The Philippines is emerging as a key player in the growing global health-care outsourcing market, a trend that has increased the need for efficient cross-border payments. New York-based fintech Payoneer reported that over 200,000 remote professionals in the Philippines work in areas such as clinical documentation, medical billing, and telehealth.
Monique Avila, senior director of customer success for Payoneer in the Asia-Pacific region, said the country is becoming a health technology outsourcing hub due to its skilled workforce, strong compliance standards, and cost-effective operations. Citing data from the Department of Trade and Industry, Payoneer noted that the Philippines is shifting from traditional business process outsourcing to higher-value knowledge industries like health-care information management services. This shift presents an opportunity for the country to capture a larger share of the global market.
However, the growth of health-care outsourcing brings operational challenges. Companies must manage workforce quality, maintain compliance, and ensure cost efficiency while meeting increasing global demand.
Payoneer highlighted Global Medical Virtual Assistants, which connects U.S.-based health-care providers with Filipino professionals, as an example. Before partnering with Payoneer, GMVA faced high cross-border transaction fees and balance requirements that strained operations. With Payoneer, remote workers can receive payments in major currencies, manage funds flexibly, and withdraw to local banks, providing faster and more reliable access to earnings.
(Source: Philippine Daily Inquirer)
