Philippine Healthcare Outsourcing Expected to See More Growth

On September 17, 2012, in Outsourcing, by Business Development Group
HIMOAP further stated that the country’s large pool of yearly graduates from nursing and other medical fields “provides great potential for the country as a top location for healthcare BPO.”

HIMOAP further stated that the country’s large pool of yearly graduates from nursing and other medical fields “provides great potential for the country as a top location for healthcare BPO.”

The Philippines’ healthcare outsourcing industry is expected to increase number of full-time employees (FTEs) this year, hiring 43,000 employees and reaching 74% growth by the end of 2012.

According to the Healthcare Information Management Outsourcing Association of the Philippines (HIMOAP), the healthcare information management (HIM) outsourcing industry is bound to see strong growth in the coming years. The industry has recently seen a surge in revenues in 2011; its earnings growing 172%, from $102 million to $277 million. The industry also employed 24,700 individuals in 2011 and is expected to reach a number of 100,000 FTEs by 2016. As such, healthcare outsourcing is considered one of the fastest-growing sectors of the Philippine IT-BPO industry.

Related Article: Medical BPOs on hiring spree

HIMOAP President, JL Botor, said in a statement that this growth is a testament to the Philippines’ ability to deliver high-value services in healthcare information management services.

HIMOAP further stated that the country’s large pool of yearly graduates from nursing and other medical fields “provides great potential for the country as a top location for healthcare BPO.” According to data from the Commission on Higher Education, there is an oversupply of 400,000 nurses in the Philippines this year and a large number of them could venture into the healthcare outsourcing industry.

Related Article: Outsourcing May Grow as Health System Evolves

Currently, there are more than 150 healthcare information management outsourcing firms operating in the country, offering services including medical transcription, clinical coding, disease management, revenue cycle management, pharmaceutical benefits management, and other HIM-related outsourcing services.

Related Article: Oversupply of nurses gives PHL the edge to excel in healthcare BPO

 

 

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