The healthcare outsourcing market is expanding rapidly worldwide, and the Philippines, with over 200,000 remote professionals, is playing a key role in areas like clinical documentation, medical billing, and telehealth. Supporting this growth is the ability to manage global payments efficiently, a gap that fintech company Payoneer helps fill.
The Department of Trade and Industry reports that the Philippines is shifting away from traditional BPO services. The country is focusing more on high-value knowledge industries, such as Healthcare Information Management Services (HIMS). In 2024, the HIMS sector generated USD 4.2 billion in revenue. Analysts expect it to grow by 9% annually through 2028.
“The Philippines is becoming a global health technology outsourcing powerhouse, thanks to its skilled workforce, strong compliance standards, and cost-effective operations,” said Monique Avilla, senior director of customer success for Asia-Pacific at Payoneer.
Much of this demand comes from North America, which accounts for 75–80% of the Philippine HIMS market. Globally, the medical billing outsourcing segment alone is projected to reach USD 30.2 billion by 2030, while the telehealth market is expected to hit USD 455 billion by 2030. This creates a significant opportunity for the Philippines to capture a larger share of the global market.
However, this growth also brings operational challenges. Healthcare BPOs need to keep up with global demand while managing workforce quality, compliance, and cost efficiency. Among the companies that have experienced this firsthand is Global Medical Virtual Assistants (GMVA).
GMVA is a company that connects U.S.-based healthcare providers with Filipino remote professionals, offering support for both administrative and clinical tasks to help deliver quality healthcare services across borders. Before working with Payoneer, GMVA faced hurdles in cross-border transaction fees and high maintaining balance requirements, which created unnecessary strain on both the business and its remote professionals.
For a business that supports clinics, hospitals, and sensitive patient care in the U.S., delayed pay risked morale, trust, and overall service quality. “You shouldn’t have to work to get your money when you’re working. Our people need to focus on their patients, not on whether they’ll receive their money on time,” said Michelle DiClemente, accounting manager at GMVA.
Payoneer’s multi-currency accounts help remote professionals receive payments from clients and companies around the world into a single, secure account. They can get paid in major currencies, manage their funds flexibly, and withdraw to their local bank. This ensures faster and more reliable access to earnings, regardless of where the worker is based.
Preston Strada, marketing manager at GMVA, said the pandemic accelerated the shift to virtual healthcare and sparked rapid growth in demand for their services. “We’re growing significantly and will continue to grow, so it’s important that we invest in tools that support our scalability,” added Mary Grace Avelino, General Manager at GMVA.
As the Philippines strengthens its role in the global cross-border services industry, companies like GMVA turn to Payoneer to ensure fast, secure, and reliable payments to their remote teams. By offering flexible solutions, Payoneer empowers teams to scale efficiently and support talent wherever they are located.
Alongside healthcare, Payoneer supports a broad range of industries across 190+ countries and territories, helping businesses grow and transact globally with confidence.