Reasons Why Remote Patient Monitoring Is The Future Of Healthcare
The pandemic has pushed the telehealth industry flush into the mainstream and healthcare technology has become a cornerstone of today’s care delivery methods. Health restrictions during peak pandemic time meant physical patient visits weren’t possible which is when the telehealth industry came to the rescue of the waning healthcare landscape. A prominent branch of telehealth is remote patient monitoring which was in the spotlight for the good part of the pandemic as an equally effective or even better alternative to outpatient visits.
The need for constant patient monitoring for improved outcomes was always there even before the pandemic. RPM fulfilled this need by allowing physicians to constantly monitor patients without getting disengaged using digital devices and solutions. The fact that 88% of physicians approve of RPM as a potent healthcare delivery system indicates it has a bright future in the healthcare ecosystem. In this article, we will discuss the reasons why remote patient monitoring can have a lasting impact on the future of healthcare. Before diving straight into the discussion, let’s firstly understand what remote patient monitoring is.
What is remote patient monitoring
Remote patient monitoring is a virtual care delivery model that leverages the latest digital technologies to enable physicians to manage patients’ conditions remotely. Patients suffering from various types of illnesses including chronic diseases can majorly benefit from RPM and receive high-caliber medical care from the comforts of their homes.
With the help of digital health tracking devices, patients can self-record their healthcare data and electronically transmit it to their physicians for evaluation. Using RPM apps and cloud capabilities, physicians can then store, manage and access this data securely and conveniently and make informed medical decisions.
The RPM industry is slated to grow in value and reach USD 117.1 billion by 2025 at a CAGR of 38.2%. The benefits of RPM are numerous and wide-ranging which is why it’s a booming industry and one that will support the future advances in the healthcare system.
Remote patient monitoring devices facilitate the online healthcare industry
As mentioned earlier, RPM leverages digital health tracking devices to record and transmit patient data. The case of the online healthcare industry being a more effective and cost-efficient alternative to physical care delivery methods is further substantiated by RPM which has high patient satisfaction rates, increased chances of improved outcomes and is highly cost-efficient. An expressly stated reason for patient dissatisfaction with online healthcare is the complexity of using high-end devices and software. A majority of old-aged and chronically ill patients are tech-averse. RPM eliminates this problem by using contact-free, sensor-based health tracking devices that require little to no human inputs.
Furthermore, there are chances that physicians can overlook certain critical details during a physical visit which will never be the case with sensor-based RPM devices that evaluate patients’ vitals regularly. The threat of inaccurate data, physician disengagement and burnout and patients’ treatment non-adherence can be avoided using RPM. And hence, wasteful spending on overtreatment, undertreatment and low-quality treatment can be prevented making the online healthcare industry very cost-effective.
RPM also allows real-time health tracking, enabling physicians to determine which patients require urgent care and prioritize care delivery for maximum efficiency. The use of big data and AI in patient data analysis is another important feature of RPM and one that boosts treatment accuracy. And hence, RPM and its strategic utilization of the latest, cutting-edge technology greatly facilitates the online healthcare industry.
Remote patient monitoring benefits for physicians
1.Cost-effective – One of the salient benefits of remote patient monitoring is that it’s cost-effective. The annual healthcare expenditure in the US is staggeringly high and is experiencing a constant upward trend which makes cost-effectiveness a must. By enabling physicians to host consultations, access patient data and provide treatment recommendations remotely, RPM can significantly cut down overhead costs. Furthermore, CMS offers RPM service providers valuable monetary benefits.
2.Chronic care management – Chronic conditions account for almost 75% of the US annual healthcare spending. Reducing costs for chronic conditions require constant patient monitoring and high-quality treatment which is exactly what RPM can help physicians perform. Physicians can constantly monitor patients and intervene as soon as they suspect anything unusual, preventing serious aggravations. And when the risk of aggravation is prevented, the costs of expensive treatments and hospitalizations are automatically saved.
3.Improves patient outcomes – Physicians can host online consultations using RPM capabilities and reach patients living in remote areas as well as those who are bed-ridden. RPM makes high-caliber healthcare delivered by competent medical professionals more accessible than ever, thereby improving patient outcomes.
4.Reduces the pressure – Staff management burden is an eminent problem in the healthcare sector. By using RPM technologies, physicians can remotely treat patients from their place of choice without having to visit their clinics and hospitals, thereby reducing organizational pressure.
Remote patient monitoring benefits for patients
1.Reduces the travel time – A major benefit for patients enrolled in an RPM program is that they get high-caliber medical care from the comforts of their homes. Traveling to and fro regularly for routine clinic visits can be a hassle and can aggravate the patients’ conditions instead of improving their health. Furthermore, the time and resources consumed in traveling to the clinic can be burdensome for most patients. By remotely delivering care to patients, RPM cuts all these hassles.
2.Real-time data on patients’ health – RPM helps physicians be well-supplied with real-time patient data, enabling them to make the most relevant and accurate treatment decisions, thereby improving patient outcomes. Patients and their families can be relieved that a competent medical professional is constantly keeping tabs on their most updated health data.
Upcoming scenario of remote patient monitoring
Remote patient monitoring is here to stay as the demand for high-end technologies in the healthcare sector increases by the day. The benefits of virtual healthcare and the approval RPM is getting from patients as well as providers is a clear indication that online healthcare delivery is only going to grow and develop in the upcoming times. It’s estimated that RPM can virtualize around $250 million of annual healthcare spending, helping the US healthcare system save valuable costs. The Covid-19 health crisis proved to be a tipping point for the RPM scenario and now it’s only going to prosper with the advent of new, state-of-the-art digital technologies.
The convenience and ease of use that RPM offers for both patients and providers are unrivaled. Increased accessibility to quality healthcare and enhanced patient engagement in self-care are the direct results of widespread RPM programs in the current healthcare ecosystem. With mobile technologies on the rise, the cost-effectiveness, convenience and simplicity of RPM solutions are only going to get better.
If you are a healthcare practice looking to scale and explore an extra stream of revenue while also improving patient outcomes, adopt an RPM program today. A robust RPM program with capabilities for tracking, storing and analyzing patient data is just what you need to kickstart your RPM journey. If you are ready to jump on the telehealth bandwagon, get in touch with a reputable full-service online healthcare solutions provider today. The healthcare solutions provider can help you initiate an RPM program that is beneficial for you as well as your patients. To know more about their products and services, give them a call today.