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11 Revolutionary Healthcare Startup Vouched by the Pros.

healthcare startup, health, medical science, medical

The healthcare startup or startups in the healthcare sector are growing faster than we might assume—this is true globally. In India, The healthcare industry is projected to grow by 23 percent. The US is also looking to spend 18 percent of its GDP on healthcare according to Statista.

One can say that the recent break of COVID-19 has made the world even more conscious of their healthcare footprints. So this might be another reason that the market has given rise to many emerging startups. These startups cover healthcare segments, booking appointments, online sales of drugs, and function as a commercialized business entity.

Therefore if you are looking forward to building one of the best healthcare startup or health-tech startup, we have got a noteworthy list so that you can get some ideas:

Verge Genomics – Healthcare startup saving lives

The healthcare startup was founded by Alice Zhang and Jason Chen with the sole purpose to use AI to cure diseases. They are working on saving lives by streamlining the medical trial process. The process costs 1.3 billion dollars to take a drug through the R&D phase and the FDA approval phase. 

Verge Genomics uses a novel method to assess which drugs have a higher chance of success using artificial intelligence. The company plans to help large pharmaceuticals better decide which medicines to proceed through the FDA approval process; with its creative approach and which to abandon because they are unlikely to succeed.

Embleema

Embleema has recently launched a HIPAA compliant healthcare blockchain network that enables patients to access and share their medical records with researchers and physicians. In addition, the new approach lets patients organize their data and also benefit from sharing it with various organizations. Such as marketing companies, drug analysts, and so on.

In return for sharing their medical data with researchers, patients using the technology may be paid in crypto-currency. Embleema’s groundbreaking technology may well be a triumph for patients and researchers everywhere.

Credihealth – healthcare startup for patients care

Credihealth is a healthcare startup that is trying to make the life of a patient a little less hectic. The company has invented a new method to get to know about your health and at your time of need—get trustworthy health information. 

5 most successful business model to shoot revenue sky high

startup business model

The business model is the point of acceptance for any successful startup business. No matter how strong an idea is or how unique an approach is, a startup must have a viable way to make money that can sustain sufficiently.

Let’s start with, what is a business model? And how do you know you if your startup business has got the right model?

A business model explains what consumer problems your startup chooses to resolve. The model shall define why your solution works better than competing ones. How big a wedge a business can drive. How many customers are willing to pay, and what are the expenses?

There are many different models one can choose from for a successful business. You are selecting one best suited to your company’s needs and domain that determines your company’s future.

Sweat not, we have got five business model that has proven to be successful for the majority of the startups:

1. Cut Prices Now, Gain an Industry Share Later

Focus on a large market, and sell a product with quick delivery and excellent service at the lowest possible price, expand the product line as the business grows. Then negotiate volume discounts with vendors and invest in technology to speed up customer response time and reduce organizational waste. 

They are thus ensuring to deliver the lower cost to the customers with maximum value.

The number one move here is to focus on long-term growth. The power of not caring for short-term profits—made the Amazon what it is today. Not only the Jeff Bezos is the world’s wealthiest person for the third year in a row, but also the company’s revenue for the quarter ending June 30, 2020, was $88.912B. Which is a 40.23% increase year-over-year according to the report by Macrotrends

2. Become A Marketplace

Becoming a marketplace merely is bringing supply and demand together. The idea is simple, but it is also cost-effective—having zero to little overhead and no inventory. One can get a fancy office space if they like, can practically run the business online. 

On the other hand, you take on many risks if you produce a product to utilize all the inventory. Instead of thinking about production costs, if you are the marketplace, you take the sellers to the buyers and promote a deal, taking a small cut from each piece. 

The model works because the founder may provide sellers with a place to profit and meet buyers, while buyers can find just what they want, mostly at a reduced price. Some of the most prominent examples of the business model are Airbnb, Amazon, Uber, etc.