{"id":26928,"date":"2021-04-05T12:21:28","date_gmt":"2021-04-05T12:21:28","guid":{"rendered":"https:\/\/www.syscreations.ca\/blog\/?p=26928"},"modified":"2021-04-07T10:52:19","modified_gmt":"2021-04-07T10:52:19","slug":"telehealth-business-opportunities","status":"publish","type":"post","link":"https:\/\/www.syscreations.ca\/blog\/telehealth-business-opportunities\/","title":{"rendered":"Where is the Biggest Opportunity in Telehealth?"},"content":{"rendered":"\n<p><span style=\"color:#7b68ee\" class=\"has-inline-color\">Telehealth is emerging as the most useful and life-saving healthcare technology during the pandemic.&nbsp;<\/span><\/p>\n\n\n\n<p>But at the same time, it is emerging as a commercially successful business model as well.&nbsp;<\/p>\n\n\n\n<p><span style=\"color:#7b68ee\" class=\"has-inline-color\">Due to affordability, ease and rapid care it provides, more patients are preferring televisits over in-person visits with physicians.<\/span>&nbsp;<\/p>\n\n\n\n<p>And here lies the telehealth business opportunities.&nbsp;<\/p>\n\n\n\n<h2><strong>Why is Canada a telehealth business capital?&nbsp;<\/strong><\/h2>\n\n\n\n<p><span style=\"color:#7b68ee\" class=\"has-inline-color\">The biggest telehealth business opportunity depends on the country\u2019s healthcare system, compliance requirements and market competition.&nbsp;<\/span><\/p>\n\n\n\n<p>So, with regards to these factors &#8211; let\u2019s discuss why Canada is the best market for telehealth.&nbsp;<\/p>\n\n\n\n<ul><li><strong><span style=\"color:#dd0055\" class=\"has-inline-color\"><u>Canada\u2019s Healthcare System<\/u><\/span><\/strong><\/li><\/ul>\n\n\n\n<p>In Canada, there is a universal healthcare system that ensures free care delivery to all patients.<\/p>\n\n\n\n<p><span style=\"color:#7b68ee\" class=\"has-inline-color\">However, the universal healthcare system run by the government comes with the major consequence which is long wait time or delayed care.&nbsp;<\/span>&nbsp;<\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter\"><img src=\"https:\/\/lh5.googleusercontent.com\/FfiCGuryHpotXZ7dJzn1I6Deg2VRPuN9hZ5erIWLVftmplaTZtiSh2UvSJpQ9Y0ZJouFDNE4yqrRHN1VtNVaYe7m3wbKUcgCuDM5uv6DWpgS5Ptkq09KT5tupIY-dLSjxhlLdW_M\" alt=\"\"\/><\/figure><\/div>\n\n\n\n<p><span style=\"color:#7b68ee\" class=\"has-inline-color\">Thus, people with a good financial background opts-in more for private healthcare providers to get instant care without waiting.&nbsp;<\/span><\/p>\n\n\n\n<p>And with telehealth solutions, healthcare providers &#8211; both private and public &#8211; can offer more rapid care to Canadians.&nbsp;<\/p>\n\n\n\n<p><strong>Don\u2019t miss to read this:<\/strong> <strong><a href=\"https:\/\/www.syscreations.ca\/blog\/canada-healthcare-system\/\" target=\"_blank\" rel=\"noreferrer noopener\"><span style=\"color:#7b68ee\" class=\"has-inline-color\"><u>How the healthcare system works in Canada?<\/u><\/span><\/a>\u00a0<\/strong><\/p>\n\n\n\n<ul><li><strong><span style=\"color:#dd0055\" class=\"has-inline-color\"><u>Compliance Requirements<\/u>&nbsp;<\/span><\/strong><\/li><\/ul>\n\n\n\n<p>Healthcare in Canada is a highly regulated industry.&nbsp;<\/p>\n\n\n\n<p><span style=\"color:#7b68ee\" class=\"has-inline-color\">A federal-level data privacy law &#8211; PIPEDA &#8211; and several provincial-level data privacy laws apply to a telehealth platform.&nbsp;<\/span><\/p>\n\n\n\n<p>The only goal of these laws is to protect the privacy of patients\u2019 data stored by telehealth apps.&nbsp;<\/p>\n\n\n\n<p><span style=\"color:#7b68ee\" class=\"has-inline-color\">Each law has many technical, operational and business requirements which should be fulfilled to be compliant with that privacy law.&nbsp;<\/span><\/p>\n\n\n\n<p>These requirements are surely complicated.&nbsp;<\/p>\n\n\n\n<p>But a telehealth startup can always<span style=\"color:#7b68ee\" class=\"has-inline-color\"> <\/span><a href=\"https:\/\/www.syscreations.ca\/healthcare-compliance-consulting\/\" target=\"_blank\" rel=\"noreferrer noopener\"><span style=\"color:#7b68ee\" class=\"has-inline-color\"><u><strong>hire a compliance consultant<\/strong><\/u><\/span><\/a> to fulfill all of the applicable laws\u2019 requirements.\u00a0<\/p>\n\n\n\n<ul><li><strong><span style=\"color:#dd0055\" class=\"has-inline-color\"><u>Market Competition<\/u><\/span><\/strong><\/li><\/ul>\n\n\n\n<p>Needless to say that the chances of getting success with any new product decrease dramatically if the market has already been explored by many players.&nbsp;<\/p>\n\n\n\n<p>In Canada, there are a few players dominating the telehealth industry.&nbsp;<\/p>\n\n\n\n<p><span style=\"color:#7b68ee\" class=\"has-inline-color\">But there is yet a large room remaining untouched from where a new telehealth startup can easily find the consumers and thrive its telehealth business.&nbsp;<\/span><\/p>\n\n\n\n<p>Additionally, with well-defined business models, strategies and unique &amp; useful features than competitors, the new telehealth startup can easily outperform others.&nbsp;<\/p>\n\n\n\n<ul><li><strong><span style=\"color:#dd0055\" class=\"has-inline-color\"><u>Government\u2019s Support for Telehealth<\/u><\/span>&nbsp;<\/strong><\/li><\/ul>\n\n\n\n<p>The success of any business in any country highly depends on the governments\u2019 interest and policy for that specific business.&nbsp;<\/p>\n\n\n\n<p><span style=\"color:#7b68ee\" class=\"has-inline-color\">The Canadian government seems very fascinated by telehealth.<\/span>&nbsp;<\/p>\n\n\n\n<p><span style=\"color:#7b68ee\" class=\"has-inline-color\">In the major 3 provinces &#8211; Alberta, Ontario and B.C., the health card covers the televisits through the telehealth platform.&nbsp;<\/span><\/p>\n\n\n\n<p>Not only this but in Ontario, the government runs its own telehealth program and during the first wave of coronavirus, the government has invested millions in virtual care.&nbsp;<\/p>\n\n\n\n<ul><li><strong><span style=\"color:#dd0055\" class=\"has-inline-color\"><u>Geographical Challenges to See Doctors<\/u>&nbsp;<\/span><\/strong><\/li><\/ul>\n\n\n\n<p>Canada has the world&#8217;s one of the most difficult terrains and has a very large geographical area.&nbsp;<\/p>\n\n\n\n<p><span style=\"color:#7b68ee\" class=\"has-inline-color\">In many provinces and territories such as Nunavut, Northwest Territories, Manitoba, people are living in small communities hundreds of kilometres away from hubs.&nbsp;<\/span><\/p>\n\n\n\n<p><span style=\"color:#7b68ee\" class=\"has-inline-color\">To get access to healthcare services, they need to either travel by unpaved roads or via some regional airlines.&nbsp;<\/span><\/p>\n\n\n\n<p>Here, only virtual care solutions assure timely access to care with no requirements of leaving home for seeking healthcare services.&nbsp;<\/p>\n\n\n\n<p><span style=\"color:#7b68ee\" class=\"has-inline-color\">People living in remote areas can talk to specialists sitting in Toronto or Montreal and get e-prescription within minutes.&nbsp;<\/span><\/p>\n\n\n\n<p>Because of all these positive signs we are witnessing in the Canadian market, Canada has the biggest opportunity in telehealth.&nbsp;<\/p>\n\n\n\n<h1><strong>Telehealth Business Opportunities in Canada&nbsp; (Suggested By Our Business Experts)<\/strong>&nbsp; &nbsp; &nbsp;<\/h1>\n\n\n\n<p><span style=\"color:#7b68ee\" class=\"has-inline-color\">Being the telehealth tech experts, we are more interested in innovative telehealth business ideas rather than the typical video-call-based telehealth app.&nbsp;<\/span><\/p>\n\n\n\n<ul><li><strong><span style=\"color:#dd0055\" class=\"has-inline-color\"><u>Telehealth Integrated with Pharmacy<\/u>&nbsp;<\/span>&nbsp;&nbsp;<\/strong><\/li><\/ul>\n\n\n\n<p>At the end of 80% of televisits, the physician writes the e-prescription and the patients need to get it from either an online pharmacy or physical pharmacy store.&nbsp;<\/p>\n\n\n\n<p>Either way, patients face inconvenience as the first option requires a new user journey on the new app and the second option requires a visit to a pharmacy store.&nbsp;<\/p>\n\n\n\n<p><span style=\"color:#7b68ee\" class=\"has-inline-color\">If a telehealth app supports an online pharmacy, the patients get the medical consultation, prescription and medical drugs from the same platform.&nbsp;<\/span><\/p>\n\n\n\n<p>This not only enhances user experience but creates one new revenue stream.&nbsp;<\/p>\n\n\n\n<p><span style=\"color:#7b68ee\" class=\"has-inline-color\">The idea of telehealth integrated with pharmacy stores is so profitable that even online pharmacies are adding telemedicine features into their app<\/span>.&nbsp;<\/p>\n\n\n\n<p><a href=\"https:\/\/www.syscreations.ca\/blog\/online-pharmacy\/\" target=\"_blank\" rel=\"noreferrer noopener\"><span style=\"color:#7b68ee\" class=\"has-inline-color\"><u><strong>PocketPills<\/strong><\/u><\/span><\/a> is the best example here.\u00a0<\/p>\n\n\n\n<ul><li><strong><span style=\"color:#dd0055\" class=\"has-inline-color\"><u>Telehealth + Healthcare eCommerce<\/u>&nbsp;<\/span><\/strong><\/li><\/ul>\n\n\n\n<p>Many times, the physician suggests over-the-counter medicines which do not require any prescription.&nbsp;<\/p>\n\n\n\n<p>Moreover, they sometimes suggest wellness products and medical devices for home healthcare.&nbsp;<\/p>\n\n\n\n<p><span style=\"color:#7b68ee\" class=\"has-inline-color\">So, by integrating healthcare eCommerce solutions with telehealth platforms, telehealth startups can enable patients to get medical consultations and healthcare products from the same platform and very easily.&nbsp;<\/span><\/p>\n\n\n\n<p>With a healthcare eCommerce platform, the startup can sell <span style=\"color:#7b68ee\" class=\"has-inline-color\">personal care products, medical devices, workout food, supplements, perfumes, skincare products, oral care products etc<\/span>.&nbsp;<\/p>\n\n\n\n<p>USA-based two unicorn telehealth startups <a href=\"https:\/\/www.syscreations.ca\/blog\/start-healthcare-startup-like-ro\/\" target=\"_blank\" rel=\"noreferrer noopener\"><span style=\"color:#7b68ee\" class=\"has-inline-color\"><u><strong>Ro<\/strong><\/u><\/span><\/a> and <a href=\"https:\/\/www.syscreations.ca\/blog\/hims-and-hers-health\/\" target=\"_blank\" rel=\"noreferrer noopener\"><span style=\"color:#7b68ee\" class=\"has-inline-color\"><u><strong>Hims &amp; Hers<\/strong><\/u><\/span><\/a> follow the same strategy &#8211; selling wellness products from its telehealth platform.\u00a0<\/p>\n\n\n\n<ul><li><strong><span style=\"color:#dd0055\" class=\"has-inline-color\"><u>Telehealth for Dedicated Medical Specialty<\/u><\/span>&nbsp;<\/strong><\/li><\/ul>\n\n\n\n<p>With patients selecting televisits over in-person medical meetings, the different medical specialties are switching to a virtual care delivery approach.&nbsp;<\/p>\n\n\n\n<p><span style=\"color:#7b68ee\" class=\"has-inline-color\">However, there are very few specific telemedicine solutions for individual medical specialties.<\/span><\/p>\n\n\n\n<p>And thus, healthcare providers don\u2019t have any choice rather than using general-purpose telemedicine solutions.&nbsp;<\/p>\n\n\n\n<p><span style=\"color:#7b68ee\" class=\"has-inline-color\">But these general-purpose telehealth solutions are developed by following the one-size-fits-all approach.&nbsp;<\/span><\/p>\n\n\n\n<p>It does not satisfy the unique needs and clinical workflows of specific medical specialties.&nbsp;<\/p>\n\n\n\n<p><span style=\"color:#7b68ee\" class=\"has-inline-color\">As a result, the healthcare professionals cannot use it to its full potential and cannot provide quality care with great patient outcomes.<\/span>&nbsp;<\/p>\n\n\n\n<p>You can consider developing a dedicated telehealth platform for the following medical specialties.&nbsp;&nbsp;<\/p>\n\n\n\n<ul><li><strong><a href=\"https:\/\/www.syscreations.ca\/blog\/telemedicine-for-dermatologists-skincare\/\" target=\"_blank\" rel=\"noreferrer noopener\"><span style=\"color:#7b68ee\" class=\"has-inline-color\"><u>Telehealth for dermatologists<\/u><\/span><\/a><\/strong><\/li><li><strong><a href=\"https:\/\/www.syscreations.ca\/blog\/telemedicine-for-vets\/\" target=\"_blank\" rel=\"noreferrer noopener\"><span style=\"color:#7b68ee\" class=\"has-inline-color\"><u>Telehealth for vets<\/u><\/span><\/a><\/strong><\/li><li><strong><a href=\"https:\/\/www.syscreations.ca\/blog\/telemedicine-for-dietitians\/\" target=\"_blank\" rel=\"noreferrer noopener\"><span style=\"color:#7b68ee\" class=\"has-inline-color\"><u>Telehealth for dietitians<\/u><\/span><\/a><\/strong><\/li><li><strong><a href=\"https:\/\/www.syscreations.ca\/blog\/telemedicine-for-psychiatrists\/\" target=\"_blank\" rel=\"noreferrer noopener\"><span style=\"color:#7b68ee\" class=\"has-inline-color\"><u>Telehealth for psychiatrists<\/u><\/span><\/a><\/strong><\/li><li><strong><a href=\"https:\/\/www.syscreations.ca\/blog\/telemedicine-for-physiotherapists\/\" target=\"_blank\" rel=\"noreferrer noopener\"><span style=\"color:#7b68ee\" class=\"has-inline-color\"><u>Telehealth for physiotherapists<\/u><\/span><\/a><\/strong><\/li><li><strong><a href=\"https:\/\/www.syscreations.ca\/blog\/telemedicine-for-pediatricians\/\" target=\"_blank\" rel=\"noreferrer noopener\"><span style=\"color:#7b68ee\" class=\"has-inline-color\"><u>Telehealth for pediatricians<\/u><\/span><\/a><\/strong><\/li><\/ul>\n\n\n\n<h2><strong>We can help you with telehealth tech and compliance to claim high ROI&nbsp;<\/strong><\/h2>\n\n\n\n<p>We\u2019re Ontario-based telehealth tech and compliance experts.&nbsp;<\/p>\n\n\n\n<p><span style=\"color:#7b68ee\" class=\"has-inline-color\">We accommodate app developers, app designers, business experts and compliance consultants who all work together to fulfil all your business and financial goals.&nbsp;<\/span><\/p>\n\n\n\n<p>With our in-house compliance consultants, we ensure to deliver only compliant telehealth mobile apps.&nbsp;<\/p>\n\n\n\n<p><span style=\"color:#7b68ee\" class=\"has-inline-color\">We develop clone, custom and offer white-label telehealth solutions with EHR\/EMR integration of your choice.&nbsp;<\/span><\/p>\n\n\n\n<p>We have been practicing in the Canadian healthcare industry for more than 7 years and have earned ultimate authority and mastership.&nbsp;<\/p>\n\n\n\n<p>On the concluding note, we would like to share our brilliant <a href=\"https:\/\/www.syscreations.ca\/telemedicine-startup-ontario\" target=\"_blank\" rel=\"noreferrer noopener\"><span style=\"color:#7b68ee\" class=\"has-inline-color\"><u><strong>case study on telemedicine app development.<\/strong><\/u><\/span><\/a><\/p>\n\n\n\n<p><span style=\"color:#dd0055\" class=\"has-inline-color\">We would also like to share the screens of a telemedicine app we developed recently.&nbsp;<\/span><\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter is-resized\"><img loading=\"lazy\" src=\"https:\/\/lh5.googleusercontent.com\/5yIyXKmY4ni3U11xML3A7n_a6HF68ZgrLkd8bOh7ndQToXMfrPX9NPg9Vdt1NxM4Bk4mygq-sEPv7l8ei3Dd7JtL5sGp9WFDbqpV4bekowRk5hXxCb6up9OyyfsjQUsiTzHrMnAh\" alt=\"\" width=\"239\" height=\"518\"\/><\/figure><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Telehealth is emerging as the most useful and life-saving healthcare technology during the pandemic.&nbsp; But at the same time, it is emerging as a commercially successful business model as well.&nbsp; Due to affordability, ease and rapid care it provides, more patients are preferring televisits over in-person visits with physicians.&nbsp; And here lies the telehealth business [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":26935,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[12],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v16.1.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Where is the Biggest Opportunity in Telehealth?<\/title>\n<meta name=\"description\" content=\"Know where is the biggest opportunity in telehealth and top telehealth business opportunities in Canada &amp; the USA to start your own telehealth startup.\" \/>\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\/telehealth-business-opportunities\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Telehealth Business Capital = Canada\" \/>\n<meta property=\"og:description\" content=\"Why is Canada the best market to start a telehealth business?\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.syscreations.ca\/blog\/telehealth-business-opportunities\/\" \/>\n<meta property=\"og:site_name\" content=\"SyS Creations - IT Management, Compliance &amp; 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