The Philippines is among the hardest hit country from the COVID-19 pandemic as its economic gain contracted from Asia’s most dynamic to Asia’s most vulnerable. From the span of 2020 to late 2021, the sporadic restriction and lockdowns have adversely affected the Philippine economy. Moreover, travel was restricted to the Philippines and many investors put off their planned travel at a later date.
The Philippine economy saw economic contraction – not seen since the post second world war as the workforce and the government was still dealing with the disruption of the pandemic.
HIMS 2022: Reinvent Health
HIMS 2022 presented a bright outlook on what is in store for the global healthcare solutions and services markets. This bodes well for specialized providers such as service providers and solutions enablers as healthcare is changing with digitalisation. The same digitalisation was the world’s response to the global disruption brought upon by the pandemic. With the increase of digitalisation, telemedicine and telemetry was the primary way of conducting basic healthcare consultations while stay at home mandate were still in effect.
Digitalisation of healthcare is here to stay and it is still evolving where new opportunities for healthcare solutions and service providers will find plentiful opportunities in the converging platform of online, digital, exchange systems, software, over the video consultation and nascent technologies.
Philippine HIMS: Opportunities in 2022 and Beyond
In 2022, the Philippines have been managing the pandemic effectively while variants are reported to be surging across North and East Asia. The low rate of COVID-19 transmission as 66 million Filipinos are fully-vaccinated have allowed the Philippine economy to re-open and try to regain its economic vigor.
According to the Philippine News Agency, the country’s HIMS sector is eyeing a $5 Billion revenue threshold this year. The country has been a major global player for health information technology and process management – often hosting and servicing global healthcare institutions ranging from patient care solutions providers, the electronic health records (EHR) industry and global health insurance providers through IT, back-office functions, health information coding and network & systems development services.
The Philippine healthcare information outsourcing and management services is looking bright as it opens for new business.
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