North America Healthcare Payer Services Market Worth $83.0 Billion By 2030

North America Healthcare Payer Services Market Growth & Trends

The North America healthcare payer services market is expected to reach USD 83.0 billion by 2030, expanding at a CAGR of 7.3%, from 2023 to 2030, according to a new report by Grand View Research, Inc. The main drivers of this market are the rising demand for healthcare IT, changes in regulatory research, the presence of several healthcare policies, the growing disease burden, and the increasing adoption of health insurance policies.

The market for healthcare payer services in North America has been severely impacted by the COVID-19 outbreak. To overcome this, healthcare payer services have accelerated the adoption of telehealth, telemedicine hubs, and virtual care in North America. It has created opportunities for healthcare payers to offer new services and reach more patients, particularly in rural areas or among those with mobility issues. Telehealth allows for remote consultations and remote monitoring of patients, which can help reduce the burden on healthcare providers and improve the overall accessibility of healthcare.

The use of artificial intelligence (AI) and machine learning (ML) technologies can also help healthcare payers identify at-risk populations & develop targeted interventions. By analyzing large amounts of data, these technologies can help payers to identify patterns and predict patient outcomes, which can lead to improved patient outcomes, reduced costs, and increased efficiency in healthcare delivery. In addition, AI can be used to improve the accuracy of diagnoses, reduce misdiagnosis, and improve the overall quality of care.

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North America Healthcare Payer Services Market Report Highlights

• U.S. accounted for the largest market share of 79.6% in 2022 and is also anticipated to register the fastest growth of 7.5% during the forecast period.

• ITO Services dominated the service segment with a market share of 51.3 % in 2022. The major growth factors are increasing demand for innovative and advanced technologies, a rise in investment in AI technology, and a rise in involvement in healthcare decisions.

• Provider management services is anticipated to register the fastest growth of 8.6% over the forecast period.

• In September 2022, Accenture announced the acquisition of The Beacon Group, a consulting firm. This would help its growth across the aerospace, technology, healthcare, industrial, and life sciences verticals.

North America Healthcare Payer Services Market Segmentation

Grand View Research has segmented the North America healthcare payer services market on the basis of services, application, end-use, and country:

North America Healthcare Payer Services, Services Outlook (Revenue, USD Million, 2018 - 2030)

• BPO Services

• ITO Services

• KPO Services

North America Healthcare Payer Services, Application Outlook (Revenue, USD Million, 2018 - 2030)

• Claims management services

• Integrated front office service and back office operations

• Member management services

• Provider management services

• Billing and accounts management services

• Analytics and fraud management services

• HR Services

North America Healthcare Payer Services, End-use Outlook (Revenue, USD Million, 2018 - 2030)

• Private Payers

• Public Payers

North America Payer Services Market, By Country Outlook (Revenue, USD Million, 2018 - 2030)

• U.S.

• Canada

List of key players in North America healthcare payer services market

• Cognizant

• Flatworld Solutions

• Accenture

• Xerox Corporation

• WIPRO Ltd.

• Infosys

• IQVIA

• Orion HealthCorp

• Promantra

• Medisys Data Solutions Inc.