#7: Hims & Hers Announces MedMatch, Its Latest Personalized Medicine Initiative
It’s been a busy year for the digital health giant.
Last week, hims & hers unveiled an artificial intelligence software called MedMatch. MedMatch is a clinical decision support tool — informed by thousands of providers and millions of patient data points — that helps physicians curate personalized treatment and medication plans for patients. The goal, according to CEO Andrew Dudum, is to “transform healthcare” by giving providers a more intelligent and informed way to deliver personalized care to patients.
Still in beta, MedMatch will be used for patients seeking support for anxiety and depression. Mental healthcare is one of the fastest-growing offerings within the hims & hers platform and MedMatch will play a major role in filling the 30k psychiatry provider gap in the U.S. However, there are plans to eventually integrate the software into the multispecialty care provided by hims & hers.
MedMatch is just the latest in a suite of newly announced personalized medicine initiatives from hims & hers. These new offerings have increased investor confidence and boosted the revenue outlook for 2023. Two years since going public, the digital health provider brought in $227m in Q3, a YoY increase of 57%. Online subscribers also jumped 56% YoY to 1.4 million, signaling that millennials — hims’ core demographic — continue to find value in D2C healthcare.
But that original consumer population is both aging and becoming more proactive about their health. They now require holistic solutions for chronic conditions rather than for the hair loss and acne issues that first brought them to the platform.
This past summer — in collaboration with the American College of Cardiology — hims launched Heart Health by Hims, a dual-action medication for men supporting both sexual and cardiovascular health. CVD is a chronic disease that kills 1 in 4 men nationwide. Sexual dysfunction is also a known harbinger of heart disease, making the combined statin and ED pill an innovative and preventive solution. In addition, Customers will have access to heart health educational resources through CardioSmart.org.
And through hims & hers’ recent partnership with LabCorp, personalization of treatment has been taken one step further. Providers can order comprehensive biomarker panels for patients, and results will automatically integrate into the hims & hers EMR system to help curate precise treatment plans.
Hims & hers also indicated that a weight loss program will be offered by the end of the year.
Such a program, however, won’t center around GLP-1 drugs. Instead, the obesity solution will be much more comprehensive.
“The foundation [of the solution] is a holistic approach to weight management grounded on education, dietary direction, and if indicated, targeted and tailored medications that are focused on the individual customer”.
~ Dr. Patrick Carroll, Chief Medical Officer of hims & hers
The company cites supply chain issues and uncertainty about the long-term effects as reasons for holding off on GLP-1 drugs. Instead, they plan to target underlying factors of weight gain by “leveraging the active ingredients in proven prescription medications and supplements as well as behavioral and nutritional-focused plans”.
In May, hims & hers added 5 chronic disease experts to its Medical Advisory Board, mirroring expansion into more complex conditions. These new members include 2 obesity medicine doctors, 2 cardiometabolic doctors, and 1 menopause & primary care doctor.
Riding the excitement behind brand-new chronic disease initiatives, hims & hers expects to be profitable by the first half of 2024 and will hit the $1b revenue mark by 2025. The telehealth powerhouse has broadened its care model to be more holistic, meeting the demands of an aging population.
“Our story is no longer one of simple access, but a story of bolstered capabilities in diagnostics, treatment, and care that we believe can deliver truly better outcomes.”
~ Andrew Dudum, CEO of hims & hers
From personalized medicine to lab testing to comprehensive chronic disease solutions, hims & hers may offer a quality of care that goes beyond the capabilities of traditional healthcare.
To learn more, listen to this week’s podcast episode with Dr. Patrick Carroll, Chief Medical Officer of hims & hers.
Listen on Substack and Apple Podcasts.
This week’s health roundup:
Amazon launches Prime subscriptions for One Medical, Axios
‘Aging is a disease’: Inside the drive to postpone death indefinitely, Washington Post
Apple and Anthem’s experimental asthma app shows early promise but its future is uncertain, Stat
Elon Musk’s Brain Implant Startup Is Ready to Start Surgery, Bloomberg
87% Of Sweetened Products Contain Added Sugars Only, Study Finds, Forbes
Do you really need to walk 10,000 steps to see health benefits?, Medical News Today