My First Million
The best business ideas come from noticing what's working and doing it better, faster, or for a different audience.
Mass Adoption of Telemedicine
Timeframe: Already mainstream, will continue growing for 5+ years as regulations catch up and technology improves
What's Changing
Telemedicine usage jumped from 10% to 80% of population in 2 years due to COVID. People now comfortable getting medical advice and therapy via phone/video.
Driving Forces
COVID forcing remote medical experiences
Regulatory changes allowing digital therapy
Consumer comfort with video calls
Cost savings vs in-person visits
Convenience and accessibility benefits
Winners
- Digital therapy and mental health apps
- Remote monitoring device companies
- Telemedicine platform providers
- Companies offering specialized remote care
- Digital therapeutics with FDA approval
Losers
- Traditional in-person only therapy practices
- Physical urgent care centers for minor issues
- Companies requiring in-person medical consultations
- Legacy healthcare software not built for remote
How to Position Yourself
Emphasize convenience and accessibility over cost
Partner with licensed medical professionals for credibility
Focus on outcomes that match or exceed in-person care
Build regulatory compliance from day one
Target conditions that work well remotely
Early Signals to Watch
Example Implementation
“Mental health app launches with licensed therapists offering cognitive behavioral therapy sessions via video, emphasizing that users already comfortable with telemedicine will try therapy they previously avoided due to stigma of in-person visits.”