Posts

5 Reasons Your Startup Should Be in Healthcare

/in /by

StrategyDriven Starting Your Business Article | 5 Reasons Your Startup Should Be in HealthcareWhen you think of startup companies, you may think of some obvious ones that are now household names. There are social media platforms, mobile video games, banking apps, ride-sharing services and home rental marketplaces. You know them well.

An arena that isn’t as often spoken about in the same breath as these other game-changing companies is the healthcare industry. The Patrick James Trico Group is well aware that startups in the area of medical innovation and data processing are where the biggest and most beneficial progress will be.

1. A Better Patient Experience

With technological advancements, a patient’s healthcare experience should begin long before a visit to the doctor’s office. Artificial Intelligence and wearable tech could collect analytical information for the doctor to evaluate before you even make an appointment.

The appointment itself could be scheduled by an AI-driven system in much the same way that pharmacies use software to send automated calls and texts when a patient needs a refill. There is a wide range of possibilities for improvements in all aspects of a patient’s experience.

2. Automated Data Collection

Robotic automation of data collection is an area in which many hospitals and healthcare facilities could benefit. Human administrative errors are a common occurrence, accounting for countless mistakes, which could cause someone to pay a higher price or, at worst, have the wrong procedure performed.

With data collection performed by robotic automation, many of these errors could be prevented. Other industries already use similar automated data collection and machine learning to streamline their business, creating straightforward, painless engagement and happy customers.

3. Improved Information Storage

Your healthcare information is fragmented across all the different clinics, hospitals, doctor’s offices, and any other health facility you’ve ever been to. Rarely do these entities communicate well and share that information without some complicated process of requesting that such information be sent from point A to point B.

A central ecosystem that houses data easily and safely would allow medical staff to retrieve patient records instantly, avoiding potentially harmful mistakes and allowing for accurate and timely care. An AI-driven functionality could also find and address any anomalies in patient records.

4. Creative Innovation

Medical researchers do a lot to progress healthcare and provide much-needed information by way of well-researched and thorough study. But often the solutions offered by those immersed in the healthcare field are from a calculated, linear and dogmatic approach.

Entrepreneurs are creative innovators willing to think outside the box and attack a problem from a completely new point of view. Their solutions may require some reframing of the way a facility currently does business, and therefore might never occur to a dyed-in-the-wool healthcare professional.

5. Everyone Benefits

Efficiency and progress in the healthcare space will benefit everyone involved: the healthcare providers, the patients and, of course, the startup company that provides the innovation.

Institutions with leadership that understands the need for the most effective quality care will be smart to embrace the technological advancements that startups may provide. The patient will reap the benefits of efficient and smart healthcare and the startup will reap the rewards of the market.

The Influence of Start-ups on Healthcare

/in /by

adolescent apple beautiful 257283

There are startups in every industry that are changing the way we do things in all aspects of our lives. Healthcare is no exception. In recent years, the number of startups in the healthcare industry has skyrocketed, and their innovations have potentially changed the future of healthcare.

Our health and insurance requirements start to change after we turn 26, which makes innovations in this area incredibly important. Here are some of the many ways startups have influenced the healthcare industry.

Fertility, Pregnancy, and Newborn Health

Startups have caused huge strides forward in both fertility and newborn health. For fertility, various testing methods have been invented to allow couples facing fertility problems to complete assessments in the comfort of their own home. Rather than being relegated to interactions with various doctors and meeting medical professionals in public settings, they can test their fertility privately and make decisions based on the findings. This saves time and allows for privacy and discretion.

There are innumerable applications available that allow couples to track their pregnancy and guide them through this physically and emotionally taxing time. They are often rolled into fertility applications, to help couples conceive. It is expected that in the future, smartphone apps will be able to listen for a baby’s heartbeat and even perform an ultrasound.

In newborn health, innovations by Neolight have resulted in a product that helps treat and prevent jaundice in newborns. As the majority of newborns experience some level of jaundice, their energy-efficient, safe, and portable product will help treat newborns safely and effectively while reducing readmissions to hospital.

Patient Engagement Apps

App development companies have been continuously working toward health tracking protocols that can be delivered to medical professionals, saving wait times and presenting clear, analytical data. For example, sleep trackers, activity trackers, and symptom trackers are all readily available on smartphones and smartwatches.

These apps when consolidated, present a clearer picture to medical professionals when a problem arises, especially now since they’ve been regulated with the HIPAA compliance act. They may be able to pick up on inconsistencies that speak to a deeper issue, that users may not have picked up. On the other hand, using these apps helps people become more mindful of what’s going on in their body and flag any issues that seem unusual. This could lead to getting a medical consultation earlier than they would otherwise, improving their prognosis.

america analysis business 926987

Cancer Fighting Innovations

Scientists and startups are continuously working toward finding a cure for cancer. While there is no definitive cure yet, incredible advancements have been made in prevention and early detection. For example, skin cancer prevention products have been created to tell people when to reapply sunscreen. Other imaging techniques highlight tumors, making them easier to detect during scans and surgical removals.

On the other side of the battle against cancer, a startup known as Vivor has created a platform where cancer patients with financial troubles will be matched with different charities and financial assistance programs that can help them during treatment. Similarly, MyPeople Health is taking a patient-centric approach by focusing on creating apps that guide a patient through their journey, explaining everything simply yet thoroughly.

Startups offer a unique and fresh perspective to the healthcare industry, which is how advancements are made. Looking back at the changes over the last twenty years shows just how far we can go in a short amount of time.

How To Decide If A Career In Healthcare Is Right For You

/in /by

StrategyDriven Professional Development Article

A career in healthcare offers various opportunities – including becoming a doctor, nurse, chiropractor, physiotherapist, and dentist, to name a few. If you are reading this article, you may already be thinking about pursuing a career in healthcare but are not yet completely sure. The same way you would choose any career path, you need to think about the choices you are making, and thus weigh the pros and cons. Although, in this case, you need to consider what entering the healthcare industry means, including the money aspect, job security and even time required. The three most notable factors to keep in mind are education, your strengths and the lifestyle choice itself.

Education

What type of education do you need for a career in the healthcare industry? As with all industries, the different career options require different degrees. While some nurses may only require a college degree, becoming a doctor requires medical school and is a longer process. Yet another option in today’s day and age is advancing or completing a degree online. This is beneficial in order to gain work experience and school knowledge at the same time. The online MHA program is one example of this, allowing you to obtain a Master of Healthcare Administration online while continuing to work in your current field. When thinking about education, one of the most important considerations is that of time spent. How long will it take to obtain the degree? It is for this reason than an online degree is often beneficial. Read more

5 Business Opportunities To Consider In The Healthcare Industry

/in /by

StrategyDriven Entrepreneurship Article
Photo courtesy of Pexels

When you’re trying to come up with the right idea for your future business, you’re likely to find yourself faced with a range of different options. Not only might you like to go with something that’s going to be a success, ideally it’s also going to be something that you either enjoy, or know a lot about. Because you’re going to have to market it, sell it, and live and breathe it. If you have a medical background, or you’re looking to get into the healthcare industry and you’re willing to train, you might in interested in a health-based business idea. Of which there are many, yet here are five for you to consider.

Medical Practice

If you’re a trained doctor, or you’re thinking about going to medical school, you could look into opening your own medical practice. Starting your own medical practice might seem like big business, and in a lot of ways, it is. But, it’s also an incredible way to ensure that you’re able to reach your potential as both a medical professional and a business person. If you’re planning on become a doctor, or already work for another practice, your next step along could be to go it alone. So launching your own practice makes a lot of sense.

Pharmaceutical Manufacturing

Or maybe you’re not medically trained, and you’re not looking to wait much longer to get going with your business idea. When that’s the case, you’re going to need to go in a different direction. And that direction could be towards pharmaceutical manufacturing. At this point, you might be wondering if you need either experience or money, this post will give you an honest answer to that, and help you to get started.

StrategyDriven Entrepreneurship Article
Photo courtesy of Pexels

Healthcare Consultancy

You could also think about consultancy. Maybe you’re interested in psychology, or you’re currently finishing up your psychology studies? Then why not think about starting your own therapist’s office, over working for someone else? Perhaps your medical experience is in another field? Well, then you could think about going into consultancy and providing your expertise and insight to hospitals that need the support.

Senior Care

But you could also think more along the lines of the care industry, rather than the medicine side of things. You should be able to find that senior care business opportunities provide you with the career choice you’ve been looking for. Combining both entrepreneurship and healthcare, you’ll be able to start running a profitable business that you can enjoy, as well as provide an incredible service to the seniors in your local area.

Healthcare Facility

Finally, there’s also the idea of starting a healthcare facility, like a senior care home. If you have experience in the elderly care industry and you’ve always wanted to be able to run your own show, this is the idea for you. You will need to find the right location, and look out for reputable staff that can bring your business to life, but if you’re serious about making it a success and creating a place the community can value, it will all be worthwhile.

How Health Practices Find New Ways To Expand Their Revenue

/in /by

If you run a private practice and you’ve done for any serious amount of time, then you have probably already realized that you need to think about medicine as a business. Not just in how you maintain professionalism, effectiveness, and efficiency. You also need to think about profit, which many treat as a dirty word in the industry. However, getting more tight-fisted is not the only way to ensure you see more money. Instead, you should consider looking at just how your business could offer more and thus make more.

StrategyDriven Business Management Article
Photo courtesy of Pexels

Make use of that expertise

Besides thinking like a businessperson, to succeed in running a practice, you need real medical expertise. That same expertise could be the very same tool you use for finding new opportunities for bringing revenue into the business. Not only are blogs good ground for monetization through advertising and affiliates programs. They can also be a tremendous way to build your visibility and your personal brand online. You can also look into providing your advice as a premium product, by producing eBooks or getting into hosting webinars. At the same time, getting more involved in the community around you can help, too. Lots of experts find paid speaking opportunities to share their knowledge at seminars and other live events.

StrategyDriven Business Management Article
Photo courtesy of Pexels

Reach new patients

Naturally, trying to get as many patients into the business is the most obvious way to try and expand your ability to gain revenue. But you shouldn’t just think that outreach and marketing are the only ways to reach more patients. Instead, you should think about what might be preventing certain portions of the market from reaching your services. For instance, for some the barrier is physical. Some people are not mobile or well enough to reach your practice. To that end, some practices are starting to expand their services to those who need them not only by visiting more patients. Many are using more time-effective telemarketing methods from services like Chiron Health. Not only can you improve your patient portfolio, but you could be providing your services to those who have in dire need but lacking this whole time.


Photo courtesy of Pexels

Finding new niches

You might also be able to get more business from existing and new patients alike by simply offering them something that you weren’t able to do so before. When starting a practice, it’s a smart move to ensure that you’re spending on the essentials, investing in the equipment that can supply you with a steady enough flow of work to keep the doors open and the lights on. However, there are ancillary treatments that require more specific equipment or training. If you’re in a position to grow the business, then it might be time to invest in changes to the business that could open you up to extra services such as allergy testing and treatment or urgent care without an appointment.

As the practice grows, you may want to think about branching out into another location. However, that is a significant cost, so for those who want to grow without going to such lengths, the three strategies above can be tremendously helpful.