Looking to start up a business that earns you a lot of money while genuinely helping people? Healthcare could be the way to go. You might be surprised to learn that you don’t need to be a doctor, nurse or healthcare professional in any capacity to set up a thriving business in this field.
1. Set Up a Medical Billing Company
Medical billing companies are relatively cheap to set up, so could be the perfect option for a bootstrapped entrepreneur wanting to set up in the health industry. The setup costs will involve things like software, office supplies, licensing, fees and general marketing and promotion. Your work will involve following up on claims made to health insurance companies to receive payment from them.
2. Sell Herbal Medicines
While conventional medicine these days is incredible, with cures to previously incurable diseases being found and understanding and technology advancing all the time- the alternative medicine industry is still booming. This is because better understanding of alternative medicine proves that these treatments aren’t just placebos- things like acupuncture, massage therapy and certain herbal medicines have been scientifically proven to work. Patients often use alternative therapies alongside their prescribed treatment, and can use it as a way to take powerful drugs at a lower dosage or less often. You could get in on this market by selling herbal medicines, purchase wholesale from trusted suppliers and make a profit this way.
3. Set Up a Blood Bank
Blood is used to treat trauma and disease, and as there’s no way of substituting it the medical industry relies on donors. Starting a blood bank business can be a way to make money while in turn saving lives. An increase in demand for plasma derivatives and immunoglobulins as well as blood donation due to rising diseases has meant this can be a profitable way to earn money. You will need to hire employees who are qualified to take blood, on top of this you will need to purchase equipment like portable incubators to keep the samples at the right temperature for shipping.
4. Start a Health and Wellness Blog
Blogging has grown exponentially in the past few years and is now big business. They give you the opportunity to improve your skills and write about topics you’re passionate about, and in time you will be contacted by sponsors and advertisers about paid work. Blogging is something you can start without much money as all you really need is a computer and an internet connection.
5. Design a Medical App
More and more of us are becoming comfortable with the idea of managing our health online, these days we can track medication, our blood sugar, blood pressure and symptoms of different illnesses right from our smartphones. This puts app designers in a good position to help people while earning money. While there are already some fantastic health apps out there, there are plenty of people with less common conditions that would benefit from an app being created just for them. If you have an idea, either create it yourself (if you’re a designer) or hire someone to make it for you.
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