ORLANDO, FLORIDA — The Philippines’ 7th participation in the HIMSS Global Conference and Exhibition (HIMSS24) generated an initial sales amounting to US$ 53 million (inclusive of closed deals, contracts under negotiation, potential sales to be nurtured) plus additional potential direct investment amounting to US$ 50 million in the next three years,  during the trade and investment roadshow held at the sidelines of the HIMSS24 Exhibition on 11-14 March 2024 at the Orange County Convention Center, Orlando, Florida.

The Philippines showcased the country’s diverse capabilities in information technology (IT) and healthcare information management services, such as Revenue Cycle Management, Healthcare IT (i.e., EHR/EMR, Telemedicine, App Development & Re-Architecture, Robotics Process Automation, Blockchain for Healthcare), Pharmaceutical & Life Sciences (i.e., Pharmacy Benefit Management, Pharmacovigilance, Data Analytics for Pharma), and Clinical Support Services to global audiences in the US market and beyond.

17 world-class HIMS companies from the Philippines featured at HIMSS24 included: ADEC Innovations, Colliers, Connext, Datamatics, Everise, Global MedTeam, Inspiro, Medcode, Medstar Philippines Healthcare Information Management Inc, Nezdex, Office Symmetry, Quality Management Solutions, Savant Technologies Inc, Shearwater Health, Teleperformance, Visaya KPO, and WAGMI Solutions. As part of PH HIMS US Roadshow, facility visits, learning session and a business forum were also held in Florida.

During the mission, HIMAP mentioned that the Philippine healthcare services industry continues to rise. In 2023, the industry reached US$ 4 billion in revenue and 190,000 FTEs, demonstrating a robust 9% CAGR between 2022 and 2028. This growth serves as proof that the industry is on track to surpass the ambitious targets set in the IT-BPM 2028 Roadmap of 6.7 billion USD in revenue and 285,000 FTEs in the healthcare sector by 2028

“With the acceleration of offshoring services in the US and the ongoing tech wave, Philippine firms continue to upgrade their outsourcing services particularly in health information management. Outsourcing has streamlined hospitals’ operations and the Philippines has contributed to this not only by offering Filipino talent and expertise but also by adopting new technologies like AI which has allowed Filipino workers to take on more complex and higher-value roles,”DTI Undersecretary for Competitiveness Innovation Group Rafaelita Aldaba said during a business forum in the US.

The country’s participation was spearheaded by the Department of Trade and Industry (DTI), through Competitiveness and Innovation Group (CIG) and the Export Marketing Bureau (EMB), in partnership with the Healthcare Information Management Association of the Philippines (HIMAP). The project is jointly funded by DTI (CIG under the Tatak Pinoy Program and EMB), Philippine Economic Zone Authority (PEZA), Department of Information and Communications Technology (DICT), and the HIMAP. This year’s mission is supported by the Board of Investments (BOI), and the Philippine Trade and Investment Center-Washington DC.

The Philippine participation in HIMSS provided a platform to showcase the Philippines’ prowess and innovations in healthcare services, cultivating connections with prospective partners and clients on a global scale; and gain valuable insights on international best practices. ♦

Date or release: 18 April 2024