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Furthermore, it is important to note that healthcare provider businesses face a considerable amount of exposure to laborcosts. This is especially true for more labor-intensive provider businesses like home health, personal care services, and hospice, where labor can account for more than 50% of costs.
The Philippines’ outsourcing industry has grown rapidly over the past 20 years, from contributing less than 1% of the country’s GDP in 2000 to around 10% now. A Cost-Effective Source of Labor. One of the key factors for business owners to outsource and offshoring their job is lower prices.
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