Despite the rapid growth, the medical applications market is far from being saturated. Moreover, the very structure of the industry is changing. For example, in the past, the main emphasis in the industry was on the development of lifestyle applications regarding sleep, exercises, and nutrition. Now, the share of services that allow you to communicate with doctors, control your physical condition, and analyze symptoms is growing rapidly. All these circumstances attract a huge number of entrepreneurs to the medtech industry, and they are ready to fight for the user’s attention. Since the competition is intense, any detail is important for the application success: sales, marketing, and, of course, the technology the project is based on, along with reliability, convenience, and design. All of the above is quite easy to achieve, if everything is thought out properly at the development stage. However, good execution is half of the success, and the other half is starting with a good idea. That’s why we are sharing 5 curious ideas of healthcare apps, and in order to better understand the prospects of this area, let’s also check out the profit that these applications can bring their creators.
1. Dentists Healthcare App
Speaking about solutions for medical institutions, there are quite a few. However, dental clinics need industry-specific healthcare apps. For example, such solutions must have a dental record, which allows the clinic to keep a history of treatment for each tooth.
A striking example is Open Dental (the old name was Free Dental) – perhaps the most famous open-source program for dentists. With its price, customizability, and customer focus, Open Dental is the best software for managing a practice in one place. Open Dental is perfect for dentists who require affordable software with extensive customization options. It is a fairly functional Windows program that includes meeting planning, visualization, and 3D dental mapping, along with other important functions. However, the full-featured version is only available under a commercial license, as it includes license materials from the American Dental Association (ADA) and the Code of Dental Procedures and Nomenclature (CDT). Support is paid as it is the main source of developers’ profit. Since the foundation of Open Dental in 2003, the company has managed to participate in 1 round of funding. The Open Dental funding round was held in April 2020 and attracted investments totaling $2.0 million.
2. Healthcare App For Remote Communication With The Doctor
Telemedicine around the world is experiencing a second birth: in a lockdown environment, virtual appointments with a doctor are one of the safest ways to consult patients. Moreover, a number of companies even include such services in the insurance package, and clinics are actively implementing this software, as patients like this kind of “technical support”.
The Doctor on Demand app may be considered a noteworthy case here. This service connects the patient with doctors within a certain area or region. The purpose of the program is simple – to help provide personal doctor’s advice to patients who don’t have time to come to the traditional office or need assistance outside of working hours. The company can connect anyone with a highly qualified physician directly via phone, computer, or tablet regardless of person’s insurance. All patient information is stored on secure servers that meet HIPAA standards.
It is easy and convenient to make an appointment on the platform. At the very start, the user needs to create an account on the website or in the Doctor On Demand healthcare app itself. A person fills out a profile, sharing their medical history, notes what’s wrong with them at the moment, and why they need to see a doctor. After filling in the profile, users are contacted by a doctor. The meetings usually last 15 minutes, and the doctors will discuss the main problem with the user. The therapy sessions or psychiatrist visits last from 25 to 50 minutes.
Of course, it is impossible to get a comprehensive diagnosis this way, but it’s quite enough to consult on minor ailments, flu, colds, irritations, diathesis, insomnia, heartburn, and so on. Many users are very pleased with the presence of such a “pocket doctor”, although in this case, the specialist can’t prescribe any treatment nor drugs. This healthcare app is perfect for those who do not like to go to the doctor.
The estimated annual income of Doctor On Demand is $135.5 million per year. In April 2018, Doctor On Demand received venture capital financing of $74.0 million.
3. Instagram For Clinical Cases
Let’s move on to more non-trivial examples. Previously, doctors had to personally attend the consultations where curious clinical cases were demonstrated. Needless to say, it was extremely inconvenient and the size of the audience was strictly limited. Now it is in the past, as Figure 1 – Medical Images healthcare app was invented – a godsend for doctors and nurses. It is kind of like Instagram but for doctors (or an endless reservoir of horror and shock content, judging by reviews). Here you can find a visual archive, i.e. a lot of images, which will be useful in the diagnosis of diseases. This is especially important when you are faced with rare diseases. With this healthcare app, it is convenient to exchange information with medical professionals for educational purposes. It is possible to view, comment, and share images with other specialists using the visual database of Figure 1. This solution will help doctors who want to get feedback from colleagues about a rare case in their practice or are looking for similar cases to study. In doing so, the program ensures patient confidentiality by automatically blocking the face and removing identifying information.
“Every morning we wake up to democratize medical knowledge to help save lives,” said Gregory Levy, CEO of Figure 1. “We’re very excited to work with investors who understand why we come to work. We’re just getting started,” he added.
Figure 1 estimated annual revenue is $51.5 million per year. The total funding for the program is 1.3 billion dollars. The amount of shock content contained in this software is incalculable.
4. Multifunctional Healthcare App For Medical Professionals
Clinics and the doctors working inside often need healthcare applications that are rich in functionality and assist in making medical decisions. The gold standard for medical apps in this field is Epocrates. Its popularity is due to many useful features in the app. The application includes a handbook for doctors of different specialties, instructions for medicines, the identifier of pills, and news from the field of medicine, as well as special medical calculators for counting BMI (body mass index), infusion, kidney excretion function, etc. Among other things, the healthcare app contains information about the side effects of drugs. This application is useful not only for physicians, but also for ordinary people. You can see the popularity and reliability of Epocrates by looking at the following figures: more than a million practitioners from around the world use this healthcare app in their work, and every second doctor from the U.S. trusts Epocrates.
Most of the application content is free, but if you want access to additional information (laboratory guidelines, alternative medicines, and disease information) you will need to purchase through the application for $159.99/year or Epocrates Plus for $174.99/year.
In total, Epocrates is estimated to have $15.4 million per year in annual revenue.
5. How About The Blockchain Platform?
You can go further in the search and come up with something fundamentally different. For example, Embleema company has recently launched a blockchain-based network for healthcare. The network is compatible with HIPAA and allows patients to access and share their medical records with researchers and doctors. In addition, the new solution helps patients consolidate their data and even profit from sharing it with various organizations such as drug researchers, marketing agencies, etc. Patients using the platform can receive payment in cryptocurrency in exchange for their medical data. The revolutionary Embleema technology may well be a breakthrough for patients and researchers around the world, shaking up the medical data industry. The company’s profit is $11 million a year.
The healthcare industry is nothing to sniff at, as human lives are at stake, but this doesn’t mean that the process of developing software for this industry must be exhausting and difficult. The main thing here is to understand the specifics of the industry and target audience along with impeccable (once again, the stakes are as high as ever) technical execution. With support of professionals with expertise both from the technical and business side, all the difficulties and inconveniences melt like Australian snow. The main thing is maximum devotion and involvement of all stakeholders in the process.