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Payer Services Global Market Report 2021: COVID-19 Growth and Change to 2030

  • ID: 5321383
  • Report
  • May 2021
  • Region: Global
  • The Business Research Company

FEATURED COMPANIES

  • Aetna, Inc.
  • Anthem
  • Anthem Inc.
  • CIGNA Corp.
  • Concentrix Corporation
  • Group Health Cooperative
  • MORE
Payer Services Global Market Report 2021: COVID-19 Growth and Change to 2030 provides the strategists, marketers and senior management with the critical information they need to assess the global payer services market.

This report focuses on the payer services market which is experiencing strong growth. The report gives a guide to the payer services market which will be shaping and changing our lives over the next ten years and beyond, including the markets response to the challenge of the global pandemic.

Reasons to Purchase
  • Gain a truly global perspective with the most comprehensive report available on this market covering 12+ geographies.
  • Understand how the market is being affected by the coronavirus and how it is likely to emerge and grow as the impact of the virus abates.
  • Create regional and country strategies on the basis of local data and analysis.
  • Identify growth segments for investment.
  • Outperform competitors using forecast data and the drivers and trends shaping the market.
  • Understand customers based on the latest market research findings.
  • Benchmark performance against key competitors.
  • Utilize the relationships between key data sets for superior strategizing.
  • Suitable for supporting your internal and external presentations with reliable high quality data and analysis
  • Report will be updated with the latest data and delivered to you within 3-5 working days of order.
Description:

Where is the largest and fastest growing market for the payer services? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The Payer Services market global report answers all these questions and many more.

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 the market’s historic and forecast market growth by geography. It places the market within the context of the wider payer services market, and compares it with other markets.
  • The market characteristics section of the report defines and explains the market.
  • The market size section gives the market size ($b) covering both the historic growth of the market, the influence of the COVID-19 virus and forecasting its growth.
  • Market segmentations break down market into sub markets.
  • The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
  • Competitive landscape gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
  • The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
  • The payer services market section of the report gives context. It compares the payer services market with other segments of the payer services market by size and growth, historic and forecast. It analyses GDP proportion, expenditure per capita, payer services indicators comparison.
Scope

Markets Covered:

1) By Outsourcing Services: Business Process Outsourcing Services; Knowledge Process Outsourcing Services; Information Technology Outsourcing Services; 2) By Application: Revenue Cycle Management; Healthcare Reimbursement; Medical Billing Outsourcing; Others 3) By End-User: Public Payers; Private Payers;

Companies Mentioned: United Health Group; Anthem; Concentrix Corporation; United Healthcare; Anthem Inc.

Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA

Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa

Time series: Five years historic and ten years forecast.

Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,

Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.

Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • Aetna, Inc.
  • Anthem
  • Anthem Inc.
  • CIGNA Corp.
  • Concentrix Corporation
  • Group Health Cooperative
  • MORE
1. Executive Summary

2. Payer Services Market Characteristics

3. Payer Services Market Trends and Strategies

4. Impact of COVID-19 on Payer Services

5. Payer Services Market Size and Growth
5.1. Global Payer Services Historic Market, 2015-2020, $ Billion
5.1.1. Drivers of the Market
5.1.2. Restraints on The Market
5.2. Global Payer Services Forecast Market, 2020-2025F, 2030F, $ Billion
5.2.1. Drivers of the Market
5.2.2. Restraints on the Market

6. Payer Services Market Segmentation
6.1. Global Payer Services Market, Segmentation By Outsourcing Services, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Business Process Outsourcing Services
  • Knowledge Process Outsourcing Services
  • Information Technology Outsourcing Services
6.2. Global Payer Services Market, Segmentation By Application, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Revenue Cycle Management
  • Healthcare Reimbursement
  • Medical Billing Outsourcing
  • Others
6.3. Global Payer Services Market, Segmentation By End-User, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Public Payers
  • Private Payers
7. Payer Services Market Regional and Country Analysis
7.1. Global Payer Services Market, Split By Region, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
7.2. Global Payer Services Market, Split By Country, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

8. Asia-Pacific Payer Services Market
8.1. Asia-Pacific Payer Services Market Overview
  • Region Information, Impact of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific Payer Services Market, Segmentation By Outsourcing Services, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
8.3. Asia-Pacific Payer Services Market, Segmentation By Application, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

9. China Payer Services Market
9.1. China Payer Services Market Overview
9.2. China Payer Services Market, Segmentation By Outsourcing Services, Historic and Forecast, 2015-2020, 2020-2025F, 2030F,$ Billion
9.3. China Payer Services Market, Segmentation By Application, Historic and Forecast, 2015-2020, 2020-2025F, 2030F,$ Billion

10. India Payer Services Market
10.1. India Payer Services Market, Segmentation By Outsourcing Services, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
10.2. India Payer Services Market, Segmentation By Application, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

11. Japan Payer Services Market
11.1. Japan Payer Services Market, Segmentation By Outsourcing Services, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
11.2. Japan Payer Services Market, Segmentation By Application, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

12. Australia Payer Services Market
12.1. Australia Payer Services Market, Segmentation By Outsourcing Services, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
12.2. Australia Payer Services Market, Segmentation By Application, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

13. Indonesia Payer Services Market
13.1. Indonesia Payer Services Market, Segmentation By Outsourcing Services, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
13.2. Indonesia Payer Services Market, Segmentation By Application, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

14. South Korea Payer Services Market
14.1. South Korea Payer Services Market, Segmentation By Outsourcing Services, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
14.2. South Korea Payer Services Market, Segmentation By Application, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

15. Western Europe Payer Services Market
15.1. Western Europe Payer Services Market Overview
15.2. Western Europe Payer Services Market, Segmentation By Outsourcing Services, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
15.3. Western Europe Payer Services Market, Segmentation By Application, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

16. UK Payer Services Market
16.1. UK Payer Services Market, Segmentation By Outsourcing Services, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
16.2. UK Payer Services Market, Segmentation By Application, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

17. Germany Payer Services Market
17.1. Germany Payer Services Market, Segmentation By Outsourcing Services, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
17.2. Germany Payer Services Market, Segmentation By Application, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

18. France Payer Services Market
18.4. France Payer Services Market, Segmentation By Outsourcing Services, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
18.5. France Payer Services Market, Segmentation By Application, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

19. Eastern Europe Payer Services Market
19.1. Eastern Europe Payer Services Market Overview
19.2. Eastern Europe Payer Services Market, Segmentation By Outsourcing Services, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
19.3. Eastern Europe Payer Services Market, Segmentation By Application, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

20. Russia Payer Services Market
20.1. Russia Payer Services Market, Segmentation By Outsourcing Services, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
20.2. Russia Payer Services Market, Segmentation By Application, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

21. North America Payer Services Market
21.1. North America Payer Services Market Overview
21.2. North America Payer Services Market, Segmentation By Outsourcing Services, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
21.3. North America Payer Services Market, Segmentation By Application, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

22. USA Payer Services Market
22.1. USA Payer Services Market Overview
22.2. USA Payer Services Market, Segmentation By Outsourcing Services, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
22.3. USA Payer Services Market, Segmentation By Application, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

23. South America Payer Services Market
23.1. South America Payer Services Market Overview
23.2. South America Payer Services Market, Segmentation By Outsourcing Services, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
23.3. South America Payer Services Market, Segmentation By Application, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

24. Brazil Payer Services Market
24.1. Brazil Payer Services Market, Segmentation By Outsourcing Services, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
24.2. Brazil Payer Services Market, Segmentation By Application, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

25. Middle East Payer Services Market
25.1. Middle East Payer Services Market Overview
25.2. Middle East Payer Services Market, Segmentation By Outsourcing Services, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
25.3. Middle East Payer Services Market, Segmentation By Application, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

26. Africa Payer Services Market
26.1. Africa Payer Services Market Overview
26.2. Africa Payer Services Market, Segmentation By Outsourcing Services, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
26.3. Africa Payer Services Market, Segmentation By Application, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

27. Payer Services Market Competitive Landscape and Company Profiles
27.1. Payer Services Market Competitive Landscape
27.2. Payer Services Market Company Profiles
27.2.1. United Health Group
27.2.1.1. Overview
27.2.1.2. Products and Services
27.2.1.3. Strategy
27.2.1.4. Financial Performance
27.2.2. Anthem
27.2.2.1. Overview
27.2.2.2. Products and Services
27.2.2.3. Strategy
27.2.2.4. Financial Performance
27.2.3. Concentrix Corporation
27.2.3.1. Overview
27.2.3.2. Products and Services
27.2.3.3. Strategy
27.2.3.4. Financial Performance
27.2.4. United Healthcare
27.2.4.1. Overview
27.2.4.2. Products and Services
27.2.4.3. Strategy
27.2.4.4. Financial Performance
27.2.5. Anthem Inc.
27.2.5.1. Overview
27.2.5.2. Products and Services
27.2.5.3. Strategy
27.2.5.4. Financial Performance

28. Key Mergers and Acquisitions in the Payer Services Market

29. Payer Services Market Future Outlook and Potential Analysis

30. Appendix
30.1. Abbreviations
30.2. Currencies
30.3. Research Inquiries
30.4. About the Publisher
30.5. Copyright and Disclaimer
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • Aetna, Inc.
  • Anthem
  • Anthem Inc.
  • CIGNA Corp.
  • Concentrix Corporation
  • Group Health Cooperative
  • MORE
Major players in the payer services market are United Health Group, Anthem, Concentrix Corporation, United Healthcare, Anthem Inc., Aetna, Inc., CIGNA Corp., HealthPartners, Blue Cross Blue Shield of Massachusetts, and Group Health Cooperative.

The global payer services market is expected to grow from $93.905 billion in 2020 to $101.764 billion in 2021 at a compound annual growth rate (CAGR) of 8.4%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $183.723 billion in 2025 at a CAGR of 16%.

The payer services market consists of sales of payer services by entities (organizations, sole traders and partnerships) that provide healthcare services that are outsourced by healthcare insurance providers/payers. These outsourcing solutions help the payers to streamline their business processes and deliver better services to their customers. Only goods and services traded between entities or sold to end consumers are included.

Increased adoption of technologically advanced products is gaining substantial popularity in the payer services market. This has led to improved price transparency, affordable payer services, higher utilization of resources, increasing quality reach, and member satisfaction and loyalty towards the service provider. For instance, in July 2019, Blue Shield California (BSC), with the help of Gemini Health, has built up an online tool to remove out-of-pocket drug spending for individuals. The price transparency tool plots the cost data for accessible suppliers and medical clinics. The innovation recommends lower-cost choices like it coordinates the current drug with lower-cost, dose-equivalent options.

The payer services market covered in this report is segmented by outsourcing services into business process outsourcing services; knowledge process outsourcing services; information technology outsourcing services. It is also segmented by application into revenue cycle management; healthcare reimbursement; medical billing outsourcing; others and by end-user into public payers; private payers.

In April 2020, Molina, a US-based company engaged in providing managed care in the field of medicare and medicaid programs, announced that it will purchase Magellan Complete Care (MCC), a managed healthcare organization, in a deal worth about $820 million. The acquisition is expected to expand Molina’s geographic footprint in its core businesses of managed medicaid. Magellan Complete Care (MCC) is a US-based company offering care management solutions.

The increase in healthcare frauds is expected to drive the payer services market for tightening its security systems. Healthcare fraud includes malpractices such as individuals obtaining subsidized or fully-covered prescription pills that are actually unneeded and then selling them on the black market for a profit billing by practitioners for care that they never rendered, filing duplicate claims for the same service rendered, altering the dates and modifying medical records. The healthcare industry continues to suffer losses attributed to frauds and errors. For instance, according to the National Health Care Anti-Fraud Association, in the USA the loss from healthcare fraud was estimated to be $300 billion in 2018. Therefore, increasing healthcare fraud in the healthcare industry is propelling the demand for rigid security systems, thereby driving the growth of the payer services market.

The rising incidences of data breaches and loss of confidentiality have always been a major challenge in the payer service industry. In recent years, the healthcare sector has always been at the forefront in cases of breaching privacy and the resulting loss of confidential data. The healthcare sector accounted for 45% of data breaches in 2019 costing the sector more than $17.76 billion. Moreover, in August 2019, Avenna Healthcare in Georgia detected a phishing attack on 166,077 patients in February and began notification of a potential breach. This was caused due to improper maintenance of information leading to vulnerable cyber-attack. Rising incidences of data breaches and loss of confidentiality are thus hampering the growth of the payer service market.
Note: Product cover images may vary from those shown

A selection of companies mentioned in this report includes:

  • United Health Group
  • Anthem
  • Concentrix Corporation
  • United Healthcare
  • Anthem Inc.
  • Aetna, Inc.
  • CIGNA Corp.
  • HealthPartners
  • Blue Cross Blue Shield of Massachusetts
  • Group Health Cooperative
Note: Product cover images may vary from those shown

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