Interesting technology. I wonder if it is being evaluated for use in doping control?
http://www.masimo.com/hemoglobin/
Total hemoglobin (SpHb™) is the latest measurement to be offered as part of Masimo Rainbow SET®, the first and only technology to noninvasively measure blood constituents and blood volume status that previously required invasive procedures.

i don’t think this provides anything useful to doping control that isn’t already available. sure, it doesn’t need a blood sample, but the controllers take blood anyway. plus, it’s probably no ‘research’ grade - so it could be challenged (successfully) in appeals.
seems like it would work great in a hospital, but not much use for wada
Given that the instrument is an FDA approved device, it’s clinical accuracy would be well established:
http://www.masimo.com/pdf/SpHb/LAB5063B.pdf
But to your point, the results could perhaps be (successfully) appealed, as the gold standard for accuracy would be a blood gas analyzer.
Interesting, I can see a benefit in it as you can test the whole peloton, but I’d hate to see a device used like this at a local event, and dq’ing 5 bop’ers because they use Propecia to hide their baldness.