Global Healthcare IT-BPM market at $276 B in 2021

Global Healthcare IT-BPM market at $276 B in 2021

HIMS Conference 2016 Press Launch from left: Nikka Abes, Head for Marketing Services, Enterprise Group of Globe Business; Jeff Williams, HIMAP Chair, Commissioner Mon Ibrahim, Executive Consultant of DICT;  Beng Coronel, HIMAP President; Myla Reyes, HIMAP BOT; Judy Whisenhunt, HIMAP BOT; Roger Salazar, Jr., HIMAP VP; and Jedreck Estanislao, Head of Marketing Services of Eastern Communications.

At the HIMS Conference at Makati Shangri-la held last September 15, the Healthcare Information Management Association of the Philippines (HIMAP) disclosed that the Global Healthcare IT-BPM market is expected to grow from $170.47 billion revenues in 2016 to $276.79 billion in 2021.

“Out of the global healthcare BPO market, the Philippines is on tract to hit about $5 billion in revenues by 2022 which translates to 210,000 direct employments,” according to Ms. Beng Coronel, President of Pointwest Technologies, Corp and current HIMAP president.

Coronel revealed that market drivers like transformation to value-based outcomes, consolidation among and between payers and providers, telemedicine, consumerization and technological advances like robotics process automation, digital transformation and new delivery and billing models, will contribute to the forecasted growth for the local HIMS industry.

“The conference’s theme ‘Global Convergence Enabling Inclusive Care and Innovation’ aims to discuss key success factors to ensure that the Philippines remains competitive as a destination of choice by global companies,” added Coronel.

Other speakers in the plenary sessions are Ms. Myla Reyes, VP SPi Global; Karthik Rajan, Principal Consultant of Frost & Sullivan; Dan Schwebach, VP of AAPC; Commissioner Mon Ibrahim, Executive Consultant of DICT, Hon. Nora K. Terrado, Undersecretary of DTI; Roger Salazar President and Country Lead of UHG; Kit Sumabat, CEO of HealthInformatics Inc.; and Jeff Williams, Industry Consultant of Infinit-O.

The conference expanded to include breakout sessions in different tracks for business, technology, and talent executives and a new framework will be provided to participants with a breadth and depth of knowledge on topics with principles drawn from different disciplines.

Global Healthcare-Business Process Management executives, industry experts and professionals attended the whole-day event co-organized by HIMAP & DICT; co-presented by Globe Telecom; Eastern Telecoms as the Official Internet Provider; NICE Systems Ltd. as Gold sponsor; Shearwater Health as Silver sponsor; with minor sponsors Pointwest Technologies, TeleDevelopment Services, Inc., United Health Group, SPi Global, AAPC; Oxford Business Group as the Research Partner; and Business World and The Manila Times as Media Partners.

EVEREST STUDY: HEALTHCARE BPO “A HIDDEN JEWEL” FOR PHL

EVEREST STUDY: HEALTHCARE BPO “A HIDDEN JEWEL” FOR PHL

Filipino nurses are top foreign-educated nurses qualifying US nursing exam

(Manila, Philippines, February 27, 2013) — International business advisor and research firm Everest Group named the healthcare information management (HIM) industry as a “hidden jewel” of the Philippines. In its recent report, “Healthcare BPO Is a ‘Hidden Jewel’ For the Philippines’ Global Services Industry”, Everest Group said that the Philippine healthcare BPO has grown fourfold over the past two years. Revenues increased from US$102 million in 2010 to US$430 million by end-2012, making it one of the fastest-growing sectors in the country’s IT-BPO industry.

As a result, global companies have shifted their focus to the Philippines because of its large pool of available talent. Everest notes that the Philippines has the largest pool of U.S.-licensed nurses outside the United States, and “trains more than 6,000 nurses per year, while the domestic demand is less than one-fourth of this supply.”

Filipino nurses are familiar with U.S. medical practices as nursing education is patterned largely on U.S. standards, “thus making the transition to Healthcare BPO for U.S. clients very easy for the nurses,” reported Everest.

Statistics from the National Council of State Boards of Nursing (NCSBN) show that out of 62,000 examinees, Filipino nurses constitute 61 percent of foreign educated, first-time candidates qualifying for the US-NCLEX-RN examination. Filipino nurses are the top foreign-educated nurses qualifying the said exam, followed by India, South Korea, Canada, and China. About 40 percent of foreign-educated nurses in the United States are Filipinos.

“There is tremendous opportunity for the Philippines to seize leadership in the global healthcare sector,” said Juanloz Botor, president of the Healthcare Information Management Outsourcing Association of the Philippines (HIMOAP). “Our unparalleled workforce remains to be the main reason why the Philippines is well-suited to deliver HIM services for international clients.”

With the supply of professional nurses exceeding demand due to limited opportunities following the economic slowdown, the HIM industry has been an attractive career alternative for an estimated 200,000 unemployed nurses in the Philippines. They have been excellent in delivering a wide array of HIM services, including medical transcription, data management, medical coding and billing, revenue cycle management, and pharmaceutical benefits management, among others.

Key drivers
Everest also noted that increase in demand for HIM services is being driven by healthcare-related legislation in the United States and Europe; hence, the need for maintaining exhaustive electronic medical records with complete information on billing and payment transfers.

Drivers for growth include the conversion to International Classification of Diseases-10 (ICD-10) and the American Recovery and Reinvestment Act (ARRA) of 2009. Moreover, a law enacted by the Obama administration, which mandates all US citizens to have health insurance coverage by 2014, will expand the market of health insurance that currently covers 256 million Americans.

Value proposition
“Global players… are not only leveraging the voice advantage of the Philippines for voice-based BPO but also using the unique value mix of medical know-how and good customer interaction skills to deliver niche services,” Everest reported.

The Philippines has always taken pride in its highly competent IT-BPO workforce. Good English language skills and strong cultural affinity with the United States make it easier for Filipino professionals to relate with American customers. For North American clients, Filipino accents are easier to work with and accent neutralization programs require a shorter duration.

“No other country in the world has the sheer volume of healthcare-trained professionals that you’ll find in the Philippines such as nurses, physical therapists, and doctors. This alone sets this country apart from every other country in its capabilities,” said Jeff Williams, HIMOAP chairman.

Realizing the significant contribution of the HIM sector, the government and industry, through HIMOAP, have already provided support through focused initiatives and efforts to better equip the workforce with the necessary skills set the industry requires.

“The sector is expected to receive special attention from the government with the Department of Labor and Employment categorizing it as one of the fastest-growing sectors in the IT-BPO industry. HIMOAP has launched several training programs to equip the workforce with better technical and IT skills. HIMOAP also helps domestic firms remain up-to-date with the industry best practices and educate them on the rising opportunities in the sector,” reported Everest.

Industry public-private partnerships have enabled support for talent development and investor confidence in the HIM sector. By 2016, the HIM industry is expected to become a US$1-billion industry employing around 100,000 Filipinos.

About the Business Processing Association of the Philippines
The Business Processing Association of the Philippines (BPAP) is the enabling association for the IT-BPO and GIC (global in-house center) industry in the Philippines. BPAP serves as the one-stop information and advocacy gateway for the industry. With approximately 300 industry and support-industry members, including five associations—the Animation Council of the Philippines, Inc. Contact Center Association of the Philippines, Game Developers Association of the Philippines, Healthcare Information Management Outsourcing Association of the Philippines, and Philippine Software Industry Association—BPAP plays a pivotal role in sustaining rapid growth of the IT-BPO and GIC industry by working to ensure an enduring supply of high quality labor, supporting service innovation, and providing country visibility.

BPAP assists investors in setting up operations easily and quickly in the Philippines. Relevant research, introductions to key government and industry officials, and a series of briefings at each step of the investment process ensure a seamless development process. Ongoing support is provided through a wide variety of initiatives, including programs for HR development, business development, knowledge sharing and networking opportunities.

About the Healthcare Information Management Outsourcing Association of the Philippines (HIMOAP)
The Healthcare Information Management Outsourcing Association of the Philippines (HIMOAP), formerly known as the Medical Transcription Industry Association of the Philippines, Inc. (MTIAPI), is a non-stock, non-profit industry organization recognized by the Philippine government and BPO industry. The association was first registered as MTIAPI with the Philippine Securities and Exchange Commission on October 16, 2003 and renamed as HIMOAP in August 2010.

HIMOAP prides itself in bringing together the Philippines’ most distinguished and active players in the healthcare outsourcing industry towards a common endeavor. The association serves the needs of the HIM service organizations, HIM Education and training centers and vendors as it promotes the Philippines as the destination of choice for quality Healthcare Information Management outsourcing services.

BUILDING A CAREER IN HEALTHCARE INFORMATION MANAGEMENT

BUILDING A CAREER IN HEALTHCARE INFORMATION MANAGEMENT

(Manila, Philippines, August 24, 2012)—Early this year, Department of Labor and Employment (DOLE) Secretary Rosalinda Dimapilis-Baldoz encouraged jobseekers with background in the healthcare profession to seek career opportunities in healthcare information management (HIM) outsourcing, one of the fastest-growing sectors in the IT-BPO industry. With its competitive salaries and benefits, healthcare BPO is a viable option for the 400,000 unemployed nurses as of February this year.

The Healthcare Information Management Association of the Philippines (HIMOAP) reported that 24,700 individuals were hired in 2011 for healthcare outsourcing alone. HIMOAP aims to have 43,000 full-time employees by the end of this year. By 2016, the organization hopes to increase the number to 100,000.

“Increasing healthcare spending is driving countries to create health reforms that will not only ensure additional coverage to members but also introduce technology solutions such as electronic health records,” said Myla Reyes, managing director of TTSI. “These trends are now offering a wide range of opportunities as well as challenges for HIM outsourcing firms.”

Why HIM outsourcing

HIM outsourcing generally involves organization, maintenance, documentation and analytics of health information in order to facilitate real-time healthcare delivery and critical health-related decision making for multiple purposes across diverse organizations, settings and disciplines. Medical institutions are saving on costs and showing better efficiency in their services after outsourcing these requirements.

“Graduates of medical-related courses can put their medical knowledge to good use in HIM outsourcing while satisfying their investment on education,” said Katheryne Gutierrez, vice president for Clinical Quality and Compliance at MediCall Philippines Inc. “In healthcare outsourcing, you are not limited to the patients you see as when you’re working in hospitals. You reach out to the world, and that makes the job more gratifying.”

While Gutierrez, a registered nurse, says Filipino healthcare professionals can be successful in the industry, opportunities are also available to those who have no background in the medical field.

HIMOAP, a non-stock, non-profit organization that aims to make the Philippines the leading destination for healthcare  outsourcing, conducts career development programs and workshops alongside government agencies to help boost the talent pool for this sector. In November, HIMOAP will gather industry stakeholders for the 3rd Healthcare Information Management Outsourcing Services Congress (HIMOSC) to highlight career opportunities and the enormous potential of the sector.

HIMOAP works with the Business Processing Association of the Philippines (BPAP), government, and academe to integrate HIM services in nursing curricula as a preparation for this career path. BPAP’s career portal?“Work Abroad. Live Here”?was launched this year to raise awareness and encourage an estimated 517,000 college graduates and other professionals to a dynamic BPO career. Currently, the IT-BPO workforce stands at 640,000. This project is part of an entire campaign to generate 1.3 million jobs in the IT-BPO industry by 2016.

“HIM professionals must be equipped with a fusion of healthcare and IT skills. This is a great opportunity especially for our allied healthcare professionals to look into what HIM can offer in terms of a long-term career,” Reyes added.