The telehealth market hit a staggering $87 billion in 2022 and experts project it to reach $286 billion by 2027.

These numbers tell a bigger story—they show an amazing chance for entrepreneurs. Recent data reveals that 37% of adults used telemedicine services last year, and 73% plan to continue or increase their usage. Quality telehealth platforms are in high demand.

We at Bask Health have seen how telehealth changes healthcare delivery. Our data shows that telehealth visits save $147 to $186 per consultation through lower travel costs and boosted productivity. Entrepreneurs can build profitable businesses and solve real-life healthcare challenges.

Building a telehealth platform takes careful planning and smart execution. You'll need $70,000 to $100,000 to start, but the returns can be substantial with the right strategy. In this piece, we'll show you everything about building a successful telehealth platform—from market analysis to launch and beyond.

Key Takeaways

• Booming Market: The telehealth market is projected to grow from $87B in 2022 to $286B by 2027, creating massive opportunities.
• High Demand: 73% of adults plan to continue or increase telemedicine use, indicating strong future growth.
• Profitable Model: Startups need $ 70K-$100K to launch, with significant revenue potential through strategic pricing.
• Business Opportunities: Virtual urgent care, remote monitoring, specialty services, and hospital partnerships are key growth areas.
• Target Audience Matters: Understanding demographics and accessibility needs ensures user adoption.
• Infrastructure & Tech: HIPAA-compliant platforms, secure data storage, and reliable video conferencing are essential.
• Legal & Compliance: Adhering to HIPAA, state regulations, and insurance policies ensures smooth operations.
• Marketing & Growth: SEO, social media, and patient engagement drive acquisition and retention.
• Provider Onboarding: Efficient credentialing and training improve provider satisfaction and retention.
• Future Outlook: Telehealth’s cost savings ($147-$186 per consultation) and digital evolution ensure long-term success.

Understanding the Telehealth Market

Our team at Bask Health has watched the telehealth market reach new heights. The global telehealth market, valued at $101.15 billion in 2023, will grow at a remarkable CAGR of 24.3% through 2030. North America leads this digital world with a 47.98% market share.

Current Market Size and Growth

We noticed the market grows mainly because of widespread smartphone use, higher investments, and better internet connectivity. Telehealth use varies across regions. The West and Midwest saw 9.5% increases, while the Northeast rose by 3.2% and the South by 6.7%.

The investment numbers tell an interesting story. Virtual care attracted $24 billion in 2020, and average deal sizes jumped from $31.70 million to $45.90 million in 2021. The top 60 telehealth providers saw their revenue climb from $3 billion in 2019 to $5.50 billion in 2020.

Key Business Opportunities

Bask Health sees several promising areas for entrepreneurs in telehealth:

• Virtual Urgent Care: Digital solutions meet after-hours care needs
• Hybrid Virtual Office Visits: Virtual consultations work with local testing sites
• Remote Patient Monitoring: Wearable technology enables continuous care
• Hospital Partnerships: Better post-discharge communications
• Specialty Care Services: Solutions for mental health, radiology, and chronic care management

About 85% of hospitals and private clinics want to invest in telemedicine, and 84% want to expand their reach. The integration of artificial intelligence and machine learning algorithms makes services more personal.

McKinsey believes $250 billion of current US healthcare spending could become virtual. Patients support this change—70% say they would rather see doctors virtually. This creates an amazing chance for entrepreneurs to enter a market where people just need more solutions than what's available.

Planning Your Telehealth Business

Bask Health knows that successful telehealth platforms need careful planning. Our experience shows that startups fail because they lack proper market research and have flawed business models.

Choosing Your Target Audience

Your audience needs a detailed analysis from multiple angles. We suggest you examine demographics, psychographics, and behavior patterns. For example, professionals between 30 and 45 years old prefer healthcare they can access on the move. Parents with young children want pediatric services, while millennials care more about wellness and prevention.

It is vital to make your platform accessible. Users have different tech skills and abilities, so your platform should work for everyone. This means adding features like voice navigation that helps elderly users and simple interfaces for people who aren't tech-savvy.

Defining Service Offerings

The market just needs certain services more than others. Remote monitoring devices, like wearable sensors and home health kits, let doctors provide continuous care. Your platform should include features such as:

• Virtual consultations for primary care
• Remote patient monitoring systems
• Mental health services
• Chronic disease management
• Medication management
• Secure messaging for health updates

Setting Pricing Models

Flexible pricing makes all the difference. Bask Health has seen many pricing models work well. Monthly subscriptions cost between $25 and $300, based on service scope and users. Pay-per-visit works better for occasional users.

The simple telehealth implementation costs between $15,000 and $50,000. Custom platform development might cost $100,000 to $250,000. These investments are nowhere near small but improve operational efficiency significantly.

Your revenue strategy should include multiple pricing tiers:

• Basic plans start at $14 monthly for essential services
• Premium packages range from $29 to $599 monthly for detailed care
• Advanced solutions cost $350+ monthly with enterprise-level features

Data migration, training, and maintenance costs affect your pricing structure. Strategic pricing and careful planning will help your telehealth platform become profitable while staying accessible.

Building Essential Infrastructure

A strong infrastructure is the life-blood of any successful telehealth platform. We at Bask Health found that long-term success depends on a well-planned technical foundation and the right team structure.

Technology Requirements

A reliable telehealth platform needs several critical components. A stable high-speed internet connection with minimum speeds of 15Mbps download and 5Mbps upload will give a smooth video consultation experience.

The core technical infrastructure has:

• High-bandwidth network connectivity with 24/7 monitoring
• HIPAA-compliant software platforms with encryption and multi-factor authentication
• Secure data storage systems with disaster recovery protocols
• Video conferencing equipment with high-quality audio-visual capabilities
• Digital diagnostic tools and peripherals for remote patient monitoring

The platform must combine smoothly with Electronic Health Records (EHR) and patient management systems. Round-the-clock technical support helps maintain smooth operations and quick problem resolution.

Team Structure

Our experience at Bask Health proves that a well-laid-out team drives telehealth success. The organizational framework harmoniously integrates several key roles.

The core team has clinical representatives, administration staff, IT security experts, and project managers. These professionals work alongside high-level decision-makers who approve key decisions and control the budget.

These roles are essential during implementation:

• Program Leader (Telehealth Champion) overseeing strategic direction
• Clinical Manager coordinating healthcare delivery
• Technical Support Staff providing 24/7 assistance
• Care Managers serve as the first point of contact
• Device Manager overseeing equipment deployment

The staffing ratio has evolved. Each team member supports 30-40 visits per day, and together they handle 400-500 visits daily. This structure makes service delivery efficient while maintaining quality care standards.

The implementation team needs dedicated staff for patient technical assistance and administrative personnel to manage scheduling. A proper infrastructure and team composition help your telehealth platform deliver consistent, high-quality healthcare services while staying operationally efficient.

Ensuring Legal Compliance

Legal requirements are the foundations of any successful telehealth platform. Bask Health ensures we follow all regulations that keep providers and patients safe.

HIPAA Requirements

Telehealth technology must follow HIPAA rules. The HIPAA Security Rule requires these key safeguards:

• Administrative measures like regular password changes and written security policies
• Physical safeguards with locked offices and secured confidential spaces
• Technical protections using encryption and authorized access controls
• Business Associate Agreements (BAA) with all technology vendors

Covered entities must also protect electronic Protected Health Information (ePHI) with ongoing monitoring and secure transmission channels.

State Regulations

Each state has its own rules that create unique challenges for telehealth platforms. Right now, forty-one states and the District of Columbia mandate coverage parity, which means private insurers must cover telehealth just like in-person care.

Healthcare providers need to pay close attention when practicing across states. Most states are part of the Interstate Medical Licensure Compact (IMLC), which makes it easier for healthcare practitioners to get licensed for telehealth services in multiple states. Physicians still need to get official medical licenses from states where their patients live, unless special provisions apply.

These different requirements mean providers must:

• Build clinician-patient relationships through proper medical evaluations
• Document informed consent verbally or in writing
• Keep detailed patient records just like they would for in-person visits

Insurance Considerations

The right insurance coverage protects against specific telehealth risks. Key policies include professional liability insurance for negligence claims and cyber liability coverage for data breaches.

Our work at Bask Health shows that telehealth providers need insurance that covers:

• Professional liability for specialized medical advice
• Cyber security breaches and data loss
• Technology errors that affect service delivery
• General liability for basic business risks

Twenty-two states now require private insurers to pay providers the same amount for telehealth as in-person care. Providers should check their coverage with insurance companies and verify their policy works in all locations where they plan to offer services.

Launching Your Platform

Platform launches need careful attention to marketing, patient engagement, and provider integration. Our experience at Bask Health has helped us refine these vital elements to ensure eco-friendly growth.

Marketing Strategies

Digital presence powers telehealth success. Our research shows that 72% of patients express interest in continuing telehealth services. We implement a multi-channel marketing approach to capitalize on this trend:

• Search engine optimization for symptom-related queries
• Targeted paid advertising campaigns
• Social media engagement and patient testimonials
• Educational content development
• Email marketing for patient retention
• Reputation management through review monitoring

Trust builds through transparency in messaging. Our data shows that highlighting security measures and HIPAA compliance substantially influences patient decisions. We create educational content that addresses common patient concerns about virtual care accessibility.

Patient Acquisition

A systematic approach combined with continuous feedback integration drives patient acquisition. Our new approach to collecting and analyzing digital feedback works better, as patients complete surveys faster and provide more detailed insights.

We track these key metrics to optimize patient acquisition:

• Patient satisfaction rates (currently maintaining 94%)
• Technical issue frequency
• Provider response times
• Treatment outcome effectiveness
• Platform usability scores

Patient acquisition succeeds when it addresses specific healthcare needs. Our targeted campaigns showcase virtual care benefits, which led to a 70% increase in consultation bookings. Customized patient experiences for different demographics have resulted in higher engagement rates.

Provider Onboarding

Provider onboarding is a vital phase in platform launch. Our credentialing team stays in close contact with clinicians to ensure quick documentation retrieval and process completion. This approach has achieved 96% on-time start dates for new providers.

The onboarding process covers these key elements:

1. Technical orientation and system familiarization
2. EMR integration and workflow training
3. Crisis protocol review
4. Emergency response procedures
5. Data entry standardization

Practice Managers oversee the entire onboarding experience and provide 24/7 IT support to ensure providers have resources. This complete support system helps maintain high provider satisfaction and retention rates.

Automated workflows have reduced traditional credentialing timeframes from months to weeks. This improvement helps providers who need licensing in multiple states to serve a broader patient base.

Conclusion

Bask Health's journey has shown us how telehealth evolved from a new technology into an essential healthcare delivery model. The market shows tremendous growth potential, which makes this an ideal time for entrepreneurs to venture into the telehealth space.

A successful telehealth venture needs attention to key elements. A resilient infrastructure with HIPAA-compliant systems and qualified healthcare professionals forms the foundation. Legal compliance and proper insurance coverage protect providers and patients across state lines. It also needs focused marketing and efficient provider onboarding to drive platform growth.

Our data shows that telehealth platforms save between $147 to $186 per consultation while delivering quality care. These cost advantages, combined with patients' growing preference for virtual care, create opportunities for lasting business growth.

Building a profitable telehealth platform needs commitment, smart planning, and quick adaptation to market changes. Your success depends on solid market research, strong security measures, and value delivery to patients and providers. Healthcare continues to become more digital, and well-planned telehealth platforms will shape this evolution.

References

1. Cleveroad. Cost of telehealth implementation: A comprehensive guide. Cleveroad Blog. https://www.cleveroad.com/blog/cost-of-telehealth-implementation/. Accessed February 13, 2025.
2. National Conference of State Legislatures (NCSL). Telehealth private insurance laws: An overview. NCSL Health Policy. https://www.ncsl.org/health/the-telehealth-explainer-series/telehealth-private-insurance-laws. Accessed February 13, 2025.
3. Iris Telehealth. How to onboard virtual providers seamlessly into your care team. Iris Telehealth Blog. https://iristelehealth.com/blog/how-to-onboard-virtual-providers-seamlessly-into-your-care-team/. Accessed February 13, 2025.
4. Telehealth.org. 2024 year-end digital health startups overview: $10.1 Braised across 497 deals. Telehealth.org News. https://telehealth.org/2024-year-end-digital-health-startups-overview-10-1b-raised-across-497-deals/. Accessed February 13, 2025.