Healthcare firms eye $30 million revenues from business leads

MANILA, Philippines — The Philippine delegation of healthcare information management services (HIMS) firms expects to generate $30 million worth of revenues from business leads from its recent participation in an annual gathering for companies in the digital health ecosystem in the US.

In a statement yesterday, the Department of Trade and Industry (DTI) said the nine companies part of the Philippine delegation generated up to 300 leads during the 2022 Healthcare Information and Management Systems Society (HIMSS) annual conference and exhibition held at the Orange County Convention Center in Orlando, Florida last March 14 to 18.

“It is estimated that these leads will eventually generate around $30 million in combined revenues for the Philippine-based HIMS companies that were showcased at HIMSS 2022,” DTI said.

At least 30 of the potential clients are considered tier-one or “hot” leads with near certain prospects of conducting business with the Philippines.

Philippine-based companies that participated in the HIMSS 2022 are Visaya KPO, DynaQuest Technology Services Inc., Connext Global Solutions, HYBrain Development Corp., ADEC Innovations, Inspiro, Advanced World Solutions, Pointwest Innovations Corp., and Phoenix Virtual Solutions.

These firms provide services and solutions in the HIMS workflow.

During the event, Trade Undersecretary Rafaelita Aldaba and ADEC chief executive officer James Donovan highlighted the benefits of working with HIMS firms in the Philippines.

Aldaba said “the key ingredient to our success in the HIMS industry are the Filipino workers who have the skills, the dedication, and the high level of trainability making us attractive to foreign investors.”

Kenneth Yap, commercial counselor of the Philippine Trade and Investment Center in Washington, D.C. said the HIMS is the most promising and one of the fastest growing sub-sectors of the country’s information technology and business process management industry.

There are around 200,000 individuals employed in the country’s HIMS industry.

Despite the pandemic, the Philippines HIMS industry revenues are expected to grow by 7.3 percent to 10.8 percent this year.

In 2019, the country’s HIMS industry generated $2.96 billion worth of revenues and provided jobs to over 143,000 individuals.