Revenue Model of a Doctor on Demand Application
Are you checking out to pay a visit to your doctor but unable to do so due to one or the other reasons? In that case, you are not only the one. Why don’t you seek appointment through online? Even though lots of industries have suffered during the pandemic time, but Tele medic’s is one which hasn’t slowed down yet. The demand for virtual doctor’s app is increasing at rapid rate as Lockdown in lots of states have marked brick-and motors offices to keep themselves closed and patient are restricted to their homes. You can enter the Doctor-On Demand, a fast growing telemedicine company which announced a series of D-funding around $75 million led by the Private equity firm named as General Atlantic.
In recent times you could order anything on demand, either it be taxi, food, personal trainers or doctor’s. while rest of the things have become popular from quite a long time but On-demand doctors has just gained momentum in past few months. Telemedicine has gained lots of interest from doctor’s, clinics and patients.
We are going to check out that how remote care could address problems of quality, access and cost in delivering services of health. We would also provide an insight of the market of telemedicine market and focus on the outs and ins of doctor on demand app development.
Why does Patient require Doctor on demand Apps?
Reasons why patient require Doctor on demand Apps-
- Unavailability of doctors in nearby locations
- Germ-free wait time and long travel time
- Availability of doctors for disabled and elderly for 24/7
- Challenging monitoring and data of patient.
- Accessibility to expert doctor’s
Why does physician/Doctor’s require Doctor on-Demand Apps?
Benefits do prevail at physician/ doctor’s end. They are listed as under-
- Easy and Quick access to Patients
- Enhancing health of patient in suitable way
- Attract retaining existing patients and new
- Less work of administration
- Flexibility in work-life balance.
Top 5 Best Doctor’s Appointment Apps
Opportunities prevailing in health care market –
Let’s check out what are the opportunities prevailing in doctor on demand app development and telemedicine-
According to some survey it has come out that mHealth market is expected to rise and cross mark of around $316 billion by year 2027. mHealth or mobile health services via app is one of the means to improve the system of healthcare.
A survey has shown that remotely connecting to patients is one of the main reasons for advancing in mHealth business.
Working of Doctor’s on –Demand App
Doctor on Demand App could make things easier for offering medical services online as well off-line. In offline doctors could visit the house of patients in case of emergency. Patients could tap to you in just a single clicks or few taps through screens of phone.
Here is the way Doctor’s on Demand app works-
- Registration by the doctor’s and creating their profile with appropriate expertise.
- The team of admins verify the details of the doctor such as their qualification along with necessary documents.
- Registration of patient through emails and creation of their profile so that the overall treatment records could be kept as history.
- Searching of doctor based on the health issue
- Patients could make a call, call doctor at home and schedule the appointment
- Prescription sharing via app
- Payments could be done online via secure gateways of payment.
Revenue model for Doctor on-Demand App-
Patients do get connected with physicians through video calls, with each one costing around $40 for 15 minutes’ appointment. In case the call goes ahead than the expected time duration then patient should be ready to pay more $40. Patients could pay their visit for health via HAS (Health care spending account), Credit cards and FSA (Flexible spending account). Further doctor could also mention the prescription which would be covered with insurance plan of patient. Doctor on –Demand charges around 25% of cost for each visit. Doctor On Demand app receives funds only when it services has been used. Tips how app publishers of health care and medical categories uses monetization and enhance their revenue model-
- Content of High and Premium Quality
Enhancement of information and knowledge on the recent progress of medicinal sciences are core pillars for professionals of medicines. It’s estimated that in year 2020 the doubling times of knowledge of medicine would be just 73 days, whereas in year 1950 it was 50 years. The expansion and changes of knowledge forces medical and physician’s students to continuously improve and learn their expertise. With encouragement and innovation of mobile learning devices, you could get access to learn anywhere and anytime. There are wider range of journals for doctors which are publishing dozens of articles each day. It turns out that medical professional’s grab access to reliability and quality of the information but also manages time to grab that out. All mentioned above justifies to provide content in the medical apps for an extra or additional charges. E.g. Epocrates provides accurate information regarding drugs, updates and interactions from journals.
The ads market of mobile app spending is nearly around 160 billion dollars. The ads market of mobile is going to attain around 156%, which equals around 250 billion U.S dollars by 2021. Advertising agencies are ready to work with every app seller to gain further momentum. According to the survey conducted, 10% of medical app publisher is using advertising as revenue source. Each network of add would be paying you for different metrics describing the quantity and quality of ads. So if there are more active users and sessions –there would be more installation and clicks. In that case you would be earning more. The best thing of the model is that you could get paid for advertisement and opportunity for removing ads. There are large number of mobile app ad network who are ready to help increasing the revenue. Some of the directions which we could add are- AdMob, AdPrime, HealthyAds etc.
It’s one of the innovative ideas in the health care industry. 24 out of 100 apps are using such options for monetization. In this the app publisher allows other brands, it may be insurance, pharma company, offering their products to the apps user base. Instead of advertisement, the users of medical apps are provided with the sponsorship which the company offers. For finding or searching sponsors for your medical app you should start visiting and attending healthcare conferences or just reading reports from them.
Selling medicines online is on demand. It is the business model with highest % of revenue millionaires among mobile health developers. Even though the model is quite profitable, but still it’s quite complicated for getting it implemented, as agencies of state do protect consumers by controlling the sales of medical products and for selling one should be a licensed distributor. CVS pharmacy, is one of the successful app with the transaction revenue model. The app is suitable for handling prescription, viewing recent orders, setting automatic refills etc. pharmacy tools include filling new prescription, checking drug interactions and pills identification.
It’s the new currency. Anonymous and non-personal data with regards to digital users are precious assets for research institutions and product companies. Data monetization intermediaries collect non-personal data such as mobile operator, device type, country. A third party is never going to collect more info which you would not be sharing willingly. You are configuring the data type for all users, which would be transferred to companies in future. If app is having less than 10000 users than the chances are tangible and revenue could be on lower side. You start gaining profit if the users increase to 50000 daily users. So if there are less users than concentrate on quantity of audiences of app. For understanding how much you could earn with data monetization do visit intermediaries and data collectors.
- Remote consulting (Service Sales)
Among all mobile apps, the apps which are providing appointment with doctors are on higher demand. As the wait times has been reduced. According to survey by Statista, in Boston, for E.g. the average wait time for appointment of physician takes around 66 days and in New York around 26 days.
- Pay for downloading
The security, quality of content and number of feature plays the crucial role in the category of health sector and for something users are willing to pay. Paid medical and health apps work well for smaller target groups as it’s quick and easier to explain the value of application. For example, people suffering from dementia are eager to buy an app which covers everyday task checker or with assistance in recalling critical information. Pay to download monetization in medical may include apps for people suffering chronic diseases.
Costing for Development of Doctor On Demand Apps
The costing of application depends on different options one organization selects. Some options could be pay as you use the model where you are renting the services via our organization. Other option would be licensed one where the application could be designed and developed based on your requirement. The Doctor on-demand earns money by charging some minimal amount of the visit of the patient or patient fees via the doctor. Further you could also work on SAAS sales model.
How Amar InfoTech- Benefit
If you do have an idea to get the health care app developed and looking for development partner, Amar InfoTech would be happy to guide you. You should be free to contact the sales team and get consultations from our end.
Every day there are more options of monetizing apps. Checking on one monetization model for your app doesn’t imply abandonment of others. IF you have skillful combinations of different methods that could help you achieve higher results. It is going to change the barometer socio-economic issue of the health system. It’s the tool for measuring the recent challenges and new trends rising in health care. Due to numerable features, it is on demand and suitable for the health market. They are –deployment of the health resources in suitable and efficient manner, lesser number of hospital trips and sustainable health care systems.