MANILA, Philippines - The Philippines is poised to become the global leader in healthcare information management services (HIMS) as it aims to generate $2.4 billion worth of revenues and employ 120,000 employees by 2016.
In a press conference, Healthcare Information Management Outsourcing Association of the Philippines president Josefina Lauchangco said the group is confident the country could be the global leader in terms of providing HIMS by 2016.
“We can be the leader because one of the things that most countries don’t have is the sizeable talent pool. The nursing graduates are 250,000. No other country has that workforce resources,” she said.
She noted though that creation of programs that would provide the country’s talent pool the necessary skills to cater to market demand will be needed.
“Programs that we have now is very limited, we have to expand this later on,” she said.
Aside from the available talent pool, the country has other advantages such as strong English voice skills, medical know-how and government support.
The Philippine HIMS industry is engaged in various services such as medical transcription, medical billing, medical coding, outpatient care services, among others.
David McKeering, PwC South East Asia Consulting Public Sector and Healthcare leader said for the Philippines to become a leader in HIMS, it will need to look at key trends affecting global healthcare.
He said industry players will need to know more about how to ensure quality healthcare services.
At the same time, he said industry players will need to understand what consumers want as changes in healthcare will be driven by them.
“There is a need to look at different technologies to be prepared for the future,” he said.
As HIMOAP is looking to position itself as the global leader in HIMS, Lauchangco said the HIMOAP is aiming for a 25 percent compounded annual growth rate from 2013 to 2016.
She said that by 2016, the goal is to generate $2.4 billion worth of revenues and employ 120,000 full-time employees.
Last year, revenues of HIMOAP amounted to $998 million, while its total workforce count reached 66,000.