What Everyone Must Know About Healthcare Technology Advances
Technology is changing the face of every industry, and health care is no exception. Hoy Health is revolutionizing health care by providing prescription services, clinical solutions, a bilingual telemedicine platform, and other healthcare technology advances for both English and Spanish-speaking patients! Here is what everyone must know about healthcare technology advances.
Drug Manufacturer Transparency Rule to Take Effect
On May 8th, 2019 the Trump administration took a large step towards providing transparency for consumers about health care costs when they issued a final rule requiring drug manufacturers to disclose wholesale acquisition prices in all broadcast advertising. This rule will take effect in July of 2019 and has the potential to make a major impact on the way that life sciences companies promote products to customer in the future.
Prescription drug spending totaled over $457 billion a year according to recent government statistics. The drug market is so competitive that the industry spent $5.5 billion on medication advertising alone in 2017. Considering the fact that some frequently advertised drugs cost well over $4,000 a month, it is critical that consumers know the price tag of every advertised pharmaceutical drug. Hoy Health is determine to revolutionize the industry using the best healthcare technology advances.
What is Hoy Health?
Hoy Health LLC is an emerging health-tech company offering affordable access to Rx drugs, chronic condition management programs, and telehealth/virtual care to formerly underserved medical markets. These innovative, cash-based wellness solutions include:
HoyRX - HoyRX is a medication voucher program offering a one-of-a-kind medication preorder experience to consumers. HoyRX allows consumers to select from an impressive 3,500 plus generic medications at affordable prices. This program is currently available for customers in the United States and internationally to residents in some Central American countries.
HoyMEDS - HoyMEDS is a prescription savings card that allows cash-pay customers to save up to 80% on both brand name and generic medications across a network of over 62,000 pharmacies, and the best part of it is that this service is free! According to a 2017 national program savings data survey, consumers saved an average of 54 percent with the potential to save 80 percent. You can download HoyMEDS on the Apple store or Google Play.
HoyCCM - HoyCCM is a turnkey end-to-end clinical solution offering patients with diabetes, hypertension, asthma, and obesity a variety of management solutions for their diagnosis including medication vouchers, peripherals, testing supplies, tablets, apps, and access to lifestyle coach consultations. The retail version of this chronic condition management program, HoyLIFE, is available on Hoy Health’s website as a kit.
HoyDOC - HoyDoc is a bilingual telemedicine platform that offers the consumer the ability to interact with a healthcare professional in the language of their choice with hundreds of bilingual English and Spanish speaking US-based healthcare professionals available. This is a great example of how Hoy Health is using the latest healthcare technology advances to transform health care.
Hoy Health Harnesses An Exploding Health Technology Market
Technology has revolutionized every aspect of modern society, and health care is no exception. What are the benefits of health technology, you ask?
Telehealth or telemedicine is the future of health care because virtual healthcare allows patients to remotely connect with their physicians via video conferencing or mobile apps. Another way doctors can monitor their patients remotely is via wearable technology. There are so many benefits of virtual healthcare including convenience, ease of use, and saving big bucks. If all patients chose virtual healthcare in the future, it would have the potential to save the United States health system $7 billion every year while freeing up the equivalent of 37,000 doctors.
The telemedicine market is predicted to hit an estimated value of $36.2 billion by 2020. This market has expanded significantly from a value of $14.3 billion in 2014. Interestingly, 64% of Americans stated they would attend an appointment via video telehealth according to the American Well 2015 Telehealth Survey. This impressive statistic that illustrates the rapidly spreading popularity of telemedicine and remote patient monitoring.
The HoyDOC mobile app harnesses this exploding market by allowing patients to connect with health professionals on a telemedicine platform in the language of their choice. Additionally, the HoyDOC mobile app also allows patients to carry their health data and conveniently access it 24/7. The platform is both HIPAA and HITECH compliant, providing a secure environment for patient and physician interaction. HoyDOC represents the best of the latest healthcare technology advances.
"The HoyDOC mobile app gets us one step closer to providing a complete primary health bilingual ecosystem and one step closer to fulfilling our mission of providing accessible and affordable healthcare to everyone, everywhere!”
- Mario Anglada, Chief Executive Officer, Hoy Health LLC.
Hoy Health Meets Needs of Growing Hispanic Population
Hispanics are the fastest growing population in the United States according to statistics, accounting for $1.7 trillion in purchasing power. Hoy Health CEO, Mario Anglada, revealed in an interview that prior to founding Hoy Health he was in charge of creating healthcare services for underserved communities especially for the Hispanic uninsured at his former job. Witnessing the challenges that Hispanic consumers faced inspired Mario to pursue solutions and led to the creation of Hoy Health, LLC. His vision for the company includes reaching all of Latin America, Asia, Africa, and the rest of the world by 2020.
The CEO of Hoy Health, Mario Anglada, believes that a disparity exists in the quality of health care between Latino Americans and the rest of the population due to cultural and linguistic barriers. His company is the first to address this disparity by offering health care services that are digitally accessible, bilingual, culturally relevant, and HIPAA-compliant. He referenced an article in JAMA revealing that an estimated 3.1 million Latin Americans have diabetes and over 60% of them only speak Spanish which restricts them from adhering to their medication regimens.
“Hoy Health answers the unmet healthcare needs and limited access to affordable care among Hispanic families. Hispanics typically over-index on diabetes and under-index for healthcare coverage, accompanied by a poor track record for early diagnosis and compliance with treatment that further exacerbates medical conditions. In response, our platforms are digitally accessible, bilingual, culturally relevant and HIPAA-compliant.” - Hoy Health CEO, Mario Anglada
In conclusion, Hoy Health offers practical healthcare technology advances and solutions for both English and Spanish-speaking patients. What’s not to love? To learn more about how you could benefit from Hoy Health as a consumer, please visit their website by clicking here.
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