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Healthcare BPO seen to rake in $1B in revenues by 2016


The healthcare information management services in the country are expected to generate $1 billion in revenues with 100,000 full-time employees by 2016.   For this year, the sector—one of the fastest-growing in the Business Process Outsourcing (BPO) industry—is targeting $433 million with 43,000 full-time employees, according to the Healthcare Information Management Outsourcing Association of the Philippines (HIMOAP).   It has been a steady growth: last year, revenues were at $277, a more than 100-percent increase from 2010’s $102 million.   HIMOAP said in order to sustain growth and reach industry targets, it has partnered with the Department of Science and Technology-Information and Communications Office (DOST-ICTO).   “We are very fortunate to have the DOST-ICTO’s support because its programs are aligned with the implementation of ICT industry development project,” said HIMOAP president Juanloz Botor on Tuesday. Botor said the partnership with DOST-ICTO has resulted in numerous programs and joint projects, helping the industry strengthen its local talents and build investor confidence. Three of the notable and successful projects include HIMOAP’s participation at the 2012 American Health Information Management Association (Ahima) Convention and Exhibit held at Chicago, Illinois; the Medical Coding and Billing Master Trainers’ Training Program to be implemented towards the end of this year; and the organization of Healthcare Information Management Outsourcing Services Congress 2012 in the Philippines. HIMOAP—formerly known as the Medical Transcription Industry Association of the Philippines—said its participation in the Ahima Convention helped raise awareness of the Philippines’ strengths and capabilities, build country branding, and establish a thought leadership position for Philippine industry players. The group also said its partnership with the DOST-ICTO for medical coding and billing project would increase the number of certified professional coders, who will in turn educate aspiring coders and billers. — KBK, GMA News

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