A question is often get asked by prospective business owners is which industries are the most profitable when it comes to launching a new business, the frequent and prompt answer is “healthcare”. that is why we will discuss in this article, what are the Best future Business Ideas for Healthcare.
By 2030, the Census Bureau projects one-fifth of Americans will be 65 or older. That will be the first time in history the number of Americans over 65 will surpass the number of Americans under 18. This has caused a spike in healthcare-related jobs. In fact, these types of jobs are expected to grow by 18% from 2016 to 2026, which is much faster than the average for all occupations.
There have also been a lot of new developments in the healthcare industry, be it through medical and technological advancements, more interest in health and wellness, or services like Zoc Doc and Flatiron Health. Because of these factors, global healthcare spending is expected to rise 5.4 percent annually to just over $10 trillion by 2022. That’s one percentage point faster than the national GDP is projected to grow during that same time. In other words, there’s a TON of opportunity here in the healthcare business.
In this article, we’re going to provide you with 05 different healthcare business ideas that will be Best future Business Ideas for Healthcareand will help you get a foothold in this booming industry. All of these ideas represent a viable way to make a living, and some can even be performed from the convenience of your own home. Let’s get started.
List of Best Future Business Ideas for Healthcare
1– Medical Transcription Services:
Our first idea is to start a Medical Transcription Services, Medical transcriptionists listen to voice recordings from doctors and nurses and turn them into written documents for patients’ records. Medical transcriptionists can work in a hospital, a doctor’s office, or their own home. Plus, there is no formal education needed beyond a high school diploma, although previous writing or transcription experience doesn’t hurt. While not required, it might help your job prospects to earn a credential as a Registered Healthcare Documentation Specialist or Certified Healthcare Documentation Specialist.
To earn the Registered Healthcare Documentation Specialist certification, you’ll need to take an exam that tests your basic knowledge of medical terminology, as well as your English language abilities. You’ll need two years of work experience to receive your Certified Healthcare Documentation Specialist credential.
If you’re looking for a more tech-forward approach to healthcare, as one of the Best future Business Ideas for Healthcare, consider launching your own healthcare app. This is perhaps one of the most lucrative sectors of the healthcare industry. A recent study found that the mobile healthcare app industry is expected to grow from more than $7.5 billion in 2018 to over $100 billion by 2025. This explosion in growth is being led by consumer healthcare apps like Fit Bit, which helps users track their daily physical activity. There’s also Head Space, a popular app for guided meditation.
If you have a background in technology and an original idea for how to help users take care of themselves, this could be your perfect entry point into the healthcare industry and can be one of your Best future Business Ideas for Healthcare. Just make sure you know who your target audience is and that the app is simple and intuitive. Don’t have a revelatory idea for an app?
That’s okay. There are a lot of opportunities to help doctors digitize their infrastructure. For instance, you could design an app that provides a mobile view of a healthcare provider’s patient portal. This allows patients to access valuable healthcare information on the go. Just make sure your app is safe and secure, especially because you will be dealing with medical records.
3-Senior Home Care Services
As we grow old, we may need someone to take care of us. That’s the idea behind our fourth healthcare business idea, senior home care services which can be adopted as one of the Best future Business Ideas for Healthcare. Every day in the United States, 10,000 seniors turn 65 years old, and many of them want to stay in your own home rather than go to an assisted living facility. This opens up plenty of healthcare job opportunities for nurses, therapists, and personal aides. In fact, this is one of the fastest-growing industries in the country, with the number of jobs expected to rise by 41% by 2026.
In order to provide senior care services, you’ll need to obtain a license in your state. Similar to opening a rehab center, this typically requires you providing your state with a set of policies and procedures. Depending on your state, you may also need to go through a training program. If you want to be able to charge higher rates for your services, you can obtain Medicare and Medicaid certifications from your state. Then it’s just a matter of advertising your services. The National Home Care Association of America and the National Association of Home Care and Hospice are good places to start.
Personal training is about a $10 billion dollar industry with a low bar for entry and a lot of flexibility. If you’re passionate about fitness this may be the perfect healthcare business idea for you or Best future Business Ideas for Healthcare. As a personal trainer, you’ll work one-on-one with a client to develop and implement a fitness training regimen that helps them lose weight, get stronger, improve physical performance or maintain their health. What’s more, most personal trainers charge between $40 and $60 per hour. To develop your market as a personal trainer, pick a specialty such as occupational therapy or strength and conditioning. This will help you develop your market.
Next, you’ll want to get credentialed from the American Council on Exercise or National Academy of Sports Medicine. Then it’s all about perfecting your routine and building out your roster of clients. Many personal trainers start by working at their local gym, as this is a great way to meet prospective customers. It would also be wise to market your services on social media. Click to learn in detail about how to become a personal trainer.
Are you afraid of needles? Then our sixth healthcare business idea, acupuncturist, probably isn’t for you. Acupuncture utilizes tiny needles carefully placed at specific pressure points on the patient’s body to relieve a variety of physical and physiological issues. And there is a growing demand for this form of alternative medicine: Acupuncturist jobs are expected to increase at a rate of 9% over the next few years. What’s more, an acupuncturist commands an annual salary of $70,000 per year.
It is a virtual requirement in any state to graduate from an accredited school of acupuncture with a Masters Degree in Acupuncture or Acupuncture and Oriental Medicine in order to become an acupuncturist. And take note that these programs can last 3-4 years. Once you have your degree, you can open up your own acupuncturist business in your own home, or go to work in clinics, cancer treatment facilities, or in large medical systems like the VA. It is also can be the Best future Business Ideas for Healthcare. Click to know about unique online business ideas.
Now, it’s time to wrap up our list of best healthcare business ideas. We hope we’ve helped you get the wheels turning on your own healthcare business idea. Remember: If we don’t have our health, we don’t have anything, so helping others get healthy and stay healthy is a commendable business venture. Thanks for reading, have good and healthy day.