Proven technology and digital communications are being used to leverage decades of health industry knowledge and speed access to care among Hispanic communities. These solutions and digital access align with Hispanic use of new technology tools: 84 percent of all Hispanics are online and Hispanic internet smartphone usage is 10.5 hours per week – 25 percent more than the national average.
Now, these innovative technologies are enabling a growing number of Hispanic consumers to access several cash-based primary care and pharmacy solutions, such as:
A medication voucher program that gives consumers the ability to pre-purchase generic medications at affordable price points. They can be purchased for personal use or gifted to a friend or family member either domestically in the U.S. and Puerto Rico, or internationally.
A free prescription savings card model allows cash-pay consumers to save a significant percent on brand name and generic medications across a wide network of pharmacies.
An end-to-end clinical solution for patients with diabetes, hypertension, asthma, and obesity that includes vouchers for medications, peripherals, testing supplies, tablet, apps, and access to lifestyle coach consults.
A bilingual telemedicine platform, which helps under served populations access the healthcare they need with more ease.
Solutions such as these are simplifying access and delivery of quality health and wellness products. Thanks to these technology platforms, individuals are enjoying improved access to care, opportunities to learn about their health, determine their wellness needs, purchase lower cost medications, manage their chronic conditions and engage in behavior modification solutions to help them lead healthier and more productive lives.
These solutions also give Hispanics access to products and services anywhere and at an affordable price, whether it’s domestically in the U.S. and Puerto Rico, or internationally in Mexico, Guatemala, Honduras and El Salvador, in either English or Spanish, and without the need for any type of insurance or third-party payment.
This level of innovation holds great promise for closing gaps in care for under- and uninsured Hispanics in the United States, meeting cultural needs and with respect for affordability of care.
Hoy Health LLC has completed a multi-million dollar first round of its Series Seed Preferred investment, led by 3 Ríos Ltd., RAAD Broadcasting Corp. and Ríos Commercial Corp. The new funds will be allocated to help build Hoy’s unique platform, leverage consumer data and insights into providing incremental products, value and price transparency, and build on the Hispanic focus to capture broader opportunity in providing access to affordable quality primary care for all insured and non-insured consumers.
“Hoy product offerings are highly meaningful and well-timed, built on a commitment to answering the unmet healthcare needs of underserved populations, particularly for Hispanics, and in a way that overcomes both cultural and language barriers to accessing affordable healthcare,” said Roberto Dávila Ríos, president, 3Rios. “We are impressed by Hoy’s innovative approach to offering affordable care, Rx drugs, chronic condition management programs and telehealth/virtual care that will result in improved access to care, coupled with real savings for those who need it most. We are confident that Hoy will continue to expand its customer base, given its track record for engaging consumers from 14 states and four countries, as well as hospital/clinic and retail clients, in a relatively short time frame.”
Following financing, Hoy will increase marketing support for HoyRxwhere, for the first time, consumers can purchase medications either online, or at any of Hoy’s growing list of physical retail points, and have them delivered to their family in Latin America within 24 hours.
Mario Anglada
“Following an extensive due diligence process, 3Ríos Group has shown to be an ideal partner to lead the round as both a financial and strategic investor,” says Mario Anglada, CEO, Hoy Health. “Asan active investor and manager of a number of media properties in Puerto Rico, Roberto Dávila Ríos has deep knowledge and interest in both the Hispanic community in the United States and in Latin America. As a strategic partner, RAAD Broadcasting Corp. will also provide access to its media platform to reach and educate the market about Hoy Health.”
With this funding, Hoy announces new strategic hires, including Martin Greger, chief product officer, Jose Aguilar, chief strategy officer, Patrick Todd, chief marketing officer, Jose Febus, chief technology officer, Hilton Perez, M.D., chief clinical officer, and Lenis Guzman, director of marketing.
Hoy Health LLC