Remote patient monitoring devices and services are gaining popularity among practitioners because it can benefit patients, healthcare providers and general population from treatment outcomes to healthcare costs. As a result, adoption is increasing. Remote patient monitoring reduces hospital hospitalizations by 50% and emergency department visits by 35%①.
Another study discovered that patients who got RPM had 41% lower death rates and 20% lower hospital admissions than those who did not receive Remote patient monitoring②. This article will explain the costs and benefits of Remote patient monitoring to help you decide whether to use RPM to manage your patient’s health.
The benefits of remote patient monitoring
Remote patient monitoring can provide several advantages to both individuals and healthcare facilities. In light of the COVID-19 epidemic, remote patient monitoring is becoming an increasingly crucial tool in healthcare.
Increased access to care
Improved access to healthcare is one of the key benefits of remote patient monitoring. RPM can deliver healthcare services to patients who may be unable to reach healthcare institutions for a variety of reasons, including geographic remoteness or mobility difficulties. Patients can receive ongoing treatment and monitoring without having to return to the hospital or clinic on a regular basis.
This is especially crucial for patients who live in remote locations or have chronic conditions that require frequent monitoring. RPM enables healthcare practitioners to reach out to these people and give them the treatment they require.
Early identification of medical problems
Another important advantage of remote patient monitoring is the early diagnosis of health problems. RPM enables healthcare practitioners to continually monitor patients, allowing for the early discovery of health concerns. RPM systems based on IoT gateways can identify variations in a patient’s vital indicators, such as blood pressure or heart rate.
It can suggest a health problem. Its early discovery can lead to early care and the avoidance of major health issues. RPM can also detect medication noncompliance, which can be handled before it causes more serious health problems.
Improved patient outcomes
Remote patient monitoring may also result in improved patient outcomes. Healthcare practitioners can intervene early and avoid the development of significant health conditions by regularly monitoring patients. RPM can also help with medication adherence, which is important for chronic diseases like diabetes and hypertension. Patients may receive real-time feedback and assistance from healthcare practitioners, allowing them to better manage their illnesses and overall health.
RPM can also help to prevent hospital readmissions, which are a major issue for healthcare professionals. Patients are less likely to require hospitalization or emergency department visits if health concerns are detected and addressed early, which can enhance their overall health outcomes.
Savings on expenses
Remote patient monitoring has the potential to save money for both patients and healthcare providers. Patients can save money on healthcare by eliminating the need for hospital admissions and emergency department visits. Patients can also save money on transportation and missed payments as a result of missing work for medical appointments.
RPM can help healthcare providers minimize the cost of healthcare delivery by minimizing the need for hospital admissions and emergency department visits. By addressing health issues early and preventing more serious health problems, RPM can help minimize the cost of maintaining chronic illnesses. outcomes.
Better treatment of chronic diseases
Remote patient monitoring is very beneficial in the management of chronic illnesses. Chronic illnesses such as diabetes, heart disease, and hypertension need frequent monitoring, which can be difficult for individuals with limited mobility or who reside in remote locations. RPM enables healthcare practitioners to remotely monitor patients and give real-time feedback and assistance.
This can assist patients in better managing their diseases, reducing the risk of complications, and improving their overall health outcomes.
Increased patient satisfaction and engagement
Remote patient monitoring can also boost patient involvement and satisfaction. RPM may promote patient engagement and encourage patients to take a more active role in controlling their diseases by allowing people to participate in their own treatment. RPM can also boost patient happiness by making healthcare more easy and accessible.
People can obtain healthcare services from the comfort of their own homes, reducing the stress and inconvenience associated with typical healthcare visits.
Population health improvement
Remote patient monitoring has the potential to enhance community health. RPM may deliver healthcare services to a greater audience, especially people who may have trouble obtaining standard healthcare services, by allowing healthcare practitioners to monitor patients remotely. This can result in better chronic disease management, lower healthcare expenses, and improved health.
What is the investment and return ratio of the remote patient monitoring system?
The cost of remote patient monitoring
Remote patient monitoring costs are divided into two categories: hardware costs and software costs. Hardware expenditures include the purchase and maintenance of various remote patient monitoring devices, such as blood glucose meters, blood pressure meter, fall detectors, and pulse oximeters. The equipment you require and how much you need depends on the type and quantity of patients you serve.
RPM methods necessitate extensive software to synchronize all components into a feasible, fully functional system, in addition to the equipment used to monitor vital signs and other essential patient information. This is software that must be acquired, installed, and updated on a regular basis to maintain effective and uninterrupted operations, as well as the protection of patient data.
The return of the remote patient monitoring system
A remote patient monitoring system’s investment and return ratio can vary greatly depending on a variety of factors, including the exact technology utilized, the size and complexity of the healthcare institution adopting the system, and the patient population being watched.
Remote patient monitoring systems, on the other hand, are frequently viewed as a cost-effective way to improve patient outcomes and reduce healthcare costs by allowing healthcare providers to remotely monitor patients and intervene earlier if necessary, potentially reducing the need for costly hospital readmissions and emergency department visits.
According to research conducted by the Deloitte Center for Health Solutions, remote patient monitoring has the potential to cut hospitalizations by 17%, emergency department visits by 15%, and the cost of treatment for patients with chronic conditions by $1,173 per patient per year.
While the initial cost of a remote patient monitoring system may be high, the potential cost savings and improved patient outcomes can give a good return on investment over time. It is crucial to highlight, however, that the particular investment and return ratio will be determined by the unique conditions of each healthcare institution and patient group.
A cost-effective remote patient monitoring solution
The remote patient monitoring solution provided by Dusun IoT makes use of the most advanced Internet of Things technology to enable interaction between patients and medical staff, medical institutions, and medical equipment. As the primary remote vital sign monitoring equipment.
The IoT gateway can upload data that Bluetooth-based remote patient monitoring devices such as ECG stickers, blood glucose meters, insulin pumps, heart rate bracelets, body temperature stickers, and so on perceive and collect to the plate server clod former, enabling real-time remote transmission and management of physical sign data.
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It is worth mentioning that Dusun IoT’s gateways and devices are FDA-approved and simple to use. The Dusun DSGW-021 Bluetooth Roaming Gateway activates the API interface, allowing you to connect to numerous systems and platforms. And the gateway has a typical LUCI setup page, making clouding on the device easier. These are the distinct advantages of Dusun IoT in remote patient detection systems, allowing customers to save more time and money on docking.
Please do not hesitate to fill out the side form to contact us, our engineers will recommend the most suitable gateway for your IoT project and tailor a remote patient monitoring solution for you.
Benefits of remote patient monitoring FAQs
What conditions qualify for RPM?
Chronic ailments that benefit from RPM include hypertension, diabetes, congestive heart failure, and obesity, whereas acute conditions include more transient or minor illnesses such as asthma, nausea, or the common cold.
Can hospitals bill for remote patient monitoring?
Remote patient monitoring codes are considered evaluation and management (E/M) services and can only be requested and billed by a healthcare practitioner or non-physician provider who is entitled to bill Medicare E/M services.
How can I get started with remote patient monitoring?
- Acknowledge your demand.
- Form a group.
- Establish goals for several goals.
- Choose whether to purchase or lease RPM devices.
- Choose patients for your RPM Program.
- Provide and engage.