Making it Happen in the health IT & BPM sector, the Philippines showcased its competitive advantages and inherent capabilities as information technology (IT) outsourcing investment destination for the healthcare information services during the Healthcare Information Management Systems Society Conference and Exhibition 2022 (HIMSS22) at the Orange County Convention Center in Orlando, Florida recently (March 14 to March 17, 2022).
An anchor exhibitor at HIMS222, the Philippine Pavilion showcased the country’s capabilities in Healthcare IT (data science and analytics, AI & machine learning for healthcare, robotics process automation, blockchain for healthcare, mobile IT, telemedicine, EHR/EMR, IT applications, development, and maintenance support), Revenue Cycle Management, Pharmaceutical, and Life Science, particularly in reliable clinical trials and drug safety monitoring services and Customer Support – related services.
The country’s participation in HIMSS22 is part of the promotional initiatives of the Philippine government to attain the country’s vision of becoming Asia’s hub for Healthcare IT- Business Process Management (BPM). The HIMS sector contribution accounts for 10.3% share (around $3.1 billion in revenues) and providing jobs to over 200,000 individuals as of 2021. Even the current pandemic did little to hamper a positive outlook for the HIMS industry, as revenues are projected to grow by 7.3-10% in 2022 or to reach more than $5 billion by 2022, making the Philippines Asia’s Hub for Healthcare-BPM Services.
Alongside business-to-business activities in the Philippine Pavilion, Trade Undersecretary for Competitiveness and Innovation Rafaelita M. Aldaba presented at the HIMSS22’ Global Innovation Hub and highlighted the changing landscape and transformation of the Philippines Healthcare & IT-BPM industry, as companies adopt new technologies.
Undersecretary Aldaba highlighted that the over 7% t growth of HIMS IT-BPM is supported by the IT-BPM sector which is an important pillar of the Philippine economy and a major source of competitive advantage. According to the Undersecretary, the sector is a top industry destination of US investors in the Philippines. For the last 10 years, the Philippine HIMS sector has attracted global investors, bringing the number of industry players to over 400 companies, including small and medium-sized players. Some of the notable industry players are Optum, Legato, and Adec.
As the Philippines is sitting at the top spot in voice-related services, the Undersecretary shared, the country continues to upgrade activities in the IT global value chain through expanding and upgrading not only in the BPO segment but also in IT outsourcing and high value, more complex knowledge process outsourcing by adopting digital tech, smart automation, and cloud platform-based solutions. The HIMS industry evolved from call center to providing end-to-end front office core operations and back-office services using Omni-channel solutions and offering high-value ITO, BPO, and KPO services, she stressed.
With the transformation in the HIMS sector, “the Philippines is now a one-stop location with integrated IT and BPM services and a single platform allowing a convergence of technology, voice, and non-voice including clinical and non-clinical services, representing 13 percent of the global IT-BPM market share,” Undersecretary Aldaba underscored.
Further, the Undersecretary pointed out that the Philippines is now focusing its efforts on building an industry whose strengths lie beyond voice services, and more towards high-value services like HIMS and data analytics.
“With this transformation taking place in the HIMs sector, our capacity expands to support the entire healthcare journey of patients providing complex, digitalized end to end customer experience services,” said the BOI official, underlining the Philippines’ competency to support a wide range of industry verticals using technologies like AI, smart analytics, bots, and blockchain. In the HIMS sector, these include pharma support, health IT, provider and payor-centric processing, utilization management, care services, IT & analytics, clinical research & analysis, and training.
In addition, the Undersecretary reported the growing Philippines start-up ecosystem, with Manila as the top 20 start-up ecosystem in the world concerning affordable talent. These Filipino startups, said the official, has pivoted to providing innovative solutions in addressing various issues including in healthcare, such as Hybrid, which is part of the Philippine delegation, providing information and management systems and solutions for hospitals in the Philippines.
“Philippines’ unique value proposition has shifted to offering sophisticated services that deliver value, reduce risks, drive market edge, and foster sustainability,” Undersecretary Aldaba added, emphasizing that human capital is a critical factor in the transformation of the industry. According to the official, the Philippines’ key advantage as the preferred investments destination in HIMS & BPM sector is its demographic sweet spot, with the skilled talent of 45 million labor population and the median age of 25 years old. Also, the country is producing over 750,000 graduates in various fields annually.
Moreover, the Undersecretary said that the country has over 400 IT parks and buildings that can readily host HIMS IT & BPM services. She also mentioned the government policies and programs that support the development of the sector, which include the National Upskilling and Reskilling Program, the establishment of the Center for AI Research as well as the Corporate Recovery and Tax Incentives (CREATE) Law that provides investments for HIMS related activities.
The Philippine Board of Investments (BOI), together with the Department of Trade & Industry’s (DTI) Export Marketing Bureau (EMB), Philippine Trade and Investment Center (PTIC), Department of Information and Communications Technology (DICT), and 10 companies engaged in Healthcare Information Management (HIM) and other allied services, represented the Philippines at the HIMSS – the largest HIMS Conference in the US where professionals throughout the global health ecosystem connect for education, innovation and collaboration needed to reimagine health and wellness.
The Philippine delegation, headed by Undersecretary Aldaba, was composed mostly of home-grown local companies such as ADEC Innovations, Advanced World Solutions, Connext Global Solutions, Dynaquest Technology Services Inc., Hybrain Development; Inspiro; Phoenix Virtual Solutions; Pointwest Innovations; Megaworld International; and Visaya KPO.
The other major activities lined up at HIMSS22 included: speaking opportunity under the Global Innovation Hub for ADEC Innovations on March 16; and Special Session with the United Health Group on March 18 to discuss emerging trends/ themes in the Healthcare Outsourcing Space and factors that US healthcare companies look for when choosing Healthcare BPO partners.
The Philippine participation at HIMSS22 is part of the Philippines HIMS-BPM Roadshow to the USA from March13-26, 2022. Following such engagement, a swing mission to San Francisco and Los Angeles will take place with a mission to present the Philippine capabilities in HIMS-BPM in fora, networking sessions, and one-on-one company meetings involving potential partners, clients, and investors from the US. Such an event is a good opportunity to visit and meet relevant IT and healthcare companies in the US to promote Philippines HIM services.