Investment is always done with a vision to earn; how clear the vision is, depends on your knowledge and calculations. Medical field is a vast one, spread into each part of globe, with varied functioning but one goal – to take care of everyone’s health. However, there is a lot of investment in this sector, and earning is obviously an integral part, after all everyone has a family to feed. That is why there exist consultation charges and visiting charges and multiple expenses alike whenever you visit a hospital or a clinic.
Although telemedicine has changed the overall scenario of how doctors used to work earlier, but this method still remains a paid one, including a lot of investment, thus requiring the patients to pay and consult the doctors via the telemedicine apps. But this method being relatively new, the developers and doctors and investors are seen in a dilemma sometimes as to what are the different ways to generate revenue from a telemedicine app.
So, here we are, with a brief yet concrete layout of options with which money can be earned from a telehealth app:
- Membership Plans
This method is not restricted to just patients, but can be applied to doctors as well. Both doctors as well as customers can be offered a yearly membership at a specific cost, along with discounted rates for the following years. There can also be membership plans for every month which can be renewed as well.
- Pay Per Consultation
This option of monetization will require the patients to pay a specific fee for every consultation, which can further be fixed for a specific time period only, after which the patients have to pay for every minute in case the time of consultation exceeds. Furthermore, consultation charges can also vary with the specialization of the concerned doctor and his consultation fee.
This option can only be utilized if one organization is overburdened with appointments and not able to cope up with the demands of patients. In such a case, that organization can outsource and give its franchise for a particular amount to some other health organization.
- Software as a Service
Telemedicine app software can be provided in the form of a service to healthcare establishments.
The monetization plans may differ according to the prevailing conditions in a specific region or industry. But, once integrated and implemented in the desired way, can generate a huge revenue to the investors.
To develop a telemedicine app or to enquire about the same, contact us at firstname.lastname@example.org and we would be glad to assist.