Some highly beneficial healthcare business ideas include a telemedicine/healthcare application, dietician and nutritional food app, home healthcare facility service, medical billing service software, medicine delivery app (online pharmacies), a live streaming app for doctors and fitness experts, medical tourism apps, and healthcare blogging. The only problem is that not every business idea can be feasible or beneficial for every startup.
That is why knowing how these businesses serve people, what benefits they can offer, and which is currently thriving in the market is essential to choose an idea that can succeed. For example, 86.3 million people in the US used healthcare and fitness apps in 2022. Only by knowing such information can you determine a healthcare business idea that is feasible, lucrative, and easy to sustain for your startups.
In this article, you can learn about healthcare business ideas and determine which ideas are most suitable for your goals.
Top 8 Healthcare Business Ideas for Startups
The medical business ideas mentioned below include services that are currently in high demand and have the potential for rapid growth.
A telemedicine application is one of the most profitable healthcare businesses in the current healthcare market. They were in demand before the COVID pandemic; their demand has increased substantially after it. It provides an opportunity for healthcare institutions to implement revenue streams with incredibly higher chances of success.
|Global Telemedicine Market
Source: Fortune Business Insights
The reason for such growth is the highly convenient and user-friendly experience a telemedicine app can provide patients, doctors, and healthcare institutions. These apps can have various features like appointment booking, call doctors, find clinics or doctors, and electronic health records (EHR).
- They make it easy for patients to book appointments and get virtual medical care for minor health issues.
- Doctors can quickly access patient records on their phones or contact any of their peers (known or unknown) using a telemedicine app.
- Using healthcare cloud computing, institutions can store a large amount of easily accessible medical data without creating any additional physical storage space.
These telemedicine service applications create healthcare business opportunities for multiple revenue streams that you can incorporate during development. However, you must primarily focus on visual appearance, convenient ease of use, and one-stop healthcare app development services for the telemedicine app. They help ensure the app can succeed, gain a rapidly growing user base, and generate revenue.
Dietician and Nutritional Food App
Becoming a nutritionist/dietician is a service that can cater to a large target audience while providing services on an app that delivers nutritional food to the door is a highly lucrative advantage. Such an app creates a symbiotic relationship between the products and services where each of them can thrive on the success of another.
|Global Personalized Nutrition Market
Source: Allied Market Research
The only way you can take advantage of this growing market is by catering to every type of customer a nutritionist/dietician can have. These services are for weight management, muscle growth, immunity, digestive health, sports nutrition, clinical nutrition, cardio health, and pet diet (veterinary).
How extensive your nutritionist services are and which food products you can provide through your app will determine its success and growth.
For example, if your nutritionist app offers weight management tips, muscle growth advice from experts, diet plans, and healthy food products available for delivery, your app will serve a large audience and offer services that are currently in high demand.
Comprehensive nutrition plans, home delivery, an attractive interface, and user-driven ease of use are the key elements your nutritionist app will need to succeed.
Home Healthcare Facility Service
A home healthcare facility service is always in demand due to the vulnerable nature of the human body. Whether it is a chronic condition, an extreme accident that takes too long to recover from, or old age, home healthcare facility service can offer patients a comfortable and familiar environment where they can rest and recover while receiving top-of-the-line medical care regularly.
|Global Home Healthcare Market Size
Source: Grand View Research
Starting this service is a great way to build a lasting revenue-driven business. Be that as it may, you need access to healthcare professionals, cutting-edge hospital equipment, and the budget to support them until your business generates good revenue. A home healthcare facility will require doctors, nursing staff, therapists, pharmacists, and medical equipment technicians.
You will also need medical equipment, such as wheelchairs, medication pumps, non-surgical instruments, monitoring equipment, wound and skincare kits, surgical clamps, scalpels, forceps, gloves, operating scissors, pacemakers, walkers, hospital beds, and ventilators. On top of that, you will also need a license and become a certified healthcare service provider according to the laws of your city, state, and country.
Once you figure out all of the things mentioned above, all you must focus on is 24/7 customer support, feedback implementation, and improvement, and your home healthcare business will thrive in the market.
Medical Billing Service Software
Medical billing can be one of the most mentally excruciating activities a person has to do in a hospital or clinic. It involves a process where a person has to submit a claim to insurance companies to acquire the money for the received healthcare services.
The process involves a CMS-1500 form, patient payment statement, insurance plan, and official identification of the patient. Handling these documents and processes physically and for every patient can be tiring for hospital and clinic staff when their primary task is to take care of patients and help them recover. It is where a medical billion service software comes into play.
|Global Medical Billing Outsourcing Market Size
Source: Grand View Research
However, you need certification from appropriate authorities to own and provide such services. Once you manage to get that, all you need are software developers to build simple and user-friendly software that can automate repetitive tasks and accelerate the medical billing process, saving hospital time and resources.
You can charge a service fee for every medical billing claim processed through your software.
Medicine Delivery App (Online Pharmacy)
Much like a food delivery app, customers can use a medicine delivery app to order the medicine they need, provide prescriptions where necessary, and get the drugs delivered to their doorstep. The home delivery aspect of these services and the continuous demand for medicine makes this one of the best healthcare startup ideas.
|Global Pharmaceutical Drug Delivery Market Size
Source: Precedence Research
Running a medical delivery app will also require you to be a certified pharmacist or get the certification to sell medicine from various pharmacists. Additionally, you need quality-centric medical app development solutions to create an app with convenient ease of use and attractive design. As a startup, you can start with an MVP and update the app as your delivery business generates revenue and grows.
Live Streaming App for Doctors and Fitness Experts
Another revenue-driven healthcare idea is a website where multiple doctors, nutritionists/dieticians, yoga teachers, and fitness experts live streaming sessions to advise everyone about healthcare. The services can include disease prevention tips, personal hygiene tips, yoga poses videos, muscle growth workout plans, weight management tips and diet plans, muscle growth diet tips/plans, or discussions about common health issues.
Such live-streaming experts will attract an audience curious about their health, trying to gain muscle, lose weight, learn yoga, or wants to prevent life-threatening health issues. Such an audience will be willing to pay for the services (tips and advice) certified healthcare experts can provide.
The app acts as a third party for healthcare experts and customers where they can connect with one another to offer and receive paid services. You can charge a service fee (15 to 25%) for every payment made (by customers) to access a live streaming session of healthcare experts.
Healthcare experts like doctors, fitness specialists, and nutritionists will also make money regularly if they offer helpful and valuable services.
Medical Tourism Application
Medical tourism is a service that allows patients to find a hospital/medical facility that provides better medical care for their conditions. These better hospitals could be doctor-recommended or just widely known as effective in their treatments. With a medical tourism application, customers can plan the trip on the app to the location they need to go, book plane or train tickets, book hotels nearest to the hospital, or connect with hospitals to arrange a bed (for accidents/life-threatening health issues, chronic conditions, and senior citizens), and pay online.
|Global Medical Tourism Market
Source: Fortune Business Insights
What makes this different from a regular tourism app?
It helps customers plan their entire medical treatment experience on a single platform. Some patients may also need to plan a round trip, which can do with a medical tourism app. An all-in-one package will contain everything like Cab from to Airport, Cab from Airport to Hotel or Hospital, booked hotel room for as long as the doctor wants the patients to stay, and the same travel services for returning home.
The only thing such an application cannot provide is the payment patients will need to make to doctors/hospitals. Most healthcare institutions will not allow payments through a third party. And medical care payments are known and happen after the service is complete.
Nevertheless, starting a medical tourism app business is a lucrative option for startups to target a specific yet large user base. As mentioned above, the success of the application will depend on a customer-friendly interface, convenient ease of ease, fair pricing models, and helpful services.
Healthcare blogging is a great way to provide insightful information about healthcare, hospitals, and diseases in layman’s terms (for example, Healthline and WebMD). This ideal can work because not everyone knows about or understands the various technical and complex healthcare terms.
Such blogs can inform users about medical tips, disease prevention, the best hospitals nearby, the best doctors nearby, different causes of health conditions, personal hygiene tips, medical surgery processes, medical equipment, and risks with medical treatments.
This type of blogging business can also include a blog that is a summary of a paid ebook about a more extensive topic like – Introduction to Heart Diseases, How to Prevent Them, and Different Treatments.
You may need to collaborate with a doctor on a regular basis to ensure your healthcare blogs are accurate, not misleading, and provide value to readers. Additionally, ensuring your blogging business can reach target users (and gain a regular user base of readers) will require SEO optimization and content marketing services.
Such blogging businesses can generate money through paid ads, featured hospital listings, paid ebooks, and sponsorships.
Choosing a business idea that provides value to the target users in the healthcare industry can lead to lucrative outcomes. Focus on which ideas can improve healthcare solutions for medical institutions and patients and you will be able to identify the best healthcare business to start in the current healthcare market.
Speaking about the healthcare market, the demand for secure and user-friendly telemedicine apps increases every day. It is a widely recommended idea to help you build a value-driven and profitable business. Apps are currently in demand due to the ease of use they can provide (whether it is for medical care, food delivery, or online education).
Therefore, building any app for providing healthcare services (like appointment booking, EHR, medical delivery, healthcare tips, or dietician/nutritionist services) should get your business noticed by the target audience.
Frequently Asked Questions
Healthcare/telemedicine applications, pharmacy stores, medical insurance sales, and 24/7 ambulance services are currently the most profitable businesses in healthcare.
Choose a business (like home healthcare services, medical app, or medical billing services), find out which laws your healthcare business needs to comply with to avoid legal issues, comply with them, build a digital platform like an app and website, advertise the services, and launch.
Also, regularly monitor customer feedback/reviews and improve your healthcare services accordingly to ensure faster and more sustainable success/growth.
Advertise your healthcare business, ensure that your healthcare services help customers in ways they expect, provide 24/7 customer support, and monitor feedback/reviews to improve your services before customer defections happen. Following these common tips should help you grow your healthcare business.
Determine which type of healthcare app business you want to build (Telemedicine, dietician/nutritionist, EHR, or medical delivery app), secure a budget for the app development project, and hire a team of experienced healthcare app developers.