Consorteum Holdings, Inc. (CSRH) Strategically Positioned to Capitalize on Booming Mobile Health App Market
If you ask researchers and writers at the MIT Technology Review, they will tell you in no uncertain terms that the world wants mobile medical apps (MMAs), and don’t expect demand to slow down during the near or distant future.
At an MIT Technology Review EmTech conference late last year in Boston, Jeannette Tighe of Sagentia, a global technology advisory and product development company headquartered in Cambridge, UK, stated that in 2015 at least 500 million smartphone users worldwide will be using health-related apps. Her foresight appears to be right on the money.
By 2017, the market for health related apps is trending to hit $26 billion, according to Research2Guidance, a research and consulting firm that focuses on the global app economy. Driving the market for these apps is in no small part due to the world’s aging population and its subsequent, increasing need for medical care. Tighe also noted that in the U.S., nearly 20% of its population will be older than 65 by 2030, increasing vulnerability to Alzheimer’s, cardiovascular disease, and a variety of other age-associated conditions.
David Pettigrew, Sagentia’s vice president of Connected Health, states that, “Benefits to medical-device manufacturers include cost savings through not having to develop a completely new device, leveraging existing platforms while adding more sophisticated sensing and data capabilities, and using an interface that consumers know and understand and is already part of their everyday life.” This confluence of events and technological advances results in the fact that devices are far more likely to be adopted and used correctly.
Consorteum Holdings, Inc.’s (OTC: CSRH) subsidiary, 359, appears to be positioned in the right place at the right time. The subsidiary’s Thin Client Server / Hybrid Mobile Application provides the required security for health care transactions. The health care industry by nature is labor and record intensive, both of which can be expensive. By allowing patients secure access to their medical information, health care institutions can minimize unnecessary expenses.
Possible benefits of Consorteum’s Universal Mobile Interface (UMI) could include optimized patient data processing and reduced costs in areas such as secure account access and mobile health records, medication notifications and automatic refills and real-time insurance co-pay information for prescriptions, just to name a few.
Consorteum markets and licenses the CAPSA software platform in Canada and Mexico. The platform is a mobile content delivery solution that provides digital media to various mobile handsets. Additionally, the platform facilitates transmission of financial information to individual handset owners.
For more information on the company, visit www.consorteum.com
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