Unlocking Top Strategies to Monetize Healthcare Apps
How does a healthcare app make money? Originally appeared on Quora: the place to gain and share knowledge, empowering people to learn from others and better understand the world.
In the recent times, healthcare apps have seen supersonic growth. The online healthcare Industry is expected to generate $70.19 Billion revenue by 2026. Apps like Practo, ZocDoc, TelaDoc, etc., have emerged as the trendsetter. Why don’t you download free case study of one such successful healthcare app now?
In the COVID era when people are forced to stay at home, healthcare apps have made the survival easier. This digitalization of healthcare industry had an overwhelming response. Do you have a plan to launch your own healthcare app? Book a free demo to find out how your healthcare consultation app actually works.
Now coming to how these apps make money, here I will sum up the top app monetization strategies which are being used by popular platforms.
This is one of the major ways for healthcare apps to generate revenue. Simply, the professionals like medical practitioners, wellness experts, doctors, surgeons, etc. pay a specific amount to register on these apps. After registering they can offer their services, adding their details, availability, experiences, etc.
Similar to the professionals, healthcare apps make money by charging the patients or the users to pay for a minimum subscription fee to avail the services online. There can be multiple subscriptions plans like quarterly, semi-annually or annually, with different offerings and pricing.
Another popular way of making money on the healthcare app is through advertisements. Basically, it allows external brands to advertise on their app, which is chargeable. And brands (hospitals, clinics, etc.) can pay app companies to promote their services and products.
In-App Purchases & Merchandising
In order to monetize the healthcare apps, merchandising is another good option. So, the app act as a marketplace for selling some external brand products (related) to their users. For instance, apps like Cure.Fit sells their home merchandise (sports shoes, tees, track pants etc.) on their app.
These were the major ways healthcare app makes money. And you need to understand that there is not a single strategy but a combination of multiple ideas through which such apps turn successful. Also, if you want to make the most of the opportunity, by launching your own healthcare app- this is time!