According to the Healthcare Information Management Association of the Philippines (HIMOAP), the country is poised to become one of the leading destinations for healthcare information management services. It is also expected to earn $2.4 billion in revenues by 2016.
Josefina V. Lauchangco, President of HIMOAP, said they expect the country to sustain its growth momentum for the healthcare segment, producing $2.4 billion in revenues and employing 120,000 in two years’ time. She added that the Philippines is a formidable player in the global healthcare segment since it has a sizeable talent pool of nursing graduates. This feature is said to be unique to the Philippines and is predicted to help attract more investors and companies to set up shop or expand in the country.
However, she warned that for the country to progress in this segment, the government and other organizations need to work on programs that can help develop the skills and competence of the specific talent pool. Some areas to be improved are information technology and data analytics. Majority of the programs currently focus on medical coding and medical transcription which are fairly common and saturated in terms of market share in the country.
Meanwhile, it was found that the industry posted $988.43 million in revenues and employed 66,000 medical professionals.
In a statement, David McKeering, Public Sector and Healthcare leader at PricewaterhouseCoopers Southeast Asia Consulting, said the advancing economy of the Philippines puts it at the forefront of the healthcare information management space.