Increasing number of devices being used in and around the human body has resulted in the exploration of the human body as a communication medium. In this paper, we design a channel model for implantable devices communicating outside the body using physically secure Electro-Quasistatic Human Body Communication. A galvanic receiver shows 5dB lower path loss than capacitive receiver when placed close to transmitter whereas a capacitive receiver has around 15dB lower path loss for larger separation between the transmitter and receiver. Finite Element Method (FEM) based simulations are used to analyze the communication channel for different receiver topologies and experimental data is used to validate the simulation results.