S
Starter Story
Business Idea
Start A Telehealth Business
About
Starting a telehealth business requires a great deal of effort, dedication, and most importantly passion.
If you're interested in how to sell telehealth services, or selling telehealth services online, you can use this page as a guide for everything you'll need to know.
Want to learn more? You can check out our full guide on how to start a telehealth business ➜
Key stats
market size
$22B
starting costs
$17.2K
gross margin
40%
avg product price
$45
time to build
8 months
growth
Partnerships
business model
Brick & Mortar
time investment
Side project
work from home?
Yes
Startup Costs
| Min Startup Costs | Max Startup Costs | |
|---|---|---|
| Office Space Expenses | $35 | $3,250 |
| Employee & Freelancer Expenses | $0 | $5,500 |
| Equipment & Supply Expenses | $525 | $5,500 |
| Website Costs | $232 | $6,500 |
| Business Formation Fees | $600 | $4,700 |
| Software Expenses | $150 | $3,044 |
| Advertising & Marketing Costs | $0 | $2,550 |
| Training & Education Expenses | $0 | $1,000 |
| Other Expenses | $0 | $800 |
| Total Startup Costs | $1,542 | $32,844 |
Successful Businesses
| Business | URL | Rank | |
|---|---|---|---|
|
HHS.gov | hhs.gov | #6,342 |
|
Doxy | doxy.me | #8,473 |
|
Amwell | amwell.com | #65,932 |
|
myNEXUS | mynexuscare.com | #211,945 |
|
MendFamily.com | mendfamily.com | #219,982 |
|
Chiron Health | chironhealth.com | #277,336 |
|
Vidyo | vidyo.com | #288,843 |
|
InTouch Health | intouchhealth.com | #375,433 |
|
ATA | americantelemed.org | #644,954 |
|
Healthcare-Grade Televisions & Interactive Patient Education | telehealth.com | #697,717 |
|
Iris Telehealth | iristelehealth.com | #773,210 |
Pros & Cons
| Pros | Description |
|---|---|
| Flexibility | You can put as much time into the business as you'd like. If you like the work and have some initial experience, you can start small and manage all aspects of the business on your own. |
| Ability to start your business from home | It's not necessary to have a physical storefront or office space to get your business started. You can do everything from the comfort of your own home, at least in the beginning! |
| Rewarding work | Starting a telehealth business can be really rewarding work. After all, you are solving an immediate issue for your customer and you're working on something you truly care about. |
| Scalable | With businesses and processes changing daily, there will always be demand for new features, products and services within your telehealth business. Additionally, there are several different business models and pricing tiers you can implement that will allow you to reach all types of customers. |
| Traffic to your website | A telehealth business gives people a reason to visit your website and to keep coming back to you! |
| Meaningful business connections | You never know who you will meet or get to work with for your telehealth business. This could be the start of an incredible business opportunity! |
| Cons | Description |
|---|---|
| Motivation of employees | If you plan to have a sales/content team on board, finding creative ways to motivate them can be a challenge. It's important that you're able to offer great incentives and a good work environment for your employees. |
| Longer Sales Process | A telehealth business can be a big time and money investment for your customer, so it's important you plan and predict a longer conversion funnel and stay in communication with potential customers. |
| Low margins | The gross margins for your telehealth business are typically around 40%, which can make it more challenging to incur new expenses and maintain profitability. |
| High employee turnover | In the telehealth business, employee turnover is often high, which can be quite costly and time consuming for your business. It's important to try and avoid this as much as possible by offering competitive pay, benefits, and a positive work environment. |
| Taxes | As a telehealth business, you typically pay self-employment taxes which can be quite high. It's important to understand what you will be paying in taxes each year so you can determine if the work you're taking on is worth it. |
| High overhead expenses | With starting a telehealth business, there are overhead expenses that come with selling a physical product. You will want to make sure you strategically budget for these overhead costs. We discuss this more in the startup costs section below. |
Marketing Ideas
-
1
Affiliate program
An affiliate program is a way to reward people outside your organization to share your product.
-
2
Word of mouth
The most tried and true way to grow a telehealth business is through word of mouth - some entrepreneurs would say it's more important than all social media.
-
3
Advertising on social media
Social media advertising is one of the leading ways to get the word out when it comes to telehealth business.
There are various different Social Media platforms available to you. Some may be more critical for your marketing efforts than others, however, it's important to have an understanding of what's out there and available to you.
