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5 healthcare business ideas for business owners to make use of

  • Highlights

  • The healthcare industry is growing rapidly in the country

  • Medical transcription and app services promise good returns

  • In-home services, travel- and nutrition-clinics are good business avenues

  • Avail up to Rs.30 lakh with Bajaj Finserv Business Loan

According to Firstpost, India’s healthcare industry at present is worth a staggering 81.3 billion USD. Further, Invest India, a national agency, estimates that the healthcare sector will grow to a whopping 372 billion USD by 2022. As a medical professional, there’s no time like now to ride on the favourable economy and bring to fruition some of the health and wellness business ideas you may be nursing for a while. In fact, with funding options like the Bajaj Finserv Business Loan offering collateral-free financing of up to Rs.30 lakh, all you need to do is build on your medical business ideas and develop them so that you can offer something truly unique in the Indian market.

To help you get a head start, here is a list of 5 of the best future business ideas for the healthcare industry.

Offer medical transcription services

According to a 2018 Financial Express report, the ratio of allopathic government doctors to patients stands at around 1:11,000. While this reflects the dire need for medical professionals, it also highlights the excessive workloads doctors carry each day. In such a situation, medical transcription services that provide an alternative to patient-related paperwork come as a welcome solution. The fact that doctors can focus on their surgeries and core duties and create patient reports by simply making an audio file is what makes this an attractive health business idea today. Essential services here include proof reading, quality assurance and speedy turnaround times.

Develop a wholistic healthcare app 

Among the best and untapped business ideas for healthcare professionals, is the creation of a comprehensive smartphone app. Today, patients have a plethora of apps to deal with: one for course reminders, another for checking symptoms and a third to book medicines. However, providing a holistic app is the need of the hour. Ideally the app should provide information about diseases, facilitate telemedicine via communication with doctors, give patients regular medication reminders and even provide quiz-based services for one to evaluate mental and emotional health. This comprehensive and non-fragmented approach to personal health will benefit both your business and patients alike. 

Advise people on daily nutrition

With the awareness and the number of lifestyle diseases on the rise, one of the top healthcare business ideas India is setting up a nutrition clinic. A nutritionist or dietician helps individuals regulate their intake, helping them realise the effects that various foods have on their health. The role of a nutritionist goes beyond simply counselling one to avoid harmful foods to optimising aligning the patients diet to his/her metabolism. Nutritionists have an important role to play, whether it is in weight loss or disease prevention. With more and more Indians becoming aware of the adverse effects of packaged foods, a nutrition clinic makes for a winning healthcare business idea.

Provide in-home medical services

Whether it is meeting the needs of a large elderly population or helping one recover from a serious accident, in-home medical services have a big role to play in contemporary society. Your business can venture into providing skilled physiotherapists to deal with cardiac and post-pregnancy problems or provide round-the-clock nursing services to the sick. Similarly, the services could include simple doctor consultations or extend to providing medical beds as well. What makes this one of the best healthcare start-up ideas is that in every case, you meet the patients where there are and provide them an unparalleled degree of convenience. 

Set up a travel medicine clinic

With air travel getting cheaper and the world becoming more of a global village, international holidays and business trips are a common occurrence today. However, overseas travel also opens new doors to the healthcare business. From offering remedies to high-altitude sickness, and jet lag to advising customers on essential practices and providing required vaccinations, a travel clinic can be the one-stop-shop to all international sojourners. This pharmacy-related business idea makes great sense if you intend to start your venture in a city that has a large influx of travellers from around the globe.

Now that you know some of the top ideas and how to start a medical business consider funding options. The Bajaj Finserv Business Loan is a top solution as it offers unsecured financing up to Rs.30 lakh coupled with swift processing and speedy disbursal times. Here, you can also avail the Flexi Loan facility, a feature that allows you to pay interest-only EMIs through the tenor and the principal at the end. Opting for this can tip the math in your favour as your instalments reduced by up to 45%.

To get started, check your pre-approved business loan offer from Bajaj Finserv. On sharing basic details, you get instant approval via a customised deal and put yourself on course to translate your healthcare business ideas into reality.

Additional read: 3 tips that will help you boost medical supply sales

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