THE Philippine healthcare information management services (HIMS) sector is eyeing to grow by 10 to 13 percent this year, with the US as the main market driver, a key player in the industry said.
Nora Terrado, country head of Carelon Global Solutions Philippines (formerly Legato Health Technologies Philippines Inc.), said the HIMS is one of the fastest growing segments in the information technology-business process management (IT-BPM) sector and that the industry association, the Healthcare Information Management Association of the Philippines is aiming to grow the sector by US$28 billion by 2028 assuming that “it has all the right ingredients to build it.”
Terrado, who is a former senior trade official, said the HIMS sector in the Philippines is growing at a similar pace globally where 10 percent of the offshore services are for healthcare information management services.
“We are growing accordingly (with the global growth),” said Terrado, during a press conference Monday, Jan. 30, 2023. “We see the US continuing the driver as a market and in fact, it is the big focus (market) in generating demand.”
Terrado said the growth of HIMS is driven by demands from health insurance and healthcare companies in the US seeking to improve their administrative efficiency and for their customers to have better access to health services.
To achieve double-digit growth this year, Terrado said talent development, infrastructure development, ease of doing business, and policy shaping that aligns with market demands will sustain the growth of this high-value industry.
At the rebranding event, Terrado announced that Carelon Philippines targets to hire 1,500 full-time employees in the next two years, a demonstration that the offshore sector in the Philippines continues to go up in the value chain.
“This rebranding is fueled by our commitment to elevate health into a greater purpose, performing capabilities beyond that of a traditional health benefits insurer... Our services today unite data-driven digital solutions with top-level talent in the Philippines and around the world to provide seamless processes and operations that lead to administrative efficiencies, savings and better access to health services,” she said.
Terrado added that as the firm expands its footprint in the country, it will create a core team that will equip medical professionals with data analytics skills, among others, stressing that the use of technology, alongside data and insights, will help improve the healthcare situation in the country.
Carelon has presence in the Philippines, India, Ireland and Puerto Rico with at least 25,000 workforce.