Former Philippine Trade Undersecretary and Monetary Board member Nelly Villafuerte shares her insights on the business of medical tourism and how such a sector can be a bountiful boon for any nation to have.

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On January 20 of this year, the United States of America inaugurated its first African-American President and Commander-in-Chief, Barack Obama, into office.

With the aspirations of millions of Americans are the hopes of millions in the world that Obama’s monumental presidency could portent a change for new directions and better times.

Even the business process outsourcing (BPO) industry in the Philippines looks forward to positive changes under the Obama administration.

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Outsourcing has many arms, each with wide reach.

In an earlier Outsourcing Opinions article, “Outsourcing helps the Health and Medical Industries”, we discussed on the business model’s effectiveness in allowing contributions from different medical and research areas of different countries in the global pool of quality medical and health services.

Now, we will see how outsourcing is again changing the way people that still get quality living despite being sick in bed.

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“Health is Wealth.”

The words could not ring more true for the life science industry which includes pharmaceuticals, medical research and health product companies.

Companies in the West have been paving the way to wide-scale outsourcing of drug manufacturing and clinical research to Asia, potentially earning billions of dollars in savings.

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