The Business Research Company’s global market reports provide comprehensive analysis on the various markets in 27 industries across 60 geographies.

 According to The Business Research Company’s Global Market Report 2023, the worldwide payer services market will increase from $116.52B in 2022 to $134.65B in 2023, with a 15.6% CAGR. Anticipated market size in 2027 is $239.49B at a 15.5% CAGR.

What was the major driver in the payer services market?
Rising healthcare fraud prompts the payer services sector to enhance security measures. Healthcare fraud involves various schemes, including illicit sales of unnecessary prescription drugs and falsifying medical billing and records. The industry faces substantial financial losses due to fraud. For example, the National Health Care Anti-Fraud Association estimated a $300 billion loss in the USA. Consequently, escalating healthcare fraud drives demand for robust security systems, fostering payer services market growth.

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What was the key trend in the payer services market?
Growing adoption of advanced technology products gains prominence in payer services. This results in enhanced price clarity, cost-effective services, improved resource utilization, expanded quality access, and increased member satisfaction. For example, in January 2022, Jopari, a US-based health tech firm, introduced an All-Payer Attachments model, offering standardized, efficient, and compliant electronic Attachments for All Payers. This fosters transparency and cost savings for payers.

Which was the largest region in the payer services market?
North America was the largest region in the payer services market in 2022. Western Europe was the second largest region in the global payer services market share. The regions covered in the payer services market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

Who are the payer services market prominent players?
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.

Key payer services market segments
The global payer services market is segmented –
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, Other Applications
3)By End-User: Public Payers, Private Payers

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The Payer Services Global Market Report 2023  provides a comprehensive overview on the payer services market size, trends and drivers, opportunities, strategies, and companies analysis. Through our reports businesses can effectively analyze data and frame well-informed strategies

View More Related Reports –
Services Global Market Report 2023
Healthcare Payer Solution Global Market Report 2023
Healthcare Reimbursement Global Market Report 2023

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