Makati City, Philippines - “Philippine Health Care Industry is enjoying unprecedented growth.”
This was how Beng Coronel, HIMAP and Pointwest President, described the Philippine healthcare industry in the Healthcare Information Management Services (HIMS) Conference at the Makati Shangri-La on 15 September 2016.
In the President’s Address, Coronel said that the revenues in health care industry will grow fourfolds to $5 Billion by 2022 from $1.9 billion in 2015.
“In the next five years, the HIMS industry could be making $5 Billion in revenues with 210,000 direct employment or 14.8% growth”.
CONFERENCE. HIMAP and Pointwest President Beng Coronel, together with the BPM experts and healthcare professionals, at the HIMS Conference 2016. Photo by Mark Zavalla / Pointwest
Dynamic Opportunities
Having solidified its status in the economy as the fastest growing industry and one of the biggest contributors to GDP growth, the Philippines has seen dynamic opportunities as global healthcare industry also expected to grow after the implementation of the Affordable Care Act (ACA), commonly called the Obamacare, ICD-10 Coding system, penetration of insurance and other growth boosters for healthcare IT-BPM Market.
“Changing landscape creates new opportunities.” she asserted.
“Future proofing” the healthcare industry, Coronel noted new and expanded type of service of the industry - Telemedicine, a remote diagnosis and treatment of patients by means of telecommunications technology. This will allow patients to access medical expertise remotely, providing convenience and a potential cost savings for the patient.
Aside from Telemedicine, the President also cited bulk of work in voice, non-voice, Information Technology, analytics and training programs from the pharmaceutical side, health IT and from the provider and payor centric processes.
“Technology development will impact our industry and to future proof our industry we need to level up our service portfolio, broaden our market base and up skill our talent base,” she ended.
2016 HIMS Conference
The HIMS Conference 2016 with the theme: “Global Convergence enabling inclusive care and innovation” paved way about the trends in healthcare system, healthcare solutions and the convergence of global market and local services and served as a venue for industry players, training institutions, vendors, larger business community and other stakeholders to identify key factors and programs that would contribute to positioning the Philippines as the leading destination for quality healthcare information management services.
The said conference was headed by the Healthcare Information Management Association of the Philippines (HIMAP), co-sponsored by the Department of Information and Communication Technology, Pointwest Technologies and some healthcare IT-BPM companies across the country. <Pointwest Healthcare>
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