20 Lucrative Medical Business Ideas for Healthcare Professionals
The healthcare and medical industry is extremely huge industry with abundant business opportunities. From medical waste recycling to retail pharmacies, medical equipment supplies, child care centres, massage therapy, and many more, the vast business ideas and opportunities for healthcare professionals remain so essential for new and existing players in the industry.
Have you ever wondered how people can make lots of money from healthcare industry even without owning a single hospital or manufacturing drugs, below are 20 healthcare and medical business ideas and opportunities that are valid both in Nigeria, Kenya, Ghana, the United States, and many other countries. in the world.
1). Start a Child Care Centre
Child care centre is not restricted to health professionals alone. It’s a pre-schools that care-for and supervise children usually between the age of 1 to 12; whether disabled or not. These centres can be run by anyone that has experience and love in caring for kids.
2). Start a Veterinary Clinic
This is a hospital for animals. A veterinarian cares for, prevents, diagnoses, and treats sick, disabled, diseased, injured, or generally unwell animals brought in for treatment. Also known as a pet hospital, a veterinary hospital can treat almost all ailments any domestic animal may experience.
With the rising ownership rate of pets in various parts of the world, a veterinarian with some experience can setup a veterinary clinic in a neighborhood common with people who buy pets, and also market their services through other regular hospitals that get patients that may largely own pets. This type of clinic can bring in huge income on a daily basis.
3). Start a Drug Testing Centre
Drug testing centres analyse biological specimens like sweat, hair, urine, saliva, blood, and more, to test for the presence or absence of some specific drugs in a person’s body system. These centres carry out drug tests for universities on new students, sports bodies on athletes, and even the police force on suspects. With this, health professional, can create an alternative source of income that generates monthly revenues by carrying out drug tests on specific individuals demanded independently, or by specific bodies.
4). Start a Non Emergency Medical Transport Services
Emergency medical transport services are healthcare services dedicated for out-of-hospital medical care through the emergency transport & treatment of patients in critical need to reach hospitals as soon as possible. Some of these kind of service is available in advance countries like the United State and United Kingdom.
5). Start a Egg And Sperm Bank
A sperm bank or egg bank is a facility that collects and stores human sperm and eggs. These sperms and eggs are usually provided by donors, and are used on ladies that have difficulties getting pregnant.
6). Start A Medical Waste Disposal
Healthcare professionals have an obligation to dispose waste in the most efficient ways that would protect both the public and the environment. These wastes; largely hospital wastes, have difficulties being handled properly, because of the sensitive nature of their causes or potential effects.
Taking advantage of this by offering a medical waste disposal (inclusive of biomedical waste management or disposal) service to various hospitals can land you a great deal for a potential business
7). Start A Skin Care Centres
Skin care centres carry out services that help maintain the integrity of our skins through practices in nutrition, sun protection, cosmetics, skin relief treatments, and a lot more. The skincare doctors that generally handle skin related cases are called dermatologists. By running a skin care centre, you could provide laser skin treatment, facial treatment, and a lot more. If you’re not a certified dermatologist, find one, and partner with the person as an investor.
8). Start A Scanning Centres
Scanning centres are too important to the effective treatment of several medical cases, ranging from bone fractures, pregnancy defects, and much more. Their crucial services makes them a top go-to by several patients for various issues. Even hospitals partner with various scanning centres to reduce the cost of their scanning services for all customers they refer to them.
As a healthcare professional, you could take advantage of the scanning industry by partnering with other certified individuals that can provide the service with an MRI scanner, 3D scanner, a pregnancy scan, and a lot more.
9). Start A Pharmaceutical Distribution
Pharmaceutical distribution is the wholesale distribution of drugs to retail pharmacies. This business model can be carried out by almost anyone, as there’s no restriction to it in some part of the world, unlike the restrictions placed on running a pharmacy. As a pharmaceutical distributor, you can trade wholesale medical supplies to pharmacies and hospitals.
10). Start A Retail Pharmacies
Retail pharmacies are small shop-pharmacies people run to when they have a drug need, an ailment, or some other medical need. An average retail pharmacy usually caters to a specific neighborhood and has a constant recurrent inflow of customers, as long as they mostly always have the drugs requested.
If you’re an inducted pharmacist, you can start up one after acquiring the required permits.
11). Start A Medical Billing Companies
Most hospitals and healthcare centres handle their billing in-house, with a medical billing software. While most physicians may argue that it’s best to handle it locally, a large sect also argue that it’s best to outsource their medical billing service to an external company, so they the experts can easily process their claims if the need arises.
Since the cost of managing the medical billing services in-house could cost as high as $60,000 a year in some countries, depending on the healthcare institution, outsourcing to a third party could bring the costs to as low as $4,000 yearly. If you’re a healthcare professional or an investor you can partner with an experienced person in the field, you could startup a medical billing company.
12). Start A Medical Laboratories
A medical laboratory is a place where tests are carried out to get adequate information about the health status of a person, to either diagnose, treat, or prevent a disease. Most small hospitals refer their clients to get their medical laboratory test done outside the hospital because of the huge financial involvement in acquiring laboratory equipment’s. So, the business potential in this sector is huge and massive. Once a Medical Laboratory is set up and the clinic offers test at extremely low prices in partnership with so many hospitals, once they’re aware of your effective and affordable testing solutions, they’d refer more clients that require serious testing needs to your medical laboratories.
13). Start A Aerobics Centre
Aerobic centres are places where people carry out rigorous exercises designed to increase cardiovascular efficiency. They cater majorly to people with weight issues, cardiovascular problems, and also people who need to undergo rigorous physiotherapy sessions. Some hospitals usually do have aerobic centres, but a large population of hospitals refer their patients to places they can carryout aerobic activities. You can start up an aerobic centre close to a government hospital or a highly populated area to attract more clients.
14). Start A Dietician
Dieticians, also known as nutritionists, are simply experts in dietetics. They primarily alter their patients diet to suit their conditions and medical needs. As a dietician, your primary focus is on human nutrition and the general regulation of a person’s diet.
Before you can take on the role of a dietician, you need to be a certified healthcare professional with a license to diagnose, assess, and also treat nutritional problems. While the market for certified nutritionists may not be extensive in Nigeria, UK and America, the demand for their services are at an expensive rate.
15). Start A Fitness Centre
Fitness centres are places with various exercise equipment people use to workout, in other to build various muscles in their bodies or to also burn fat. People flock them on weekdays and majorly on weekends to keep fit and equally build a great physique.
You can tap into the fitness community by building a fitness centre where people would pay a certain sum monthly, weekly, or daily, to maintain their gym membership and also make personal training requests when they can’t always make it to the gym.
16). Start A Home Care Service
Home care services are provided by licensed healthcare professionals to people who require special care, directly at their homes. Depending on the country, you may require a license or not, to run a home care service.
Home care agencies generally help adults, the senior citizens, and others, who require additional care at home without unnecessary hospitalization.
17). Start A Medical Supplies & Equipment Sales
The medical supplies service in the healthcare industry is one of the most lucrative parts to venture into. Many hospitals require constant supply of some medical utilities like syringes, and a lot more. Some also require supply of medical devices & equipment’s. By building a networked relationship with the procurement officers of various hospitals, you can let them know of your medical supply chain business and how you can ensure they never run out of any medical item they need constantly in stock.
18). Start A Weight Loss Clinic
Weight loss is one of the biggest sectors in the healthcare industry. In America alone, the obese state of the citizens is getting alarming, while in Nigeria and other part of world, many ladies worry about their over-weight status and are looking for every means to shed some weight. To burn off this excess fat, they visit gyms, aerobic centres, and much more in a desperate bid to build their self-confidence through a weight loss program. You could take advantage by setting up a weight loss clinic where people can also pay registration fee on a monthly or yearly basis.
19). Start A Massage Therapy Service
Massage therapy is a process of manipulating the body tissues, which includes the muscles, ligaments, & joints, to promote and enhance a person’s well being and personal health.
People who experience a great deal of anxiety & stress, want to rehabilitate their injuries and reduce any pain they may be experiencing, are mostly referred by doctors to go for a massage therapy.
20). Start A Mobile Medical Screening
This is pretty much a mini-health clinic in motion. With a moving medical screening van or some other mobile device, you can provide flu, eyesight, hearing, malaria, and blood sugar tests on the fly.