National health spending was $4.3 trillion in 2021 or 19.7 percent of GDP. Spending on Hospital Care (31 percent share) was $1.3 trillion and Retail prescription drugs (9 percent share) was $378 billion in 2021. The estimated annual cost of drug-related morbidity and mortality resulting from non-optimized medication therapy was $528.4 billion, equivalent to 16% of the total US health care expenditures in 2016. HiDO can potentially reduce hospital care expenditures by 30-50% depending on the disease state. That is roughly $400 billion to $650 billion annually.
What is a HiDO?
Health Information Data Outcomes or the BLUEPRINT for patient home healthcare.
HiDO is a patient friendly device accompanied with a mobile application that helps automate home care by assisting patients with medication compliance. HiDO automates the medication experience and removes much of the patient burden to remember the right medication, the right frequency, the right dosage and validates the right person through a remote video record.
What can HiDO do for the public?
Patients and providers have limited resources to maintain good health while at home. 99.9% of a patient's time resides at home and the infrastructure to communicate to providers is often a hospitalization, Emergency Room visit or scheduling a visit. Providers now can remotely monitor their patient populations and communicate when help is needed. This is a home clinical intervention meeting a patient when needed, as needed in the convenience of their home. One of the many challenges for providers is investigating the root cause to a patient's disease state. They often lack trustworthy information to determine if medications are working as prescribed or if the patient is communicating accurate information about medication regimens.
Could HiDO Change Health Care?
It’s really about simplifying the patient journey. Our mission at HiDO is to help patients thrive at home, live healthier and happier lives. Most chronic care patients can maintain good health if adequate support is delivered in the home care setting. This shift of integrative care will swing the cost pendulum of healthcare from hospital to homecare. HiDO has the ability to create the most unique data sets for drug outcomes based on real-world evidence among at-risk populations with chronic diseases. Thousands of medications have been approved but the combination of prescribed drugs for patients is primarily based on caucasian males in most clinical studies. HiDO can bring health equity and precision medicine to underserved populations and optimize medication delivery to enhance patient outcomes now. We can move beyond the four walls of the hospital to deliver high quality of care in the home.
HiDO Investor Insights
Thomas Kluz a Venture Capitalist provides his thoughts about HiDO and the impact to the healthcare industry.
"HiDO could be orders of magnitude larger than a Unicorn because of the market opportunity and pain points are so compelling." - Thomas Kluz