How Much Telemedicine Platform Cost in 2022? Calculate the Cost
1 year ago
Don’t take this blog as yet another blog found on Google.
And there are real reasons for that!
First, no one is going to tell you the exact telemedicine platform cost. But we are!
And second, we are Canadian telemedicine tech and compliance experts. Meaning, we are qualified!
So, let’s get started.
Our other very useful and interesting research:
- What is the telehealth marketplace and how does it work?
- What is the future of the telehealth market?
- Technology trends in the telehealth industry
- How to develop a telemedicine app?
- Telemedicine business ideas
- Cost to develop your own medical billing software
The only major factor that defines the telemedicine software cost
Yes, there is only one factor that determines whether you are going to pay $300, $30000 or $90000 for the telemedicine platform.
And that factor is the type of telemedicine platform you want to acquire.
There are mainly 4 types of telemedicine platforms. And each costs you different.
The following are those 4 types.
- 3rd Party SaaS Telemedicine Software
Many telemedicine vendors provide you with telemedicine software on SaaS (software as a service) pricing model.
Here, they let you use their platform for virtual care. And in return, you have to pay them the monthly fee.
This is the same as the Netflix subscription.
- Your Own Custom Telemedicine Platform
You hire a tech company and it develops the telemedicine platform from scratch uniquely for you only.
Your hired tech company addresses all of your requirements and custom clinical workflows.
- Cloned Telemedicine Platform
Unlike a custom platform, the cloned platform has UI and features inspired by already existing or performing telemedicine platforms such as Maple, Amwell.
- White-Label Telemedicine Platform
A white-label telemedicine platform is a ready-to-use platform.
The company which has already built the platform delivers it to you with your own branding and some changes in UI and features as per your requirements.
Yes, it is similar to 3rd party software. But the major difference is the ownership. Unlike the SaaS platform, you enjoy full ownership of the white-label platform.
Now, it is time for the magical moment when we reveal the cost of acquiring each of these types of telemedicine platforms.
Revealing the cost of telemedicine platform (99.99% accuracy with the market price)
Let’s start with the cost of a 3rd party telemedicine platform.
1. Cost of 3rd party SaaS telemedicine platform
They charge on the monthly basis and on the basis of the number of practitioners.
For instance, they charge around $40 to $60 per practitioner per month and around $200 per month for 10 practitioners.
They are smart. They provide several pricing plans. An affordable pricing plan offers restricted access to the features of the telemedicine platform.
To get full access to the telemedicine platform, you must choose their most premium plan.
Many vendors are even smarter. In addition to paying a fixed monthly fee for using their platform, they charge extra for the SMS alert and video streaming.
This is what we have found on the website of one of the top telemedicine vendors.
The biggest disadvantage:
You are not its owner. And thus, you cannot customize it and use it the way you want for your own practice.
Most importantly, it fails to address your clinical workflows as it is not developed for you and your clinical workflows only. It is developed for all!
2. Cost of your own custom telemedicine app
To build the custom app, you need to hire a tech company. And North American tech companies charge somewhere between $50 to $120 per hour.
This way, if it requires 1000 hours to build the telemedicine platform and the tech company you hire charges $70 per hour, the cost would be $70000.
This is the formula to calculate the cost of custom telemedicine software:
Cost = (Development hours) * (Hourly development charges)
Yes, you can hire an Asia-based tech company that charges only around $20 per hour.
But these companies lack specific knowledge of the Canadian healthcare system, market, user needs and compliance requirements.
You have to maintain the telemedicine software you have built and are using for medical practice.
You also need to pay usage-based fees for several APIs such as video calling API, payment API.
The biggest advantage:
You are the only owner of the telemedicine platform. You can customize it according to your clinical needs.
You can even integrate online pharmacy, healthcare eCommerce and wellness store with it for multiple revenue streams.
You have ultimate control and freedom!
Check out this case study to know more about custom telemedicine software development.
3. Cost of cloned telemedicine platform
Same as the custom app, you need to hire a tech company for developing a cloned telemedicine platform.
But as compared to a custom platform, a cloned platform requires fewer hours in designing UI and defining logic for features as UI and features are almost the same as other platforms.
With fewer hours required, the cost to develop a cloned platform decreases.
In most cases, it costs around $45000 to $60000 in North America.
Here also, you have to maintain the telemedicine platform and also pay usage-based fees for the APIs.
The major disadvantage:
Your cloned platform would look and work similarly to the already existing platforms.
And this sometimes restricts the scope for establishing a strong market position.
4. Cost of white-label telemedicine platform
It is difficult to estimate the cost of white-label telemedicine software as companies providing such a platform charge differently.
We also provide a white-label telemedicine solution that starts from $30000.
In the case of a white-label telehealth platform too, you are liable for the video calling and payment API fees.
But when it comes to our white-label solution, you don’t have to pay any fee for the video calling API as we have tied up with video calling API providers.
The biggest advantage:
You invest less.
You get your own telemedicine platform with your own branding.
You get implementation and post-implementation support.
You can customize it the way you want.
You can upgrade it whenever you want.
Check out our white-label telemedicine solution
- It is compliant with HIPAA, PIPEDA, PHIPA, PIA and other privacy laws.
- It is a mobile and web-based solution.
- It includes a mobile and web app for doctors and a mobile and web app for patients.
- We integrate it with your choice of EMR/EHR.
- It supports OHIP, MSP, AHCIP billing codes.
These are some of its real screenshots.