The global healthcare outsourcing market is expanding at an unprecedented pace, and the Philippines—home to more than 200,000 healthcare professionals working remotely—is fast becoming a key player in critical areas such as clinical documentation, medical billing, and telehealth. At the center of this growth lies one essential enabler: the ability to seamlessly manage cross-border payments. This is where fintech leader Payoneer steps in.
According to the Department of Trade and Industry (DTI), the country is steadily moving away from traditional BPO offerings and pivoting toward higher-value knowledge services, particularly Healthcare Information Management Services (HIMS). In 2024, the sector generated $4.2 billion in revenue, with analysts projecting an annual growth rate of 9% 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 Avila, senior director of Customer Success for Asia-Pacific at Payoneer.
Much of this demand comes from North America, which represents about 75–80% of the Philippine HIMS market. Globally, the opportunities are immense: the medical billing outsourcing market is forecasted to hit $30.2 billion by 2030, while telehealth could reach $455 billion over the same period. For the Philippines, this means the chance to secure a bigger share of the global health outsourcing industry.
But with growth comes new challenges. Healthcare outsourcing companies must scale efficiently while maintaining workforce quality, compliance, and cost-effectiveness. One company navigating these hurdles is Global Medical Virtual Assistants (GMVA), which connects U.S. healthcare providers with Filipino remote professionals to support both clinical and administrative functions.
For GMVA, cross-border payments once posed significant problems. Transaction fees, minimum balance requirements, and payment delays created unnecessary strain on both the business and its healthcare professionals. In an industry where delayed payments can impact morale, trust, and even service quality, these inefficiencies were unsustainable.
“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 addressed this challenge through its multi-currency accounts, enabling remote professionals to receive payments from global clients into one secure account. Funds can be accessed quickly, converted into major currencies, and withdrawn directly to local banks—ensuring faster, more reliable compensation.
The impact was immediate. “The pandemic accelerated the shift to virtual healthcare and fueled strong demand for our services,” noted Preston Strada, marketing manager at GMVA. “We’re growing significantly and will continue to grow, so it’s important that we invest in tools that support our scalability,” added general manager Mary Grace Avelino.
For Payoneer, supporting GMVA and other healthcare outsourcing providers is part of a larger mission: empowering businesses to scale globally with seamless financial solutions. Operating in more than 190 countries and territories, the company extends its expertise across industries, helping enterprises of all sizes transact with confidence.
As the Philippines strengthens its position in the cross-border healthcare outsourcing landscape, fintech solutions like Payoneer are proving vital—not just for enabling global transactions, but also for supporting the professionals who deliver critical healthcare services worldwide.