hospital outsourcing market
Healthcare Services

Hospital Outsourcing Market Forecast 2023-2027 By The Business Research Company

The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company’s hospital outsourcing market report forecasts the hospital outsourcing market size to grow to $612.24 Billion by 2027, with a CAGR (compound annual growth rate) of 13%.

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Hospital Outsourcing Market Size Forecast
The global hospital outsourcing market is expected to grow from $327.9 billion in 2022 to $375.1 billion in 2023 at a compound annual growth rate (CAGR) of 14.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The hospital outsourcing market size is expected to grow to $612.24 billion in 2027 at a CAGR of 13.0%.

North America held the largest hospital outsourcing market share.

Key Hospital Outsourcing Market Driver ­– Increase In Diabetic Patient Flow In Hospitals
For instance, according to the International Diabetics Federation (IDF) report, a Belgium-based diabetic organization, in the year 2021, approximately 537 million adults in-between the age group 20-79 years were living with diabetes and it is estimated to rise to 643 million by 2030 and 783 million by 2045. Therefore, the increase in diabetic patient flow in hospitals is driving the growth of the hospital outsourcing market.

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Key Hospital Outsourcing Market Trend – Technological Advancement
Major companies operating in the hospital outsourcing sector are focused on introducing technological innovations to sustain their position in the market. For instance, in May 2020, HSG Advisors, a US-based national healthcare consulting firm, launched an advanced Virtual Health consulting service which can be used in hospitals, and healthcare systems. This virtual health service helps doctors to visit patients virtually for regular checkups. This is based on AI (artificial intelligence) technology, which helps to book appointments easily and allocate time slots with doctors.

Hospital Outsourcing Market Segment
1) By Hospital Type: Private, Public
2) By Hospital Size: Small and Medium Hospitals, Large Hospitals
3) By Services: Healthcare IT, Clinical Services, Business Services, Transportation Services, Other Services
4) By End-Users: Nursing Homes and Assisted Living, Speciality Hospitals, General Medical and Surgical Hospitals, Emergency and Other Outpatient Care Centers, Other End Users

Hospital Outsourcing Market Major Players and Strategies
Major players in the hospital outsourcing market are AllScripts Healthcare Solutions Inc., Cerner Corporation, Sodexo S.A., LogistiCare Solutions LLC, The Allure Group, Aramark Corporation, Alere Inc., Flatworld Solution, Integrated Medical Transport, ABM Industries Inc., Abbott Laboratories, 3M Company (3M Health Information Systems), and TriMedx LLC.

In March 2021, Omega Healthcare, a US-based company operating in outsourced revenue cycle management and other hospital support services, acquired Himagine Solutions Inc. for an undisclosed amount. Through this acquisition, Omega Healthcare aims to expand its service capabilities and the ability to service clients globally with a more integrated end-to-end solution. Additionally, Omega healthcare also aims to gain Himagine’s expertise in clinical documentation improvement (CDI) for coding audits, and chart abstraction for medical registries including United States cancer and trauma registries. Himagine Solutions Inc. is a US-based company that provides hospital outsourcing services such as medical coding, coding audit, registry management, and others.

The Hospital Outsourcing Global Market Report 2023 covers regional data on hospital outsourcing market size, hospital outsourcing market trends and drivers, opportunities, strategies, and hospital outsourcing market competitor analysis. The countries covered in the hospital outsourcing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Hospital outsourcing is a process in which some processes of a hospital are assigned to another vendor or a smaller facility that has expertise and specialization in the specific area. This helps to provide support to hospital processes and smooth running of the hospitals.

View More Reports Related To The Hospital Outsourcing Market –
Hospitals And Outpatient Care Centers Global Market Report 2023
Hospitalization Insurance Global Market Report 2023
Hospital Supplies Global Market Report 2023

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