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Now is the right time for companies involved in the healthcare sector to invest in telehealth mobile apps because most individuals prefer consulting doctors online rather than visiting clinics.
This preference has become stronger with the spread of the Coronavirus Pandemic. The statistics revealed by Statista also suggest that mobile apps for healthcare is a fast-emerging industry with the market potential of $41.2 billion by the end of 2021.
The development of a telehealth mobile app will not only offer immense opportunities for monetization but also will allow doctors and professionals to serve more patients than ever before.
In this article, you’ll learn how the development of telehealth applications takes place and what the potential costs are in the process.
Factors that define the cost of development of telehealth mobile app:
1. Features
The more features you use in the application, the better technology it will require, which adds to the cost. However, it’s encouraged to incorporate the best possible features so doctors can interact with patients better and keep a log of their recovery.
2. Additional Facilities
Added facilities for users and doctors — such as conducting video conferences, sending in-app messages to doctors, and more — enhance the functionality of the app but also add to the cost.
3. Developers employed
The team of developers who have been assigned to design the telehealth app determines the cost too. If the developers’ team is large and well-established in their expertise, they’re bound to cost more than less experienced developers.
4. Compatibility
The compatibility of your application with software and operating systems is also essential but can cost you more.
5. Development Approach
How you want to present your app to users determines the development approach, and no two approaches cost the same. The more advanced you want the app to be, the more you’ll have to pay.
The above factors and more influence the cost of developing a telehealth application. While the set-up has some upfront costs, others are hidden, such as the following:
6. Promotion and Distribution
When developing a telehealth app to offer virtual healthcare, you need to have a promotional strategy so people are aware of your product. Since you deal in the healthcare sector and may not have marketing experts on staff, you may have to outsource advertising and promotions for your application.
Mass-media promotions ensure better reach and an enhanced number of downloads, but a great way to control advertising costs is by promoting the app on social media platforms, which is a lot cheaper than many other marketing options.
7. Incorporating Third-Party Infrastructure
The application interface available to users has to be backed by back-end software to administer operations smoothly. Hence, you also have to pay for the individuals working at the back-end. This is one cost that’s not visible but is equally crucial.
8. Security and Safety of the App
Since the virtual medical assistance you provide through the app has essential patient data stored on the cloud, you have to invest in data security. The healthcare records should only be shared with all necessary precautions taken so it’s not leaked. You can encourage patients to create their profiles and have unique access addresses. All of these security measures can cost a significant amount that often remains undisclosed in set-ups.
9. Compliance with Legislation
Developing a healthcare app also requires investments to ensure the platform meets the healthcare regulations of your country and other countries you’re planning to launch into. For this, you’ll have to obtain required certificates, licenses, and permissions, and disclose the business model to authorities. If not authorized, the mobile app stores don’t allow medical software to conduct business.
10. Recruiting a Competitive Medical Professional
Since you’re planning to operate an app that offers medical assistance, there is no question that you should have a team of medical professionals on board. While you might have a few doctors supporting your platform already, you’ll have to hire a few more to meet patients’ demands. Thus, the selection and hiring process will have to be undertaken, and it can involve significant costs.
Now that you’ve discovered the hidden business costs that entail creating a telehealth app, you can make better decisions regarding financial investments and goals. Typically, a full-fledged telehealth app can cost as much as $240,000 to launch and operate. Then again, the enormous costs involved in app creation can earn you significant returns if effective monetization models are in place.
