such as hospitals have been outsourcing various ancillary tasks globally. Outsourcing enables hospitals to focus on their core task of providing efficient healthcare services. Outsourcing ancillary processes can improve the financial results by reducing administrative costs and increasing revenues, efficiency and service quality. In hospitals, most of the ancillary activities require specialized skills or require substantial infrastructure. Growing number of hospitals, clinics, research institutes, pharmaceutical/clinical laboratories along with significant growth in pharmaceutical industry are driving the healthcare outsourcing market.
There are different manufacturers who deliver Healthcare/Medical Outsourcing types of products payer outsourcing services, provider outsourcing services, pharmaceutical outsourcing services and pathology and laboratory outsourcing services.
The developing need of healthcare outsourcing is mainly because of the promptly growing cost of healthcare services and the cost of government healthcare programs has moved to healthcare sources which ultimately lead to healthcare providers receiving less advantage for their amenities and they are facing more encumbrances from patients to continue to deliver superior care. In response to this, healthcare service providers are looking for outsourcing way out to combat these rising expenses. Wide range of service providers operate in the market which have the required infrastructure and skilled resources to process healthcare claims adjudication services on any scale and streamline the verification and claims adjudication process. Pharmaceutical is anticipated to dominate the global healthcare outsourcing market by services and is estimated to control around 65% of the total healthcare outsourcing market revenue by services in 2021. However, payer is estimated to attain the fastest growth rate during the forecast period.
Many new multi-specialty hospitals chains have come up, which are driving the need for outsourcing. Moreover, Hospitals have started to use third party services for interpretation of imaging results or transcription of physician's case notes which is all set to create a boom in the healthcare outsourcing market. The healthcare outsourcing market is driven by increasing number of service providers which include payer, healthcare operations, healthcare providers, pharma outsourcing, pathology & lab outsourcing and many others. Outsourcing drug development and clinical trials, enables companies to focus on core capabilities. This is yet other reasons which will drive the growth of healthcare outsourcing in the near future.
The report analyses the healthcare outsourcing market demand with respect to various regions. Competitive landscape for top five healthcare outsourcing markets is highlighted and market players are profiled and are analysed on disparate aspects like company overview, financial overview, product portfolio and recent developments.Healthcare Outsourcing Market Classification:
- Payer Outsourcing
- Healthcare Operations Outsourcing
- Healthcare Provider
- Pharma Outsourcing (Clinical)
- Pharma Outsourcing (Non-Clinical)
- Pathology and Lab Outsourcing