Enabling the Philippines to be at the Forefront of the Upcoming KPO Industry
The Philippines has always been an ideal place for a tropical holiday. With its tranquil beaches and magnificent islands, it entices people the world over. Presently, however, the Philippines is no longer considered as just a vacation destination. The country has also become the business process outsourcing (BPO) and knowledge process outsourcing (KPO) destination of choice in the recent years. Many BPO and KPO firms have set up shop in the Philippines to cater to foreign companies that want to outsource core and non-core services. Aside from the BPO and knowledge process outsourcing industries benefitting from these recent changes, the medical field also profits from the surge of foreign “investments” as of late.
The Philippines has become a popular destination for medical tourism. The country’s high standards of health care and medical services coupled with lower costs have resulted in a fast-growing medical tourism. This may not exactly be considered business or knowledge process outsourcing services, but foreigners are still seeking the quality work Filipino professionals normally give for a lower cost. Americans and Europeans lead the pack of the “medical tourists” to the Philippines. They come to the country for major surgeries and other medical services too expensive to obtain in their own countries. Philippine hospitals are even offering a variety of medical tour packages. Much like those tour packages offered by travel agencies, a medical tour package makes it possible for a tourist to enjoy his stay in the country by arranging for him to undergo a medical treatment or several medical procedures. A medical package tour can even include taking care of airline ticket reservations to lodging accommodations in the country.
Hospitals offering medical services in the Philippines charge reasonable rates without compromising the quality of the treatment – much like how Filipino professionals in BPO and knowledge process outsourcing firms provide core and non-core services to their clients. Some will be surprised to know that the wide array of medical services available includes not only opthalmic treatment and plastic surgery but also organ transplants. A full set of dental implants can cost as much as $500 dollars in the Philippines, compared to about $3000 in the US. Hospitals in the country are well-equipped with the latest medical apparatus. Aside from the world class facilities, Filipino doctors and health workers are renowned for being warm, skilled and very fluent in English. To be able to communicate with one’s doctor effectively is no small thing when it’s your liver or your eyes you’re talking about.
With the undoubtedly high number of qualified medical professionals in the country, it’s no surprise that another kind of knowledge process outsourcing (KPO) business related to the medical field has developed in recent years. Along with the thriving medical tourism in the country, medical transcription has also flourished. In the United States alone, the medical transcription industry is on the rise and is estimated to be worth between US$10 billion to US$25 billion annually, and growing by 15% each year. Medical transcription is another type of knowledge process outsourcing service that is highly in demand as well. Medical transcription is the process of converting voice-recorded reports as dictated by doctors and health care professionals into printed form. A medical transcriptionist is responsible for turning a patient’s medical records into written form, making it convenient for doctors and patients to access the records over the Internet.
A kind of knowledge process outsourcing service, medical transcription came about due to the cost advantage. The Philippines has been on the forefront of medical transcription because of the high quality of service clients get and the relatively lower cost of outsourcing this type of service to the Philippines. The country undoubtedly has an abundant supply of medical practitioners who are fluent in both written and spoken English, thus the abundance of business and knowledge process outsourcing firms and the growth of the BPO and KPO industries. Medical transcriptionists are usually professionals with medical background or training. Although most KPO companies that offer this kind of service require their transcriptionists to undergo training, it’s still a big advantage if those wishing to take the job already have some sort of background in medicine. Nurses, medical technicians, and medical students have advantage over other applicants when it comes to this KPO business because of their familiarity with medical jargon. Many of those in the medical transcription workforce are retired health professionals.
Many fast-emerging business and knowledge process outsourcing companies have tapped into the talents of Filipino health care professionals and have enticed MT firms and hospitals in the United States to entrust medical transcription functions to Filipinos, the warm hand that cares for the world.
