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Healthcare Payer Services Market Trends

Report ID: GMI5701
Published Date: May 2023
Report Format: PDF

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Healthcare Payer Services Market Trends

Increasing adoption of insurance policies owing to growing burden of chronic disease, increasing healthcare expense among others significantly impact the market growth. Healthcare payer solutions are enterprise core administration and claims management platforms that enable payer organizations to expand, innovate, and save costs across various business lines. Also, the insurance enrolment process involves registering with an insurance provider to become a member of the plan.

Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

The market size of healthcare payer was valued at USD 57.7 billion in 2022 and will progress at 9.1% CAGR between 2023 and 2032 propelled by the increasing healthcare cost and expensive medical bills.

The BPO segment accounted for around 49% of the healthcare payer industry share in 2022 as outsourcing non-core business processes, such as claims processing and healthcare revenue cycle management, among others, are crucial for healthcare payers.

The private payer end-use segment is anticipated to reach USD 83 billion by 2032 owing to the introduction of novel technologies and data analytics for efficiency and personalized services.

North America held over 38% of the healthcare payer market share in 2022 and will grow notably through 2032 as a result of the increasing healthcare expenditure, rising adoption of digital technologies, and the need for efficient and cost-effective healthcare services in the region.