During November 2015 I blogged I was Putting my money where my mhealth mouth is and investing in two Australian Stock Exchange (ASX) listed mhealth companies: ResApp and Simavita. In December 2015 I discovered that another ASX listed mhealth company, MedAdvisor, and have added it to the mhealth portfolio.
MedAdvisor builds apps (mobile & web) that help patients manage their use of medications. This is often referred to as medication adherence, but might also be referred to as compliance or concordance (which name to use is a thing in it’s own right, as described in this paper). It turns out that medication adherence is a really big problem – as many as 50% of patients don’t take their medication as per the prescription. That means the medications aren’t as effective as they could be, which means patients aren’t getting the full benefit of taking the medication. Obviously that’s bad for patient outcomes (i.e. they don’t get as well as they could as fast as they could), but it’s also a big cost for the health care system. Some have even suggested that in the USA it’s a $300 Billion problem.
MedAdvisor says their apps boost medication adherence by 20%. The consumer’s perspective of how the apps work can is playfully described in the consumer video (Go You Good Thing Pharmacist Phil!). To learn more about the business, watch the below interview with MedAdvisor‘s CEO Robert Read:
As I said previously, these mhealth companies are very small/immature businesses. Any investment in them is highly speculative. They are almost certainly not appropriate investments for the vast majority of people, so make sure you’re well informed before investing.