Marketplace Platforms for Healthcare

Healthcare is a subject everywhere at the moment. The way in which it operates isn’t as easy as it appears at first glance. However, there are models for business that can change even the oldest methods. 

Are marketplace platforms up to the new challenge?

What Is a Marketplace Platform?

Marketplace platforms are quite an enticing segment of the range of services offered and interactions between private experts or businesses and consumers of services fast and easy online transactions.

As per the definition provided the term “online marketplace platforms” is a website for e-commerce that provides information about products or services made available by various third-party suppliers. Marketplaces online are the most common type of multichannel eCommerce and may be a means to simplify the production process.’

In simple terms If you require the platform model for your business, and its objective is to facilitate the exchange of information between buyers and sellers marketplace platforms are an excellent option. However, it’s not restricted to just buying items rentals and auctions, exchanges, negotiations and many other types of interactions are possible.

When traditional e-commerce platforms aren’t equipped with the capability to connect with many vendors, marketplace platforms are about offering a wide range of sellers, buyers suppliers, and simply viewers gathered together to exchange information and transactions with one another.

This model of business is applicable to diverse sectors that have to have to do with vendor and customer relationships. In this article, we’ll dive deeply into the Healthcare sector, which is certainly the leading industry of today. What are the ways that marketplace platforms can help the medical industry and help the sector’s expansion?

Marketplace Platforms in Healthcare: Where to Apply?

It is undisputed that medicine today is a topic that impacts and creates anxiety for every person regardless of their location or social standing, job or age. In the midst of being worried about pandemics and disenchanted by the uncertainty of the world situation, it is easy to overlook regular healthcare-related problems that aren’t going away as the percentage of affected will drop significantly.

The methods we can access essential medical care at an affordable cost will continue to create a lot of interest. Healthcare companies never stop looking for the most efficient methods to provide us with their services, while patients or, more broadly people who use services are more concerned with cost savings, without sacrificing quality or options.

The issue is “Can a marketplace platform model work for the healthcare sector as a tool to eliminate the excessive service complexity and pitfalls, destroy organizational barriers, and achieve much higher client satisfaction with healthcare networking?” Since the world has gotten used to ordering services within a couple of clicks and experiencing no issues afterwards (if it’s of high quality obviously! ) It is time to have the same amount of choices speed, speed, and options in Healthcare and other fields.

Let’s look at the instances where the market model can make basic and difficult scenarios easy.

Health Insurance

Health insurance options for individuals as well as families, groups and corporations are the foundation of people’s health. The first thing that pops into your mind is the exhausting procedure of choosing the right plan of coverage from a range of choices. However, it is essential that health insurance providers comply with the regional reforms to healthcare, e.g., Patient Protection and the Affordable Healthcare law within the US.

A marketplace platform is a key to a private insurance system in which insurers serve as intermediaries between medical organizations and physicians and customers, possessing all information on medical services’ quality, cost range as well as a variety of services that are available. For consumers, there’s no need to find an insurance option on their own software solutions to collect all the information, process requests quickly and streamlines all required transactions.

Telehealth

It appears that the marketplace platforms were designed for telehealth providing health-related information and services made possible by telecommunications. While telemedicine and telehealth (remote health services) are extremely popular in America initially, the current situation clearly illustrates that the future will be entwined with remote possibilities and online health care.

A different reality is people’s busy schedules and the extreme absence of time remote healthcare solutions can meet the challenge. In relation to the specific remote healthcare services that are part of health care telemedicine, here are some which can be carried out through the use of marketplace health platforms Chronic diseases management, preventative healthcare as well as post-hospitalization support. even school-based remote medicine (the innovative option that permits children who are sick to receive urgent medical advice immediately by the institution of their education).

Supply Aggregation

It is time to expand to more services. Healthcare extends beyond diagnosis and treatment. Every physical or mental condition are possible to overcome through first-class medical services (beauty shots and teeth whitening, birthmark removal treatments as well as other procedures that are at the intersection of beauty and health comprised).

With millions of offerings dispersed across various services, what’s the reason to don’t we gather the offers together and present them in a logical and easy manner? This is perhaps the most obvious benefit of marketplace platforms providing users with a simple search engine that is based on the service they want availability, time slots and locations, the rank in service provider’s rankings, price preference and other requirements. Simply sign in to the platform, select the desired service from the menu that you have selected, then identify the search criteria and then look through the results.

Standardized Approach to Interaction 

‘Uber‘ in the Medical Context Everyone is familiar with the Uber strategy First, you plan the trip, then agree to a price and then get information about the driver. This method is suitable with the healthcare marketplace platforms in the context of the well-established price standardization strategy.

You decide on the price limit and have a doctor designated to your. This approach allows simple interactions between medical professionals via an online network, without any shifts in the final decisions. If one wants to obtain the lowest cost feasible, this method serves this goal since it puts a price range to the forefront, thereby connecting two parties once patients have booked the treatment.

Patient-Powered Price Setting Becomes a Reality

Marketplace platforms can help in making complex concepts practical also. For instance, what about altering the traditional method of pricing and letting customers decide what they’re willing to pay for a beauty or medical procedure?

This was one of the projects that the Emer line team participated with We created an online portal that lets users submit requests for a beauty, health or dental procedure, selecting the price they’re willing to pay as well as the maximum distances to a provider that they are able to cover.

Another function within the portal is that of a physician or medical center that is registered in the system, and capable of providing the desired service, is notified of the request and agrees in the event that they are happy with the cost.

In simple terms the system functions as an auction site — it’s up to the hospital or individual doctors to decide if they want to reach an agreement on the price.

When we implemented a web-based system, we implemented the mobile platform into use due to an urgent need for marketplace platforms institutions to be able to immediately take in requests from customers and respond in real-time.

In line with the flow of the website our team has adapted the mobile-friendly interaction:

Push notifications allow physicians to see the most up-to-date picture of the request and quickly respond to requests of customers as well as price expectations.

Stripe and Twilio for the easy authorization using SMS was used capture information about credit card transactions securely;

Tips and overlays that were displayed above the buttons or images directed customers of the mobile application on the way to process or fill out requests. It’s pretty simple for both of us!

From a business standpoint the marketplace platform for healthcare both on mobile and web is a more democratic way of providing healthcare customers ‘place their own choices’, and hospitals can accept the price as long as they consider it profitable from a commercial perspective, making sure that there are no interruptions in their schedule of service.

Bottom Line

In terms of doctor-patient relationship, the marketplace platform model provides a myriad of options. As online and remote channels are becoming a regular element of our lives (sometimes it’s a necessity rather than an alternative) the importance of marketplace platforms is growing stronger.

How do you integrate marketplace platforms into health and insurance systems to reap maximum advantages? What are the options to address organizational challenges in the field of healthcare? How can we ensure maximum transparency and transparency between marketplace platforms providers and the way of an integrated platform?

We’re always available to address these and other inquiries as well as transform an idea into a solution for smart healthcare to tackle a range of issues.