Reasons Healthcare Providers Should Invest in Remote Patient Monitoring

Remote Patient Monitoring (RPM) has evolved in this New Era of the healthcare system and has been giving valuable investment to patients and healthcare providers. In this time of COVID-19 pandemic, healthcare organizations have made considerable importance on investments in the form of telehealth access like Remote Patient Monitoring. Therefore, RPM is considered a valuable investment because it gives benefits to both patients and healthcare providers.

1. Continuous Real-Time Access to Patient-Generated Health Data (PGHD)

Patient-Generated Health Data (PGHD) are health data or any data relative to health collected by a patient, such as biometric data, symptoms, choices in lifestyle, and history on treatment. Through RPM data will automatically be collected, as it flows to wearable platforms, where they can analyze and can have access anytime during consultation. The patients will wear the medical devices and can collect data anytime as the doctors can evaluate and review the data as part of making decisions and judgments.

Continuous real-time RPM allows doctors to respond according to the patients’ physiological data. This will help to provide a higher quality of care and will enhance health outcomes. The medical specialists monitor their patients through calls and videos, at the same time they can watch patients’ vital signs in real-time. This information can be recorded and put into a checklist-like assessment that will be used for evaluation and reporting and use for patient care.

2. Automation and Improved Efficiency

Monitoring multiple numbers of patients especially dealing with hundreds manually takes a lot of time and effort, but RPM can accurately automate the whole process. RPM is one of the best examples of investment in terms of telehealth solutions owing to its capacity to automate monitoring systems. Through accumulating clinically applicable data, providers can have more high-yielding conversations informing the patients’ bigger picture of health conditions while perceptively addressing the issues in order to avoid health deterioration and reduce healthcare costs.

3. Significant Cost Reduction and Financial Stability

Maintaining good health, and treating physical, mental, and behavioral health conditions is costly, therefore seeking better solutions to achieve this purpose is considered a valuable investment. Providers using RPM-enabled home health monitoring systems and other telehealth delivery methods are already reducing hospital readmission penalties. For instance, a Medical Center reduced the risk of hospital readmissions by 76% by equipping patients with tablets and RPM equipment.

In order for health systems to be successful in the future, they have to make early investments in digital health technologies that enable adaptability while prioritizing affordable and scalable solutions. Another survey believed that digital transformation is a universal and urgent need for their health system to survive long term and sustain quality patient services.

Key Statistics and Performance Metrics

• Projected RPM Users: 30 million US patients will use RPM tools by 2024.
• Market Growth: 28.2% growth from 23.4 million patients in 2020.
• Readmission Risk Reduction: 76% reduction in hospital readmissions in specific medical centers.
• Patient Satisfaction: Scores held over 90% when using RPM equipment.
• Healthcare Cost Driver: Patients with behavioral and physical health conditions account for 44% of healthcare spending.

4. Accessible Care Delivery Anytime and Anywhere

The essential key to success for health systems is early investment. In some recent surveys, health executives targeted to add remote patient monitoring as an essential of their virtual care strategy. This allows one person in remote areas to be notified immediately by the health providers if something was gone wrong.