Call center outsourcing is the latest buzz in the health care sector. The health care sector faces significant challenges in this rapidly changing business scenario. Factors, such as business stability, cost containment, and health care compliance acts, are playing a pivotal role in ascertaining business sustainability. It is, therefore, important for health care businesses to have a definite structured plan and methods to effectively meet these challenges.
A medical as well as disease management tool is expected to play a vital role in managing health care delivery. Outsourcing health care services to BPOs in India can integrate programs fragmented across various platforms into a unified health care information and exchange management system.
Types of Healthcare BPO Verticals
Companies are increasingly outsourcing their processes to Indian call center services companies due to escalating health care costs, low manpower availability, and the absence of quality vendors. The three major divisions of health care outsourcing are pharmaceutical, payer, and provider. While payers are the companies engaged in health care insurance business; providers are the hospitals and clinics. Pharmaceuticals are the companies that are majorly looking to outsource their functions and processes to sustain in this competitive business environment.
Trends in Indian Healthcare BPO Industry
The health care business process outsourcing market is currently expanding at a compound annual growth rate of about 21.4% across the globe. In this, pharmaceutical outsourcing occupies the maximum share of nearly 64.3%. However, the sector is forecasted to expand only at a CAGR of approximately 14.6% between the years 2011 and 2016, as the market is highly saturated. Health care service providers are expected to project the highest CAGR of nearly 31.9% between 2011 and 2016. This is attributed to adaptation from ICD 9 coding arrangement to ICD 10 coding practice. The outsourcing market for health care payer is also expected to grow by 30% in the predicted period.
Major Outsourcing Destinations
The largest health care outsourcing source is the U.S., trailed by the European countries. The most favored destinations of off-shoring in provider and payer outsourcing health care domain remains India. For pharmaceutical outsourcing, on-shoring is the most favored choice. Another upcoming destination for payer & provider outsourcing is Philippines.
To conclude, call center in India is the most favorable destination for provider & payer outsourcing. This is because this country, as compared to other outsourcing nations, has better availability of highly skilled health care professionals at reasonably affordable costs.