DirectPayNet

Category: TELEHEALTH

  • There’s Still Room in the ED Meds Online Marketplace

    There’s Still Room in the ED Meds Online Marketplace

    The erectile dysfunction treatment market is alive and well with plenty of room for new players. While digital health companies have revolutionized access to ED medications, they’ve also revealed significant opportunities for innovation and market expansion.

    Our analysis below looks at how new players can enter and compete in this fast-changing field. We focus on alternative treatment options and new delivery models.

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    Market Overview

    The global market for erectile dysfunction medication is worth $2.71 billion in 2023. Analysts expect it to grow at a rate of 9% each year until 2030. Digital health companies have transformed this traditionally private healthcare segment into a thriving direct-to-consumer market.

    Market Leaders

    Hims and Roman are leaders in the online ED meds market. They achieved this through their smart telehealth platforms and direct-to-consumer marketing. Both companies offer comprehensive men’s health services, with Roman operating under the larger Ro healthcare platform.

    Growth Trajectory

    Market analysts expect the sector to reach $6.26 billion by 2033. This growth offers opportunities for both established companies and new ones. Several factors drive this growth:

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    Current Market Dynamics

    The market currently experiences a concentration of power among a few key players, but opportunities for differentiation exist. Hims and Roman mainly focus on prescription medications. However, they have not fully addressed other market areas, especially non-prescription alternatives.

    The strong growth predictions and changing consumer preferences show great potential for new companies. Those that provide innovative solutions or focus on overlooked market segments can succeed.

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    The Digital Transformation

    Telehealth platforms have changed how men get treatment for ED. They have removed old barriers and stigmas about seeking care. This transformation extends far beyond simple convenience.

    Telehealth Revolution

    Digital platforms now connect patients with licensed healthcare providers in minutes, eliminating uncomfortable waiting room experiences. These services streamline the entire process, from initial consultation to prescription delivery, creating a seamless customer journey that traditional healthcare cannot match.

    Marketing Evolution

    Direct-to-consumer brands have mastered the art of destigmatizing ED treatment through clever marketing strategies. Companies like Hims and Roman use bold ads that target millennials and Gen X. They use humor and relatable content to make men’s health a normal topic of conversation.

    These campaigns reach consumers through social media, podcast sponsorships, and targeted digital advertising, achieving remarkable engagement rates.

    Subscription Model Impact

    Subscription-based services have transformed ED treatment from a periodic pharmacy visit into a predictable, managed health routine. This model offers several advantages:

    • Providers maintain steady revenue stream
    • Customers benefit from automatic refills
    • Companies gather valuable data on usage patterns and customer preferences

    Technology Integration

    Modern ED treatment platforms leverage sophisticated technology stacks that include:

    • HIPAA-compliant video consultation platforms
    • Secure electronic prescription systems
    • AI-powered health assessment tools
    • Integration with pharmacy fulfillment networks

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    Emerging Opportunities

    The ED treatment market has a plethora of untapped potential, particularly in alternative treatment methods and underserved market segments. Forward-thinking companies can capitalize on these opportunities by addressing current market gaps.

    Alternative Treatment Forms

    Non-pill solutions represent a growing segment that attracts consumers seeking different treatment options. Topical treatments, such as Eroxon, offer distinct advantages:

    • Rapid onset of action (works within 10 minutes)
    • Fewer systemic side effects
    • No prescription requirements
    • Appeal to consumers who prefer not to take oral medications

    Market Entry Points

    Several opportunities exist for new market entrants:

    • White-label manufacturing partnerships allow quick market entry
    • Direct-to-consumer brands can focus on natural or alternative treatments
    • International markets remain largely untapped
    • Specialty pharmacy networks offer distribution advantages

    Customer Segment Opportunities

    Current market leaders leave several customer segments underserved:

    • Health-conscious consumers seeking natural alternatives
    • Price-sensitive customers requiring affordable options
    • International markets lacking direct-to-consumer options
    • Older demographics preferring traditional purchasing methods

    The market keeps changing, allowing new companies to find their place in specific areas. Newcomers can challenge current players with fresh ideas for distributing and delivering ED treatment.

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    Competitive Analysis

    The current ED treatment market has strong leaders in the digital space. However, their business models create room for new companies to gain market share. They can do this by offering unique products and using creative methods.

    Hims and Roman lead the market through distinct approaches:

    • Hims focuses on lifestyle branding and wellness integration, positioning ED treatment within a broader men’s health ecosystem
    • Roman emphasizes medical credibility and comprehensive healthcare solutions, leveraging its parent company Ro’s extensive healthcare network
    • Both companies utilize aggressive customer acquisition strategies through social media and digital advertising

    Here’s a breakdown of their pricing structures:

     

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    Regulatory Landscape

    The regulatory framework for ED medications varies significantly between regions, creating both challenges and opportunities for businesses entering this market.

    United States Requirements

    The FDA maintains strict oversight of ED medications, requiring prescriptions for PDE5 inhibitors like sildenafil, tadalafil, and vardenafil. Telehealth platforms must:

    • Verify patient identity
    • Facilitate licensed healthcare provider consultations
    • Ensure secure prescription transmission
    • Maintain HIPAA compliance throughout the process

    European Market Variations

    European regulations offer more flexibility in certain markets. In the UK, pharmacists can sell sildenafil without a prescription. They do this after a short consultation, creating a mix of prescription and over-the-counter options.

    Over-the-Counter Opportunities

    Non-prescription alternatives face different regulatory requirements:

    • Topical treatments often qualify for OTC status
    • Natural supplements require specific labeling and marketing guidelines
    • Medical devices follow separate regulatory pathways
    • Wellness products face fewer restrictions

    Understanding and following these rules is one of the key steps for entering the market and staying compliant.

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  • How to LEGALLY Sell Pet Meds Online

    How to LEGALLY Sell Pet Meds Online

    The online pet pharmacy market in the United States is experiencing significant growth, driven by the increasing number of pet owners seeking convenient and affordable ways to access medications and health products for their furry friends.

    According to a recent report, the global online pet pharmacy market is expected to reach $13.6 billion by 2027, with the United States being one of the leading contributors to this growth.

    As more pet owners turn to online solutions for their pet’s health and healthcare needs, entrepreneurs and retailers are recognizing the potential of operating an online pet pharmacy. However, navigating the legal requirements and implementing best practices for success can be challenging without proper guidance.

    What You Can Sell on an Online Pet Pharmacy

    Online veterinary pharmacies can sell nearly anything related to pets, including non-medicines like food and toys. Let’s break down what that looks like.

    Meds That Don’t Require a Vet Prescription

    The biggest hurdle you’ll face is getting requests from customers for meds without a veterinary hospital’s prescription. Though not all pet medications require it, you should be aware of the types of meds that do and don’t require a certified veterinary practice’s prescription. Here are the general categories of pet meds that don’t require a prescription.

    • Herbal supplements or homeopathic mixtures
    • Drugs that fight off parasites
    • Steroid-based anti-inflammatory drugs

    Meds That Do Require a Vet Prescription

    Basically, any other type of pet med will require a certified vet’s prescription. This includes:

    • Vaccines
    • Liquid injections or drips
    • Creams and ointments
    • Antibiotics
    • Food additives

    It is good practice to consult with an vet before attempting to sell pet prescription drugs to avoid any legal trouble. You might be surprised at what can be sold over the counter (OTC) or by prescription, so it’s best not to take any risk.

    Also to note: some drugs simply cannot be sold online. If you find that a lot of your customers are seeking a particular prescription medicine that you can’t sell, you could test the waters with linking to a certified vet and strike a contract that details your commission for bringing them clients (basically, affiliate marketing).

    Non-Medicines

    Online pet pharmacies often sell other pet products. You are by no means required to sell non-medicines on your storefront, but it might be a good idea to sell a selection of goods to appeal even more to pet owners.

    These can range from pet foods, chews, and treats to toys and grooming products or even medical devices.

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    Benefits of Running an Online Pet Pharmacy

    Operating an online pet pharmacy offers numerous advantages for entrepreneurs and businesses looking to enter the growing pet healthcare market. Some of the key benefits include:

    1. Convenience for pet owners: Online pet pharmacies provide a convenient way for pet owners to access medications and health products for their pets without having to visit a physical store. This is particularly beneficial for those with busy schedules, limited mobility, or living in remote areas.
    2. Potential for significant revenue: With the increasing demand for online pet healthcare solutions, running an internet pharmacy can be a lucrative business opportunity. The global online pet pharmacy market is expected to experience substantial growth in the coming years, providing a strong potential for revenue generation.
    3. Ability to reach a wide customer base: An online pet pharmacy allows you to reach pet owners across the country, expanding your potential customer base far beyond the limitations of a physical store. This broader reach can help you scale your business more quickly and efficiently.
    4. Flexibility in product offerings: Online pet pharmacies have the flexibility to offer a wide range of prescription and non-prescription pet products, including medications, supplements, and health supplies. This allows you to cater to the diverse needs of pet owners and increase your revenue potential.
    5. Lower overhead costs: Compared to operating a physical pet pharmacy, running an online business often involves lower overhead costs. You can save on expenses such as rent, utilities, and in-store staff, allowing you to allocate more resources to other areas of your business, such as marketing and customer service.
    6. Opportunity for automation: Online pet pharmacies can benefit from automated functionality that streamline processes such as inventory management, online order processing, and shipping. This automation can help you operate more efficiently, reduce errors, and improve the overall customer experience.

    Success starts with the right payment processor.

    Legal Requirements for Operating an Online Pet Pharmacy

    To legally operate an online pet pharmacy in the United States, there are several important requirements that must be met. These requirements ensure the safety and well-being of the animals receiving medications and protect consumers from potential harm. Here are the key legal considerations:

    1. Obtaining necessary licenses and permits: Online pet pharmacies must obtain the appropriate licenses and permits required by their state’s pharmacy board. This typically involves completing an application, paying fees, and meeting specific qualifications, such as having a licensed pharmacist on staff.
    2. Establishing a Veterinarian-Client-Patient Relationship (VCPR): A VCPR is a legal requirement that must be established before a veterinarian can prescribe medications. This relationship ensures that the veterinarian has examined the animal, made a diagnosis, and determined that the prescribed medication is appropriate. In some states, a VCPR can be established online, while others require an in-person examination.
    3. Ensuring compliance with state regulations: Each state has its own set of regulations governing the operation of online pet pharmacies. These regulations may include requirements for record-keeping, prescription verification, and the types of medications that can be dispensed. It’s crucial to research and comply with the specific regulations in the state(s) where the online pet pharmacy operates.
    4. Proper handling of prescription medications: Online pet pharmacies must ensure that prescription medications are dispensed only with a valid prescription from a licensed veterinarian. The pharmacy must also keep accurate records of all prescriptions filled, including the veterinarian’s license number, prescription number, and a copy of the prescription.
    5. Working with licensed veterinarians or pharmacies to fill prescriptions: Online pet pharmacies must either employ licensed veterinarians to fill prescriptions or partner with licensed pharmacies to dispense medications. This ensures that the medications are properly handled, stored, and shipped to customers.
    6. Compliance with FDA regulations: While the FDA does not directly regulate online pet pharmacies, it does regulate the drugs and devices used in veterinary medicine. Online pet pharmacies must ensure that the medications they dispense are FDA-approved and comply with all relevant FDA regulations.

    Don’t let your business crumble due to non-compliance.

    Best Practices for Success

    Running a successful online pet pharmacy requires more than just meeting legal requirements. Implementing best practices can help you attract and retain customers, streamline operations, and grow your business. Here are some key best practices to consider:

    1. Offering a wide variety of prescription and non-prescription pet products: Provide a comprehensive selection of medications, supplements, and health supplies to cater to the diverse needs of pet owners. This can help you attract a larger customer base and increase revenue potential.
    2. Providing fast shipping options, including autoship: Offer fast and reliable shipping options to ensure that customers receive their pet’s medications in a timely manner. Consider implementing an autoship program that allows customers to schedule recurring deliveries of their pet’s medications, providing added convenience and ensuring uninterrupted treatment.
    3. Ensuring a user-friendly website with easy navigation: Create a website that is easy to navigate, visually appealing, and informative. Clearly display product information, pricing, and shipping details to help customers make informed decisions. Ensure that the checkout process is simple and secure to minimize cart abandonment and build trust with customers.
    4. Offering competitive pricing and discounts: Research competitors’ pricing and offer competitive rates to attract and retain customers. Consider implementing loyalty programs, discounts for first-time customers, or bulk purchase discounts to incentivize repeat business and increase customer loyalty.
    5. Providing excellent customer service: Prioritize customer service by offering multiple channels for support, such as phone, email, and live chat. Train your staff to be knowledgeable, friendly, and responsive to customer inquiries and concerns. Promptly address any issues or complaints to maintain customer satisfaction and build a positive reputation.
    6. Investing in targeted marketing and advertising: Develop a targeted marketing strategy to reach potential customers and build brand awareness. This may include search engine optimization (SEO), pay-per-click (PPC) advertising, social media marketing, and email campaigns. Focus on highlighting the convenience, competitive pricing, and wide selection of products offered by your online pet pharmacy.
    7. Preventing the misuse of pet medications: Some consumers may attempt to purchase pet medicine for their own use, which is illegal and dangerous. To prevent this, always require a signed prescription from a licensed veterinarian for any prescription medications sold. Include a checkbox during the purchasing process that requires customers to acknowledge that the products are intended for pets only and are not for human consumption. This helps protect your business from liability and ensures the safe and responsible use of pet medications.

    Have you considered how you’ll accept payments?

    Challenges and Considerations

    While operating an online pet pharmacy can be a rewarding and profitable venture, there are several challenges and considerations to keep in mind. Addressing these issues proactively can help you avoid potential pitfalls and ensure the smooth operation of your business.

    1. Navigating varying state regulations: Each state has its own set of regulations governing the operation of online pet pharmacies. These regulations can vary significantly, making it challenging to ensure compliance when serving customers across multiple states. It’s essential to research and stay up-to-date with the specific requirements in each state where you plan to operate, as failure to comply can result in legal consequences and damage to your reputation.
    2. Ensuring proper storage and handling of medications: Pet medications often require specific storage conditions to maintain their potency and safety. Online pet pharmacies must invest in appropriate storage facilities and implement strict protocols for handling medications. This includes maintaining proper temperature control, humidity levels, and security measures to prevent theft or tampering. Failure to store and handle medications properly can lead to decreased effectiveness, health risks for pets, and potential legal liabilities.
    3. Managing inventory and supplier relationships: Efficiently managing inventory is crucial for online pet pharmacies to ensure that products are available when customers need them. This involves accurately forecasting demand, monitoring stock levels, and maintaining strong relationships with reliable suppliers. Balancing the need to have sufficient inventory on hand while minimizing the risk of overstocking and expiration can be challenging, but it’s essential for maintaining customer satisfaction and controlling costs.
    4. Dealing with potential legal issues or customer complaints: Despite best efforts, online pet pharmacies may face legal issues or customer complaints from time to time. These can arise from issues such as medication errors, shipping delays, or customer misuse of products. It’s important to have clear policies and procedures in place for handling these situations, including protocols for investigating complaints, communicating with customers, and taking corrective action when necessary. Consulting with legal professionals and having liability insurance can help protect your business in the event of legal challenges.
    5. Staying competitive in a growing market: As the online pet pharmacy market continues to grow, competition is likely to increase. To stay competitive, businesses must continually monitor market trends, adjust pricing strategies, and invest in marketing and customer acquisition efforts. This may involve expanding product offerings, implementing loyalty programs, or exploring partnerships with veterinarians or pet-related businesses to reach new customers and differentiate your brand.
    6. Protecting customer data and ensuring cybersecurity: Online pet pharmacies handle sensitive customer information, including personal details and prescription data. Ensuring the security of this information is critical to maintaining customer trust and complying with data protection regulations. Implementing robust cybersecurity measures, such as encryption, secure payment processing, and regular security audits, can help safeguard customer data and protect your business from potential breaches or cyber attacks.

    By anticipating and proactively addressing these challenges and considerations, online pet pharmacies can position themselves for long-term success in a competitive and evolving market. Staying informed, adaptable, and committed to providing high-quality products and services will be key to thriving in this growing industry.

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  • 7 Reasons to Offer Telemedicine Across State Lines in 2022

    7 Reasons to Offer Telemedicine Across State Lines in 2022

    Telemedicine is an integral part of the future of healthcare.

    Already, consumers are able to receive care from doctors and other medical professionals via video chat and other means.

    However, telemedicine is often limited by federal regulations regarding state lines. A multistate practice model helps address geographic barriers associated with providing services across state lines so that consumers can access medical resources economically and safely.

    Providing telemedicine across state lines will increase reliance on your service and boost your bottom line. Here are 7 reasons to get on board.

    The health care industry is one of the fastest growing sectors of the economy, and is projected to grow to $175 billion by 2026.

    This growth has been fueled in part by advances in technology that allow patients to get care remotely instead of traveling across town or state lines for treatment.

    We can thank, in some part, the covid-19 pandemic. Due to the public health emergency, remote medical appointments and follow-ups became a much larger focus for health care professionals and patients, alike.

    Telemedicine offers many benefits for both individuals and doctors:

    • it allows patients who don’t live near a hospital or physician’s office access to medical attention
    • it helps reduce long waits during busy times when clinics are full; it can help reduce costs by allowing physicians more time with each patient rather than having them rush through appointments due to limited hours spent in their offices
    • most importantly, telemedicine reduces stress on both patients’ bodies and minds

    Some of the most popular states/locations for telemedicine and the use of telehealth include:

    • Alabama
    • Arizona
    • Colorado
    • Connecticut
    • Florida
    • Massachusetts
    • New York
    • North Carolina
    • Texas
    • Washington, DC and the counties surrounding the District of Columbia
    • West Virginia

    Today’s consumers and patients are more connected than ever before.

    Mobile devices have become an integral part of daily life and have changed how we shop, bank, network, and even get health information. The way we seek help about our health and wellness has also evolved.

    As such, consumers’ growing demand for convenient access to medical services is fueling the growth of telemedicine in America.

    In recent years there has been a surge in companies offering telemedicine services across state lines—and some are even promising 24/7 availability via chat or video apps so customers can connect with their physicians at any time they need it.

    Telemedicine makes receiving meds for things like hair loss, erectile dysfunction, PrEP, and preventative reproduction easier.

    You can order them through your smartphone or computer and receive the prescription in the mail with no need to travel to a pharmacy via telehealth visits.

    This makes access certain drugs or types of care less stressful, more convenient, and safer.

    Telemedicine is changing how people get healthcare because it’s convenient and easy to use. Consumers can get birth control and the morning after pill easily with telemedicine, without judgement from a pharmacist or community.

    In a time where reproductive rights are in question, many individuals are either too scared to go in person or no long have access to facilities that can help. Telemedicine bridges that gap.

    They can also receive HIV prevention meds, which is one of the most recommended drugs for sexually active people.

    Many men suffer from some form of ED at some point in their lives. And treating it can be embarrassing. With the help of services like Roman and Hims, correcting ED is easier than ever.

    Mental health services is a growing industry, as well. If you work with psychiatrists then you can combine their talk therapy with medication delivery for a full-service operation.

    A multistate practice model helps address geographic barriers associated with providing telehealth across state lines.

    Telemedicine has the potential to disrupt the health care status quo. For patients, it can increase access and improve outcomes. For state providers, it can reduce costs, improve quality of care and increase revenue.

    Telemedicine offers unique opportunities to bridge geographic barriers by expanding access to care in rural areas or underserved communities where patients may otherwise have difficulty finding a doctor or getting an appointment quickly enough for urgent care needs that don’t warrant an emergency room visit.

    Services can offer remote monitoring and virtual consults easily and effectively.

    For business owners or entrepreneurs looking to get into the healthcare industry, providing a product like hair loss treatment, ED meds, or birth control using virtual consultations with connected physicians is the best way to get into the field.

    What’s better, if you operate the service-side, you can connect with physicians in various states to avoid shelling out for multi-state licensure. You’ll have more physicians on call and less roadblocks while offering a service that covers all 50 states.

    Telemedicine often improves access to care, especially for patients living in rural areas or who are unable to travel.

    Telemedicine is a great way to help people get the care they need when they need it. It is especially useful for people who are unable to travel due to health conditions, or those living in remote areas with limited access to healthcare providers.

    For example, telemedicine allows rural patients in Alaska and Hawaii to connect with doctors thousands of miles away through video conferencing technology. Telemedicine also helps patients who live far away from their primary care doctors or specialists by allowing them to receive treatment remotely at home using secure web-based communications systems that allow physicians and other medical professionals to monitor their condition while providing guidance and prescriptions if necessary.

    Offering telemedicine across state lines isn’t so tricky, depending on your business model.

    Telemedicine providers can offer services across state lines if they meet certain state requirements set forth by each state they serve (which vary).

    These requirements include:

    • licensure requirements within each state where they operate
    • insurance coverage agreements between those states’ respective Departments of Insurance/Health Care Authority (or similar agencies)
    • compliance with all applicable federal and state laws governing interstate commerce such as HIPAA protections pertaining specifically towards electronic health records stored outside one’s home state jurisdiction without prior consent from their local state physicians, or with the Federation of State Medical Boards and the Interstate Medical Licensure Compact

    That’s for physicians and clinicians being certified to practice telemedicine across state lines. As we know, different states have different medical licensing boards and health policies.

    But you, as a business owner, don’t need to meet these requirements. Instead, you can either work with doctors who have met multi-state licensing requirements or you can contract with doctors in each state you want to offer your service in.

    Offering telemedicine across state lines allows consumers to access medical resources economically and safely.

    With the advent of telemedicine, patients have more options for treatment than ever before.

    This is especially helpful for people in rural areas who need access to specialists or those who are traveling and want to see a doctor. Telemedicine can also be used by consumers seeking treatment for minor injuries, as well as those with chronic conditions such as high blood pressure or diabetes.

    Telehealth services are an important part of the future of health care delivery in the United States. According to the U.S. Department of Health and Human Services (HHS), telehealth will play an increasing role in treating chronic diseases such as diabetes and hypertension, which account for about 75 percent of all Americans’ medical expenditures each year.

    The possibilities are truly endless. And as regulatory requirements adjust to our new technologically advanced world, telemedicine will only improve.

    Plus, by accepting medicare and medicaid services, you can provide an affordable, accessible platform for a variety of consumers who benefit from these health insurance waivers/reimbursements.

    Start your interstate telehealth business now.

    It’s best to get into this field now while it’s still growing and relatively un-congested.

    Build your network of physicians, physician assistants, physical therapists, nurses, psychologists, and social workers to use electronic communication technology for diagnosing illnesses, monitoring patients remotely, and prescribe medications electronically through secure videoconferencing systems.

    Start today by getting in touch with our team here at DPN. We’ll help you cover the payments-side of the telemedicine industry so you can focus on building your service and expanding across all 50 states.

  • Talk Therapy Is Booming Right Now — Here’s Your Telehealth “In”

    Talk Therapy Is Booming Right Now — Here’s Your Telehealth “In”

    In these uncertain times, we need to talk.

    While businesses are struggling, the number of people who seek help for their mental health is growing. The crisis has pushed more of us to seek therapy and counseling than ever before through the adoption of telehealth platforms such as Talkspace and BetterHelp.

    As more people realize that there’s no shame in seeking help, the value of what therapists provide will only increase. And getting through their smartphone or computer makes it all the easier to receive (and sell).

    So while the pandemic and economic crash are hurting so many other industries, they may prove to be a boon for this one.

    The importance of mental health, therapy, and wellbeing has increased.

    As the world continues to move forward, people are facing more stress, anxiety, and depression than they have in a long time. And people are more aware of their mental health than ever before.

    What’s great is because of this increased awareness and ability to confront feelings, emotions, events, and so forth, it opens an entire market up to those willing to plunge in and monetize what they can.

    The recession has had a huge impact on the mental health of many people in our society and the need for virtual and in-person care: job insecurity, redundancies, and financial worries leading to stress-related illnesses such as anxiety or depression.

    These conditions can be treated with talk therapy provided by qualified psychologists or other professionals who offer these services at an affordable rate for people who want them.

    Now, maybe you’re a licensed therapist. But I think it’s safe to say you’re more of an entrepreneurial investor/go-getter. So how can you get in on this market?

    The best use of telehealth as a business person include becoming a life coach or developing a platform like TalkSpace.

    The pandemic has given telehealth a boost.

    The adoption of teletherapy has grown in recent years. As people have tightened their belts, they’ve begun to seek out more affordable ways of getting the help they need.

    Teletherapy offers a lower-cost alternative to traditional face-to-face therapy, and one that’s particularly useful for those who live in areas with shortages of mental health professionals or can’t afford to leave work to attend an appointment at their local clinic.

    Teletherapy is especially popular among millennials and those under age 30; according to recent studies, this demographic tends to work longer hours than previous generations did at comparable ages.

    It offers many people an option for receiving treatment without taking time off from their jobs or other commitments. We all know millennials and Gen Z love convenience, and what better way than to offer virtual care (especially for those in rural areas)? Some services can even link to primary care access and book follow-up in-person visits or outpatient visits, which make them all the more convenient.

    Even if you go the life coaching route, you can target folks looking for some type of digital health service without the healthcare part.

    It’s an industry that is growing despite the coronavirus downturn.

    While you may think the coronavirus pandemic would be bad for business, it’s actually having the opposite effect.

    It turns out that people are turning to talk therapy during crises and public health emergencies because they want help dealing with their stress, anxiety and depression. In fact, the use of mental health services have doubled since the start of the pandemic thanks to telehealth visits and telemedicine.

    And telehealth can be covered by medicare, medicaid services, or private healthcare providers. So if you’re not getting paid out of pocket, you’re raking it in through reimbursements from the US healthcare system and health insurance coverage.

    With in increase in patient use, so too has it increased in clinician use. Meaning, the more people want to use teletherapy and subscribe to the service, the more therapists, coaches, and clinicians are available.

    In addition to providing counseling services for individuals and families affected by coronavirus, many therapists have also started offering teletherapy specifically designed for those coping with illness or other issues related directly to living through an outbreak like this one (like having a loved one who died).

    They often encourage clients working through grief over losing someone close due to coronavirus infection—or even just worrying about contracting it themselves—to do so via video chat sessions instead of in person so they can continue working full time during their “wellness breaks” without missing any important deadlines at work or school.”

    And now that Americans are facing even more stress due to the economic collapse, mass shootings, and lack of proper family and health plan services, it’s easier and safer to turn to the internet for help as opposed to in-office visits or physical health centers.

    People want to be understood.

    Talking with a therapist is an investment in yourself.

    When you speak to a professional, you are paying for the recognition that your feelings are valid and normal. Someone is listening to what you have to say and acknowledging that it matters. This can be enormously validating when someone else has never done so before.

    People want to feel understood and validated by others, both in their personal life and at work; and during a recession or times of crisis, consumers are even more ready to shell out for mental help.

    However, the fact of the matter remains: People want to understand themselves better than ever before; they just need reassurance from therapists that this pursuit is not selfish or indulgent but rather necessary for one’s well-being.

    The booming field has become recession-proof.

    As you might have heard, mental health is a priority for people everywhere. The pandemic has made people more aware of the importance of mental health and has proven that teletherapy is a safe business during economic crises.

    In the wake of the Great Recession, many Americans are seeking help for mental health issues. In fact, more people have been seeking therapy than ever before. The mental health industry reached $225 billion in 2019.

    Whether you’re looking to grow your existing practice or start one from scratch, there are many ways to cash in on this growing market:

    • Talk therapy services (like behavioral health and therapy)
    • Telehealth services (like remote patient monitoring and virtual visits)
    • Online telemedicine clinic software (like healthcare delivery for chronic conditions or specialties)
    • Life coaching (like increasing quality of care/life)

    Start your telehealth journey today.

    The covid-19 pandemic has caused a surge in demand for mental health services and left consumers with more flexibility to access them. This means that there’s never been a better time for you to cash in on the opportunity and give the people what they want.

    How you do it is up to you: life coaching, talk therapy platform, or something novel.

    The field continues growing rapidly despite economic downturns—it’s recession-proof—and there is an increased focus on mental health care as technology progresses, which will make this work even more accessible in future years.

    Get started today by knowing how to set up your service, where it’s legal nationally (like New York), and getting your payment backend squared away.

    Contact us ASAP to start your journey.