Today is the age of science and technology and digitalization has revolutionized every industry. Digital technology and connectivity, robotics, manufacturing, and virtual reality have not only changed the way industries work but have made them easier.
If we talk about healthcare, the technology revolution has completely changed the healthcare industry, and the methods of providing healthcare services have changed and become easy, effective, convenient, and affordable. Telehealth and telemedicine are two
technologies to completely transform the healthcare industry.
What is specialty-specific telemedicine platform?
It is a way to diagnose patients anytime, anywhere through real-time audio-video conferencing. Healthcare providers diagnose their patients with the help of internet and technical gadgets called telehealth and telemedicine.
In this article, we will discuss in detail the cost involved in developing a specialty-specific telemedicine platform, and some statistics on the telemedicine market.
Before discussing the cost involved in developing a telemedicine app we should look at some recent statistics in this field.
According to a report by Statista, the telemedicine market in 2022 is $87.8 billion, while these figures will be $559.52 billion in 2027. This proves that healthcare facilities will be completely online in the near future.
The global digital health market size was $175 billion in 2019, which will reach close to $660 billion by 2025.
Globally, the telemedicine market in the US alone will grow to $22 billion by the end of 2022.
Cost to Develop A specialty Specific Telemedicine Platform
In each country, the cost of developing an app for app developers varies. But a basic telemedicine app costs $40,000 to $55,000.
If we discuss it in detail, the cost of any app decreases with its advanced features and complexity. A high-complexity Specialty Specific Telemedicine Platform
with extensive features can cost $90,000 to $200,000.
According to the Rock health digital health funding report, the H1, 2022 venture capital investment in the digital health space has been counted at $10.3 billion. While the overall funding is $ 21 billion.
This proves that telehealth platforms are not only playing a significant role for healthcare professionals, but entrepreneurs are also becoming a part of this industry.
How much does telemedicine app development cost?
The cost of developing a custom telemedicine app is $40,000 to $200,000. If you want to integrate some special advanced and unique features in your app, then the app price is determined keeping in mind the overall complexity of the app.
It includes UI, UX design, app prototyping, location, an hourly rate of developer, app platform, etc. In short, the more complex the app, the more expensive it will be.
We can divide the app development cost into three categories
- Simple App
- Medium complex App
- Highly complex App
The cost estimation for these three categories is also different such as $40,000 to $55,000, $50,000 to $85,000, and $90,000 to $200,000 respectively.
When the price of developing an app is set, it also includes the total number of hours taken to complete the app development process, the hourly rate of the developer, in addition to the features of the app.
Factors affecting specialty-specific telemedicine platform development cost:
When thinking about developing a specialty-specific telemedicine platform/app, many aspects have to be taken into account and its difference from general apps is that it will be a platform designed for the treatment of a specific disease, such as telepsychiatry. Tele dermatology, telenutrition, etc. So their cost is also on the same basis.
Apart from this, the following aspects are also taken into consideration.
Feature list:
Specialty-specific telemedicine platforms‘ total cost depends on the features integrated with them.
UI/UX:
A good user design is as important as user engagement. So the cost also goes up for good UI UX.
Apart from this, the cost of the wireframe, app platform, etc. is also included.
Conclusion:
To conclude, the cost of a specialty-specific telemedicine platform development depends on the features added to it. A good app design can provide better and more extensive services, which are beneficial to both healthcare providers and patients.