HealthLy is a family health and medication management system and a companion that is encompassing the crucial tools and personal health records for people interested in monitoring and improving their health and the health of their loved ones.
We have a second version of the product ready. MVP was launched only in Serbia and has 3000 users so far for 18months and 4.8 stars reviews. We are preparing to launch in the US within a month and it will be a freemium subscription model. Currently, we are in negotiation (contract details) with an insurance company in Serbia and a couple of local hospitals.
People with chronic conditions and their caretakers make up at least 40%+ of the population in each country. In the US, about 65% of people already use apps to measure health metrics. The majority of users are between 30 and 55 yrs of age. The female gender is represented slightly more than the male. The average household income is mid to high and the user mostly lives in urban cities. On a global scale, the mobile health market value is predicted to reach $100B in 2021 and $300B by 2027.
Problem or Opportunity
The majority of the adult population suffers from at least one chronic disease. Due to their condition, they need regularly to adhere to medication therapies. Half of the chronic patients do not adhere correctly to their medication therapy which leads to treatment failures and hospitalizations. People with chronic conditions and their caretakers need constantly to monitor health data, record changes and communicate with medical workers quickly.
Solution (product or service)
HealthLy is a digital therapeutics app that spurs changes in patient behavior and improves health outcomes. It also provides a personal health records management system for families, patients or even pets. It addresses the adherence problem and also provides new ways of communicating remotely with doctors and instantly share the health indicators changes. HealthLy puts all health data, lab results, doctor's reports, medication management, analysis and reports in one place. This helps people react quickly to their health needs and efficiently improve their health.
CareZone Est. 2012 in the USA 5M+ installs $168M raised in 3 rounds Acquired by Wal-Mart in 2020 for around $200M
MediSafe Est. 2012 in Israel 5M+ registered users $51.5M raised in 5 rounds Partnered with Merck and Takeda
OneDrop Est. 2014 in the USA 2M+ installs $106.2M raised in 8 rounds Partnership with Bayer
MedHelper Est. 1998 in Canada 200K+ installs $1.4M raised in 1 seed round Partnership with Comcast, Alliance Pharmacy
Advantages or differentiators
AI Analysis with extensive reporting and historic data
All-Encompassing set of health management tools together with personal health records management
Peers Connection for sharing, connecting and comfort
API Connectivity for instant measurement entry (wearables, devices, sensors, software)
Interactions Check instant control to avoid complications
Searchable Storage personal medical documents & reports classified and searchable by a specialty
Reports Sharing remotely and instantly sent to a doctor and receiving a feedback
PHR detailed personal health records with emergency access option
Medical Resources Latest health-related news, researches and tips
The app is based on the freemium subscription model. There is a free package and two premium levels. There is a possibility of an annual subscription with a discount and also a bulk licenses purchase for hospitals, insurers or pharmacies. The app contains a large amount of data in regards to medication usage, adherence, demographics and health indicators correlated with therapies. All this data is interesting for pharmaceutical companies and pharmacies. There are several major pharmaceutical companies already investing in similar apps. The cost structure is divided between the development (40%), marketing & promotions (40%) and 20% on operational cost.
Money will be spent on
It will be spent on further development and marketing, promotions.