After the road show piloted by the Department of Trade and Industry (DTI) in the US, American business process management (BPM) firms that are dealing with healthcare processes are considering the Philippines as a destination for expanding their operations.
According to Ponciano C. Manalo, Undersecretary of DTI, they went to New York, San Francisco, Atlanta, and Washington, D.C. and a lot of participants aired their interest to invest in the country. One of the key reasons, he said, is that the demand for outsourcing within the sector is really high. There are a lot of opportunities in the Philippines as well because of the recently ratified Affordable Healthcare Act in the US.
The entire global healthcare information management industry is worth $3 billion, and the Philippines only represents $400 million. However, there are already plans to increase it to $1 billion by 2016.
Data from the National Statistical Coordination Board indicate that for the second quarter of this year, US posted the most investment pledges amounting to P43.2 billion in the country. Japan came in second with pledges amounting to a total of P4.2 billion, and the Netherlands with P3.8 billion.