8 Innovative Healthcare Business Ideas for Entrepreneurs

2 Dec · 6 min read

The healthcare sector is pretty lucrative with a very high predicted success rate in the upcoming future. In the last few years, healthcare has shown dramatic growth too. Hence it is a golden opportunity for entrepreneurs to seek and make profitable use of it.
The Pandemic also opened many doors for the betterment of healthcare development. Furthermore, healthcare is always the best industry for entrepreneurs to experiment with. It’s expanding gradually and is anticipated to touch the billion-dollar threshold very soon. With the increased health awareness in people and curiosity to work towards better is pretty fascinating in terms of growth.

By 2020, healthcare is projected to experience an evident annual growth rate of 13.3% at around $6.8 trillion, which is a huge number.

Hence healthcare can be a perfect domain for entrepreneurs to start a business with and give it wings. Aspiring business owners also have great opportunities to invest in the healthcare domain, due to a predicted boom, which none can overlook. Let’s dive in and learn more about it.

Mobile App Development

A well-known yet very powerful aspect of starting a business in healthcare is mobile app development. Gone are the days, when people used to stand in a queue and get appointments and schedule their sessions with doctors on the premises. Due to the mobile nature of everything around us, people’s expectations in the healthcare domain are also increasing.

Healthcare mobile app development provides you with many aspects to initiate your business smoothly:

Scheduling or Booking: Scheduling online or in-person appointments are one of the KPIs for app development startups. Online consultation is in trend and also helps people to consult with doctors virtually. It also helps patient who requires immediate attention or is located in remote areas, which is a plus point for your business to grow and spread awareness.
Online Pharmacy: Online shopping is in trend, so why not purchase medicines online? This business idea is in trend but still creating a trusted palace in people’s minds, hence it is a great opportunity to grab on and start your online pharmacy. It provides more reachability to people located in remote areas with less advanced healthcare solutions available.One more business KPI in this field can be to create a pharmacy application, which locates all the available pharmacies in your area, to act as one single solution for all medicinal needs.
Health Fitness Apps: Health consciousness is the new normal in today’s market, and this is a good sign of new business lines. Although it’s hard to knock out the importance of Gyms, Yoga Studios, or Dance Studios, a new business initiative is to develop Online Fitness Apps, for those who can’t take out time to go out and workout, and for those too, who are advised to stay home due to their critical health conditions. These fitness apps help you to grow immensely in the healthcare industry due to mobility and ease of access.
Medical Records Application: This is an absolutely successful business opportunity to invest in healthcare. As with the increase in population, and gradually increasing health problems, keeping health records handy becomes a hectic task and also involves a lot of paper waste. To reduce this problem, the best way is to keep a digital repository registered in the name of the patient and doctor to solve this tedious task. Which is convenient for doctors, healthcare workers, and patients both. It reduces the admin work as well.
Emergency Services: Some medical situations are critical, hence requiring immediate interception of doctors. While there are numerous emergency helplines, sometimes, they don’t work out due to busy lines or some other technical faults. To reduce that risk, business providers can collaborate with hospitals directly and provide emergency assistance through mobile apps. It can be an ambulance service, a doctor’s attention on a site, etc.While we mentioned various aspects of mobile app development helping businesses, entrepreneurs, and of course healthcare. These all services can also be served through a single app as well. All you need is a good development and support team to provide 24/7 assistance.

Healthcare Blogging

This is a new and creative initiative as a healthcare business. Over the past few decades, the world hasn’t been a very good place because of the spreading of deadly viruses and bacterias, and in that situation, everyone wants to keep a check on their health. Hence it is a very good opportunity for fresh doctors and dieticians to provide health and diet related tips and suggestions via podcasts or social media platforms, such as Instagram, Facebook, which are exceptionally popular and proving to be awesome for all kinds of influencers.

Healthcare Digital Marketing

Healthcare marketing is a new aspect in today’s market. Today being in business, no industry can survive without embracing digital marketing, due to digital trends and era taking place all around the world. And the same applies to healthcare. By understanding the power of digital marketing, many hospitals have started digital marketing already, which is a good opportunity for your startup or business to seek. You can outsource their digital marketing services, which is a win-win for both sides. Social Media also stands as a crucial opportunity for digital marketing.

Online Consultancies

Think of automated finance in the medical industry, sounds good right? If you are a business enthusiast, you can start consulting by collaborating with hospitals. It reduces a lot of hectic admin and paperwork as well as automates the finance of healthcare.

Room Service

We all love room service in hotels, but ever imagined medical room services? Yeah, that’s possible and currently working as a model too. The cause of providing this service is for the patients who can’t afford to get out of their homes frequently for checkups and tests. Hence this raises a business aspect for entrepreneurs and business enthusiasts to work upon.

Travel Planner

This is a very unique yet helpful aspect of healthcare business ideas. Critical patients suffer a lot, and they do have some travel constraints as well. However, sometimes, patients are referred from one hospital to another, or even from one city to another. Which is a critical step for patients and their relatives. Hence providing the consulting to them, making travel plans and arranging resources for to and from can be considered as a small business with good marketing strategies.

One more solution, which can be added is to plan some small refreshing trips for patients to change their minds, as in this fast moving era, even the families barely take that step for their patients.

Transcription Business

Transcription in medicine is in demand. This service can convert live speech to electronic text documents. Becoming a transcriptionist can count as a full time job, as long as you are in the right gear.

Maternity Stores

Maternity stores are nothing new in the market, but still is a competitive market. As the parents of the current generation put all their efforts to keep their child in trends, no matter the cost of costly cloth wears and toys. Hence this can be your start to invest in the medical domain as an entrepreneur.

Final Note

There are ample opportunities and verticals in healthcare to work on, it just takes your interest and creativity to find helpful and profitable business ideas. We hope this article helped you and has shown some light for the same.

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