3 Healthcare Startup Ideas that New Entrepreneurs Can Follow

- BY Jaspreet Kaur
Feature Writer, BusinessEx
- |
- May 20,2019
- |
9 Mins Read
The healthcare industry is one of the thriving sectors in India. The main factors that lead to growth in the healthcare sector are a social impact, which the healthcare startups create by helping diseased individuals and secondly, and a wide range of healthcare services, which the healthcare companies offer, in turn, making profits.
Considering these factors, it is essential for new entrepreneurs to initiate healthcare startups. By entering the healthcare industry, entrepreneurs will be contributing to society by introducing user-friendly healthcare devices and at the same time, generating profit.
Healthcare Business Startup Ideas for Entrepreneurs
Since there is a wide range of healthcare startups in the industry, entrepreneurs have an ample of startups to choose from. Some of the prominent healthcare business startups ideas are:
- Medical Transcription Services Business
In the healthcare industry, medical transcription is written in two forms—oral and written. The latter type of medical transcription (written) is easily available from hospitals or doctors, whereas for the former type of medical transcription (oral) the medical transcriptionist is employed to convert the orally dictated transcription to the written form.
Hospitals commonly outsource vendors for medical transcriptions and pay them in accordance with the number of transcriptions completed. Like other medical transcriptionists, an entrepreneur can also start a low-budget medical transcription services’ business. The entrepreneur does not have to spend a lot while establishing the business.
- Create a Healthcare Application
Nowadays, hospitals, as well as people, are using healthcare applications to monitor one’s medical records a lot, medical treatments and other relatable medical conditions. Furthermore, healthcare apps help individuals to manage their weight, diet and exercising routine.
So, viewing uptrend of healthcare apps in the market, the entrepreneurs can utilize this opportunity and start healthcare apps. After researching in the medical sphere and knowing problems of the masses, the entrepreneurs can find the right business idea and accordingly, create the healthcare business.
- Home Healthcare Services’ Business
There are lots of patients who are unable to receive proper medical services after discharge from hospitals. Considering the needs of those patients, healthcare services are providing at-home services at reasonable costs.
These kinds of services create a social impact and they also become a source of revenue for people. By implementing the same idea, entrepreneurs can start their own venture and begin serving diseased, old patients. Before running the business, an entrepreneur needs to ensure that the company meets the needs of patients, has employed trained staff and also has the latest medical equipment.
These healthcare business startup ideas are viable and low-cost business models. Any entrepreneur can initiate the aforementioned business ideas and earn a decent amount of profits.
More from Jaspreet Kaur
5 C’s Entrepreneur must be aware...
Getting a Loan is a difficult task so one must be prepare...
July 11, 20173 Min Read
What incubator provides startup...
Startups need incubators for their overall development...
January 10, 20183 Min Read
When Is Debt Better Than Investment?
An entrepreneur must consider lending as an option...
January 17, 20183 Min Read
8 Food Business Ideas Pick Up Steam...
Seeking business opportunity in the food industry then...
January 18, 20183 Min Read
How to maintain a good business...
A good relation between mentor and entrepreneur builds...
January 20, 20183 Min Read
How online networking helps small...
A one stop solution for all business related problem...
January 22, 20183 Min Read
Why invest in the leisure and entertainment...
Investing in the leisure and entertainment industry...
January 23, 20183 Min Read
Why you should invest in a startup?
Investing in a startup is the fastest way to get a...
January 24, 20183 Min Read
When is the right time to exit...
Starting a business is not a child's play so it is...
January 29, 20183 Min Read
5 things good mentors do differently
An entrepreneur seeks the support of a mentor in the...
February 05, 20183 Min Read
7 reasons why buying a business...
Buying an established business means that you are one...
February 06, 20183 Min Read
Social Media for Brand Promotion
Small businesses are building up their own brand name...
February 09, 20183 Min Read
Recommended for you
- September 30, 2021
- September 17, 2021
- August 13, 2021
Latest News & Articles
- July 11, 2017
- January 10, 2018
- January 17, 2018