Femtech in Healthcare: How to make it effective

As we move forward, the Western world’s medicine becomes more specialized and narrowly focused, adapting to the personal needs of almost every patient. Such an ambitious goal requires new and more advanced technologies.

What is the Meaning of FemTech?

For example, FemTech is responsible for meeting women’s healthcare needs. This term is not new: it appeared back in 2016 when Ida Tin, the CEO of the period-tracking app Clue, came up with the idea of marking the trend of a surge in FemTech startups that provide services at the intersection of technology and women’s health.

Essentially, FemTech is about solving health and other biological needs through technology.

However, FemTech has begun to gain popularity now. The term falls under the  categories of:

  • Products
  • Services
  • Software
  • Apps

HOW TO INTEGRATE YOUR HEALTH APP WITH EPIC EHR/EMR

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The only condition is that they specialize in women’s health (reproductive, menstrual, sexual, pelvic floor, vaginal, oncological, bone, brain, autoimmune, heart, mental health, and even migraines). Recently, FemTech has been looked at even more broadly – as a specialization in any factor that somehow improves a woman’s life.

For example, gender has come to be recognized as a social determinant of mental health in the United States since it is widely known that women suffer from depression about twice as much as men. Physiological diseases also affect women in 80 or even 90% of cases. Also, illnesses that occur differently in women than in men (like osteoporosis). We can discuss specialized care specifically for women’s health in such cases.

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FemTech companies deal with solutions specifically designed to address women’s health issues, not just products that have been rebranded or repositioned. These may include:

  • Wearable tracking devices (bracelets, rings, patches, etc.)
  • Any solutions related to artificial intelligence
  • Applications and non-invasive equipment
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The FemTech Revolution

The surge in FemTech popularity coincided with COVID-19. At that time, both patients and medical institutions themselves were forced to get to grips with digital technologies, even if they had previously made do only with offline services.

According to a study by Medi-Tech Insights, in December 2021, the global femtechnology market was estimated at $22 billion. Over the next five years it will grow by 15%. And a new Global Market Insights research report predicts that the FemTech market value will exceed $48.5 billion by 2025 and $65 billion by 2027. Statista shows even more blushing investment expectations:

fem-digital-health-market-potential

Why Should Femtech Companies Protect Data?

It’s very important to keep data confidential when developing any FemTech solution. Health data is a sensitive topic in itself. But what if a woman’s personal data about her menstrual cycle, sexual activity, contraception, or even abortion were hacked? Such data could be used by states where abortion is illegal to hold a woman legally responsible.

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Note that this is not just a matter of software or app technology vulnerability, but also a breach of the privacy policy. So, the first thing FemTech companies should do is inform users what data they plan to collect and what they intend to do with it.

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The Future of FemTech and Women’s Health in General

The increasing spread of chronic diseases and the growing prevalence of unhealthy lifestyles and diets will increase the burden of disease, thus contributing to the growth of the FemTech industry. In addition, the increasing prevalence of infectious diseases among women in low-income countries due to unsanitary conditions will stimulate business growth.

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Distribution of FemTech companies worldwide in 2022:

femtech-market-represent-by-continents

It’s not unusual for first-world countries to be on the front lines of general health conditions. But it’s not all bad for other continents, either.

The market outlook for FemTech looks promising. Currently, most FemTech companies are focused on fertility, pregnancy, and maternal health, however that scenario should change in the next 5 to 10 years. New and prospective areas such as longevity, menopause, sex technology, and breastfeeding are expected to grow rapidly in the coming years.

CASE STUDIES:

Calmerry Online Therapy Platform

Orb Health – Сare Management As A Virtual Service

BuenoPR – 360° Approach to Health

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Why is FemTech Important?

Right now, the world’s population is 8 billion people. About 3.9 billion of them are women. Isn’t such a huge target audience the most obvious fact that proves we need specialized women’s health solutions? Unfortunately, not every woman on the planet has access to femtechnologies. Therefore, this may be an additional incentive to develop your FemTech products in the direction of those the digitalization process has not yet reached.

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Promoting FemTech health services:

  • Improves healthcare delivery (e.g., through online appointments, remote surgeries, etc.)
  • Enables better monitoring of one’s health (tracking of various indicators in the body will immediately signal to the woman when something is wrong, which means she will seek help faster)
  • Reduces the problem of gender inequality in technology (it gives an additional opportunity for female engineers and scientists to prove themselves)
  • Solves the stigmatized problems (women no longer have to hide their physiological issues from men, which also allows them to solve problems faster if they arise)
  • Provides culturally sensitive and individualized solutions to more women (LGBT community, black population, low-income segments of society)
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Conclusions

Even though women make up half the global population, and despite the estimated $500 billion annual medical expenses attributed to women, only 4% of all healthcare research and development is targeted at women’s health issues specifically, according to PitchBook.

Perhaps your product can be a go-to tool for a particular group of women from whom you can derive income and the moral satisfaction of grateful feedback.

THE APP SOLUTIONS – CUSTOM HEALTHCARE SOFTWARE DEVELOPMENT COMPANY

If you have some idea or project with a FemTech focus that you would like to pursue, we can help with that. The APP Solutions has significant expertise in healthcare services. This means we can not only implement the project, but also bring it to perfection. We are always aimed at long-term, mutually convenient cooperation in making your product unique and in demand.

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How to Create a Cost-Effective App for Your Business

The question “Why do you need an app for your business?” is beyond consideration. The answer is quite obvious — in the majority of cases, it is not a commodity, but a necessity. The main question is the cost-efficiency of your project.

A fine-tuned application can seriously improve your customer service and transcend it to a completely new level. Among other benefits of developing your own web or mobile app are:

  • Further establishment of the brand — increasing visibility and recognition of your company’s brand online;
  • Providing more value to the customers thus increasing their engagement and forming brand loyalty;
  • Another channel for marketing and communication with the customer.

However, there is one thing that makes it all a little bit complicated. Technically speaking, you can develop almost anything (the sky isn’t even the limit), but you need to think how much will the development cost and what will you get out of it.

That is a major stumbling block for many companies. They might be able to afford and market an app to the public, but it won’t bring the profits or results they want.

Over the years we have developed a lot of various apps for different types of business. And we have a couple of tips that can help you to make an app cost-effective.

Why does cost-effectiveness matter? 

Buzzword term “Cost-Effective” indicates a ratio defined in comparison of relative production costs and approximate outcomes based on a variety of scenarios. It might sound a little complicated but basically, it is how much you invest into the thing in order to attain certain results and whether it is justified by any means.

Keeping the balance between these two elements is one of the cornerstones of a successful business operation. In terms of applications, it means how competent and reasonable is the use of the application and how many and which benefits it brings to the table.

The cost-effective analysis estimates the pros and cons of the chosen model. It is a relatively simple way of determining whether the production costs and overall effort is worth trying or is there any element that needs to be improved or reconsidered.

However, cost-effectiveness is a fluid thing. The thing can be cost-effective at one moment and then it can turn into a lacking woe. In order to keep the balance, one needs to be cautious about the application’s performance all the time.

So what elements contribute to cost-effectiveness? 

Clearly-Defined, Distinct Purpose of an App

In the heart of every application lies a certain intention. But this intention is just that without proper surroundings. You can’t make an app from an elevator logline pitch — it doesn’t work that way.

The first step in making your app cost-effective is clearly defining the app’s purpose and functions.

It is the very beginning of the project where the future is set. You need to ask yourself the following questions:

  • Why does my business need a specific application?
  • What is this app supposed to do?
  • Why should users care about it?

While these questions are rather obvious — their answers define the future of an application and save a lot of time and money. These answers shape requirements specifications, i.e. the blueprint of an app.  

Vaguely described requirements specifications are one of the biggest sources of money wasting in the development process. Lack of focused vision can make a lot of setbacks down the road.

And you can avoid most of them by thoroughly describing every single element of an app to a tee — completely ambiguous and to the point. It goes all the way to the model of cooperation with the developer. Sometimes you just need a pair of hand while in other cases you need a dedicated team.

Avoid Feature Creep

Checked the box for the app’s purpose? Make sure that feature is working as it should and focus on that one thing. 

Everything else, while not being a total waste, would stand in the way. 

For example, think of an email program. Its main purpose is to send and receive emails. There might be additional things that help that central idea, but resist the temptation to put EVERYTHING in one app. (For example, games.)

Why? There are thousands upon thousands of various applications in the app stores and you can’t compete with all of them — it is counterproductive.

If you stretch too thin, an app will be an utterly pointless hodgepodge of dissonant moving parts — as the saying goes “jack of all trades, master of none”. That’s bad for business and, once again, not cost-effective.

On the other hand, it is also detrimental to the development process. Not only the addition of a new feature requires time, but it also disrupts the existing architecture of an app and requires additional refurbishing in order to fit it in without breaking anything. It takes time and with that goes a hefty sum of money (which, in turn, makes it harder for an app to break even.)

Upon considering a set of functions for an application, you need to keep in mind one important concept — brevity. Keep it to the point.

However, it is easier said than done, because in the heat of the moment you might want to add one more thing “because why not?” As the one who pays for music, you can impose the decision on the team. That is one of the biggest temptations that might come while developing an application.

In order to avoid that, keep it focused by asking the following questions:

  • Is this feature directly connected to the purpose of an app?
  • Is it necessary to the basic operation of an app?

If not, which is almost always the case, put it on the shelf and don’t quake the air.  

Basically, you need to keep an app as streamlined as possible and avoid anything that is not essential to its functioning.

Develop Customer Engagement Strategy

Active users are the main goal of any product. Without them, your website or app is worth nothing. Customer engagement is one of the definitive factors in keeping an application cost-effective. However, one can’t just launch an application and expect that everyone will jump on board just because you’re cool as ice.

Nope! The reality of the situation is different.

Even if your brand is well-established and your target audience has some level of brand loyalty — you still need to convince them to download your application. Why? Because there are many other applications and functions of some of them overlap with yours. You need to engage customers.

Basically, you need to ensure by all means that your application is beneficial to the customers and thus it will be beneficial to the company. In order to pull this off — look at the things from the customer’s point of view. Answer the following questions:

  • Why should I care?
  • Is this app better than the others? How exactly?

The reasoning may be different but the overall set message must incite consideration. You need persuasive arguments that this particular app will solve this particular problem and satisfy this particular need. That’s it for the starting point.

Then you need to maintain customer engagement throughout the application lifecycle. Even the best most refined app eventually gets old and you need to reaffirm the value of an app once in a while.

Think about various ways of expanding or improving various features, streamlining design, adding new optional features, seasonal updates, different levels of service (basic app, premium app), and so on.

Start with an MVP

Minimal Viable Product aka MVP is one of the most effective ways of determining strong and weak points of an application in the wild, i.e real market situation. It is a kind of battlefield weapon testing.

Basically, what you have is a basic barebones product ready to rumble. You drop it in the jungle and see what happens.

At this stage, it is not as much about making it an instant success as a means to observe the customer reaction, collect feedback, and determine which elements need to be improved. All this in the long run help to increase the cost-effective ratio in a significant way.

MVP is also a nice chance to determine which marketing approach is clicking with a target audience based on the basic elements of the application. While it can’t show how to turn the whole strategy — it gives a solid sense of what direction should be taken in order to get the app off the ground.

Be Sensitive to Criticism

No one likes being criticized. Sometimes it can be woefully unfair and unapologetically blatant. Nevertheless, there are also situations when criticism can help to improve some lacking points and make an overall thing better than it was.

The reason for that is simple, fresh head outside of context. It is absolutely different perspective and as such it helps to see the big picture clearer.

In the context of the business app, it is a bit tricky.

On one hand, you can’t afford to put a half-baked application in the App Store by no means — it will result in serious reputation losses that in the worst-case scenario can derail your entire business operation. But on the other hand, some glitches and bugs just slip through the cracks no matter what. They just happen. And when someone points out at them — it is always a good thing.

Another reason why being sensitive to criticism may end helping you making an app cost-effective is a plain and simple refinement of the features. It is one thing when developers are trying out an app — it is a completely different level when users leave their feedback regarding certain elements of the user interface and user experience that can be fixed or merely cleaned up.

These are five strategies that can help you make your app for business cost-effective and user engaging from the very start.

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Top 9 Reasons Why Your Business Needs Its Own Mobile App

If, in your opinion, mobile applications are exclusively for worldwide corporations and big-name brands such as Bank of America or Walmart, you’re totally mistaken. Nowadays, more and more midsize, and even small, companies are following mobile application development trends. Market conditions make the businesses think that an efficient mobile strategy requires more than just a user-friendly website.

Today you can mark that the biggest part of small companies you cooperate with in your day-to-day routine and have their personal mobile application. Be it a beauty salon downtown or a cozy corner coffee shop. These businesses hold leading positions in a particular field when it comes to getting their marketing strategy to the next level.

If you’re still confused about why building your own mobile platforms for business became so popular, here’re TOP 9 benefits of joining this club sooner rather than later.

1. Be visible to the clients constantly

Recent statistics say that the average American spends more than 2 hours using his/ her mobile device every day. In fact, only a handful of all mobile apps constitutes the main part of total usage. On the other hand, to find the application the user is looking for, he/she still needs to unlock, scroll, and glance over the device.

As humans mind record unconsciously every text, image, or catchy app icon, such simple scrolling down and up can be an advantage for your business. It works – even if this process happens unnoticed.

2. It provides you with a more direct connection

It’s simple. The application always displays on the device desktop. Moreover, in contrast with the website, the app can be opened with one easy tap. To find your page in the net, the user needs to open the browser and find the appropriate URL to bookmark it.

READ ALSO: How much does it cost to develop an app

The app makes it much easier for clients to leave feedback or call you. Furthermore, all negative comments left on the site are visible to everyone. What about negative feedbacks submitted with the help of an app, they give you a chance to deal with client dissatisfaction before his/her opinion goes public.

3. Connect with on-the-go clients

The smartphone is one of the most personal technology tools we can have. Sometimes we keep it close to ourselves twenty-four hours a day, seven days a week. Statistics show that approximately 80% of the time spent on the phone is spent using applications.

4. Create a useful marketing channel

An application wears many hats: it can give general information about your company, show prices, provide users with booking forms, personal accounts, search features, news feeds, messengers, etc. And, what is the biggest benefit of creating an app, all this info is right at clients’ fingertips. With the help of push notifications, you have an opportunity to advance even closer to direct cooperation by reminding customers about your special sales, new products, and services.

5. Show customers that you appreciate them

When it comes to on-hand data and digitalization, in place of old-fashioned point-collection cards, provide your clients with the possibility to collect loyalty program bonuses via the mobile app. The result won’t take long, and you’ll get more downloads and more regular clients.

6. Increase your brand recognition

A device application for your company can contribute to your brand recognition. A created app is like a billboard sign: you can do with it everything that you want. You have all the needed tools to make it functional, user-friendly, stylish, and informative. But what your primary goal should be is to build an application that has all the necessary features your client will love. At the same time, it has to be well-designed and branded.

The more often users get involved with your application, the sooner they will decide to order your service. It’s called “effective frequency” in the advertising field: hearing and seeing your business brand about 20 times is what will get you really notable.

7. Improve your connection with clients

All the same, whether you’re selling a spa service or flowers, your customers need a resource to reach you without effort. Having a help desk or messenger in the application can change the way you communicate with the clients. For example, if you create a mobile app for your restaurant, the users have a chance to book the table with 5 clicks on your platform. No doubt, instead of phone connection the majority will choose communication via text. Building your business model around this principle – your key to success.

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8. Win the market competition

It’s hard to believe, but today device applications at the small business level are still infrequent. Because of this, you can stay one jump ahead of your competitors. Be one of the first in your area to offer an application to your clients. Be sure, they’ll be amazed by your wise and farsighted approach.

9. Cultivate loyalty of customers

One more significant reason to create your own mobile application is customer loyalty. With all this information noise around like billboards, roadside banners, magazines ads, flashing signs, coupons, flyers, website banners, email marketing, and Facebook advertising we, as businessmen, slowly lose our influence on clients because there is a huge amount of commercial on every corner. On the other hand, it’s an auspicious time to make a true connection with customers. It leads them to become loyal users of your service.

And last, but not least, I don’t mean that a device application will save your company. However, it can be an excellent tool that helps you stay close to the users and be a “fingertip” away all along. I hope, with all these weighty reasons, you’ll look at your phone as a perspective for successful business management and effective client experience.

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What Does Mobile Success Really Look Like

With almost every aspect of our lives turning to the small screen to set up inventive presence, success in the field is taking on numerous new implications, understandings, and interpretations.

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But, how is it possible that mobile app developers are making record profits while, at the same time, the number of free apps on the market continues to grow? The answer’s simple. Most app developers don’t make very much money.

But when we are talking about startup beginners, they are considering themselves as extremely ambitious personalities on their first steps in this field. My tip is to layout your startup on the business model canvas first.

This is what business people naturally do, and a unique idea will take more time to be developed into something tangible, something that will have definite value for future users.

So, what does success look like in the mobile space? Sadly, there’s no distinct answer. Above all else, it depends on who’s inquiring. In case, you’re a startup, displaying a new application or a worldwide brand hoping to build up an overwhelming mobile presence. Your goals will be distinctive, and as a direct result, so will your meaning of success.

Though years, prior speculators looked for after applications with a substantial client volume and neglected those with a moderately little after, today’s existence is an alternate story. Industry insiders know the force of an in number client base, paying little respect to its volume – a dynamic group with intriguing practices and examples demonstrates that the item is promising. Engagement is critical, not the amount.

It’s all about realizing what your product requires. It is a picture of the product, and how the startup will function. You can figure out your ways of mobile application monetization, the value of the product, the target audience,  and the value of the product,  to exude it during marketing campaigns.

Or there is another view, if your product is a transportation application, it doesn’t help when clients download your application but don’t book rides. A quality client for you would mean one that connects into their credit card information and orders a cab. That’s what success looks like for you.

The main truth is that for apps, tons of installations may not be as successful as the numbers lead people to persuade. A strong base of users who are dynamic, contribute to the community, and make in-app purchases, ought to be your main purpose, and harnessing more of those users is your new understanding of mobile prosperity.

But then again, if you’re a traditional, non-digital brand, your definition of success and achieving goals may differ. It shouldn’t be a challenge for you to make a name in the marketing field when you have already a consumer base.

For brands, succeeding in the mobile sphere means applying an improved experience:

  1. by using everything that mobile devices have to offer.
  2. by providing customers an alternative platform to cooperate with the brand in a way that will hold them coming back for more and more.

In a recent discussion with a partner, she mentioned that she uses an app for an American food chain that doesn’t have an affiliate in her country. She explained, that this source recommends not only food products, but also offers free music and other entertaining content.

It is a perfect example of a label that succeeded in creating a strong mobile experience that provides consumers demand for value-added tax.

Whether you’re a mobile startup or a well-established brand, accurately defining your goals is a significant step on your way to mobile success. Start testing them with upcoming customers. You have a team. But have no strategy? That is a serious question.

Just having a team without a clear understanding of its strengths and weaknesses doesn’t mean much. Don’t rush into creating a mobile strategy without first taking the time to understand clearly where you should go.

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