Market Segments
The market for home health monitoring technologies in the US is expected to reach USD $2.5 billion for devices and services by 2012. Currently this market is being driven by disease management organizations (DMOs) that are currently being paid USD $2.2 billion by Medicaid, Medicare, employers, insurance companies and others to manage people with chronic illnesses.
On a global basis industry analysts see the mobile wireless remote patient monitoring market as a USD $1 trillion opportunity over the next 5 years. This is buoyed by demand from countries like China and India with a need to provide inexpensive health care solutions to vast populations.
MedApps has developed a very deliberate technology roll-out strategy that will initially concentrate on the disease management market which represents a large portion of the healthcare system population. This market is aggressively seeking new solutions for getting their healthcare costs under control.
The MedApps System offers many benefits to the private practitioner, the medical investigation market, private nursing homes and other medical facilities, and can play an important role in pilot studies and clinical trials. It is the perfect solution for the future development of specialized nursing centers that will focus on specialized disease care throughout the U.S.
MedApps’ opportunity will expand to the consumer-direct market as companies such as Microsoft, Google and others actively promote the availability and benefits of online patient health records (PHR). MedApps solutions can automatically populate PHRs, such as Microsoft’s HealthVault, with the type of health data that makes such records valuable. Plus, MedApps enables consumers to use monitoring devices that can be purchased at retail drug stores rather than the multi-thousand dollar, home telehealth devices that are now being provided through the medical system.
Ultimately, the MedApps story will come together on the shelves of drug store chains. Whether integrated into other devices or marketed as a stand-alone solution, MedApps’ technology and infrastructure can become a common thread linking in-store retail medical clinics, pharmacies, durable medical equipment (i.e. glucometers etc), supplies (test strips), mail order services and PHRs for a quality and seamless healthcare customer experience.