12 Ultimate Healthcare Business Ideas for Young Entrepreneurs - StartupGuys.net (2022)

The healthcare industry is projected to be worth over $10 trillion by 2022. Obviously, this space is extremely lucrative, and the ever-increasing list of healthcare business ideas may interest you as a budding business person looking to make a name for yourself.

Are you an aspiring entrepreneur looking to get into the healthcare industry?

Well, here’s good news! Even without a medical background, there are still plenty of ways you can get in on the healthcare industry. Since the healthcare industry requires various other industries to function as it does, there are numerous opportunities for people with different academic qualifications and professional expertise.

Whether you are a first-time entrepreneur or already have a successful venture in your portfolio, the healthcare industry has a lot more potential than you can think of.

This article will discuss the top 12 trending business ideas you won’t want to miss out on in the healthcare industry.

Get the latest news, resources and tips to help you and your small business succeed.

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12 Ultimate Healthcare Business Ideas for Young Entrepreneurs - StartupGuys.net (1)

1. Mobile Apps

People have busy schedules, so they can’t afford to wait around holding on the phone toschedule an appointmentwith the doctor, stand in line at the pharmacy, or book vaccinations through outdated systems.

A low-cost investment you can make is into apatient-centered mobile appthat ensures personalized care delivery and improved patient satisfaction.For example, you can schedule appointments and order medication with the tap of a button. Then, all you have to do is show up at the doctor’s office or pharmacy.

2. Transcription Services

If you want to work from the comforts of your home, look into healthcare transcription services. Many medical professionals need voice recordings to be converted into written records to be placed into patient files.

While there is voice-to-text technology available, it can still have errors; these can be costly in the medical world. Not only can you offer your transcription services from home, but you can also review and correct voice-to-text files.

With little overhead and the ability to work anywhere you wish, being a transcriptionist enables you to carry on daily life while earning a living.

3. Home Healthcare

It’s an undeniable fact that we all age and develop one sort of medical condition or another. For this reason, going into home healthcare is a wonderful idea. Not only can you create a stable business, but you can also do some good for the local community.

The best places to open a home healthcare business are states with a population in the higher range for age, such as California and Florida.

4. Retail Pharmacy

This is a niche that’s very safe to get into.The best thing about it is people will always need medications, which means there will be a continual demand for your services. You can even stock other daily necessities, such as lotions and over-the-counter medicines.

Please note that even though it’s a retail business, you still have to abide by HIPAA regulations since you’re dealing with patient records. Since you’ll be transferring prescriptions to and from medical practices, make sure you are completely compliant.

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5. Records Management

Whether it’s a small practice or a big hospital, many medical offices struggle to manage their medical records efficiently. So here, you can eliminate their obstacles in two ways.

The first is to create an effective medical records system, i.e., a healthcare inventory management software, and teach hospital staff to use it. The second is to become an outsourced records management service, so the medical establishment doesn’t have to deal with this area at all. That way, small practices can run bare-bone staff with less trouble.

6. Drug Rehabilitation Center

Unfortunately, there’s a drug epidemic in our country. Like with the home healthcare idea, opening a drug rehabilitation center would be filling a community need, and improving things for everyone.

Not only can you help those with substance problems become sober, but you can also create programs to help them regain control over their lives.

7. Health Information Site

You may need a background in healthcare or access to a network of healthcare providers to carry out this idea as bio madam did. This website’s purpose would be to inform users through videos, blog posts, podcasts, and online classes.

Even if you have a medical background, it’s still good to reach out to other professionals. You’ll get more (free) content on your site, and you can help publicize their services.

8. IT Support for Healthcare

Healthcare IT support is definitely an area to get into. With so many records, the medical industry is overwhelmed with data.

These people are in the medical care field because they want to help others, not spend their time dealing with data and compliance. Help them leverage technology by taking this off their hands so they can focus on their passion.

Plus, there’s the issue of HIPAA compliance. As experts in data security and compliance, you can ensure their patients’ files are secure and follow all storage protocols.

9. Marijuana Dispensary

If you live in a jurisdiction where marijuana is legal for either medical or recreational use, you can think about starting a marijuana dispensary. Today, marijuana is becoming an acceptable alternative to pharmaceutical drugs, which means you’ll have plenty of customers.

However, marijuana is still federally illegal, which means you may run into some trouble in the future. Even state law may change, so the longevity of your business may not be so certain.

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10. Medical Supplies

This business idea is very straightforward. As all medical professionals and patients will need supplies, your stock can be as broad or focused as you want.

With medical supply sales, you’ll have two options: open a brick and mortar store or an online one. With an online store, not only will you have less overhead, but it’ll be more accessible for people who are disabled.

To successfully run this type of business, you’ll have to do some market research to find out what locals need.

11. Medical Equipment Sales

When it comes to the healthcare industry, many components make hospitals and practices run smoothly. One of those things is the sheer amount of medical equipment needed. As we mentioned before, you could always start a business that makes these supplies, but an easier (and less capital-requiring) option is medical sales.

Suppose that a couple of biomedical companies develop similar new products that can be used in a dental practice. For example, we’ll call it a non-invasive cavity-detecting tool. They all might be great products, but dental or orthodontic practices can only afford to partner with one company. This is where you come into the picture!

As a medical salesperson, you need to know how to get what you want and create a win-win situation. The great thing about medical sales is that it’s a merit-based system once you get your foot in the door.

Have confidence in yourself and the products you sell, and you could make some serious money on commission.

12. Medical Uniforms

If you are looking for a way to break into the healthcare industry and be creative at the same time, you could help out medical workers by manufacturing their uniforms. Often, uniforms will be reused due to the myriad bacteria and/or viruses they encounter regularly. So, what better reason to start a business than manufacturing an always-in-demand product?

If you make medical uniforms, the main focus will be on the effectiveness of the material, simple design, and most importantly, the wearer’s protection. This is a great space to start if you know the ins and outs, want to help those who protect us, and/or want to take on healthcare business ideas with minimal risk.

Take Advantage of Healthcare Business Opportunities

Well, there you have it! This was a list of the top 12 business ideas for breaking into the healthcare industry. No matter what level of healthcare industry knowledge you start with, if you do a little research, you should be well on your way to getting in while the market’s still hot.

Note: if you’re a reader who has decided to take one of these ideas and make something good, update us on your journey in the comments below! If you’ve already had success in healthcare or have any other interesting suggestions, be sure to post them.

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FAQs

What is the most profitable healthcare business? ›

Best Profitable Healthcare Business Ideas
  1. Medical Equipment Sales. ...
  2. Medical Billing Services. ...
  3. Medical Transcription Services. ...
  4. Veterinary Clinic. ...
  5. Health Insurance Specialist. ...
  6. Online Healthcare Business. ...
  7. Medical Billing Software Development.
26 Jul 2022

What business is best for 2022? ›

The 15 Best Businesses to Start in 2022
  1. Ecommerce Store. Ecommerce experienced a massive boom due to the COVID-19 pandemic. ...
  2. Consulting. ...
  3. Online Course. ...
  4. Graphic Design. ...
  5. Digital Marketing. ...
  6. Cleaning Service. ...
  7. Affiliate Marketing. ...
  8. Dropshipping.
22 Aug 2022

Which business is best for youngsters? ›

6 small business ideas for kids and young people
  • Lawn care, snow removal, and other tasks for neighbors. Make fliers and find clients by visiting neighbors. ...
  • Dog walking and pet/plant sitting. ...
  • Lemonade stand. ...
  • Selling handmade goods. ...
  • YouTube reviews and unboxings. ...
  • Inventions.
26 Aug 2021

What is the fastest growing health company? ›

The fastest-growing health and wellness company is Medifast.

Medifast's main brand is OPTAVIA, which offers health and wellness services, products, and community. The brand is worth $1 billion and has had over two million customers.

Which business will grow in next 5 years? ›

20+ Future Business in India for 2025
  • 1) Outsourcing business. ...
  • 2) Internet of things (IoT) industry. ...
  • 3) Rise of co-working space. ...
  • 4) 3D printing. ...
  • 5) Consumer goods and services business. ...
  • 6) Business in real estate. ...
  • 7) Healthcare industry. ...
  • 8) Consultancy business.
1 Oct 2022

What business will make me rich? ›

  • Financial Services.
  • Eldercare.
  • Business Consultancy.
  • Investment Firm.
  • Education and Training Service.
  • Insurtech.
  • Cleaning Business.
  • Healthcare Consultancy.
11 May 2022

What industry will boom in 2022? ›

Global Fastest Growing Industries by Revenue Growth (%) in 2022
  • Global Airport Operation. 47.2%
  • Global Hotels & Resorts. 40.6%
  • Global Travel Agency Services. 40.4%
  • Global Tourism. ...
  • Global Airlines. ...
  • Global Casinos & Online Gambling. ...
  • Global Commercial Aircraft Manufacturing. ...
  • Global Semiconductor & Electronic Parts Manufacturing.

What are the top 5 small businesses to start? ›

Top 10 Startup and Small Business Ideas to Try in 2022
  1. Cleaning service. Consider starting a cleaning business if you don't mind doing the dirty work others cannot do for themselves. ...
  2. Freelance Writing Business. ...
  3. Amazon Kindle Publishing. ...
  4. Daycare. ...
  5. Pet Grooming. ...
  6. Aerial Photography. ...
  7. Build and Sell Themes Online. ...
  8. Blogging.
15 Oct 2022

What are some unique business ideas? ›

Top Unique Small Business Ideas
  • Dog Walking Business. Dog walking is a great business idea for those who love animals. ...
  • Food Truck Business. ...
  • Online Course Creator. ...
  • Virtual Personal Training Business. ...
  • Pop-up Retail Stores. ...
  • Alternative Wellness Spa. ...
  • Niche Cleaning Business. ...
  • Social Media Photographer.
15 Aug 2022

What business that grow fast? ›

Fastest Growing Industries to Start a Business
  • Travel & Hospitality – 201% aggregate growth rate.
  • Media – 198%
  • Energy – 174%
  • Security – 171%
  • Real Estate – 168%
14 Feb 2022

What is the fastest growing fields in healthcare? ›

Clinical Laboratory Technician

You'll find lab techs in hospitals, clinics, medical labs and even long-term care facilities. Job Outlook: According to the Bureau of Labor Statistics, this job is expected to grow by 11% between now and 2030. This is faster than average growth for other occupations.

How can I make money in healthcare? ›

Top 5 online side jobs for healthcare providers – ways to make extra money from home
  1. Healthcare market research studies – get paid to share your medical expertise.
  2. Healthcare content on social media – make money as a healthcare influencer.
  3. Become a healthcare advocate – earn passive income with affiliate marketing.
12 Apr 2022

How do I start my own healthcare business? ›

Starting a Home Health Care Business? Follow These Steps:
  1. Step 1: Create a business plan.
  2. Step 2: Register with the state.
  3. Step 3: Obtain Medicare and Medicaid certifications.
  4. Step 4: Hire a great staff.
  5. Step 5: Get your clients.
13 Jul 2022

What is the most profitable business to start in 2022? ›

What's the Most Profitable Business to Start in 2022?
  1. 22 Profitable Businesses to Start in 2022. ...
  2. Ecommerce Business. ...
  3. Dropshipping Business. ...
  4. Vacation or Home Rental. ...
  5. Online Courses. ...
  6. Bookkeeping or Accounting Services. ...
  7. Graphic Design Business. ...
  8. Digital Agency.
15 Aug 2022

What industries are making money right now? ›

The 10 Most Profitable Industries in the US
  • Commercial Banking in the US. ...
  • Life Insurance & Annuities in the US. ...
  • Portfolio Management in the US. ...
  • Trusts & Estates in the US. ...
  • Software Publishing in the US. ...
  • Property, Casualty and Direct Insurance in the US. ...
  • Private Equity, Hedge Funds & Investment Vehicles in the US.

Who is #1 in healthcare in the world? ›

Health ranking of countries worldwide in 2021, by health index score. In 2021, Japan ranked first with a health index score of 86.6, followed by Singapore and South Korea.

What is the future of healthcare industry? ›

Beyond episodic treatment, telehealth will continue to expand into the management of chronic illnesses and speciality care, including mental health services. Patients now have easier access to care that is more convenient. In this regard, a National Telehealth Mental Program was announced in the Union Budget 2022.

What is next best action in healthcare? ›

Next Best Action is a precision intervention model optimized to ensure that each member touch point can be maximized to deliver higher levels of patient engagement and reduce medical costs.

What is the least expensive business to start? ›

If you want to start a low-cost business, these 25 ideas will help inspire your entrepreneurial passion.
  1. Content creation. ...
  2. Personal or virtual assistant. ...
  3. Event planning services. ...
  4. Errand/concierge service. ...
  5. Professional reviewer. ...
  6. Social media consultant. ...
  7. Etsy shop. ...
  8. Online courses and tutoring.

Which industry will boom in future? ›

Fast Moving Consumer-Goods Sector (FMCG)

In India, FMCG is the most secure sector for long-term investment. The majority of the products in this industry have been in use for over a century and will continue to be used in the future as well.

What is the hottest business to start? ›

Here is the list f selected hot business opportunities with good profit potential:
  • Start a Blog. You can choose to start a blog of your own on a niche topic. ...
  • Web Designing. ...
  • Freelance Bookkeeping. ...
  • Graphic Designing Services. ...
  • Freelance Writing. ...
  • Online SEO Consultancy. ...
  • E-commerce Business. ...
  • Smartphone Repair Services.

How can I be a millionaire in 5 years? ›

9 Steps To Become a Millionaire in 5 Years (or Less)
  1. Create a Plan.
  2. Employer Contributions.
  3. Ask for a Raise.
  4. Save.
  5. Income Streams.
  6. Eliminate Debt.
  7. Invest.
  8. Improve Your Skills.
5 Sept 2022

What is the next big investment in 2022? ›

Going into 2022, among the key market sectors to watch are oil, gold, autos, services, and housing. Other key areas of concern include tapering, interest rates, inflation, payment for order flow (PFOF), and antitrust.

Which sector is best to invest now? ›

Banking Sector: Experts predict that the financial sector, banking in particular will do very well. The expectation is that the credit growth from 6% to 8% will likely hit double digits, making banking a good sector to invest in.

Which industry will grow in next 10 years? ›

I'll briefly describe each industry and tell you how huge they're projected to become according to some reputable research companies.
  1. Renewable Energy. ...
  2. Internet of Things (IoT) ...
  3. E-Learning. ...
  4. Artificial Intelligence (AI) ...
  5. Cloud Computing. ...
  6. Drones. ...
  7. Blockchain Technology. ...
  8. Cyber Security.
16 Sept 2021

What is the easiest business to go into? ›

What are the easiest home businesses to start?
  • Dog Walking.
  • Selling on eBay.
  • House Cleaning.
  • Freelance Writing.
  • Home Tutoring.
  • Social Media Service.
  • House Painting.
  • Yoga Classes.

What is the easiest business in the world? ›

10 Business Ideas to Make Easy Money and Change the World
  • Educational blogging. ...
  • Teaching online. ...
  • Green app developer. ...
  • Uber driving. ...
  • Social crowdfunding. ...
  • Creating a betterment program. ...
  • Writing ebooks. ...
  • Create an educational travel company.
3 May 2019

What are 5 possible ideas to create a business? ›

10 Great Ways to Generate Business Ideas
  • Start with family. ...
  • Get a little help from your friends. ...
  • Look at all the things that bug you. ...
  • Tap your interests. ...
  • Travel. ...
  • Keep your eyes open. ...
  • Examine old mousetraps -- then build a better one. ...
  • Take it to the streets.
19 Nov 2004

What small business are in demand? ›

If you're ready to take on entrepreneurship but don't know where to start, here are 14 business ideas to consider.
  • Social Media Consulting. ...
  • Senior Care Services. ...
  • Smart Product Development. ...
  • Organic Beauty Products. ...
  • Healthy Fast Food. ...
  • Healthcare Consulting. ...
  • Crowdfunding Consulting. ...
  • Wheelchair Repair.

What is the best startup in 2022? ›

Top 5 best startups to watch in 2022
  • 5 trends in the startup world. Cybersecurity services with artificial intelligence. Development of apps. Beauty and health. Sport and nutrition. Blockchain and cryptocurrencies.
  • The best startups of 2022.
  • SoundHound. Babbel. Saie. Chainalysis. Leilo.

What are the hottest industries right now? ›

Here are the 10 most popular industries among job-seekers right now, according to ResumeBuilder:
  • Advertising and marketing.
  • Computer and information technology.
  • Health care.
  • Business and finance.
  • Retail.
  • Food and hospitality.
  • Education.
  • Arts and entertainment.
17 Jun 2022

What makes the most money in healthcare? ›

Physician and Surgeon

The median pay for physicians and surgeons is $208,000 per year. This averages out to $100 per hour. Not a bad salary and this clearly makes sense to be #1 on out highest paying jobs in healthcare list!

What part of healthcare makes the most money? ›

Read on to find out the highest paying medical jobs in 2022.
  • 10 Highest Paying Medical Jobs in 2022. ...
  • Cardiologist. ...
  • Anesthesiologists. ...
  • Oral and Maxillofacial Surgeons. ...
  • Emergency Medicine Physicians. ...
  • Orthopedic Surgeons, Except Pediatric. ...
  • Dermatologists. ...
  • Radiologists.
8 Aug 2022

What is the fastest growing fields in healthcare? ›

Clinical Laboratory Technician

You'll find lab techs in hospitals, clinics, medical labs and even long-term care facilities. Job Outlook: According to the Bureau of Labor Statistics, this job is expected to grow by 11% between now and 2030. This is faster than average growth for other occupations.

Is healthcare the most profitable industry? ›

Health technology was actually projected to be the most profitable sector of the year with a 21.6 percent net profit margin. Technology services (17.2 percent net margin) were second, narrowly edging past finance (17.1 percent).

What healthcare do rich people use? ›

In essence, concierge medicine is a healthcare delivery model where the client/patient expects and receives “preferential” service. “Preferential” can mean a number of things, from expedited treatment and responsiveness to enhanced access to specialists. Essentially concierge medicine is a patient funded approach.

What is the highest paying non medical job? ›

21 highest-paying nonmedical jobs
  • Judge.
  • Nuclear engineer.
  • Risk manager.
  • Compensation and benefits manager.
  • Statistician.
  • Finance manager.
  • Front-end developer.
  • Economist.

What is the happiest medical job? ›

The 10 Happiest Jobs in the Medical Field
  • Anesthesiologist. ...
  • Nutritionist/Dietician. ...
  • Dentist. ...
  • Respiratory Therapist. ...
  • Optometrist. ...
  • Psychiatrist. ...
  • Physical Therapist. ...
  • Speech-Language Pathologist. Speech-language pathologists (SLPs) help people with communication disorders.

Who is #1 in healthcare in the world? ›

Health ranking of countries worldwide in 2021, by health index score. In 2021, Japan ranked first with a health index score of 86.6, followed by Singapore and South Korea.

Who is the richest person in healthcare? ›

Cyrus Poonawalla, the founder of Serum Institute of India, is the richest billionaire in the healthcare sector in 2022, according to Hurun Global Healthcare Rich List 2022. With a net worth of $26 billion, he trumped other pharma company owners from around the world.

How can I make money in healthcare? ›

Top 5 online side jobs for healthcare providers – ways to make extra money from home
  1. Healthcare market research studies – get paid to share your medical expertise.
  2. Healthcare content on social media – make money as a healthcare influencer.
  3. Become a healthcare advocate – earn passive income with affiliate marketing.
12 Apr 2022

What job is on high demand in the healthcare? ›

Nurse Practitioner – In many states, nurse practitioners are licensed to do much of what physicians can do. As the demand for healthcare services increases over the next decade, the demand for nurse practitioners is expected to increase by 45 percent (2020 to 2030).

What is the future of healthcare industry? ›

Beyond episodic treatment, telehealth will continue to expand into the management of chronic illnesses and speciality care, including mental health services. Patients now have easier access to care that is more convenient. In this regard, a National Telehealth Mental Program was announced in the Union Budget 2022.

Which medical field is best in future? ›

Which medical field is best for future?
  • Health informatics and health information management are two of the most promising fields in the medical industry right now.
  • Technologist in Computer and Information Systems.
  • Opportunities for Tomorrow's Healthcare Professionals.
  • Counseling and nursing for genetic conditions.

What are the 4 main health care sectors? ›

The key sectors of the healthcare industry can be broadly classified into the following four sub-segments:
  • Health care services and facilities.
  • Medical devices, equipment, and hospital supplies manufacturers.
  • Medical insurance, medical services, and managed care.
  • Pharmaceuticals & Related Segments.

How do I start a healthcare business? ›

Starting a Home Health Care Business? Follow These Steps:
  1. Step 1: Create a business plan. ...
  2. Step 2: Register with the state. ...
  3. Step 3: Obtain Medicare and Medicaid certifications. ...
  4. Step 4: Hire a great staff. ...
  5. Step 5: Get your clients. ...
  6. Step 6: Have a solid financing plan for growth.
13 Jul 2022

What are the 3 sectors of healthcare? ›

US Healthcare Sectors

Some healthcare sectors include: Health insurance. Healthcare marketing. Pharmaceuticals.

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