U.S. Healthcare Outsourcing Market OverviewThe U.S. healthcare outsourcing market was valued at $52.9 billion in 2017 and is forecast to reach $66.3 billion by 2023, growing at a CAGR of 3.8% from 2018 to 2023.
Many new multi-specialty hospital chains have come up with services related to care management, healthcare plan development, channel management, and risk assessment, which are in high demand.
Outsourcing is also helpful in improving the financial results by reducing administrative costs and increasing revenues, efficiency, competency, and service quality.
The stringent regulations imposed by the Health Insurance Portability and Accountability Act (HIPAA) of 1996 towards the establishment of national standards for electronic health care transactions and national identifiers for providers, health insurance plans, and employers has boosted the market growth.
The standards and regulations are mandatory and require infrastructure which hospitals lack, thus making outsourcing inevitable, and driving the growth of the U.S. healthcare outsourcing market.
The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies.