Healthcare and Medical App Business Plan
State of Healthcare and mHealth Startups Types of Healthcare Apps 3 Tips To Writing Your Medical App Business Plan Putting Your Medical App Business Plan Together While technology has helped progress many industries, the medical and healthcare industries may be the most important. From tracking health to accessing medical help quicker, a variety of new healthcare apps have entered the market over the last two decades. As a result, the amount of investment going into these types of apps have attracted hundreds of millions of dollars in investment. However, before an entrepreneur can raise investment, they need to first create a strong medical app business plan.Although healthcare app business plans are very similar to other types of app business plans, there are many differences that you must be aware of when writing one. In this post, we will provide several tips for writing a strong business plan for a medical app startup. State of Healthcare and mHealth Startups As of 2018, there were an estimated 318,000 health apps on the market with over 200 new apps being added each day. This was double the number of health apps that existed in 2015. With a total projected value of over $28.3 billion and an expectation of reaching $102 billion by 2023; there’s no question why investors are so attracted innovation in this industry. For startups, these investments are necessary. In a study of 2,400 mobile health stakeholders, the average cost of development for a mobile health app (from conception to launch) was around $425,000. There was a large portion of these startups though (36%), that spent less than $25,000 up until launch, and 12% spent over $500,000. In other words, for a startup to be successful in this space, some level of investor capital will be necessary. However, with so many new startups entering the market, the competition for investment is fierce. Investors want to invest in highly innovative health tech startups that are solving real challenges and have the potential to affect millions of users. Types of Healthcare Apps There are many different types of healthcare apps to provide a variety of solutions. In general, these apps fall into one of the following categories: Clinical & Administrative : hese are applications used by healthcare staff to manage records, review charts, keep track of patients, and more. Monitoring and Tracking : oftware that monitors patients in real-time, such as heart monitoring, blood glucose monitoring and more. Locators, Appointments & Reminders : Includes apps that allow patients to search for healthcare providers, set appointments, set reminders to take medicine, and more. Lifestyle : Includes apps related to living a healthy lifestyle like fitness apps, nutrition, and food apps, and more. 3 Tips To Writing Your Medical App Business Plan When writing a medical app business plan, there are several considerations that should be made. These considerations will help to ensure that your business plan stands out among the competition and makes the biggest impact among readers. Team & Advisors For any startup, investors want…