The COVID-19 pandemic is a global health crisis. As such, expect the healthcare industry to be the most impacted. Think of healthcare issues such as the lack of medical facilities, scarcity of medical supplies, and shortage of health professionals. Consider the strong push for the cure of COVID-19 infection and the need to roll out vaccines in different communities.
But as they say, crisis breeds innovation and opportunity. This idea applies to the health sector in a COVID-stricken world. It’s best to find healthcare solutions to the pandemic and turn them into a plausible business venture. Not only will you help address the public health needs, but you’ll also earn profits amid the crisis.
Here are seven healthcare businesses to pursue during the pandemic:
1. Offer telehealth services
As a health professional, you have the responsibility to take care of your patients. However, the pandemic restrictions have crippled the delivery of healthcare. On the contrary, patients have been quite hesitant to go outdoors and receive medical care. It is especially true for the elderly and those with underlying health conditions. The best course of action is to offer telehealth services. Use digital tools and technologies to perform virtual consultation, provide digital diagnosis, and conduct remote patient monitoring (RPM).
2. Manufacture pharmaceutical drugs
As mentioned above, the health sector is confronted with a shortage of pharmaceutical drugs. Such scarcity can be attributed to the disruption in the supply chain and the rise of various medical conditions. For this reason, the manufacturing of drugs can be a lucrative business in a pandemic. If you’re a licensed pharmacist who has the knowledge, skills, and expertise in drug manufacturing and distribution, consider taking the plunge. Ultimately, doing so will help meet the needs and demands for medications in your locality.
3. Establish a local pharmacy
In line with manufacturing and distributing pharmaceutical drugs, opening a pharmacy in your locality is a good idea. Given the COVID-19 pandemic, the availability of medications is now more critical than ever. As much as possible, the locals must have easy access to these drugs. If possible, have an online portal for medication dispense and offer delivery services. That way, older people and those with medical conditions can have their regular medications without having someone to go outdoors.
4. Sell medical equipment, tools, and devices
Apart from pharmaceutical drugs, there is a high demand for medical equipment, tools, and instruments during the pandemic. On top of these are the personal protective equipment (PPE) for eye and face, hand, body, respiratory, and hearing protection. These typically include gloves, safety glasses, surgical hoods, gowns, and full-body suits, among others.
Also, health professionals and patients need face masks, surgical masks, respirators, and ventilators. Even as simple as a medical storage and supply cart, powered transport, and sterile wrap racks are needed in a medical facility. Therefore, consider selling these medical supplies and equipment.
5. Market medical software
In recent years, there have been digital and technological innovations in the health industry. Many tech companies have invested in the development of software to assist health professionals and medical facilities. As such, the rise of automation, robotics, and artificial intelligence (AI) has taken ground in the health sector. If you have the knowledge, skills, and experience, consider developing medical apps to help the health industry. Ultimately, this option can be a highly profitable business venture.
6. Open a dental clinic
Dental health is part of an individual’s overall health. In fact, some studies have shown the link between oral health and overall health. To foster overall health, some individuals must not neglect promoting their oral health as well. That said, you may want to open a dental clinic in your locality. You can offer general, pediatric, restorative, and even cosmetic dentistry. But when opening one in a pandemic, be sure to set health and safety measures in place.
7. Start a health and wellness blog
The COVID-19 crisis has led people to value health and wellness. There is a call for fostering physical health, mental wellness, and overall well-being among families in the communities. As most individuals and families are stuck at home looking for health advice online, it’s best to start a health and wellness blog. Your goal is to spread health information and the latest trends in the industry that will help the public. If this will thrive in the long run, you’ll be able to earn money through sponsored ads.
The COVID-19 crisis has crippled the healthcare industry in many ways. But thanks to innovators and entrepreneurs, they are looking to combat the pandemic. If you want to become one of them, consider one of the healthcare business ideas outlined above — from offering telehealth services up to starting a health and wellness blog. By doing so, you’ll help address the crisis in one way or another while earning money at the same time.