This is a term proposed by Bart B. Van Bockstaele as an alternative to “complementary and alternative medicine”.  The reason this term seems preferable to complementary and alternative medicine is that the latter suggests that it is an alternative to conventional medicine. This is a fallacy.

There is no such thing as alternative medicine. There is only medicine, and anything that is not part of medicine has either been unproven or has been shown to be ineffective or dangerous.

Good examples of alternology are ayurvedic medicine and acupuncture. These systems are thought -mostly by westerners- to be based on ancient wisdom, and therefore far more effective than conventional medicine.  This is blatantly wrong. 

It is not because something is old that it works, and it is even less true that this implies that it would be better than its modern counterparts. We no longer use magic carpets to carpet around the world. We use airplanes now. The reason seems obvious.

How can we be so sure that alternology is useless? Look at the evidence. People in regions of the world where acupuncture is used (e.g. China) suddenly increase their lifespan when they are introduced to modern medicine. The same is true for people living in places where ayurvedic medicine is used, such as India.