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Sunday, July 14, 2024

How to start a health-tech business in Los Angeles

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Healthcare technology is one ideal way to bridge the gap between the demand and supply of healthcare services, especially in the remote and rural areas. This technology, in form of telemedicine, diagnostic apps and cloud solutions, speeds up the delivery of medical care.

Also, it helps share the burden of doctors, nurses, therapists and other medical professionals. If you too are up for building a startup in this niche, let us tell you that it is a highly rewarding domain. Healthcare tech development does require immense planning and effort, but it pays off.

Los Angeles is a highly recommended region to build this startup. For aspiring health entrepreneurs like you, here is our comprehensive guide that covers everything from validating your idea to launching it for target users.

Types of Healthcare Startups

It all starts with a world-changing idea. So, for the idea part, here are different types of healthcare startups and trending examples:

  1. SaaS Solution

A SaaS solution is a technical product that’s hosted on a central server rather than physical storage. It offers ease of development and deployment. SaaS managers or developers can automatically update the program without telling users to install the newest version. Examples of popular SaaS healthcare products:

  • Electronic health records
  • Pilling and payment management system
  • Patient relation management system
  • Learning portal for medical staff
  • Healthcare marketing software

 Most SaaS solutions earn through the subscription model. This works like a typical ‘pay-as-you-go’ arrangement where SaaS users can choose from different packages.

  1. Mobile App

Mobile apps will never go out of style. That’s because if you can practically do something, you have an app to support it. More importantly, if you can imagine something, you can come up with an app for that too. Healthcare app development is especially a huge domain to invest in.

It has sub-niches like fitness, mental wellbeing and mindfulness, patient management, condition diagnosis, etc. Here are some trending healthcare app ideas:

  • Mental health games for kids, adults and professionals like nurses
  • Employee wellbeing app for corporate users
  • Physical fitness app with diet courses and nutrition plans
  • Telemedicine app for automated diagnosis
  • Automatic prescription generator apps
  • Pill reminder journals and emergency contact apps
  • Diabetes and cancer medication reminder apps
  • Heart rate and cardiac activity monitor apps
  • Water and break reminder apps

An experienced healthcare app development company will not only build your app but also help you acquire a HIPAA compliance certificate, a document necessary before publishing any healthcare app on leading stores.

  1. Ecommerce Store

Starting an ecommerce store is one of the most convenient and economic tech ventures regardless of the niche. Now you want to start an online shopping store in the healthcare industry. You can choose to target domestic users with medical accessories. Or, go B2B and sell surgical products.

For an ecommerce store, you can go as simple as starting a WordPress website, then integrating it with WooCommerce. Next up, you need to list products and start selling. Or, you can hire the services of a professional Shopify or Magento developer and get a fully-functional store up and running in 10 days.

  1. Online Community

This tech venture basically works like a forum where you provide support for patients of a specific disease. This is an online community that strives to help either financially or emotionally to help cope up with diseases.

You can start an online community for cancer or diabetes patients. Or go for more critical diseases like Glioblastoma.

Build an online community on either social media groups, or start chat rooms on platforms like Slack. To monetize these, you can ask for donations. Then channelize the money and keep your cut for moderating.

With time, you can invite doctors and provide online consultancy. Seminars, conferences, and beach cleaning events can also help make money.

To work out the cost of your time and efforts, launch an online magazine for the patients and supporters of your community. Publish relevant, helpful and valuable content. It could be practical advice, affiliate links for products etc. You can either earn through traffic with free information. Or, sell your content on a paywall subscription basis.

How to Build a Healthcare Technology Product

Most technopreneurs say that every technical venture depends on two factors: an innovative business idea and, secondly, its right execution. Execution needs and team, and here, you need experience healthcare developers.

Los Angeles is one of the fastest-growing tech hubs in the modern world. That’s why it is ideal to hire SaaS and app developers in Los Angeles locally. This would help you with effective communication and project management.

Plus, you can meet your business analyst and technical developer in case your healthcare solution needs to change. Also, because LA’s talent pool is significantly growing, you can find a team of developers in your budget.

They offer competitive rates, which makes it cost-efficient to work with full cycle teams for design, development, testing and maintenance.

Now when you start to shortlist the right development team, you need to strike the right balance between:

  • cost of development
  • scope of services
  • cost of human resource
  • tools and technologies
  • strength of portfolio

Once you have the team, here are 5 steps to building your Healthcare product:

  1. Generate an idea, complete market research and validate your business plan.
  2. Find an app or SaaS development team. Create a technology stack for your product.
  3. Divide work into milestones. Then strictly monitor the progress of development.
  4. Complete the app coding. Then test the SaaS/app and deploy.
  5. Market your product to the right target audience. Pick hospitals, Quora and Reddit.
  6. Maintain the performance of your healthcare SaaS product. Send updates when necessary.

Wrapping Up

Know that once your health-tech startup launches, it requires continual marketing in the right direction such as SEO services for startups. To make your startup a success, keep validating your product value. Also, provide technical support to your clients and users and help them experience the best of your features.

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