Healthcare BPO market to hit $282Bn by 2032 — Allied Market Research
DELAWARE, UNITED STATES — The healthcare business process outsourcing (BPO) industry is set to grow to $282.3 billion by 2032 on the back of a surge in demand for affordable but high-quality patient care.
This marks a compound annual growth rate (CAGR) of 8.7% from 2023 to 2032. Allied Market Research valued the healthcare BPO segment at $121.6 billion in 2022.
Healthcare BPO is a process wherein healthcare providers outsource their non-core tasks to third parties. It offers benefits such as lowering important errors, broadening a company’s services, and boosting productivity.
Allied Market Research cited numerous growth drivers, chief among them is the greater demand for patient-centric healthcare services. Some firms lack in-house expertise, so they turn to outsourcing to fill in the gaps.
The increase in chronic diseases has also triggered hospitals to outsource specialized services. Additionally, government initiatives to reduce healthcare expenses have propelled demand for healthcare BPO offerings.
Backoffice functions, which include accounting and billing, are also expected to drive demand for BPO services in the medical industry.
Amid these rosy forecasts, the research firm warned of data security concerns in the industry. As firms bring their operations to digital platforms, it is imperative to tighten their cybersecurity measures.
