The healthcare payer business process outsourcing market is anticipated to reach $34.2 billion by 2022.
Here are five takeaways:
1. Factors driving the market include Affordable Care Act growth, the shift to ICD-10 codes and an increasing geriatric population.
2. A rise in disease burden and new insurance coverage in emerging economies are also fueling the market's growth.
3. In 2013, America's Health Insurance Plans found the United States allocates nearly $2.7 trillion to healthcare spending.
4. Asia Pacific is expected to be the fastest growing market due to high economic development, favorable government initiatives as well as urban and rural area insurance market growth.
5. Major market players include Xerox, Genpact Limited, Wipro Limited, Capgemini, Hinduja Global Solutions, HCL Technologies, Cognizant Technology Solutions, EXLService and Accenture.
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