Historically, patients seeking medical care generally had two options: either have a physician stop by their house or travel to the provider’s office and have a medical professional take care of things like measuring vitals, monitoring blood pressure, and diagnosing illnesses or conditions.
Since most people don’t go to their doctor’s office on a frequent basis, this system leaves much to be desired. Imagine a patient gets a clean bill of health today only to have their condition worsen over the next several weeks. By the time next month’s checkup comes, the patient is in much worse shape.
Fortunately, these kinds of scenarios are becoming much less common today due to the rise of remote patient monitoring (RPM).
What is Remote Patient Monitoring (RPM)?
Remote patient monitoring is the process of using technology to monitor and manage patient health outside of traditional appointments.
Whereas telehealth generally refers to conducting doctor appointments over voice and video calls, RPM focuses on collecting biological and physiological data and rapidly analyzing it. For example, a practice might monitor a patient with hypertension to make sure their blood pressure is in an optimal place using a device that goes around the patient’s arm and collects and sends blood pressure data.
By investing in a purpose-built RPM solution, high-volume medical practices are able to improve treatment for everyone by monitoring and analyzing patient conditions in real time. Not only does this enable them to make sure chronic illnesses don’t get progressively worse, but it also allows them to “see” more patients each day, which can have a big impact on their bottom line.
The Benefits of Remote Patient Monitoring in Healthcare
According to one recent study, the global patient monitoring market is expected to grow to $41.9 billion by 2025, up from the $25.5 billion the market commanded in 2020. In large part, that’s because the technology has the power to transform even the busiest of practices by delivering these five benefits — and more.
1. Improved Patient Outcomes
With the right remote patient monitoring solution in place, health outcomes improve thanks to timely and realistic care delivered to patients in the midst of their day-to-day lives.
In the case of our theoretical patient with hypertension, a doctor using RPM might notice an increase in blood pressure and immediately intervene by either putting the individual on a new medication or suggesting lifestyle changes. This improves patient outcomes across the entire practice.
2. Increased Revenue
Deploying leading remote patient monitoring tools enables you to capture revenue with no upfront costs or additional staffing. When you partner with the right vendor, you gain access to a team of skill technologists who identify and enroll patients on your behalf. After that, they help make sure patients are productive with the platform by managing their devices and recording and monitoring data.
Since Medicare reimburses RPM services at the same rate as in-person appointments, this can be an incredibly lucrative add-on.
3. Reduced Labor Costs
Remote patient monitoring frees physicians and medical staff from having to see more patients in the office. The technology takes care of much of the work instead. This, in turn, reduces labor costs and helps alleviate physician burnout.
And that’s a big deal because 54 percent of urologists, 50 percent of neurologists, and 49 percent of nephrologists are burned out — compared to 42 percent of all physicians.
4. Enhanced Visibility into Health
With a powerful remote patient monitoring solution in place, doctors and physicians gain visibility and insight into changing patient conditions. As a result, they are able to identify and begin remedying certain conditions before they worsen — improving health outcomes while keeping costs down for patients, insurers, and practices.
5. Increased Patient Engagement
At the end of the day, RPM tools enable you to engage your patients on a deeper level by offering a collaborative care experience. And that’s a great thing because the more patients are engaged in their healthcare, the more likely they are to take control over their treatment plan and achieve an optimal health outcome.
It’s Time to See What Remote Patient Monitoring (RPM) Can Do for Your Practice
If your practice is packed with patients and you’re looking for ways to cover more ground, increase your effectiveness, and become more efficient, we can help! To witness the game-changing power of RPM technology in action, request a demo today.