Into the future, the adoption of electronic medical records is a necessary step, one is expected to usher the healthcare industry into the future. While the need is there, healthcare providers still remain skeptical and cautious of the move. This is not because they do not wish to change the system, but it is because the costs of which would be significant and they warily eye the adoption of the outsourcing such as with the medical services in order to fulfill the need without breaking the bank. Although the outsourcing has gained worldwide acceptance, the US healthcare market still faces doubts over accepting offshoring as a solution for the healthcare reform which includes the adoption of electronic medical records and the transition of medical coding to ICD-10. At its highest, it estimates $50 billion market, prospects for increased revenues from healthcare related services is at its highest.
In the sector, India is one of the countries currently positioning itself at the fore in an effort to obtain a significant share of the business in sector. The country is one of the leading outsourcing destinations in the world, catering to about 35-40 percent of the business process outsourcing market based on the third quarter 2010 results as presented by the Everest Group on the October 28. In an interview with HCL Technologies, Vice Chairman and CEO Vineet Nayar names healthcare along with the public services as verticals that the company is current focusing on. The cognizant President and CEO, Francisco D’Souza also advised on the 2nd of November that the company believes that the healthcare reform will be one of the drivers for growth in the outsourcing business. The outsourcing company 3i Infotech meanwhile announced on the same day that it is expanding its service offerings in North America including healthcare through its business process outsourcing group.
The Philippines on the other hand is also positioning itself. A country boasting of an increased surplus of healthcare professionals. The country is moving to convert the surplus into business process outsourcing professionals working in the healthcare sector such as medical billing and medical coding. The Philippines like India is one of the top outsourcing destinations. By the Business Process Association of the Philippines which was released, outsourcing revenues in the country, particularly in IT-BPO is continuously growing. The industry can grow from $9 billion in annual revenues and approximately 500,000 direct employees today to $20 billion and 900,000 employees by 2016 if the current conditions are sustained and with a lot of hard work.
REFERENCE:
http://www.blog.infinit-o.com/healthcare-outsourcing-providers-remain-optimistic-concerns/
