Healthcare Payer Solution Market by Type (Devices and Services), Stakeholders (Mobile Operators, Device Vendors, Healthcare Providers, and Content Players), and Application (Cardiovascular Diseases, Diabetes, Respiratory diseases, Neurological Disorders, and Others): Global Opportunity Analysis and Industry Forecast, 2020–2027

Healthcare Payer Solution Market Statistics 2027

The global healthcare payer services market was valued at $19,409.52 million in 2019, and is projected to reach $41,906.64 million by 2027, registering a CAGR of 10.6% from 2020 to 2027.

 

 

Healthcare payer refers Preferred Provider Organizations (PPOs), Health Maintenance Organizations (HMOs), healthcare service contracts, state insurance agencies, and claim handlers. Healthcare payer solution providers help such public and private payers as well as healthcare insurers to manage the claims, member engagement, audits, medical documents, and customer relations. These businesses have dedicated units that help to improve overall health system performance through optimizing care quality; reducing costs & improving consumer experience & care provider performance; and leveraging distinctive capabilities in data & analytics, pharmacy care services, population health, healthcare delivery, & healthcare operations. Through all these services, healthcare payer solution providers help their clients to improve their operational efficiency and reduce their operational cost.

 

The growth of the global healthcare payer solution market is majorly driven by rise in cost of healthcare systems and urge to decrease wasteful spending. Moreover, surge in risk of healthcare frauds and increase in demand for streamlined business processes drive the growth of the healthcare payer solution market. Furthermore, rise in health insurance enrolment, increase in adoption of healthcare IT solutions, and implementation of various healthcare reforms such as Patient Protection and Affordable Care Act fuel the growth of the healthcare payer solution market.

 

However, surge in incidence of data breaches and loss of confidentiality and cultural & language barriers are anticipated to restrict the growth of the market. On the contrary, high growth potential offered by emerging economies and increase in adoption of AI & analytics are expected to offer lucrative opportunities for the market expansion during the forecast period.

 

The global healthcare payer solution market is segmented into service, application, end user, and region. On the basis of service, the market is fragmented into business process outsourcing (BPO) services, information technology outsourcing (ITO) services, and knowledge process outsourcing (KPO) services. By application, it is categorized into pharmacy audit & analysis systems, claims management services, fraud management services, computer-assisted coding (CAC) systems, member eligibility management services, provider network management services, payment management services, customer relationship management services, medical document management services, and general ledger & payroll management. Depending on end user, it is differentiated into private and public end user. Region wise, it is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, the UK, Italy, Spain, France, and rest of Europe), Asia-Pacific (Japan, China, India, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).

 

Major players operating in the market include UnitedHealth Group Incorporated, McKesson Corporation, HMS Holdings Corp, International Business Machines Corporation, Change Healthcare, Inc., Accenture plc, Cognizant Technology Solutions Corporation, Hinduja Global Solutions Limited, Inovalon Holdings, Inc., and Wipro Limited.

KEY BENEFITS FOR STAKEHOLDERS

List of key players profiled in the report

LIST OF OTHER PLAYERS IN THE VALUE CHAIN (These players are not profiled in the report. The same will be included on request.)