BOI approves medical transcription BPO in Makati

The Board of Investments (BOI) approved the application of Milenia Data Services Inc., a business process outsourcing (BPO), to put up a P20-million site in Makati City.

Milenia is setting up a medical transcription BPO, the BOI said on Tuesday, mainly medical coding services to clients in the United States.

The company started operating in March with 23 employees. It intends to employ as much as 88 personnel by its fifth year of operations.

"The Philippines is in a position to take advantage of this outsourcing boom in the health information management (HIM) sector," Trade Undersecretary and BOI Managing Head Ceferino "Perry" S. Rodolfo said.

"The sector can easily tap the estimated 125,000 annual graduates of medical allied courses, including at least 80,000 in the Nursing, Physical Therapist, Medical Technologist and Physician professions," he added.

According to the BOI, HIM involves the practice of maintaining personal health information in hospitals or other healthcare organizations enabling the delivery of quality healthcare to the public.

"Per the Health Information Sectoral Roadmap 2016-2022, the Philippines is on course to hit about $5 billion in revenues, translating to 210,000 full-time employees by 2022," the BOI said.

The sector was reported to have generated $2.4 billion in revenues in 2016, with 118,000 personnel.

The Philippine Information Technology and Business Process Management earlier said it seeks to generate as much as $39 billion in industry revenue via the roadmap "Accelerate PH: Future Ready." — Jon Viktor Cabuenas/VDS, GMA News