ICTO: PH healthcare BPO sector in ?sweet spot?

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[/caption] This according to Information and Communications Technology Office (ICTO) deputy executive director Alejandro Melchor who said that studies have indicated that the projected growth of the healthcare BPO industry is bigger than initially expected. ?We?re in a sweet spot to capitalize on this boom,? said Melchor during a press briefing for the 3rd Healthcare Information Management Outsourcing Services Congress (HIMOSC) held at the Intercontinental Hotel in Makati City. The event was organized by the Healthcare Information Management Outsourcing Association of the Philippines (HIMOAP) and the Department of Science and Technology-ICTO (DOST-ICTO). HIM outsourcing is now among the fastest-growing sectors in the local information technology and business process outsourcing (IT-BPO) industry. The country?s healthcare outsourcing sector is expected to generate $433 million in revenues and employ 43,000 by the end of 2012. The conversion from ICD-9 (International Classification of Diseases) to ICD-10 coding system is also seen to boost the growth of the healthcare outsourcing sector. ICD is a medical coding system followed by most countries for healthcare record-keeping. In 2014, the implementation of ICD-10 in the US is expected to increase the number of medical codes that need processing. ?Healthcare outsourcing is blazing the trail as one of the fastest-growing sectors of the IT-BPO industry, and we are very honored to host the biggest healthcare outsourcing event of the year. When the Philippines established itself as a leading destination for outsourcing services, prospects for healthcare information management (HIM) outsourcing shone brighter,? said Myla Reyes, TTSI managing director and immediate past president of HIMOAP. From initially delivering medical transcription services, the Philippine HIM outsourcing sector has evolved into various services, including clinical data management, disease management, revenue cycle management, pharmacy benefits management, electronic medical records, medical claims recovery, patient education, insurance processing, and quality assurance. To support the growth of the industry, HIMOAP has partnered with DOST-ICTO to efficiently implement programs that will help strengthen the Philippines? position in the global healthcare outsourcing market. ?The invaluable contribution of HIMOAP in organizing and promoting the industry and fostering a healthy business atmosphere has had a significant effect in generating employment for an estimated 25,000 Filipino healthcare professionals and generated revenue of close to $300 million in 2011. With continued partnership with HIMOAP, we are confident we can grow this more and be closer to being the number one healthcare outsourcing destination,? said DOST-ICTO executive director Louis Napoleon Casambre. ?We are still up for the challenge of achieving the targets set out in our Road Map 2016: $1 billion in revenues and 100,000 full-time employees. HIMOSC helps us to be a step closer in accomplishing that goal,? said Juanloz Botor, HIMOAP president.]]>

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