2018 Healthcare Outsourcing Industry Trend

2018 Healthcare Outsourcing Industry Trend

In medical and dental practice management, doctors, nurses and other health professionals must be able to stay focus on saving lives. However, office work and documentation takes up too much time. The more staff you have the more paperwork has to be done not to mention the tedious payroll tasks while also making sure that every patient is well taken care of.

This why many healthcare companies choose to outsource their administrative and general work. Outsourcing in the healthcare services market will continue to rise at a compounded growth rate of 10.2% annually. This figure is projected from 2017 to 2020. In fact, the total revenues are estimated to reach around $312.43 billion in 2020.

The healthcare-related companies such as HMO and medical practitioners outsource a wide range of tasks such as member enrollment, physician enrollment, claims processing, medical billing, medical coding, mailroom services, HR Services, medical transcription, finance & accounts, and customer care.

The market for healthcare devices such as electronics used to measure blood sugar level is also seen to continue its growth with a CAGR of 4.6% from 2016 to 2021. This means that it could reach $343 billion by 2021. The users of these devices like a digital blood pressure monitor will need technical support agents to help them with their specific needs.

Another outsourcing service with a growing demand is the customer service reps in the medical field especially now that there is a ride on mobile health apps. The market for mobile health apps is expected to reach USD 111.8 billion by 2025.

Patients can also use healthcare apps that let them contact their medical providers from anywhere in the world. Even doctors and nurses can monitor their housebound patients with special apps and devices. From fitness apps to electronic medical records for patients with chronic diseases, users will seek assistance from customer service representatives.

These healthcare related outsourcing services are only expected to rise as people demand better and more convenient healthcare services.

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