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Healthcare Payer Services Market size to be worth over USD 140 billion by 2032, Says Graphical Research Powered by GMI

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Selbyville, Delaware, June 11, 2023 (GLOBE NEWSWIRE) —

Healthcare Payer Services Market size to cross USD 140 billion by 2032. The industry growth is driven by increasing demand for innovative solutions to streamline operations, enhance efficiency, and improve patient outcomes to overcome unprecedented challenges faced by the healthcare systems. Healthcare payer services help in managing the financial aspects of healthcare, such as claims processing, billing, customer service, and data analytics.

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The rising healthcare costs and the growing burden of chronic diseases are driving payers to adopt innovative approaches to control expenses while maintaining the quality of care. Payer services enable effective utilization management, fraud detection, and prevention, resulting in significant cost savings for both payers and patients. Moreover, advancements in technology, particularly in artificial intelligence and machine learning.

Evolving regulatory framework to drive KPO services segment

The healthcare payer services market is divided into KPO services, ITO services, and BPO services. The market share from KPO segment will grow at notable rate during 2023 and 2032. KPO services within this sector encompass a wide range of critical activities, including claims processing, medical coding and billing, healthcare analytics, revenue cycle management, risk assessment, and compliance management.

These services require deep industry knowledge, advanced data analytics, and domain expertise to effectively manage the complex financial and administrative aspects of healthcare payer operations. By outsourcing these knowledge-intensive processes to specialized KPO service providers, healthcare payers can streamline their operations, enhance accuracy and efficiency, mitigate risks, and optimize financial outcomes. Additionally, KPO services in the healthcare payer domain enable payers to adapt to evolving regulatory frameworks, navigate complex reimbursement systems, and leverage advanced analytics to identify patterns and trends for better decision-making.

Browse key industry insights spread across 200 pages with 282 market data tables & 16 figures & charts from the report, “Healthcare Payer Services Market Size by Service Type (BPO Services, ITO Services, KPO) By Application (Claims Management Services, Analytics & Fraud Management Services, HR Services), By End-use (Private Payers, Public) & Forecast 2023 – 2032 In detail along with the table of contents:

https://www.gminsights.com/industry-analysis/healthcare-payer-services-market

Public end-use segment to support market progression

The healthcare payer services market is segmented into public and private payers. The healthcare payers services market value from public segment will witness significant expansion through 2032 as public payers are responsible for ensuring accessible and affordable healthcare services to the population. The public healthcare payer services focus on managing the financial aspects, claims processing, eligibility verification, and program administration for these public healthcare programs.

With the increasing healthcare needs of the population, coupled with rising healthcare costs, public payers face significant challenges in maintaining the financial sustainability of their programs while delivering quality care. These services help optimize operations, manage costs, and enhance compliance with regulatory requirements. They also facilitate efficient utilization management, fraud detection, and prevention, ensuring that public funds are utilized appropriately & efficiently.

Economic growth and medical transformation to boost APAC share

Asia Pacific healthcare payer services market with record a robust CAGR by 2032, backed by rising demand for quality healthcare services. There are increased investments in healthcare infrastructure and insurance coverage schemes. With a shift in disease patterns, rising burden of chronic diseases, and increased focus on preventive care, the medical payer services focus on managing healthcare costs, enhancing operational efficiency, and improving patient outcomes. The implementation of healthcare reforms, such as universal health coverage schemes is driving the need for reliable payer services.

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Healthcare Payer Services Industry Players

Cognizant, Accenture, Oracle Corporation, Merative (IBM Watson Health) among others.

Healthcare Payer Services Market News

  • In May 2023, Marpai, Inc. announced the launch of Marpai Connect which utilizes artificial intelligence (AI) and data-driven technology to transform self-funded employer health plans. Marpai Connect is an innovative matchmaking platform that actively pairs health plan members with a diverse selection of value-based providers.

Partial Table of Contents (ToC) of the report:

Chapter 3   Healthcare Payer Services Industry Insights
3.1    Industry ecosystem analysis
3.2    Industry impact forces
3.2.1    Growth drivers
3.2.1.1   Rising adoption of health insurance policies
3.2.1.2   Increasing outsourcing of services to increase efficiency and reduce cost
3.2.1.3   Growing burden of chronic disease
3.2.1.4   Rise in healthcare fraud cases
3.2.2    Industry pitfalls & challenges
3.2.2.1   Risk of data breach and loss of confidentiality
3.2.2.2   High cost associated with outsourcing of services
3.3    Growth potential analysis
3.3.1    By services type
3.3.2    By application
3.3.3    By end-use
3.4    COVID- 19 impact analysis
3.5    Technological advancements
3.6    Regulatory landscape
3.6.1    U.S.
3.6.2    Europe
3.7    Application potential
3.8    Porter’s analysis
3.9    PESTEL analysis
Chapter 4   Competitive Landscape, 2022
4.1    Introduction
4.2    Company matrix analysis, 2022
4.3    Competitive analysis of major market players
4.4    Competitive positioning matrix
4.5    Strategy dashboard
4.6    Strategic outlook matrix
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About Global Market Insights

Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.


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JupiterOne and watchTowr announce partnership to protect business critical assets with broad exposure management capabilities

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SINGAPORE, May 2, 2024 /PRNewswire/ — watchTowr, a leader in external attack surface management (EASM) technology and fuelled by watchTowr Labs, a renowned vulnerability R&D capability, has formed a strategic partnership with JupiterOne. JupiterOne is a leader in cyber asset attack surface management (CAASM) technology. This collaboration enables customers to rapidly prioritize emerging threats within their constantly changing environments, focusing on fixing the most critical risks impacting their business, which enables an end-to-end continuous threat exposure management process (CTEM).

Over 28,000 CVE records were published in 2023; a figure that is expected to increase as attackers shorten the time from known vulnerability to exploit, reducing it from weeks to days. JupiterOne and watchTowr’s integrated solution empowers enterprises to discover their most critical and exploitable vulnerabilities, prioritize them with asset context based on business impact and receive an actionable remediation plan to improve security posture.
This partnership enables a complete continuous threat exposure management program, addressing the full spectrum of cyber risk management. The fully integrated solution provides continuous monitoring and assessment of both internal and external digital assets, allowing for prioritization and effective threat mitigation for a business’s most critical assets. “Our partnership with watchTowr is a game-changer” said Forte. “Combining our data aggregation with real-time asset discovery and automated security testing allows us to offer a unique, all-encompassing approach to exposure management.”
Benjamin Harris, CEO, watchTowr, said, “While the number of reported vulnerabilities continues to rise, the vulnerabilities that matter – in mission-critical, key systems – have exploded at an alarming rate. This reality, combined with the significant shift in speed by attackers to weaponize vulnerabilities – the ability to validate exploitability and prioritise actions based on real business risk has never been more vital. We’re excited to join forces with JupiterOne to give security teams around the globe this much-needed end-to-end capability.”
About JupiterOne:
JupiterOne is a cybersecurity startup delivering powerful software solutions to companies across all industries, providing deep insights to cyber assets and the relationships between, empowering security professionals to have true knowledge and ownership of their attack surfaces.
About watchTowr: 
watchTowr is a global cybersecurity technology company, built by former adversaries.
watchTowr’s world-class External Attack Surface Management and Continuous Automated Red Teaming technology is informed by years of experience compromising some of the world’s most targeted organisations and utilised by Fortune 500, financial services and critical infrastructure providers every day.
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Clarivate Declares Dividend on Mandatory Convertible Preferred Shares

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LONDON, May 1, 2024 /PRNewswire/ — Clarivate Plc (NYSE: CLVT; CLVT PR A) (“Clarivate”), a leading global provider of transformative intelligence, today announced that its board of directors declared a quarterly dividend of $1.3125 per share on its 5.25% Series A Mandatory Convertible Preferred Shares (the “Preferred Shares”), payable in cash on June 3, 2024 to shareholders of record at the close of business on May 15, 2024.

On the mandatory conversion date, which is scheduled to occur on June 3, 2024, each Preferred Share will automatically and mandatorily convert into a number of ordinary shares of Clarivate (and cash in lieu of any fractional ordinary shares) based on the average volume weighted average price (“VWAP”) of Clarivate’s ordinary shares over a 30-trading day period that begins on, and includes, April 18, 2024 and is scheduled to end on, and include, May 30, 2024 (the “valuation period”). If such VWAP is (i) greater than $31.20, then the mandatory conversion rate will be 3.2052 ordinary shares of Clarivate per Preferred Share, (ii) less than or equal to $31.20 but equal to or greater than $26.00, then the mandatory conversion rate will be a number of ordinary shares of Clarivate per Preferred Share equal to $100.00 divided by such VWAP and (iii) less than $26.00, then the mandatory conversion rate will be 3.8462 ordinary shares of Clarivate per Preferred Share. The mandatory conversion rate will be announced following the end of the valuation period. The above description of the terms of the Preferred Shares is not complete and is subject to, and qualified in its entirety by reference to, the “Statement of Rights” for the Preferred Shares, which is filed as Exhibit 3.2 to Clarivate’s annual report on Form 10-K for the fiscal year ended December 31, 2023.
Cautionary Note Regarding Forward-Looking Statements
This communication contains “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. These statements, which express management’s current views concerning future business, events, trends, contingencies, financial performance, or financial condition, appear at various places in this communication and may use words like “aim,” “anticipate,” “assume,” “believe,” “continue,” “could,” “estimate,” “expect,” “forecast,” “future,” “goal,” “intend,” “likely,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “see,” “seek,” “should,” “strategy,” “strive,” “target,” “will,” and “would” and similar expressions, and variations or negatives of these words. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on management’s current beliefs, expectations, and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy, and other future conditions. These forward-looking statements involve a number of risks and uncertainties (some of which are beyond our control) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include those factors discussed under the caption “Risk Factors” in our annual report on Form 10-K, along with our other filings with the U.S. Securities and Exchange Commission (“SEC”). However, those factors should not be considered to be a complete statement of all potential risks and uncertainties. Additional risks and uncertainties not known to us or that we currently deem immaterial may also adversely affect our business operations. Forward-looking statements are based only on information currently available to our management and speak only as of the date of this communication. We do not assume any obligation to publicly provide revisions or updates to any forward-looking statements, whether as a result of new information, future developments or otherwise, except as otherwise required by securities and other applicable laws. Please consult our public filings with the SEC or on our website at www.clarivate.com.
About Clarivate
Clarivate™ is a leading global provider of transformative intelligence. We offer enriched data, insights & analytics, workflow solutions and expert services in the areas of Academia & Government, Intellectual Property and Life Sciences & Healthcare. For more information, please visit www.clarivate.com.
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CGTN: 3rd CMG Forum in Beijing discusses AI development

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BEIJING, May 1, 2024 /PRNewswire/ — Focusing on the development of AI, the third CMG Forum was held on Monday in Beijing.

Li Shulei, a member of the Political Bureau of the Communist Party of China (CPC) Central Committee and the head of the Publicity Department of the CPC Central Committee, attended the opening of the event and delivered a speech.
Guests at the forum stressed the role of media in promoting the innovative application of AI as well as its governance.
Efforts should also be made to boost the development of AI in creating positive, healthy, diverse and high-quality content, so that AI can become a force for good and benefit mankind, they agreed.
They also called on media to accelerate intelligent transformation and help bridge international exchanges and cooperation on the governance of AI to facilitate its healthy, orderly and safe development.
Hosted by China Media Group (CMG), the forum attracted more than 200 participants from international organizations, media, think tanks and multinational companies.
“Innovation and breakthroughs in science and technology not only guide the development and progress of human civilization, but also bring uncertainty to the changing world,” said Shen Haixiong, vice minister of the Publicity Department of the CPC Central Committee and president of CMG. He called for efforts to jointly create valuable and responsible artificial intelligence.
AI technology is affecting every aspect of our lives. Thomas Bach, president of the International Olympic Committee (IOC), stated in a video speech that CMG has always been a partner of the IOC, bringing the charm of the Olympic Games to hundreds of millions of Chinese viewers. He said the IOC invites CMG to work together for the creation of a future with the application of AI in Olympic sports.
“From ancient inventions such as silk, printing and the compass to modern technological advances such as robotics, telecommunications and green technology, China has always been committed to innovation and creation,” said Daren Tang, director general of the World Intellectual Property Organization (WIPO). He said WIPO pays close attention to ensuring a balance between the opportunities and risks of artificial intelligence and is committed to strengthening cooperation to ensure that artificial intelligence is properly used.
https://news.cgtn.com/news/2024-04-30/3rd-CMG-Forum-in-Beijing-discusses-AI-development-1tdDcXvCexG/p.html

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