Global healthcare payer BPO market to hit $34.2B: 6 things to know

By 2022, the global healthcare payer BPO market is expected to experience significant growth, according to a Grand View Research report.

Here are six things to know:

1. The market is expected to hit $34.2 billion by 2022.

2. The shift to ICD-10 codes, Affordable Care Act growth and an increasing geriatric population, among others, are fueling market growth.

3. The American Health Insurance Plans estimated the United States spent $2.7 trillion on healthcare in 2013.

4. The claims process services segment held a 55 percent market share in 2014.

5. Asia Pacific is projected to be the fastest growing segment to 2022.

6. Market players include Xerox, Genpact Limited, Wipro Limited, Capgemini, Hinduja Global Solutions, HCL Technologies, Cognizant Technology Solutions, EXLService Holdings and Accenture.

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