IoT is currently trending all over. Companies have heavily invested in the latest technology to streamline their business processes as well as cut expenses. Consumers are now buying smart home appliances and wearables to save their time as well as improve their own quality of lives. If you are about to release a smart device or even considering to optimize the business workflow of your healthcare institution with any IoT solutions through IoT development, you need to have an idea for how much it cost for IoT app development. Here, we will explain what the cost and features of IoT solutions for healthcare are.
Components of Infrastructure of IoT and Additional Costs
- Network- The IoT doesn’t work without any presence of highly scalable and high-speed network infrastructure along with low latency. IoT connectivity is often enabled through short-range wireless technologies like Bluetooth, NFC, Wi-Fi etc. and even cellular networks. In this case, your healthcare IoT solution consists of connected devices communicating over a network, and you need to plan for additional connectivity expenses.
- Middleware- In case you are planning to add any third-party device into your IoT ecosystem then you will require a piece of software that essentially functions as a particular interface between different IoT components, which is called Middleware.
- Data Centre or Cloud-based infrastructure- Here we discuss storage solutions as well as software which boils down the huge amount of raw data, in gigabytes, to what is actually meaningful. The IoT healthcare companies often leverage small healthcare IoT devices connectivity as well as data analysis through different PaaS solutions.
Read the Blog: How Much Does IoT Application Development Costs?
In case of IoT based healthcare system, when there is monitoring systems of patients, there is a requirement of customer support team along with software, hardware and cellular network. This team helps the patients who have called for any immediate assistance. To enable the connectivity of the IoT solution for healthcare, you have to rely on cellular networks. Here, it will incur additional network costs.
Cost of Healthcare IoT Application Development
When it comes to healthcare software development of IoT solutions, we have to consider various factors which affect the cost of development. They are:
- Total Number of supported platforms.
- Complete Integration with different third-party solutions such as payment gateways, healthcare wearable devices APIs, etc.
- Data ingestion sources as well as requirements.
- Security standards.
If you are working on a healthcare IoT solution, then you have to start with a particular Proof of Concept. In case you don’t have expertise in IoT development, then you can pay a company dedicated to healthcare software development for the purpose of PoC implementation and technology feasibility verification.
You also have to design as well as produce hardware for the different connected products. In case your budget is limited, then you can always go for the prototype to raise funds for future development as well as mass production.
Requirements of IoT infrastructure depend on the complexity of the IoT app development as well as a business model that you have chosen.
You also have to consider money for the purpose of marketing. This will cost an additional amount of money.
If you calculate the costs of different IoT components like infrastructure, hardware etc. then the total cost for an MVP version of the IoT app will be around $50,000
Development of a single platform IoT healthcare app that works in synchronization with customized health monitoring devices can take nearly 300 hours of development. It can cost around $10,000 to $15,000. The application will also use different programming tools such as the OpenGL library in order to render the sensor data in the real-time and also product good-quality medical graphs. In this case, the project duration can extend to 500 hours and the total cost of development can be near $20,000.
If your iOS and Android healthcare app is integrated with a variety of radiation monitoring devices through Bluetooth, analyses different sensors’ readings, generates medical reports, and also send the data to any cloud-based server then the total development hours will be nearly 2000. For such large-scale healthcare software development, the estimated cost is around $70,000.
If you require multi-level IoT solution that should have web-based admin app along with ERP/CRM capabilities as well as embedded software which runs on custom medical devices and mobile apps, then it will take nearly 6000 hours of development. It can cost you around $200,000 for such type of IoT app development.
IoT development has picked up a significant pace in recent times. It is widely used in the healthcare industry to monitor patients’ progress and health status. Cost of IoT app development of healthcare applications depends on various factors. Above-mentioned costs of IoT application development for the healthcare industry is a ballpark figure which gives an idea of the cost of development of healthcare IoT app.