Career Outlook: US Healthcare BPO
"Employment of healthcare domain including healthcare BPO is projected to grow 22% from 2012 to 2022, which is much higher than the national average of 11% for other career choices. The demand for health services is expected to increase as the population ages." - Bureau of Labor Statistics, USA
Total U.S. health care spending hit $3.031 trillion in 2014, the latest year for which government data is available, or $9,523 per person. As a share of the nation's Gross Domestic Product, healthcare spending accounted for 17.5 percent. - National Health Expenditure Accounts (NHEA), USA.
The analysts estimate the Global BPO market in Public sector is set to grow at a CAGR (Compound Annual Growth Rate) of 6.0% over the period 2014-2019.
BPO is a segment of outsourcing, which consists of subcontracting certain business processes of an organization to a third-party vendor that has expertise in the required domain.
The Global BPO market in the Public sector is witnessing high growth because of the increased collaboration of IT services in the BPO sector. Automation is increasingly being adopted to mitigate productivity problems and to control rising costs.
IT-enabled healthcare BPO were one of the earliest services that were outsourced to India. The country has a competent and efficient workforce pool trained specifically in this domain.
For majority of the global outsourcers, India is the first choice for outsourcing healthcare BPO. India has proven capabilities in healthcare BPO and the market has matured substantially.
Some of the prominent healthcare business process outsourced to India include, but not limited to medical billing and coding, medical transcription, healthcare software consulting and services, etc and much more. India has the necessary skills, talent, and technology to provide a wide range of BPO services that cater to the healthcare industry.