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22 May 2024

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4 different types of healthcare business

4 different types of healthcare business 

Healthcare is one of the most varied business sectors in the world, not to mention the most rewarding. Any area within this sector has the potential to make a positive impact on a person’s life, and in some cases you might even be saving a life. If you’re considering healthcare as your next startup project, here are some of the most popular areas to look into.

#1 Medical supplies

Patients across the world need regular medical supplies. That could be diabetics who require insulin, elderly people who need oxygen tanks or people suffering from chronic illnesses who require regular prescriptions. Selling and delivering these supplies is a popular and rewarding business model. Medical device pricing research will help you better understand your target market and how much to charge to deliver value while remaining competitive. While some businesses do operate from high street locations, many of your customers likely suffer from mobility issues, making it more difficult for them to pick up their supplies in person. Offering a fully remote, online service is hugely beneficial.

#2 Respite care

Respite care simply means sending in carers who will look after a patient, giving the usual carer some much needed time off. Caregivers often attend their patients around the clock, which is a hugely stressful and emotional experience. Providing respite care for even a few hours gives them some time to themselves, improves their mental health and the quality of their care. You’ll need to hire and screen a team of care workers who are flexible enough to offer respite care, sometimes at short notice. This is one of the more rewarding business options on the list because it involves direct intervention and interaction with patients and their carers.

#3 Supplying uniforms and PPE

PPE was big news during the pandemic, but medical staff in all sectors need uniforms. These range from nurses’ scrubs to lab coats and other medical clothing. Depending on what you plan to supply you’ll need to meet various legal criteria, but this business is otherwise fairly easy to set up. Source the uniforms from a wholesaler and then approach clients directly. Prioritize comfort (medical staff work long days) and protection. Word of mouth sales are enormously important for generating repeat custom in this sector, so maintain active lines of communication with your clients. Discounts and offers for bulk purchases help to drum up custom early, too.

#4 Alternative healthcare

Alternative healthcare has a broad remit. Treatments including acupuncture, massage therapy and herbal remedies are all broadly classifiable as alternative healthcare and they’re popular. As with any kind of healthcare, there are lots of legislative points to comply with, but these can be reduced by zeroing in on one specific area rather than making your focus too broad. Although many of these treatments aren’t covered by standard health insurance, there’s plenty of evidence to suggest that patients are willing to pay for them. Alternative healthcare is a burgeoning market and one that’s worth early investment.

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