by: Karen Cayamanda
From 2014 to 2019, the global medical billing outsourcing market is predicted to post a compound annual growth rate (CAGR) of 9.29%. This is according to the report "Global Medical Billing Outsourcing Market 2015-2019" by Market Research Store.
This market growth could be attributed to increased healthcare spending worldwide, in developed countries where there is an aging population and a lower fertility rate. The increase could also be seen in emerging countries where infrastructure is not enough, and there is an increase in chronic diseases as well as lack of equality when it comes to availability of patient care.
Healthcare enterprises rely heavily on the internet and technology for their daily operations. This will be the trend and will intensify, leading to IT departments having a more significant role in the medical billing outsourcing market. With greater need for risk and compliance management, increasing cost pressures, and other concerns, healthcare enterprises lean towards outsourcing that gives them agility and control. Outsourcing also enables them to better manage cash flow and gain more ROI.
The report also cited key vendors of the medical billing outsourcing market: Accenture, AGS Health, Cognizant Technology Solutions, GeBBS Healthcare, Genpact, HCL Technologies, and Medusind.
by: Karen Cayamanda
Global outsourcing and investments advisory firm Tholons ranked Cebu City, Philippines as the 7th best outsourcing location worldwide.
Cebu City improved its ranking, coming from the 8th spot last year. Rankings of other cities in the country had improved, with Dumaguete City joining the top 100 list at the 93rd position. Manila retained its position as the second best outsourcing location, following Bangalore, India. This is according to Cebu Educational Development Foundation for Information Technology (Cedfit) Managing Director Jun Sa-a, who also said the ranking shift of Cebu City from 8th to 7th was one of the important shifts in the Asia-Pacific region in this year’s list.
Tholons said Cebu City had moved up the list as it is able to continue to develop its IT-BPM sector through improvements in infrastructure and a large pool of talent. It offers services involving three main outsourcing areas: Information Technology Outsourcing (ITO), Knowledge Process Outsourcing (KPO), and Business Process Outsourcing (BPO).
Back in 2001, only five IT-BPM companies had operations in the city. Last year, it is home to 200 companies, employing 117,000 workers.
With its improved ranking, Cebu City could still be further promoted as an outsourcing destination, said Tholons, as the industry is still leaning towards BPO in the global outsourcing landscape.