Speaking today from New York, SmartMetric, Inc. President & CEO Chaya Hendrick said the company is very pleased with its early sales of its MedicalKeyring from its limited release in August.
Regarding the size of the market for the MedicalKeyring, according to the National Health Council based in Washington, DC, incurable and ongoing, chronic disease affects approximately 133 million Americans, representing 45% of the total population. By 2020, that number is projected to grow to an estimated 157 million, with 81 million having multiple conditions.
More than 75% of all health care costs are due to chronic conditions according to the United States Center for Disease Control (CDC). Four of the five most expensive health conditions (based on total health care spending in a given year in the United States) are chronic conditions -- heart disease, cancer, mental disorders, and pulmonary conditions.
A 2007 study reported that seven chronic diseases -- cancer, diabetes, hypertension, stroke, heart disease, pulmonary conditions, and mental illness -- have a total impact on the economy of $1.3 trillion annually. By the year 2023, this number is projected to increase to $4.2 trillion dollars.
The SmartMetric MedicalKeyring is the perfect solution for the millions of Americans with chronic health issues. Those suffering chronic health diseases also have a high incidence of multiple disease conditions. The ability to store complex and detailed medical information in a portable and privacy secure device gives the treating physician a highly valuable tool in analyzing a patient's total medical picture. Most often the sufferer of one or a number of chronic illnesses also has a number of physicians treating them and having the ability for each different doctor and specialist on the treatment team to be able to easily overview all recorded condition and treatment data from all of those involved in the patient's treatment will be a huge benefit in providing better care for all with chronic conditions. The MedicalKeyring by SmartMetric, Inc. also provides peace of mind and safety to those with chronic illnesses who travel. From the traveling business executive, the snow birds and even cruise and overseas vacationers, any one of these who leave home and have a chronic illness should leave home with their medical information with them. Carried on your keyring, the MedicalKeyring is able store all of your medical records including hospital grade medical images while protecting access to the information by the persons fingerprint using advanced biometrics built into the MedicalKeyring itself.
SmartMetric, Inc. did a limited release of the MedicalKeyring in August of this year with radio advertising on WABC770 in New York. The company was pleased with its direct to the public sales and is now planning a National Radio sales campaign that will both educate and sell directly the device to consumers. In conjunction with the national radio campaign the company is discussing distribution and sales agreements with major pharmacy retailers, health insurers and health related websites. Following the product release in August, the company has made a number of improvements to the product including a larger and clearer screen for displaying non-confidential "emergency" information and enhancements to its medical records management and display system inside the device. The MedicalKeyring is a plug-and-play secure device that uses a hospitals or docters PC USB connection. All information stored on the device including the persons fingerprint that is used to verify and unlock access to the stored information, is held on the device with the MedicalKeyring having inside it a fingerprint reader used to authenticate the user before acess to his or her medical records is granted.