Fast-tracking growth in healthcare outsourcing

23.08.2012
With the Philippines being recognized as the leader in voice business process outsourcing (BPO), the stakes are higher for health information management (HIM) outsourcing, one of the fastest-growing industries globally.

The prospects for the HIM industry in the Philippines remain bright and industry experts are optimistic about its growth. In 2011, the Healthcare Information Management Outsourcing Association of the Philippines (HIMOAP) saw a 172% growth in the healthcare outsourcing industry. From US$102 million in 2010, the industry's total revenue increased to US$277 million last year. The full-time workforce also increased from 14,000 in 2010 to 25,000 in 2011.

According to international market research firm MarketsandMarkets, the global healthcare BPO market grows at a compounded annual rate of 21.4%. In the US, a healthcare reform law enacted by the Obama administration requires all citizens to purchase insurance by 2014. This law will expand the market of health insurance, which already counts 256 million insured Americans.

"We see tremendous opportunity for the country to seize leadership in the global healthcare sector," said HIMOAP president JL Botor. "The increase in our membership only means that more companies are considering the Philippines as a high-value destination for healthcare outsourcing. We are strengthening our edge as we continue to develop our potential workforce, infrastructure, and regulatory environment."

HIMOAP, a non-stock, non-profit organization formerly called the Medical Transcription Industry Association of the Philippines, Inc. (MTIAPI), strives to promote healthcare services outsourcing by pioneering programs that will make the country the preferred healthcare outsourcing provider. Its growing number of members provides clinical documentation, IT, and training services to the healthcare sector.

HIM presence in the Philippines