Market Size of US Healthcare BPO Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 133 Billion |
| Market Size (2029) | USD 231 Billion |
| CAGR (2024 - 2029) | 8.11 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
US Healthcare BPO Market Analysis
The US Healthcare BPO Market size is estimated at USD 133 billion in 2024, and is expected to reach USD 231 billion by 2029, growing at a CAGR of 8.11% during the forecast period (2024-2029).
The United States healthcare BPO market is expected to register a CAGR of 8.11% during the forecast period.
COVID-19's influence on the BPO business was complex and multifaceted, and many BPO firms were still adopting changes to accommodate its consequences. The BPO business was extremely fortunate to be able to operate digitally, allowing BPO firms to continue to operate with minimal health and safety issues for employees. According to the study article published in May 2023, despite the devastating impact of the COVID-19 epidemic, BPO organizations continue to adapt to new challenges. BPO organizations had to adjust to changes in consumer behavior, migrate to remote work arrangements, and create ways to provide services that require remote access to specialized tools and equipment.
The United States healthcare system favors new opportunities and growth due to the quick adoption of advanced technologies, which include pharmacies, pharmaceutical companies, medical equipment manufacturers, and medical care facilities. This industry's infrastructure relies on specialized professionals who oversee these operations. High awareness levels about outsourcing healthcare IT services and the strong presence of prominent market players in the region are attributed to the regional market's growth.
Another key driving factor is the increasing strategic actions of leading firms, such as product launches, alliances, and others, which are expected to drive market expansion throughout the forecast period. For example, in December 2021, Teleperformance announced the acquisition of Senture, a major business process outsourcing (BPO) operator for government services in the United States. Additionally, in October 2022, Confie announced the opening of a new service center in Tijuana as part of the ongoing expansion of its business process outsourcing division (BPO). Confie's new facility, the company's second in Mexico, will help support the company's rapid expansion in outsourcing services as well as future growth.
Furthermore, rising government initiatives in the country are anticipated to drive market growth in the country. For instance, in February 2022, the Department of Health and Human Services (HHS) awarded nearly USD 55 million to 29 HRSA-funded health centers to increase healthcare access and quality for underserved populations through virtual care. Virtual care has been a game-changer for patients, especially during the pandemic. Thus, the initiatives by government organizations are expected to drive market growth in the country.
Furthermore, the increasing number of people seeking insurance, pressure to cut healthcare delivery costs, consolidation of the healthcare system, pharmaceutical companies facing patent cliffs, and the mandatory implementation of ICD-10 codes (10th revision of the International Statistical Classification of Diseases and Related Health Problems) are the major factors propelling the growth of the United States healthcare BPO market.
Thus, the market is expected to grow in the United States due to the abovementioned factors, such as various government initiatives and strategic actions by market players. However, data integrity and confidentiality may restrain market growth.
