them to create lasting value.We combine human ingenuity with intelligent technology to benefit society and shape responsible business.

HPE

Hewlett Packard Enterprise is the global edge-to-cloud Platform-as-a-Service company that helps organisations accelerate outcomes by unlocking value from all of their data, everywhere. We’re built on decades of reimagining the future through innovation.At Hewlett Packard Enterprise, we advance the way you live and work by engineering experiences that unlock your full potential.At HPE, we believe that technology’s greatest promise lies in its potential for positive change. Learn more about how we can use this change to overcome challenges and make a greater impact for the global good – together.

Exlservice

At EXL, we’re experts in more than analytics, operations management, and technology. We’re experts in you, and your industry. This gives us the context to look deeper to identify and capitalize on opportunities to outperform. We call it Digital Intelligence: the all-important combination of digital and domain knowledge, human and technology, coming together to create breakthrough results.

Digital Intelligence is why companies in the world’s most complex industries—from insurance to healthcare to transportation—bring us their toughest challenges, their seemingly impossible goals.