With size of talent pool, PHL can be healthcare BPO leader – industry exec

The Philippines can be a leader in global healthcare BPO (business process outsourcing) due to its large talent pool, an industry stakeholder said.

“Our unparalleled workforce remains the main reason why the Philippines is well-suited to deliver HIM [Healthcare Information Management] services for international clients," said Healthcare Information Management Outsourcing Association of the Philippines president Juanloz Botor on Wednesday.

Botor added that the HIM sector has become a career alternative for an estimated 200,000 nurses in the country, who deliver services such as medical transcription, data management, medical coding and billing and pharmaceutical benefits management.

In a recent report, international research firm Everest Group said the Philippines has the largest pool of US-licensed nurses outside the US, with more than 6,000 nurses trained a year—more than four times domestic demand. The nurses' education is patterned largely on US standards, “making the transition to healthcare BPO for US clients very easy for the nurses,” said the agency.

Everest also noted that the country's healthcare BPO is one of the fastest-growing sectors of the BPO industry, with revenues increasing from $102 million in 2010 to $430 million by end-2012. — BM, GMA News