Philippines hits $103-M mark at HIMSS 2024 Event

(DTI photo)

By Francis Allan L. Angelo

The Philippines’ dynamic showing at the HIMSS Global Conference and Exhibition 2024 (HIMSS24) has culminated in a promising tally of US$ 103 million from potential exports and investments.

The accomplishment stems from the country’s seventh consecutive participation at the event, held from March 11-14, 2024, at the Orange County Convention Center in Orlando, Florida.

The initial sales from the trade and investment roadshow are recorded at US$ 53 million, which includes finalized deals, contracts currently under negotiation, and prospective sales.

Additionally, the country anticipates potential direct investments of US$ 50 million within the next three years.

At the exhibition, the Philippines took the opportunity to highlight its strengths in information technology (IT) and healthcare information management services.

With offerings ranging from Revenue Cycle Management and Healthcare IT to Telemedicine and Clinical Support Services, the Philippine delegation showcased its ability to compete on a global stage, especially in the lucrative US market.

A strong contingent of 17 top-tier HIMS companies from the Philippines attended HIMSS24, including ADEC Innovations, Connext, Everise, and Teleperformance. Their participation is a strategic move under the PH HIMS US Roadshow, which included facility tours, learning sessions, and a business forum in Florida.

The Healthcare Information Management Association of the Philippines (HIMAP) noted that the national healthcare services industry is experiencing significant growth, having generated US$ 4 billion in revenue and 190,000 full-time equivalents (FTEs) in 2023.

The industry is maintaining a steady 9% compound annual growth rate (CAGR) from 2022 to 2028, indicating that it is well on its way to exceeding the ambitious goals of the IT-BPM 2028 Roadmap.

DTI Undersecretary for Competitiveness Innovation Group Rafaelita Aldaba, addressing a business forum in the US, praised the strides made by Philippine firms.

“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,” Aldaba said.

Aldaba also emphasized the incorporation of new technologies like AI, enabling Filipino workers to assume more complex and high-value roles.

The Philippine presence at HIMSS was orchestrated by the Department of Trade and Industry (DTI), through its Competitiveness and Innovation Group (CIG) and the Export Marketing Bureau (EMB), and in collaboration with HIMAP.

The project is co-funded by DTI, the Philippine Economic Zone Authority (PEZA), the Department of Information and Communications Technology (DICT), and HIMAP, with support from the Board of Investments (BOI) and the Philippine Trade and Investment Center-Washington DC.