{"id":26978,"date":"2024-01-12T22:55:00","date_gmt":"2024-01-12T22:55:00","guid":{"rendered":"https:\/\/www.syscreations.ca\/blog\/?p=26978"},"modified":"2024-01-14T21:50:23","modified_gmt":"2024-01-14T21:50:23","slug":"telehealth-marketplace","status":"publish","type":"post","link":"https:\/\/www.syscreations.ca\/blog\/telehealth-marketplace\/","title":{"rendered":"What is Telehealth Marketplace &#038; Aggregator? How To Build Your Own Telehealth Aggregator Solution in 2024?"},"content":{"rendered":"\n<p><strong>\u201cHello SyS team, I would like to start a telemedicine startup. But not the typical telemedicine platform. I want something fresh and unique. Guide me.\u201d&nbsp;<\/strong><\/p>\n\n\n\n<p>This is the message we received a few days back from Jack while we were already working on 3 telemedicine projects.&nbsp;<\/p>\n\n\n\n<p>I quickly scheduled a virtual meeting with Jack to guide him on a very fresh and unique telemedicine app idea which is a telehealth marketplace.&nbsp;<\/p>\n\n\n\n<p>The following is my conversation with Jack.&nbsp;<\/p>\n\n\n\n<p><strong>Our other very useful resources you should not miss out:<\/strong><\/p>\n\n\n\n<ul><li><strong><a href=\"https:\/\/www.syscreations.ca\/blog\/mvp-healthcare-app-development\/\" target=\"_blank\" rel=\"noreferrer noopener\">How to develop a healthcare MVP app?<\/a><\/strong><\/li><li><strong><a href=\"https:\/\/www.syscreations.ca\/blog\/virtual-psychiatry-clinic\/\" target=\"_blank\" rel=\"noreferrer noopener\">How to start a virtual psychiatry clinic in Canada?<\/a><\/strong><\/li><li><strong><a href=\"https:\/\/www.syscreations.ca\/blog\/telemedicine-platform-cost\/\" target=\"_blank\" rel=\"noreferrer noopener\">How much does the telemedicine platform cost?<\/a><\/strong><\/li><li><strong><a href=\"https:\/\/www.syscreations.ca\/blog\/vaccine-booking-portal\/\" target=\"_blank\" rel=\"noreferrer noopener\">How to build a vaccine booking portal?<\/a><\/strong><\/li><\/ul>\n\n\n\n<p><strong><span style=\"color:#dd0055\" class=\"has-inline-color\">Jack:&nbsp;<\/span><\/strong><\/p>\n\n\n\n<p><strong><span style=\"color:#7b68ee\" class=\"has-inline-color\">Everyone is busy launching telemedicine startups. I want something different but related to telemedicine. Do you have any business or app ideas?<\/span>&nbsp;<\/strong><\/p>\n\n\n\n<p><strong><span style=\"color:#dd0055\" class=\"has-inline-color\">Me:&nbsp;<\/span><\/strong><\/p>\n\n\n\n<p>Yes. I do have and trust me, this is very rare, and only 1 or 2 startups have implemented it yet.&nbsp;<\/p>\n\n\n\n<p>The idea is a telemedicine marketplace or aggregator.&nbsp;<\/p>\n\n\n\n<p>Since it has not been explored aggressively by the healthcare startup community yet, you will have a great business opportunity.&nbsp;<\/p>\n\n\n\n<p><strong><span style=\"color:#dd0055\" class=\"has-inline-color\">Jack:&nbsp;<\/span><\/strong><\/p>\n\n\n\n<p><strong><span style=\"color:#7b68ee\" class=\"has-inline-color\">What is a telehealth marketplace? <\/span> <\/strong><\/p>\n\n\n\n<p><strong><span style=\"color:#dd0055\" class=\"has-inline-color\">Me:&nbsp;<\/span><\/strong><\/p>\n\n\n\n<p>Let me give you an example.&nbsp;<\/p>\n\n\n\n<p>There is an app that lets users explore nearby food delivery options and compare the prices and food menus of the same restaurant on different food delivery apps.\u00a0<\/p>\n\n\n\n<p>The telemedicine marketplace works on a similar concept.&nbsp;<\/p>\n\n\n\n<p>It lets patients explore all telemedicine services available in the specific region and allows them to compare the prices and reviews.&nbsp;<\/p>\n\n\n\n<p>Since users can also find and compare the individual physicians listed on the marketplace, it is sometimes called a physician marketplace app.&nbsp;<\/p>\n\n\n\n<p>Later, after comparing the telemedicine providers, the users can select any one telemedicine provider and book teleconsultation.&nbsp;<\/p>\n\n\n\n<p><strong><span style=\"color:#dd0055\" class=\"has-inline-color\">Jack:<\/span> <\/strong><\/p>\n\n\n\n<p><strong><span style=\"color:#7b68ee\" class=\"has-inline-color\">Is there any difference between a telehealth aggregator and a marketplace?<\/span><\/strong><\/p>\n\n\n\n<p><strong><span style=\"color:#dd0055\" class=\"has-inline-color\">Me:<\/span>&nbsp;<\/strong><\/p>\n\n\n\n<p>Well Jack, yes, there is a difference between a telehealth aggregator and a marketplace. <\/p>\n\n\n\n<p>Under the marketplace model, individual doctors and clinics list their virtual care services with their brand name. <\/p>\n\n\n\n<p>The best example of a marketplace model is Amazon which lets sellers sell their products through Amazon but with their existing brand names. <\/p>\n\n\n\n<p>Where in the aggregator model, doctors and clinics have to provide virtual care under the brand name of that aggregator or a single brand name. <\/p>\n\n\n\n<p>The best example of an aggregator model is Uber. <\/p>\n\n\n\n<p><strong><span style=\"color:#dd0055\" class=\"has-inline-color\">Jack:&nbsp;<\/span><\/strong><\/p>\n\n\n\n<p><strong><span style=\"color:#7b68ee\" class=\"has-inline-color\">This is a great idea. But why would someone use such a platform or service?&nbsp;<\/span><\/strong><\/p>\n\n\n\n<p><strong><span style=\"color:#dd0055\" class=\"has-inline-color\">Me:&nbsp;<\/span><\/strong><\/p>\n\n\n\n<p>People will surely use the telehealth marketplace and aggregator platform as there are multiple telemedicine startups out there, and people face challenges in selecting the most suitable and affordable one.&nbsp;<\/p>\n\n\n\n<p>Multiple choices always put people in a dilemma.&nbsp;<\/p>\n\n\n\n<p>The food delivery marketplace idea is working with great success because of the same reason.&nbsp;<\/p>\n\n\n\n<p>People always love to compare two service providers to not regret their choice and to select the most suitable one.&nbsp;<\/p>\n\n\n\n<p>Unfortunately, there is no such platform available for people where they can compare the two telemedicine providers or telemedicine apps.\u00a0<\/p>\n\n\n\n<p>So, Jack, you have to leverage this opportunity.&nbsp;<\/p>\n\n\n\n<p>You will be actually solving the major challenge of the people without investing your money to provide any kind of telemedicine service from your platform.&nbsp;<\/p>\n\n\n\n<p>You will be just capitalizing on others\u2019 telemedicine platforms!&nbsp;<\/p>\n\n\n\n<p>There isn\u2019t any better idea than this!&nbsp;<\/p>\n\n\n\n<p><span style=\"color:#dd0055\" class=\"has-inline-color\"><strong>Jack<\/strong>:&nbsp;<\/span><\/p>\n\n\n\n<p><strong><span style=\"color:#7b68ee\" class=\"has-inline-color\">Agreed! But why would telemedicine providers let me add their services and offerings to my platform?&nbsp;<\/span><\/strong><\/p>\n\n\n\n<p><strong><span style=\"color:#dd0055\" class=\"has-inline-color\">Me:&nbsp;<\/span><\/strong><\/p>\n\n\n\n<p>Why not? You are ultimately promoting their telemedicine service through your platform.&nbsp;<\/p>\n\n\n\n<p>You are helping them to get new users through your business presence.&nbsp;&nbsp;<\/p>\n\n\n\n<p>Even if they get just 100 users from your platform in a month, they are in a profitable state.&nbsp;<\/p>\n\n\n\n<p>After all,&nbsp; they are not spending anything to showcase their services on your platform.&nbsp;<\/p>\n\n\n\n<p>You will just need to tie up with them.&nbsp;<\/p>\n\n\n\n<p>If you want, we can also help you by fixing your meetings with telehealth providers we know.&nbsp;<\/p>\n\n\n\n<p>Once the telemedicine providers agree to list their services on your marketplace, our developers and technical experts will handle the rest of the things.&nbsp;<\/p>\n\n\n\n<p><strong><span style=\"color:#dd0055\" class=\"has-inline-color\">Jack:&nbsp;<\/span><\/strong><\/p>\n\n\n\n<p><strong><span style=\"color:#7b68ee\" class=\"has-inline-color\">This seems perfect and easy. But how would I make money?&nbsp;<\/span><\/strong><\/p>\n\n\n\n<p><strong><span style=\"color:#dd0055\" class=\"has-inline-color\">Me:&nbsp;<\/span><\/strong><\/p>\n\n\n\n<p>Very simple.&nbsp;<\/p>\n\n\n\n<p>When a user books the televisit on a telemedicine platform from your telehealth marketplace, you will be taking a fixed percentage of commission.&nbsp;<\/p>\n\n\n\n<p>This is the most ideal business model ensuring a win-win situation for you as well as the telehealth providers listed on your marketplace.&nbsp;<\/p>\n\n\n\n<p><span style=\"color:#dd0055\" class=\"has-inline-color\"><strong>Jack:<\/strong>&nbsp;<\/span><\/p>\n\n\n\n<p><strong><span style=\"color:#7b68ee\" class=\"has-inline-color\">How much should I invest in?&nbsp;<\/span><\/strong><\/p>\n\n\n\n<p><strong><span style=\"color:#dd0055\" class=\"has-inline-color\">Me:&nbsp;<\/span><\/strong><\/p>\n\n\n\n<p>Our business experts have already calculated the capital cost.&nbsp;<\/p>\n\n\n\n<p>So as per their calculation, you will be required to majorly invest in development.&nbsp;<\/p>\n\n\n\n<p>And talking about the development cost, it depends on the time it requires to develop the platform as developers all around the world charge on an hourly basis.&nbsp;<\/p>\n\n\n\n<p>So, if it takes them 400 hours and if they are charging $40 per hour, the development cost would be $16000.&nbsp;<\/p>\n\n\n\n<p><strong><span style=\"color:#dd0055\" class=\"has-inline-color\">Jack:&nbsp;<\/span><\/strong><\/p>\n\n\n\n<p><strong><span style=\"color:#7b68ee\" class=\"has-inline-color\">And how long will it take me to cover the capital cost and start making a profit?&nbsp;<\/span><\/strong><\/p>\n\n\n\n<p><strong><span style=\"color:#dd0055\" class=\"has-inline-color\">Me:&nbsp;<\/span><\/strong><\/p>\n\n\n\n<p>No one can estimate the exact time. But this basic calculation can help you.&nbsp;<\/p>\n\n\n\n<p>If 20 users everyday book the televisits from your platform and you are making $20 on each televisit as commission, you are making revenue of $400 every day.&nbsp;<\/p>\n\n\n\n<p>If we deduct $100 of operating cost from it, you end up making $300 every day as profit.&nbsp;<\/p>\n\n\n\n<p>With $300 every day as profit, you will cover the capital cost of $16000 within 54 days!&nbsp;<\/p>\n\n\n\n<p><strong><span style=\"color:#dd0055\" class=\"has-inline-color\">Jack:&nbsp;<\/span><\/strong><\/p>\n\n\n\n<p><span style=\"color:#7b68ee\" class=\"has-inline-color\"><strong>Can you tell me the future of the telemedicine marketplace in 2 lines?<\/strong>&nbsp;<\/span><\/p>\n\n\n\n<p><strong><span style=\"color:#dd0055\" class=\"has-inline-color\">Me:&nbsp;<\/span><\/strong><\/p>\n\n\n\n<p>With more telemedicine providers, your platform will get more users as more providers mean more confusion among users.&nbsp;<\/p>\n\n\n\n<p>And with more telemedicine users, more telemedicine providers will approach you to list their services on your platform!&nbsp;<\/p>\n\n\n\n<p><strong><span style=\"color:#dd0055\" class=\"has-inline-color\">Jack:&nbsp;<\/span><\/strong><\/p>\n\n\n\n<p><strong><span style=\"color:#7b68ee\" class=\"has-inline-color\">Is there any challenge?&nbsp;<\/span><\/strong><\/p>\n\n\n\n<p><strong><span style=\"color:#dd0055\" class=\"has-inline-color\">Me:&nbsp;<\/span><\/strong><\/p>\n\n\n\n<p>Yes, there is!&nbsp;<\/p>\n\n\n\n<p>The major challenge is healthcare compliance.&nbsp;<\/p>\n\n\n\n<p>Since your platform will be handling users\u2019 personal and medical information, you have to address data privacy laws.&nbsp;<\/p>\n\n\n\n<p>These data privacy laws have many technical, operational, and business regulations.\u00a0<\/p>\n\n\n\n<p>We will look after technical regulations with our in-house compliance experts.&nbsp;<\/p>\n\n\n\n<p>But yes, you will have to take care of your side of operational and business regulations.&nbsp;<\/p>\n\n\n\n<p>I know. It will be difficult for you. But don\u2019t worry. Our compliance experts will guide you there as well.&nbsp;<\/p>\n\n\n\n<p><strong><span style=\"color:#dd0055\" class=\"has-inline-color\">Jack:&nbsp;<\/span><\/strong><\/p>\n\n\n\n<p><strong><span style=\"color:#7b68ee\" class=\"has-inline-color\">So, this way, you will be helping me with telemedicine tech, business, and compliance.\u00a0<\/span><\/strong><\/p>\n\n\n\n<p><strong><span style=\"color:#dd0055\" class=\"has-inline-color\">Me:&nbsp;<\/span><\/strong><\/p>\n\n\n\n<p>Right. That\u2019s how only we work.&nbsp;<\/p>\n\n\n\n<p>Because we don&#8217;t just deliver mobile\/web apps.&nbsp;<\/p>\n\n\n\n<p>We deliver our earned expertise in telemedicine tech, business, and compliance.\u00a0<\/p>\n\n\n\n<p>And not to include, we work only with Canadian standards of work!&nbsp;<\/p>\n\n\n\n<p>You can check out our <strong><a href=\"https:\/\/www.syscreations.ca\/telemedicine-startup-ontario\" target=\"_blank\" rel=\"noreferrer noopener\"><span style=\"color:#7b68ee\" class=\"has-inline-color\"><u>case study on telemedicine app development<\/u><\/span><\/a>.&nbsp;<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u201cHello SyS team, I would like to start a telemedicine startup. But not the typical telemedicine platform. I want something fresh and unique. Guide me.\u201d&nbsp; This is the message we received a few days back from Jack while we were already working on 3 telemedicine projects.&nbsp; I quickly scheduled a virtual meeting with Jack to [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":26979,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[10],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v16.1.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>How to Build Your Own Telehealth Marketplace and Aggregator Platform?<\/title>\n<meta name=\"description\" content=\"Know the difference between the telehealth marketplace and the aggregator model, how it works and how to start a telehealth app.\" \/>\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-marketplace\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Telehealth Marketplace\" \/>\n<meta property=\"og:description\" content=\"What is it, how it works and how to start\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.syscreations.ca\/blog\/telehealth-marketplace\/\" \/>\n<meta property=\"og:site_name\" content=\"SyS Creations - IT Management, Compliance &amp; Consulting Company in Canada\" \/>\n<meta property=\"article:published_time\" content=\"2024-01-12T22:55:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-01-14T21:50:23+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.syscreations.ca\/blog\/wp-content\/uploads\/2021\/04\/Blog-54-7-4-21.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Telehealth Marketplace\" \/>\n<meta name=\"twitter:description\" content=\"What is it, how it works and how to start\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\">\n\t<meta name=\"twitter:data1\" content=\"5 minutes\">\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.syscreations.ca\/blog\/#website\",\"url\":\"https:\/\/www.syscreations.ca\/blog\/\",\"name\":\"SyS Creations - IT Management, Compliance &amp; Consulting Company in Canada\",\"description\":\"SyS Creations - IT Management, Compliance &amp; Consulting Company in Canada\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":\"https:\/\/www.syscreations.ca\/blog\/?s={search_term_string}\",\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/www.syscreations.ca\/blog\/telehealth-marketplace\/#primaryimage\",\"inLanguage\":\"en-US\",\"url\":\"https:\/\/www.syscreations.ca\/blog\/wp-content\/uploads\/2021\/04\/Blog-54-7-4-21.jpg\",\"contentUrl\":\"https:\/\/www.syscreations.ca\/blog\/wp-content\/uploads\/2021\/04\/Blog-54-7-4-21.jpg\",\"width\":1280,\"height\":720},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.syscreations.ca\/blog\/telehealth-marketplace\/#webpage\",\"url\":\"https:\/\/www.syscreations.ca\/blog\/telehealth-marketplace\/\",\"name\":\"How to Build Your Own Telehealth Marketplace and Aggregator Platform?\",\"isPartOf\":{\"@id\":\"https:\/\/www.syscreations.ca\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.syscreations.ca\/blog\/telehealth-marketplace\/#primaryimage\"},\"datePublished\":\"2024-01-12T22:55:00+00:00\",\"dateModified\":\"2024-01-14T21:50:23+00:00\",\"author\":{\"@id\":\"https:\/\/www.syscreations.ca\/blog\/#\/schema\/person\/c09c2823449c6b5e7b11fd98b3897f9a\"},\"description\":\"Know the difference between the telehealth marketplace and the aggregator model, how it works and how to start a telehealth app.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.syscreations.ca\/blog\/telehealth-marketplace\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.syscreations.ca\/blog\/telehealth-marketplace\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.syscreations.ca\/blog\/telehealth-marketplace\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"item\":{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.syscreations.ca\/blog\/\",\"url\":\"https:\/\/www.syscreations.ca\/blog\/\",\"name\":\"Home\"}},{\"@type\":\"ListItem\",\"position\":2,\"item\":{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.syscreations.ca\/blog\/telehealth-marketplace\/\",\"url\":\"https:\/\/www.syscreations.ca\/blog\/telehealth-marketplace\/\",\"name\":\"What is Telehealth Marketplace &#038; Aggregator? 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