Top 7 Business Ideas For The Medical Field: How would you like to be your own boss? What if you could do it from the comfort of your own home? Believe it or not, this can be achieved in the medical field by starting your own small business. Below are seven business ideas that use the medical field as their foundation to earn you extra income and build your client base into an income stream.
Top 7 Business Ideas For The Medical Field
1) Healthcare Provider
These workers directly interact with patients, providing advice, treatment, and prevention techniques that can improve or maintain their health. There are many career opportunities available for those seeking a position in healthcare services. While going to school may be required for certain positions, many healthcare providers acquire their skills and experience through apprenticeships, internships, or on-the-job training.
Skilled professionals can even start their own businesses as consultants or entrepreneurs providing personal and specialized care services to clients. If you are planning a career in healthcare services, there are plenty of business ideas to explore. Here is a list of the top seven best business ideas for the medical field; Medical Billing Service, Health club franchise, Personal Fitness Trainer’s company, Pediatric Physicians Group Practice, Travel clinic, Healthcare Information Technology consultant’s agency, and Hospice homecare service provider.
If you want to start your own healthcare-related business then make sure that you have received some kind of certification regarding the latest technologies before starting your own enterprise. A market survey would also be useful for getting information about new upcoming technologies, products, and methods related to the healthcare sector.
2) Healthcare Technology
In recent years, new technology has transformed healthcare delivery. From mobile apps that help doctors track patient progress to Internet-based physician searches, there are countless ways for physicians to be more efficient and get higher quality care to patients. You may find opportunities as a physician assistant or even have an entrepreneurial moment of genius and decide to start your own business in healthcare technology.
However, you choose to approach it, with some research and thought about what you’re passionate about, finding a business idea in medicine is possible—and profitable. If you want to work for yourself but still stay close to medical services, becoming a physician’s assistant could be a great option.
Physician assistants assist doctors during surgeries, lab tests, and general office appointments by taking vital signs, ordering medication refills, and handling other day-to-day tasks; they typically don’t have their own practice though they can specialize within certain areas of healthcare such as pediatrics or women’s health.
Research assistants analyze biological specimens and tissue samples collected from patients during clinical trials; if your background lies in chemistry or biology, working at pharmaceutical companies could also provide ideal work conditions.
3) Healthcare Consultant
Whether you’re a nurse or doctor that wants to get into business for yourself, a company looking to outsource work, or a patient wanting to find a healthcare consultant; one of these business ideas will help you succeed. 3-D printing is quickly becoming more widely used in hospitals, and soon more patients will be able to benefit from customized 3-D printed medical prosthetics.
Technology such as video calls and telemedicine are also being developed at an incredibly fast pace; which means doctors will be able to offer services like video consultation over Skype. Some companies are even trying their hand at medical tourism – taking patients around the world on trips designed just for them. If you have experience in medicine or healthcare and want to open your own clinic then read on!
These businesses all fall under our umbrella term of medical field: Dentist Office Services: Dentists are always hiring assistants, hygienists, and more. A dental office assistant can make anywhere between $20-$40 an hour. Oral Surgeon Office Services: Oral surgeons can also hire a wide range of employees including technicians, dental hygienists, receptionists, and dental assistants who take x-rays while they assist dentists during surgeries.
4) Health Practitioner
Health practitioners work with people who have one or more health issues. Some examples of job titles within this category include chiropractors, dentists, doctors, physical therapists, and physician assistants. If you like helping people and are good at science (or biology), then a career in health care might be right for you.
Even if you don’t love science, there is always a need for medical professionals to diagnose conditions and provide treatment plans. It also doesn’t hurt that many careers in health care are growing faster than average! Look into health care as a field that could provide new opportunities for your future.
Don’t forget about business-related programs such as accounting or finance; these skills could help turn your passion for helping others into a profitable business idea! #3: Massage Therapist Many people benefit from massage therapy, but because it’s not regulated by most states, it can be difficult to find a professional that won’t try to make an extra buck out of you. But fortunately, you can easily set up shop in your own home with just minimal equipment—and potentially make some nice cash doing so!
It’s possible to become certified through short online courses and obtain your license after training under another licensed therapist. After working on clients out of their homes for two years while owning their own licenses, they’re eligible to apply for permanent licensure.
5) Medical Marketplace
If you’re in any branch of medicine, from chiropractic to acupuncture, think about what you’d want if you were a patient. Could you create a tool or program that would make your practice run more smoothly? Could it help to efficiently schedule patients in your office?
Or is there a piece of equipment that could prevent costly mistakes during treatments? If so, then it might be worth looking into creating an electronic health record (EHR) system—though you should probably first get an understanding of HIPAA (Health Insurance Portability and Accountability Act).
Another option is medical billing software: since many medical practices have incredibly complicated claims processes, billing software can greatly simplify things. And now that it’s tax season, another business idea for anyone who does taxes for a living: TurboTax for accountants!
Accountants are swamped right now with people rushing to file their taxes after January 1st, but last-minute filers are often hit with late fees if they don’t do their own math correctly. Imagine how valuable a tax calculator could be for accountants’ clients!
One caveat: most states require certain licenses or certifications before you start running a business out of your home; however, one notable exception is coding — and learning how to code is almost as easy as picking up a new language.
6) Community Care Facility
There are plenty of different treatment centers that specialize in specific health conditions or ailments. Examples include physical rehabilitation and addiction counseling. A center might be a public institution, a private institution, or even operated for-profit by a private company. Treatment centers can range from very small to very large and complex.
With so many available niches, however, it’s important to do some research before getting started. As with any other business, you need to first find out if anyone else is operating within your niche market. If so, make sure your business idea is unique enough to attract new customers. If not, then you might have found a hole in the market waiting for you—if you proceed with caution.
Whatever avenue you choose, avoid entering into healthcare without having proper experience; though industry experts say startups founded by nonprofessionals don’t often have success because their owners don’t know what they’re doing [source: Salomon]. Make sure to study everything from legalities to insurance coverage. What kinds of clients does your potential hospital or clinic see?
How much training do you need in order to provide care for those patients? These details will become more clear after putting together a strong business plan. Once your plan is finished, seek out funding assistance at a small business development agency or at an angel investor group. You may also want to look into bank loans and Small Business Administration loans. Keep reading below!
7) Treatment Center
One business idea for doctors to consider is opening a treatment center. You’d provide physical therapy or other treatments to people who have been injured and are seeking help getting back on their feet. Though you might need additional training, you can start by working with professionals in your area who offer similar services.
Once you gain experience, you could open your own place and create an integrated practice that offers both services side-by-side. This will allow you to attract more clients looking for a one-stop-shop for rehabilitation. As long as you treat each client with care and attention, there’s no reason why you can’t reap significant benefits from running a medical treatment center.
Start small—the key is to focus on quality before thinking about growth.
Unsure what medical practices are best for growing? Consider seeing which physicians local patients choose when they have multiple options available to them. If a lot of people opt to see Dr. Smith when he’s nearby, then chances are he provides high-quality service at reasonable prices. And if he happens to provide specialized services such as orthopedics or internal medicine—bonus!
Also Read: Top 10 Business Ideas For Entrepreneurs
Conclusion
All industries experience changes, sometimes at a glacial pace and other times with dramatic speed. Healthcare is no different. With advances in technology, there’s never been a better time to be a doctor or work in healthcare. No matter what area of medicine you are interested in, there’s an industry disruptor out there waiting for you to discover it.
Whatever your passion and personality, no doubt some entrepreneur somewhere has already built something (or is working on it) that will allow you to express yourself through your career choices and take advantage of technological innovations made possible by today’s digital tools—all while earning money for you and your family. You just have to be willing to find them. After you start writing your post, consider asking others to contribute their thoughts based on your outline.
Once they share their feedback, compare ideas, integrate complementary points into your post, and add any additional ideas of your own. Decide whether or not any revisions need to be made after incorporating all comments and then publish it! Not only will you feel like an accomplished blogger but people who need help may read what you’ve written!
