WellMetrix is an adaptable testing platform, capable of meeting the needs of multiple market verticals and applications.
The platform's flexibility allows sales and revenue to start quickly in markets with few regulatory hurdles, then expand to take advantage of opportunities among insurers, providers and consultants, as well as across the fitness industry.
Consumer demand for health tracking devices and solutions is increasing exponentially. Our smartphone-enabled analyzer and disposable test cartridges offer discrete, in-home testing with few regulatory hurdles, resulting in speed-to-market at the lowest cost.
Personal Health Tracking
The market for personal health tracking devices and apps continues to grow. Statista expects revenue from fitness tracking device sales to total $2.57 billion by 2018, while Accenture forecasts 1.7 billion smartphones and tablets will have a health app installed.
Demand for health devices is strongest among 35-44 year-olds. Not only is this the age when people begin caring about their health, they have the resources to purchase devices and join fitness clubs. The largest income group buying trackers has a household income over $100,000.
According to Georgia State University's Center for Mature Consumer Studies, the mature market (aged 55 and above) controls 75 percent of America's wealth and 70 percent of its disposable income. By 2020, this market will include over 97.8 million people in the U.S.
Affluent, educated and empowered with information, this market is rapidly evolving from a passive, “see the doctor once a year” view of personal health management to become active stakeholders in the daily decisions impacting their health and wellness.
Insurers, Providers and Consultants
As quickly as 12 months after entering the consumer market, we plan to complete a 510(k) and HIPAA compliant model, targeting insurers and providers.
This will provide a rapid, low-cost, pre-clinical screening and monitoring platform to assess group health status and identify at-risk individuals, enabling early intervention, health data capture, actuarial analysis, risk management and data mining.
Driven by demand for improved ROI and demographic trends, this market brings great potential for stable, long-term growth.
In the US, over 70% of companies offer a workplace wellness program, most of which produce an ROI of only $1.50 for every $1.00 spent.
Our test creates a powerful new tool for early intervention and prevention. Workplace wellness consultants can identify people who would benefit the most and manage personal behavior modification programs, elevating ROI, reducing sick days and increasing employee productivity.
From 2014 to 2024, the Paraprofessional Healthcare Institute projects senior home to add more jobs than any other single occupation, with an additional 633,100 new positions. Home care is among the top 10 fastest-growing occupations.
Growth is driven by seniors who opt to remain in their homes following an illness or event. Our product allows workers of any skill level to administer the test and upload results, creating a virtual, direct and real-time monitoring network for all seniors under a provider's care.
Athletes and Training
Monitoring stress, inflammation, muscle efficiency and fat metabolization during training is a rapidly growing service provided by clubs and trainers. Among elite athletes, those analyses are essential to maintaining peak performance.
Our platform represents a giant step beyond simple pulse, activity or glucose meters for real-time monitoring of athletes, and can be applied to markets throughout the fitness industry, including health clubs, spas, trainers and teams.
For professional athletes, health is currency. Yet demand for greater levels of competitive performance subjects their bodies to extraordinary stresses. Understanding the optimum path from training to competition to recovery is vital to career longevity and earning potential.
Our testing device has value along the entire arc of any athlete's conditioning regimen, allowing trainers to design optimum nutrition plans, avoid over-exertion and help entire teams perform at peak metabolic efficiency.
It's like "Money Ball" with biomarkers.
By starting with a rapidly growing, low cost-of-acquisition market, and by expanding into programmatic sales and specialty verticals, the WellMetrix platform avoids the risk of depending on any single market while quickly growing volume, revenue and momentum.