Dublin, 23 Feb. 2022 (GLOBE NEWSWIRE) — The “Payer Services Global Market Report 2022, By Outsourcing Services, Application, End-User” report has been added to from ResearchAndMarkets.com offer.
The global payer services market is expected to grow from $101.76 billion in 2021 to $116.52 billion in 2022 at a compound annual growth rate (CAGR) of 14.5%. The market is expected to reach $209.73 billion in 2026 with a CAGR of 15.8%.
The rise in healthcare fraud is expected to prompt the payer services market to strengthen its security systems. Healthcare fraud includes fraudulent practices such as people obtaining subsidized or fully covered prescription pills that are in fact not needed and then reselling them on the black market for profit by charging by practitioners care they never rendered, filing duplicate claims for the same service rendered, changing dates and changing medical records. The healthcare industry continues to suffer losses attributed to fraud and error. For example, according to the National Health Care Anti-Fraud Association, in the United States, losses due to healthcare fraud have been estimated at $300 billion. Hence, the rise in healthcare fraud in the healthcare industry is propelling the demand for rigid security systems, thereby driving the growth of the payment services market.
The increasing incidence of data breaches and loss of privacy has always been a major challenge in the payer services industry. In recent years, the healthcare industry has always been at the forefront of cases of privacy breaches and the resulting loss of confidential data.
The increased adoption of technologically advanced products is gaining popularity in the payer services market. This has led to better price transparency, affordable payment services, increased resource utilization, increased quality reach, and member satisfaction and loyalty to the service provider.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market.
- It traces historical and forecast market growth by geography.
- It places the market in the context of the broader payer services market and compares it to other markets.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size (in billions of dollars) covering both historical market growth, influence of COVID-19 virus and its growth forecast.
- Market segmentations break down the market into sub-markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the market size by geography and compares their historical and forecast growth.
- It covers the growth trajectory of COVID-19 for all regions, major developed countries and major emerging markets.
- The competitive landscape gives a description of the competitive nature of the market, market shares and a description of the major companies.
- The main financial transactions that have shaped the market in recent years are identified.
- The trends and strategies section analyzes the shape of the market coming out of the crisis and suggests how companies can grow as the market recovers.
- The payer services market section of the report provides context.
- It compares the payroll services market with other payroll services market segments by size and growth, historical and forecast.
- It analyzes the proportion of GDP, expenditure per capita, comparison of indicators of paying services.
- By outsourcing services: business process outsourcing services; knowledge process outsourcing services; Information Technology Outsourcing Services
- By application: revenue cycle management; Reimbursement of health care; outsourcing of medical billing; Others
- By end user: public payers; Private payers
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; United States
Regions: Asia Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five-year history and ten-year forecast.
Data: Ratios of market size and growth to related markets, proportions of GDP, expenditure per capita,
Data segmentation: historical and forecast national and regional data, competitor market share, market segments.
- United Health Group
- Concentrix Company
- United Healthcare
- Anthem Inc.
- Aetna, Inc.
- CIGNA Corp.
- Massachusetts Blue Cross Blue Shield
- Group health cooperative
For more information about this report visit https://www.researchandmarkets.com/r/czsre0
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Global Payer Services Market