Healthcare Mobile Apps’ Business Models: How to Get to the Top Positions within 3 Years
Healthcare is one of the most fast-developing fields on the market. New scientific discoveries help us to know ourselves more and to make our lives better. Mobile development is not an exception in this regard — healthcare applications nowadays is an essential tool for people of various ages.
A new mobile startup for doctors or patients is a business useful for customers and beneficial for entrepreneurs. But to really embrace the whole picture, we has prepared some new data on m-health business models for you, supplemented by the bunch of useful information. All kidding aside, mobile apps can really make you feel better.
Healthcare App Types You Can Find on the Market
Basically, there are two main categories of users who download m-health apps: these are doctors and patients.
Healthcare mobile apps for doctors are the most useful when it comes to health records. Often, professionals check out information on a certain type of a medicine, or they can search for the info to approve the diagnosis.
Healthcare mobile apps for patients include a wider variety of products for non-professionals. With such apps, users can manage their overall health condition, make an appointment with a doctor, get an online consultation, and so on.
This is a general list of m-health applications which sometimes can be used by both doctors and patients:
- Healthy lifestyle apps — they may include fitness apps or apps for general health management.
- Apps to control the weight — such products usually have trackers and sets of exercises inside.
- Women applications are connected with calendars and a pregnancy/feeding schedule.
- Apps to keep an eye on any chronic condition (such as the level of blood pressure or diabetes).
- Mental health monitoring with a smartphone could be helpful for disorders or stress control.
- On-demand doctor consulting — such apps usually include making an appointment with a doctor or getting an online consultation with him.
- Nursing apps are helpful for the work schedule and tracking.
- Medical record apps.
- Apps for a general medical education (created for non-medical specialists).
- Diagnostic applications.
This list is only a very basic set you will find in the app stores. A growing variety of healthcare mobile products changes our habits and our lifestyle. How exactly is it happening? Let’s see some numbers on this subject.
M-Health Statistics: What We Have Now and What to Expect Soon
Just to check the overall situation on the market of healthcare apps, we found some data on Statista and were amazed with the numbers we’ve seen there. The graphics we’re about to show you demonstrate how important this branch is now and how it will transform in several years.
This forecast allows us to glance at the next three years and compare the situation with the last five years. The m-health market size has grown more than 4 times from 2012 to 2017. And this tendency will continue to develop — we expect the market to be of $ 58.8 billion value in 2020 compared to $ 25.39 billion in 2017.
M-health industry market size projection from 2012 to 2020
(in billion U.S. dollars)
We also have data on mobile health revenue. Here, we not only see the progress but also the gradual increase of this progress. The growth in 2014 compared to 2013 was $ 2.4 billion, and it became $ 7.6 billion in 2017 comparing to 2016.
Worldwide mobile health revenue from 2013 to 2017
(in billion U.S. dollars)
We’ve already discussed the main types of healthcare mobile apps. Now, it’s time to know which ones will have the highest potential for your investments. Top 3 according to Statista are remote monitoring, diagnostic apps, and medical condition management.
Mobile health app categories that will offer the highest global market potential in the next five years, as of 2016
And finally, healthcare industry overview allows suggesting what impact mobile industry will have on the healthcare sphere in general. We may expect less spending on the medical services in the next several years.
Cost drivers where mobile health will have the highest positive impact worldwide in the next five years, as of 2016
Our research shows that the healthcare issue will be important for consumers all over the world — this is a good old truth we all know. To create a really helpful solution for mobile users, you should know which business model to choose and what features are considered to be extremely important for your platform.
Business Models of the Healthcare Mobile Industry
There are several ways to monetize your application if you’re about to create an m-health startup. The first and most popular monetization ways concerning such applications are placing ads and creating paid accounts. Besides, there are three more types of business models which can be applied in the mobile healthcare development.
Marketplaces are platforms aggregating lots of suppliers who sell their medical goods or services to the buyer. The marketplace operator is responsible for money transactions within the platform.
Examples in the m-health industry:
- Doctor database is a place where all information about specialists is stored: a complete list of doctors, their biography and specialization, pricing, and location.
- Medical equipment from different distributors is gathered in one place with an opportunity to buy it.
On-demand apps connect those who buy medical services and those who sell them. On-demand model is a type of the marketplace model, but services here are usually personalized and quickly-accessible.
Examples in the m-health industry:
- Personal health services gathered in one application: giving prescriptions, providing consultations, and checking health history.
- Sharing the patient’s experience means that people in a certain location share their opinions on the pricing and skills of the doctors by rating their visit and writing reviews.
Crowdfunding model gathers people who’re ready to donate a small amount of money to support a platform. The more members you have within the community the bigger sum of money your platform gets.
An example in the m-health industry:
- Social network for patients — here people can communicate and support each other via messaging or emergency calls.
The Cost to Build a Mobile Healthcare Solution
As you see, the app types in the m-health branch differ a lot, that’s why it’s rather difficult to sort out the most typical kit of features for your future application. However, to define the app cost, we’ve analyzed the most popular app types, and that’s what we found out.
There are three main features we’ve often met in the top healthcare mobile apps. Consider them when building your own product:
1. Tracking is a feature allowing patients to notice any changes in their health state. It concerns heart rate, glucose level, calories, etc. Tracking can be employed in healthy lifestyle apps as well as diet apps or tools for chronic conditions.
2. Scheduling is necessary for many types of healthcare apps. For example, if your app is based on doctor appointments or if it allows scheduling medicine intake, this feature is a vital thing in all cases.
3. The payment system is also necessary as medical services always concern paying for the treatment or insurance. Your user should feel comfortable undertaking all needed actions within one platform, and smooth transactions are a part of the user experience.
Other features which can also be included in the final version of your product:
- Push notifications
- Integration with social networks
- Access to the electronic medical records (EMR)
- Ratings and reviews
- Photo gallery, etc.
Healthcare as the Supreme Value
A great benefit of the healthcare apps for the business sector is a big number of app types. And no matter what type you eventually choose, you can get your profit and contribute to society. However, to build such application you’ll need a team with a great stack of technologies and a responsible attitude, that will quickly make your product a part of the global success.