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More than 5,000 health tech startups in India
yes, There are approx 5,000+ health tech startups in India.
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 health 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.
On that note, Astro-Strategist and Business Astrologer, Hirav Shah enlists the brightest healthcare business startup ideas for 2023.
1) 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, a health entrepreneur in 2023, can also start a low-budget medical transcription services business. The entrepreneur does not have to spend a lot while establishing the business.
2) Healthcare Application
Laptop Telemedicine Doctor Telehealth Stethoscope
Create a Brand New Healthcare Application. In 2023, more and more hospitals, as well as people, can use healthcare applications to monitor one’s medical records, medical treatments and other relatable medical conditions. Furthermore, healthcare apps can help individuals to manage their weight, diet and exercising routine.
So, viewing the 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.
3) 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 can provide at-home services at reasonable costs.
These kinds of services can 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.
Final Thoughts
The above mentioned healthcare business startup ideas for 2023, are viable and low-cost business models. A focused health entrepreneur can initiate the aforementioned business ideas and earn a decent amount of profits. Making your business to stand out in a crowded world will be easy task once you do your ground work properly.
Healthcare is a rapidly developing industry in India and opportunities are always on the rise. The Healthcare sector is one of the fastest-growing sectors in India, and by 2023 it is expected to grow up to Rs. 8.6+ trillion.
So, switch on your thinking hats !!
This could be your ticket to success in 2023-Concludes Hirav Shah, India’s Most Recognized and Sought-after Business Advisor, Strategist and Business Astrologer.
