# Offshoring * **Definition:** Offshoring in healthcare refers to the practice of relocating certain healthcare services or processes, such as medical billing, telemedicine, or clinical trials, to another country to reduce costs, access specialized skills, or improve efficiency. * **Taxonomy:** CTO Topics / Offshoring ## News * Selected news on the topic of **Offshoring**, for healthcare technology leaders * 1.7K news items are in the system for this topic * Posts have been filtered for tech and healthcare-related keywords | Date | Title | Source | | --- | --- | --- | | 5/16/2025 | [**Health & Wellness Devices Market Forecast to Surpass Revenues of $900 Billion by 2030**](https://finance.yahoo.com/news/health-wellness-devices-market-forecast-132000785.html) | [[Yahoo Finance]] | | 12/5/2024 | [**eClinical Solutions Market to Grow by USD 12.77 Billion (2024-2028), Rising Drug Clinical Trials Drive Revenue, Report Highlights AI Impact on Trends - Technavio**](https://www.prnewswire.com/news-releases/eclinical-solutions-market-to-grow-by-usd-12-77-billion-2024-2028-rising-drug-clinical-trials-drive-revenue-report-highlights-ai-impact-on-trends---technavio-302322403.html) | [[PR Newswire]] | | 11/13/2024 | [**CRO Summit Chair Muses On The Future Of CROs - Clinical Leader**](https://www.clinicalleader.com/doc/cro-summit-chair-muses-on-the-future-of-cros-0001) | [[Clinical Leader]] | | 11/12/2024 | [**Healthcare BPO Market to Grow by USD 17.30 Billion (2024-2028), Driven by Focus on ...**](https://www.prnewswire.com/news-releases/healthcare-bpo-market-to-grow-by-usd-17-30-billion-2024-2028-driven-by-focus-on-reducing-operational-costs-ai-powered-report-highlights-market-transformation---technavio-302302321.html) | [[PR Newswire]] | | 9/2/2024 | [**Biomarker Discovery Outsourcing Services Market Robust Expansion is expected to 2031**](https://www.whatech.com/og/markets-research/industrial/874018-biomarker-discovery-outsourcing-services-market-robust-expansion-is-expected-to-2031.html) | whatech.com | | 8/30/2024 | [**Healthcare Payer Services Market to Reach USD 129.16 Billion by 2032 As Revealed In New Report**](https://www.whatech.com/og/markets-research/medical/873618-healthcare-payer-services-market-to-reach-usd-129-16-billion-by-2032-driven-by-increasing-demand-for-cost-efficient-and-streamlined-payer-operations.html) | whatech.com | | 8/20/2024 | [**Healthcare Management Service Organization (MSO) Market Set to Grow at a CAGR of 10.9 ...**](https://www.whatech.com/og/markets-research/medical/868864-healthcare-management-service-organization-mso-market-set-to-grow-at-a-cagr-of-10-9-by-2031.html) | whatech.com | | 8/9/2024 | [**Do You Catch Our Drift? Navigating the Waters of Offshoring and Patient Data - Lexology**](https://www.lexology.com/library/detail.aspx?g=37a3dda4-748b-4b16-bac2-1dcc49e677b4) | lexology.com | | 8/8/2024 | [**10 Largest Tech Companies in Colombia - Built In**](https://builtin.com/articles/largest-tech-companies-in-colombia) | builtin.com | | 8/5/2024 | [**Healthcare BPO Market Growth CAGR Of 9.89%: Insights And Leading Players To 2031**](https://www.whatech.com/og/markets-research/medical/862827-healthcare-bpo-market-growth-cagr-of-9-89-insights-and-leading-players-to-2031.html) | whatech.com | | 7/30/2024 | [**The Booming Healthcare Analytical Testing Services Market: Insights and Projections In New Report**](https://www.whatech.com/og/markets-research/medical/861414-the-booming-healthcare-analytical-testing-services-market-insights-and-projections.html) | whatech.com | | 7/30/2024 | [**Clinical Trial Management System (CTMS) Market size is set to grow by USD 1.86 ... - Le Lézard**](https://www.lelezard.com/en/news-21470699.html) | lelezard.com | | 7/20/2024 | [**Healthcare Business Process Outsourcing (BPO) Market size is set to grow by USD ... - PR Newswire**](https://www.prnewswire.com/news-releases/healthcare-business-process-outsourcing-bpo-market-size-is-set-to-grow-by-usd-17-29-billion-from-2024-2028--focus-on-reducing-operational-costs-to-boost-the-market-growth-technavio-302200687.html) | [[PR Newswire]] | | 7/20/2024 | [**Healthcare Business Process Outsourcing (BPO) Market Size Is Set To Grow ...**](https://menafn.com/1108460575/Healthcare-Business-Process-Outsourcing-BPO-Market-Size-Is-Set-To-Grow-By-USD-1729-Billion-From-2024-2028-Focus-On-Reducing-Operational-Costs-To-Boost-The-Market-Growth-Technavio) | menafn.com | | 7/16/2024 | [**Claims Processing Outsourcing India: Cynergy BPO on CX, Operating Efficiency, and Compliance**](https://insurance-edge.net/2024/07/16/claims-processing-outsourcing-india-cynergy-bpo-on-cx-operating-efficiency-and-compliance/) | insurance-edge.net | | 7/16/2024 | [**United States Healthcare BPO Market Advancements Highlighted by Report Analysis, Size ...**](https://www.whatech.com/og/markets-research/medical/857204-united-states-healthcare-bpo-market-report-analysis-size-share-2024-32) | whatech.com | | 7/16/2024 | [**Medical Affairs Outsourcing Market Growth Analysis and Forecasts 2023-2032 In New Report**](https://www.whatech.com/og/markets-research/medical/857350-medical-affairs-outsourcing-market-growth-analysis-and-forecasts-2023-2032) | whatech.com | | 7/16/2024 | [**Medical Affairs Outsourcing Market Growth Analysis and Forecasts 2023-2032 In New Report**](https://www.whatech.com/og/markets-research/medical/857350-medical-affairs-outsourcing-market-growth-analysis-and-forecasts-2023-2032/amp) | whatech.com | | 7/10/2024 | [**Healthcare BPO Market: $395.3B to $626.6B Growth Forecast (2024-2029) - MarketsandMarkets™**](https://www.globenewswire.com/news-release/2024/07/10/2911104/0/en/Healthcare-BPO-Market-395-3B-to-626-6B-Growth-Forecast-2024-2029-MarketsandMarkets.html) | [[Globe Newswire]] | | 7/3/2024 | [**Healthcare Revenue Cycle Management Market Advancements Highlighted by Trend ... - WhaTech**](https://www.whatech.com/og/markets-research/it/851632-healthcare-revenue-cycle-management-market-trend-forecast-till-2032) | whatech.com | | 7/3/2024 | [**Treasury seeks tighter rules on US investment in China tech - Roll Call**](https://rollcall.com/2024/07/03/treasury-seeks-tighter-rules-on-us-investment-in-china-tech/) | rollcall.com | | 6/28/2024 | [**TruBridge Ranked as a Top Provider by Black Book in Its 2024 Report of Top Client-Rated Financial and RCM Solutions**](https://www.lelezard.com/en/news-21436481.html) | lelezard.com | | 6/18/2024 | [**Microsoft admits no guarantee of sovereignty for UK policing data**](https://www.computerweekly.com/news/366589152/Microsoft-admits-no-guarantee-of-sovereignty-for-UK-policing-data) | [[Computer Weekly]] | | 5/31/2024 | [**Smoothening Healthcare Revenue Cycle Management: Addressing Staffing Shortfalls**](https://www.healthtechzone.com/topics/healthcare/articles/2024/05/31/459728-smoothening-healthcare-revenue-cycle-management-addressing-staffing-shortfalls.htm) | healthtechzone.com | | 3/2/2008 | [**Offshoring Doubles, But Political Focus on Retraining Workers**](https://www.npr.org/2008/03/03/87851332/offshoring-doubles-but-political-focus-on-retraining-workers) | [[NPR]] | ## Topic Overview (Some LLM-derived content — please confirm with above primary sources) ### Key Players - **Yempo**: An offshoring solutions provider specializing in accounting, finance, and IT services, leveraging Philippine talent. - **Virtual Employee (VE)**: An outsourcing company transforming the global outsourcing industry through innovative strategies and AI. - **Pharmaceutical Companies**: Organizations that develop, produce, and market drugs, increasingly shifting to outsourcing models. - **Managed Services Providers**: Companies that offer outsourced management of specific business functions, including IT and healthcare services. - **CMC Global**: A Vietnamese technology provider focusing on IT solutions and offshoring services. - **Cynergy BPO**: A key player in claims processing outsourcing, leveraging India's technological capabilities and skilled workforce. - **Accenture**: A global professional services company providing consulting and processing services, including healthcare BPO. - **Tata Consultancy Services**: An Indian multinational IT services and consulting company, heavily involved in healthcare outsourcing. - **Thrive**: Global technology outsourcing provider specializing in cybersecurity, cloud, and IT managed services, known for multiple acquisitions to enhance service delivery. - **Watershore**: A service provider that has expanded its offerings to include comprehensive accounting and bookkeeping solutions aimed at enhancing financial operations. - **Cognizant**: A multinational corporation that provides IT services, including healthcare BPO, focusing on digital transformation and operational efficiency. - **Functional Service Providers (FSPs)**: Companies that offer specific services within the clinical trial process, as opposed to full-service outsourcing. - **Contract Research Organizations (CROs)**: Firms that provide outsourced research services to the pharmaceutical and biotechnology industries. - **DME Service Solutions**: Achieved HITRUST certification, focusing on high standards of data security and operational efficiency in healthcare outsourcing. ### Partnerships and Collaborations - **Healthcare Payers and IT Solutions Providers**: Healthcare payers are increasingly adopting outsourcing services to enhance operational efficiency and manage claims volume. - **IVD Companies and Contract Manufacturers**: Outsourcing production to specialized manufacturers allows IVD companies to focus on R&D, driven by technological advancements. - **Watershore**: Collaborates with various businesses to provide customized accounting solutions that enhance financial accuracy and operational efficiency. - **Hackensack Meridian Health and Apollo Hospitals**: A partnership aimed at enhancing nursing supply and improving administrative and clinical processes through technology. - **Apple and Chinese manufacturers**: Collaboration to leverage expertise in material science while maintaining strict quality control. - **Carenet Health**: Utilizes advanced AI and 24/7 support in its new facility in the Philippines to enhance healthcare engagement. - **DME Service Solutions and AAHomecare**: Partnership aimed at enhancing quality care and operational efficiency in the homecare industry. - **Telemedicine and Decentralized Trials**: Collaborations that integrate telemedicine into clinical trials, improving patient-centric models. - **Pharmaceutical Collaborations**: Partnerships between pharmaceutical companies, research institutes, and CROs to enhance drug development and market adoption. - **CROs and Pharmaceutical Companies**: Collaborations are driving the growth of Clinical Data Management Systems (CDMS) and enhancing the efficiency of clinical trials. - **CMC Global and Databricks**: Partnership to offer advanced Data and AI consulting solutions. - **TruBridge**: Partners with healthcare organizations to deliver technology-driven RCM solutions that improve patient care outcomes. ### Innovations, Trends, and Initiatives - **Nearshore and Onshore Outsourcing**: A growing trend in the U.S. healthcare BPO market, driven by data security and regulatory compliance concerns. - **Telehealth Expansion**: Growth in telehealth services contributing to the demand for outsourcing in healthcare. - **Outsourcing Trends**: The pharmaceutical industry is increasingly outsourcing drug discovery processes to reduce costs and leverage specialized expertise. - **Cloud Computing in Healthcare BPO**: Significant trend enabling organizations to store critical information remotely, reduce costs, and enhance collaboration. - **Revenue Cycle Management (RCM) Outsourcing**: Growing trend in healthcare to outsource billing and operational tasks to improve efficiency. - **Radiology as a Service (RaaS)**: Outsourcing radiology functions to reduce operational costs and improve service delivery. - **Value-Based Care Shift**: Healthcare providers are increasingly adopting BPO services that support data analysis and patient management as they transition from fee-for-service to value-based care models. - **Decentralized Clinical Trials**: A trend towards remote patient engagement and data collection, reshaping CRO roles. - **Healthcare BPO Growth**: Projected to grow from USD 395.3 billion in 2024 to USD 626.6 billion by 2029, driven by a CAGR of 9.7%. - **AI Integration**: The incorporation of artificial intelligence and automation in healthcare BPO processes is enhancing accuracy and efficiency, particularly in medical billing and claims processing. - **Telemedicine**: Increasingly essential for extending healthcare access, particularly in remote areas, driven by technological advancements. - **AI and Automation in RCM**: Integration of AI and automation technologies in revenue cycle processes to enhance efficiency and reduce costs. - **AI and Automation**: Increasing adoption of AI and automation technologies in healthcare to improve operational efficiency. - **Digital Skills Demand in APAC**: A significant increase in demand for digital skills in the Asia-Pacific region, positioning it as a leader in tech talent. - **AI and Automation in Revenue Cycle Management**: Healthcare organizations are transitioning to AI-powered platforms for improved efficiency and cost control. - **Healthcare RCM Growth**: The healthcare revenue cycle management market is projected to grow significantly, driven by the need for workflow optimization and regulatory compliance. - **Digitalization in Clinical Trials**: The rise of digital solutions and decentralized trials is shaping the Clinical Trial Management Systems (CTMS) market. ### Challenges and Concerns - **Data Security**: Concerns regarding patient data security when offshoring services, especially under HIPAA regulations. - **Hidden Costs**: Potential hidden costs associated with outsourcing that can undermine anticipated savings. - **Compliance Issues**: Need for compliance with stringent healthcare regulations when utilizing offshore resources. - **Operational Costs**: Increasing operational costs and the demand for quality patient care are pushing providers to explore outsourcing solutions. - **Regulatory Compliance**: Outsourcing partners must navigate complex regulations, which can lead to significant challenges in the outsourcing industry. - **Political and Social Scenarios**: Can negatively impact promotions and sales efforts in the data entry outsourcing market. - **Legal Risks of AI**: The integration of AI in outsourcing raises concerns about compliance with emerging regulations and existing laws, potentially leading to legal challenges. - **Data Privacy Concerns**: Rising concerns over patient data privacy due to cybercrime pose challenges to market expansion in healthcare outsourcing. - **Language Barriers and Cultural Knowledge**: Critical challenges for global healthcare BPO providers that can hinder operational efficiency. - **Talent Shortages**: A shortage of skilled personnel to manage complex digital solutions is a significant challenge in the healthcare technology sector. - **Immigration Policies**: Stricter immigration policies may hinder international recruitment efforts in healthcare. - **Data Security Risks**: Increased reliance on cloud services poses risks of data disruptions and potential information loss. - **Staffing Shortages**: Healthcare organizations face challenges in maintaining adequate staffing levels, particularly in revenue cycle management. - **Workforce Shortages**: Projected shortages in the U.S. healthcare workforce may hinder the effectiveness of revenue cycle management processes. - **Supply Chain Disruptions**: Legislative proposals like the Biosecure Act raise concerns about supply chain vulnerabilities in pharmaceutical and biotechnology sectors. - **Rising Denial Rates**: Healthcare executives are concerned about increasing claim denial rates, particularly from Medicare Advantage. ## Related Topics [[Nearshoring]]; [[Outsourcing]]