We’re living a historical time with unknown operational challenges and supply chain restrictions. The global economy is on a free-fall, an unsightly recession is looming close, and nearly all businesses are coming to terms about one thing: Uncertainty.
But one business that appears to be partly resilient is subscription. Companies here are reporting fair growth rate with strong signs for a hopeful future. OTT video streaming, news and media, communication SaaS subscription are seeing steady growth, however, consumer membership and travel and hospitality subscriptions are those that are seeing a struggling time. We know the reasons.
But a subscription model few people are talking about now, and which holds immense opportunity to leverage this crisis is healthcare subscription.
We take a look – Imagine the hard truth: A global lock-down is in place, many restrictions are preventing mass movement and people are still
learning to live with the social distancing protocols. This is a highly unpredictable time. A situation no one was prepared for.
While lifestyle changes are becoming commonplace, life stays and is desperate to thrive.
Diseases are still here, people are still getting sick, emergency services are still needed on high priority. Unfortunately, people’s access to healthcare is getting disrupted because of the prevailing crisis. Few days with this lock-down and bad phase, this may sound normal and natural for many of us. But imagine what it holds for the senior citizens, people with disability, people who live alone with no one to look after them. Their reduced or disturbed access to timely medications is a challenge that requires immediate attention at a humanly ground. While governments are doing their part, this situation needs wide-scale support from everyone.
Access to a monthly subscription allows subscribers to receive important prescription medications (allowed online) timely. With home delivery facilities that follow social distancing measures, they don’t need to step out in search of their medicines. And there’s no fear of your medicine stock ending up.
Healthcare subscription companies can effectively use this time to reach out to more needy people, serve them with better technology in order to make their lives better and uncomplicated. It’s also the time healthcare companies improve their subscription billing system and make the checkout experience hassle-free.
Challenges to overcome
An effective health care subscription model’s CRM platform needs to manage the customers, subscription orders, renewals, Payments, Retention. A good foundation is needed to make customer engagement interactive.
About SubEcob
SubEcob is a Cloud-based monetization platform to simplify subscription business, Quote to order, Up-sell, Down-sell, Recurring Bill & revenue, Subscriber Life-cycle management, Analytics & Reporting from one single platform Subecob empowers companies from any industry seamlessly migrate into a subscription business using a fully-functional cloud-based software platform. It frees companies to develop their own Subscription Billing and back-end systems to handle ongoing subscription-based / Recurring Billing, Revenues & payments.
As a result, companies achieve real-time simplicity in the management of customer subscription and payments from a single point
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