{"id":25216,"date":"2020-09-23T17:55:54","date_gmt":"2020-09-23T12:25:54","guid":{"rendered":"https:\/\/www.syscreations.ca\/?p=25216"},"modified":"2022-03-31T09:40:40","modified_gmt":"2022-03-31T09:40:40","slug":"telemedicine-startup-cost","status":"publish","type":"post","link":"https:\/\/www.syscreations.ca\/blog\/telemedicine-startup-cost\/","title":{"rendered":"How Much is Telemedicine Startup Cost? [An Interview with Telemedicine App Owner]"},"content":{"rendered":"\n

It was a pleasant morning in September. <\/p>\n\n\n\n

I was in a hurry to catch the morning train between Toronto and London, Ontario. <\/p>\n\n\n\n

Because of my last-minute hustle, I made it on time. <\/p>\n\n\n\n

The train departed at its scheduled time. <\/p>\n\n\n\n

Holding a coffee cup in one hand, I was checking out the telemedicine app design my UI team had emailed me last night. <\/p>\n\n\n\n

Suddenly, I heard a voice so close to my ears. I kept my laptop aside and turned around. <\/p>\n\n\n\n

There was a tall muscular man wearing a blue suit giving me a big smile. <\/p>\n\n\n\n

\u201cGood morning!\u201d, I greeted back, still wondering why someone would just greet me with such a big smile at 6:45 in the morning. <\/p>\n\n\n\n

 \u201cIs this your telemedicine app?\u201d, his smile turned into a grin and he took a seat next to me. <\/p>\n\n\n\n

\u201cNot mine. It is a client\u2019s app.\u201d, I replied, \u201cBut how do you know that this is a telemedicine app?\u201d <\/p>\n\n\n\n

\u201cI own one.\u201d, He said as he took his mobile phone out of his pocket and showed me his telemedicine app on PlayStore. <\/p>\n\n\n\n

I had met and also worked with many telemedicine app owners. But no one had smiled so incredibly while seeing others\u2019 telemedicine apps!<\/p>\n\n\n\n

It fueled my interest to take that conversation to the next level. <\/p>\n\n\n\n

\u201cYour app has a great UI.\u201d, I paused for a while and then added, \u201cWould you like to experience how an interview on the train looks like?\u201d <\/p>\n\n\n\n

\u201cAbsolutely yes!\u201d, he exclaimed, \u201cI strongly believe in knowledge sharing.\u201d<\/p>\n\n\n\n

\u201cI will publish your interview on our company blog. It will be helpful for all entrepreneurs who are wondering about telemedicine startup cost.\u201d, I said as I unlocked my phone and started voice recording.  <\/p>\n\n\n\n

After a formal introduction, I started asking him questions on behalf of all entrepreneurs planning to develop a telemedicine app.  <\/p>\n\n\n\n

Our other very useful and interesting research:<\/u><\/strong><\/p>\n\n\n\n

  1. What is the telehealth marketplace and how does it work?<\/a><\/strong><\/li>
  2. What is the future of the telehealth market?<\/a><\/strong><\/li>
  3. Technology trends in the telehealth industry<\/a><\/strong><\/li>
  4. How to develop a telemedicine app?<\/strong><\/a><\/li>
  5. Telemedicine business ideas<\/a><\/strong><\/li><\/ol>\n\n\n\n

    Is the COVID-19 outbreak the only reason you decide to invest in a telemedicine app?<\/span> <\/strong><\/h2>\n\n\n\n

    Many believe that because of COVID-19, people are switching to telemedicine apps and avoiding hospital visits. <\/p>\n\n\n\n

    It is not the complete truth. <\/p>\n\n\n\n

    If we look into the past – market before COVID-19 – people have already become too comfortable with the on-demand service delivery model. <\/p>\n\n\n\n

    For instance, on-demand food delivery apps have already been very popular. <\/p>\n\n\n\n

    On-demand taxi apps have also been very popular for a long time. <\/p>\n\n\n\n

    So, in my opinion,  COVID-19 is only taking the telemedicine trend to the next level. <\/p>\n\n\n\n

    But the trend had already been built – before COVID-19. <\/p>\n\n\n\n

    And the same success of telemedicine apps will continue for many more years. <\/p>\n\n\n\n

    What was your major concern? Is it a telemedicine startup cost?<\/span><\/strong><\/h2>\n\n\n\n

    To be honest, healthcare compliance was my major concern. <\/p>\n\n\n\n

    The healthcare laws in Canada and the USA are not so easy for all development companies to comprehend and implement in the app. <\/p>\n\n\n\n

    Luckily, one of my friends suggested hiring a healthcare compliance consulting firm. <\/p>\n\n\n\n

    The healthcare compliance consultant helped my hired app development company a lot to meet all HIPAA, PHIPA and PIPEDA requirements. <\/p>\n\n\n\n

    But that overshot my budget. <\/p>\n\n\n\n

    Thus, I would suggest all to hire an app development company which has expertise in Canadian and USA healthcare laws. This will save a lot of money! <\/p>\n\n\n\n

    Custom app vs MVP vs white-label app? What would you suggest? <\/span><\/strong><\/h2>\n\n\n\n

    First of all, there are major differences between these three in terms of cost, app delivery time and feature set. <\/p>\n\n\n\n

    For instance, the custom app costs you more than $80000 and it takes 90+ days for delivery. But it supports custom clinical workflows. <\/p>\n\n\n\n

    MVP costs you less than $20000 and 50 days, but it has limited features. <\/p>\n\n\n\n

    Whereas, the white-label telemedicine app<\/u><\/span><\/a> costs you around $20000. <\/p>\n\n\n\n

    So, I would suggest a white-label app. <\/p>\n\n\n\n

    It costs less. It accommodates all features. And a development company can deliver it within a week. <\/p>\n\n\n\n

    I must confess that I selected a custom app and I still regret the decision! <\/p>\n\n\n\n

    How do you make money with your telemedicine app? <\/span><\/strong><\/h2>\n\n\n\n

    The possibilities are endless. <\/p>\n\n\n\n

    I charge differently for the weekday doctor visits and weekend doctor visits. <\/p>\n\n\n\n

    I also charge differently for day doctor visits and night doctor visits. <\/p>\n\n\n\n

    I tie up with employers to provide telemedicine services to their employees. <\/p>\n\n\n\n

    I also tie up with healthcare providers such as hospitals, clinics to use my telemedicine platform for their healthcare practice. <\/p>\n\n\n\n

    How much is telemedicine startup cost?<\/span><\/strong><\/h1>\n\n\n\n

    In my case, the capital cost I required to start a telemedicine startup was around $50000 because of the blunders I made. <\/p>\n\n\n\n

    But it can be just around $40000 if you plan well and select a white-label app. <\/p>\n\n\n\n

    The white-label telemedicine app contributes most with just $20000. <\/p>\n\n\n\n

    You also need to run a few marketing campaigns. <\/p>\n\n\n\n

    To provide a telemedicine service, you need doctors. So, doctor onboarding is also a major cost. <\/p>\n\n\n\n

    You also need to pay monthly fees for video and voice calls to video\/voice call API providers such as Twilio. <\/p>\n\n\n\n

    You also need to hire a team of customer service executives to address user queries. <\/p>\n\n\n\n

    So, the average telemedicine startup cost is around $40000. <\/p>\n\n\n\n

    You Should Also Read:<\/strong> Business Model of Telehealth App<\/u><\/span><\/a> <\/a><\/span><\/p>\n\n\n\n

    Can you sum up how to start a telemedicine startup in just 5 steps?<\/strong> <\/h2>\n\n\n\n

    Step 1: Identify your future competitors. <\/p>\n\n\n\n

    Step 2: Analyze their business models, user groups, app, marketing channels. <\/p>\n\n\n\n

    Step 3: Come up with a better business plan to outperform your competitors. <\/p>\n\n\n\n

    Step 4: Develop an app. <\/p>\n\n\n\n

    Step 5: Make sure step 4 is followed by step 1,2,3. (Most important!)<\/p>\n\n\n\n

    Meanwhile, the train reached Aldershot station and he got off the train. <\/p>\n\n\n\n

    I later typed a message for him. We had already exchanged phone numbers. <\/p>\n\n\n\n

    I typed and sent, <\/p>\n\n\n\n

    \u201cA white-label telemedicine app can be HIPAA\/PHIPA\/PIPEDA compliant. <\/p>\n\n\n\n

    It can support custom clinical workflows. <\/p>\n\n\n\n

    You don\u2019t have to pay monthly fees for voice\/video calls. <\/p>\n\n\n\n

    Still not believing? Explore our white-label telemedicine app<\/a><\/u><\/span> or read our case study<\/a>.\u00a0<\/p>\n\n\n\n

    \"\"<\/figure><\/div>\n","protected":false},"excerpt":{"rendered":"

    It was a pleasant morning in September.  I was in a hurry to catch the morning train between Toronto and London, Ontario.  Because of my last-minute hustle, I made it on time.  The train departed at its scheduled time.  Holding a coffee cup in one hand, I was checking out the telemedicine app design my […]<\/p>\n","protected":false},"author":1,"featured_media":25220,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[12],"tags":[],"yoast_head":"\nTelemedicine Startup Cost: How to Start it Under $40000?<\/title>\n<meta name=\"description\" content=\"Telemedicine app owner sharing telemedicine startup cost, revenue streams and how to start a telemedicine startup In Canada and the USA.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.syscreations.ca\/blog\/telemedicine-startup-cost\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"App Owner Sharing Telemedicine Startup Cost\" \/>\n<meta property=\"og:description\" content=\"And how to further reduce it?\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.syscreations.ca\/blog\/telemedicine-startup-cost\/\" \/>\n<meta property=\"og:site_name\" content=\"SyS Creations - 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