Healthcare is a rapidly developing industry in India and opportunities are always on the rise. The Healthcare sector is one of the fastest-growing sectors in India and by 2022 it is expected to grow up to 8.6 trillion.
Looking at the current state of the world, the thing which we learned is the importance of health care. Pandemic has taught us how small things can affect our health. Equally, this also gives a boost to the healthcare sector so If you're an entrepreneur planning to enter the healthcare industry this is the right time to invest and grow in this business.
Why You Should Consider Healthcare Business in 2020
- The Healthcare industry in India is being expected to grow up to Rs 8.6 trillion by 2022.
- The healthcare sector can create employment opportunities for millions of people by 2020.
- India’s medical device market size could grow up to $50 billion by 2025.
- The applications of AI in the healthcare industry is progressing at a high pace. Soon India will be worth US$ 6 billion by 2021.
- There are a total of 4,892 startups in the Indian health-tech space.
So here's a list of top 10 Best Healthcare Business Ideas in India(2020)
1. Medical Transcription Services
Medical transcriptions listen to the voice recordings submitted by the physicians or healthcare workers and convert them into written notes. It ensures that the patients receive the right treatment and medications. Medical Transcription Services is one of the best business ideas for healthcare professionals. The recent advances in a speech to text technology is likely going to affect the medical transcription jobs in the future.
2. Medical Records Management
One of the successful healthcare startup ideas can be to assist doctors and hospitals by managing their medical records. You can either provide a full-service medical records management. You can also assist your clients by helping them to manage their medical records by training their staff.
3. Healthcare app
In this growing world of technology patients already have plethora of apps to deal with. So providing an holistic app to the patients that will fulfill their every healthcare need is a great approach . This approach to the personal health will benefit the patients as well as the business.
4. Medical Billing Service
It is the right time to begin a business in healthcare sector as Medical billing services because of the rise in insurance claims by the patients. Due to which the hospitals face the hassle during insurance claims. So to assist them and reduce the burden on hospitals. A medical biller is a person who handles medical claims for the insurance companies. This will lessen the burden on the hospitals during medical claims by the patients.
5. Home Healthcare Service
Home healthcare services are the services which are been provided in the convenience of home to the patients. in convenience of their home. These services are provided to the elderly people. Home healthcare services are less expensive and convenient. And are more effective as compared to that of the care you might get in hospitals.
There are three types of home healthcare services.
Personal care- In personal care nurses are being provided to the elderly people to help them in their daily activities like bathing, dressing, and preparing meals for them.
Private nursing care- In private nursing care, home-based skilled nurses are provided for long term or hourly nursing care for elderly or adults with an illness injury or disability. These services include ventilator service, nursing care, and catastrophic care.
Home healthcare- In home healthcare service the patients can request for a short term physician who can help the patient to recover from illness.
6. Diabetic Care Center
Diabetic care center is one of the top healthcare business ideas in india. Diabetic management center has all the diabetic management facilities under one roof. It helps the patients to control their diabetes and avoid any serious diabetic complication that may arise due to uncontrolled diabetes.
7. Physical Therapy Center
Physical therapy is also known as physiotherapy. It is one of the allied healthcare professionals who treat patients with conditions like acute pain or soft tissue injury. A physical therapy center is a prominent business idea that is profitable as well. You have to open a facility in which you can hire professional physiotherapists to treat the patients. They are also required by fitness centers or sports facilities.
8. Medical Supply Sales
Customers are always on a look for a healthcare products such as medical supplies, braces and many more. You can supply the medical supplies to individual patients or to the retailers. An e-commerce site is a better option to increase the sales and it also helps the customers, who might face difficulty to reach the stores.
Being a Nutritionist is a profitable and less stressful job as compared to other healthcare services. a nutritionist is an expert in the field of food and nutrition. He/she advises people on what to eat to maintain a healthy lifestyle. Many organizations such as hospitals, schools and cafeterias need nutritionist .
10. Childbirth Services
Childbirth services is a bit complicated and crucial healtcare business to handle. If you hire an expert for the job who can make your business grow then childbirth services are great option . The sole purpose is to attend a woman during delivery and while birth.
These are the Top 10 Healthcare Business Ideas For Entrepreneurs in India.
In 2020 there are many business opportunities in the healthcare sector regardless of rural, suburban, or metro cities. Any entrepreneur planning to start a healthcare business in India, 2020 is the right time to commence your business.