As an entrepreneur, you may be constantly finding ideas on how to make profitable businesses. Some business models work throughout the course of time, some businesses gain traction in the beginning and lose its ground, and some seem to have no chance at all?

Here are some of the interesting statistics about startups and small businesses:

• 75% of venture-backed startups fail within the first 10 years.
• One of the most common reasons for startup failure is lack of demand, mismanagement of resources, and lack of motivation or passion.
• The startups that succeed have a strong commitment to their business and have a sharp focus and direction.

Introducing SingleCare

If you are someone who is interested in the healthcare business, you may probably be looking at many options–whether you should start from scratch, buy a franchise, or become a partner of a larger business.

SingleCare is a healthcare discounts company which has an excellent business model. They are not only connecting to consumers, they are also connecting to other businesses in the healthcare industry.

To help us understand more about SingleCare’s business model, we will take a look at how this healthcare discounts company works, and what is making them continuously thrive.

How the SingleCare Business Model Works and What Business Owners Can Learn From Them

1. SingleCare focuses on an immediate need

When we talk about basic needs, what do people usually think about? It’s not the luxury items or the things related to entertainment. These are things that people can do away with.

One of the most priority need is healthcare. We all need healthcare at one point in our lives. If you acquired a condition, got sick or hospitalized at some point, you needed healthcare services to make you feel better. This is not something that easily goes away–in fact, it is unlikely that the healthcare sector will ever go away. It is a constant need, and people will always prioritize it with their demands.

This is what SingleCare focused on. By understanding what people really need, they were able to pool in a large market that’s exponentially growing by the numbers.

2. SingleCare makes things easier for consumers to access their products and services

Another value that SingleCare provided is allowing consumers to access products and services at an affordable price. Some patients are scared to go to clinics and hospitals because they will be facing a bill that they cannot pay.

Some people do not have the right insurance to pay for medical expenses, and on some occasions, there are the people that need healthcare the most. By making use of SingleCare’s prescription medicine discounts, people are able to access what they need for a cheaper price. Additionally, patients can also consult a doctor for a fraction of a cost compared to going to a private clinic.

3. SingleCare gives opportunitines for businesses to promote their products

SingleCare solved the situation in a two=pronged manner. They were able to give service to consumers, but they were also able to provide something of value to businesses.

Some pharmacies do not have access to larger markets. These are small businesses within the community which may be in need of more customers but do not have the means to do so. By partnering with SingleCare, they are able to find people who can buy the products that they offer, thanks to the discount coupons. If people are looking for, let’s say, a drug called Linzess, they can easily look for a Linzess Price in the website. They will be able to find a Linzess price that suits their budget on pharmacies close to them.

The same value can be said for the dental clinics, vision clinics, and health practitioners who offer their discounted services in SingleCare.

4. SingleCare makes use of technology to apply in their systems

Another great thing about SingleCare is their implementation of technology to make things work for their stakeholders.

You do not have to purchase booklets to cut out coupons and browse endlessly for ones which are a fit for you. All you have to do is enter the name of the drug in the search bar, and SingleCare will find the closest pharmacy which can offer your prescription.

Additionally, the video doctor visits also provide convenience for both health professionals and patients. It solves the problem of waiting times and allows people to access health services anywhere and anytime.

Whether you are a startup company, or someone who already has a stable business, you can learn a lot from SingleCare’s business model. When a business fulfills a need, gives value, and provides solutions through technological advances, it is sure to thrive for the years to come.