A system and method for non-invasively monitoring the hemodynamic state of a patient by determining on a beat-by-beat basis the ratio of lusitropic function to inotropic function as an index of myocardial well-being or pathology for use by clinicians in the hospital or by the patient at home. In one embodiment of the system a smartphone running an application program that is connected through the internet to the cloud processes electronic signals, first, from an electrocardiogram device monitoring electrical cardiac activity, and second, from a seismocardiogram device monitoring mechanical cardiac activity in order to determine such ratio as an instantaneous measurement of the hemodynamic state of the patient, including such states as sepsis, myocardial ischemia, and heart failure.