Health care is really shifting rapidly toward a digital world. The very first and foremost telemedicine platform, one that introduces a shift in this world of health care, is Teladoc Health. It is the company which allows any patient at any point in time to see consultation from any doctor of his or her preference without visiting the clinic. For such an emerging demand, most businesses will be interested in developing such a platform. At any business point while entering the making of such a platform, such a massive importance gets created in answering how much did it cost to build HealthTech like Teladoc Health. Let's break it down.
1. Basic Elements for Building HealthTech Platforms
A health tech platform, especially of the kind on which Teladoc operates, contains a number of highly critical components that are to input a glitch-free user interface and interface with them. Such as the list goes below:
a. User Registration/ Profiling
What it does: It is a system of user and patient profiling. In this, the patients are asked to pen down their histories and doctors fill up slots and fields in their respective specialties whom they want to take.
Hours of construction: 50-100
Cost: User system authentication, data security, database management
b. Booking
What it Does: This feature is also offered that schedules an appointment with the doctor and auto-selects slots.
Time to Build: 100-150 hours
Expenses: Calendar integration, and real-time availability sync
c. Video Consultation
What it Does: This is the primary feature of the product -real-time video consultation between doctors and the patient.
Time to Build: 200-300 hours
Costs: Video conferencing APIs like Zoom or WebRTC, encryption, and bandwidth costs.
d. Electronic Medical Records (EMR)
What it Does: This is access to a patient's medical history during consultation and thus keeping care continuum
Time to Develop: 100-150 hours
Costs: Interface with existing EMR systems; data storage security; compliance to HIPAA regulation, etc.
e. Prescription Management
What it Does: It is the feature that allows a clinician to forward an electronic prescription and with an internet connection, it allows a patient to receive his prescription.
Development Hours: 70-100
Costs: Integration cost with an API prescription service, communication links cost with pharmacies network, cost of implementation of security measures.
f. Payment Gateway
It will enable secure payment by referring to the service as well as other services.
Development Time: 50-80 hours
The costs associated are the one with the payments gate integration, like in stripe, PayPal, safety of handling the bank details.
2. Development Phases and Costs Involved
a. Planning Research
You will determine your target audience, as well as identify your competitors, and clarify the goals of the platform at this stage.
Cost Estimate: $5,000 - $10,000
b. UI/UX Design
The user interface has to be very user-friendly and intuitive. This will demand the wireframing and development of interactive prototypes.
Cost Estimate: $10,000 - $20,000
c. Front-end and Back-end Development
This is the part that involves all about the user interface. The back-end development is at the server end and database management.
Cost Estimate: $40,000 - $80,000
d. Quality Assurance and Testing
It has to be smooth, in the safe and amiable collaboration of other technologies.
Estimate Cost: $10,000 - $20,000
e. Deployment and Maintenance
There will be its deployment after which it will be implemented on some cloud infrastructure as majority work to deploy is today being done from such infrastructure only. Regular updates make this entire platform all-time updated as well as echoic.
First launching time: $5,000 - $10,000
Monthly Continuing Costs: $3,000-$7,000 per month
3. Cost Drivers
a. Type Of Platform
High costs: One application that gets deployed across multiple web, iOS, and Android platforms takes more time too. Still, it becomes economical if tools for the cross-platform application such as Flutter and React Native get applied. Still, it loses some of its performance
For a deeper dive into this topic, check out the full article here: HealthTech Platform Like Teladoc Health
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