2022 Update
Current State of Remote Monitoring
What you will find:
What is Remote Monitoring?
Why is it growing?
The benefits of Remote Monitoring.
How it is used.
We’ve packaged together all of the information in this report in one convenient PDF.
If you haven’t already, be sure to check out part 1 in the series - AVIA Connect’s Top 50 Remote Monitoring Companies - to find vendors shaping the space.
What is Remote Monitoring?
SHORT DEFINITION
“The ability for patients to share biometric and other data from a non-clinical setting with their care team as a part of a provider-supported program of care.”
LONG DEFINITION
Real-time data.
Remote Monitoring (RM) uses real-time data to prevent or slow disease while reducing the need to visit a doctor.
Expanding coverage.
RM is a reimbursable service, with its own CPT code since 2018, and condition coverage has expanded during the pandemic.
Across devices.
The data is collected using various devices (handheld, wearable, implanted), e.g. scales, blood pressure cuffs, heart monitors etc.
Chronic and acute.
Coverage includes both chronic and acute conditions, and also reimburses monitoring medication adherence.
Proactive care.
The use of RM is expanding beyond monitoring and reactive care, to providing proactive care for rising-risk patient groups.
Why is it growing?
OLD MODEL
The ‘healthcare system centered’ model led to massive inequalities in access to care, particularly for minorities.
These disparities were estimated to cause $93bn in excess medical care costs and $42bn in lost productivity annually.1
Many healthcare systems were reluctant to implement RM because of the inability to bill appropriately. While certain RM activities were reimbursable for certain conditions, the revenue opportunity was not significant.
NEW MODEL
The pandemic has accelerated the adoption of digital-first alternatives, which allow for more patient-centric approaches.
Patients are increasingly open to virtual care, with 82% saying it is equal to or better than in-person care.2 56 health systems in 29 states are providing acute hospitals services in the home. 3
The inclusion of Remote Therapeutic Codes in the 2022 Physician fee schedule suggests a permanent change in digital health policy.
COVID, regulation and client preferences are creating the ideal tailwinds for growth in Remote Monitoring.
The benefits of Remote Monitoring.
Revenue Driver
Rising needs population and increasing reimbursement.
Cost Efficiency
More timely detection and intervention reduces wasted effort.
Patient Outcomes
Higher engagement & improved results.
$1.8m+
Per 50k Medicare Fee-for-Service patients, health systems capture $1.8m+ in new annual revenue with remote monitoring services.4
~$120
An average practice delivers ~20 minutes of RPM care management, equating to total monthly reimbursement to ~$120 per Medicare beneficiary.5
$13.2m
Per 10k pregnancies at risk of poor outcomes, systems capture $13.2m in cost savings by improving care and outcomes with remote monitoring.6
75%
A study involving 300 patients with congestive heart failure found that a videoconferencing solution led to 75% fewer readmissions compared with a conventional approach.7
87 NPS
A Remote Monitoring digital program covering 13,000 patients across 10 states experiencing hypertension reported an overall NPS of 87.8
>31%
One study found that Remote Monitoring reduced ED visits by 31% for COPD patients (n=214) and 46% for patients with congestive heart failure (n=1,018).9
Moving care outside traditional setting unlocks benefits for both patients and providers.
How it is used.
POPULATION TYPES AND APPLICATIONS
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E.g., CHF, COPD, Hypertension, Diabetes, Asthma, Obesity, Perinatal care, Congestive Heart Failure.
This group accounts for 50% of the US population (ACR Open Rheumatol. 2020 Mar), and 86% of healthcare costs (Am J Prev Med. 2017 Dec).
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83.4 million adults in the US are expected to have three or more chronic conditions by 2030, up from 30.8 million in 2015 (Partnership to Fight Chronic Disease, 2018).
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This group includes adults (particularly seniors) with comorbidities requiring complex interventions.
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Adults’ clinical needs after surgical procedures (e.g., joint replacement) or other cases that involve hospitalization.
COMMON USE CASES
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Care plan adherence, condition/symptom surveillance, wound/pain management, education, clinical interventions, and rehabilitation.
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Care coordination, care navigation, and medication reconciliation & optimization.
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Symptom surveillance, education, coaching, medication adherence, and regular check-ins.
Remote Monitoring is a versatile and evolving category. It offers treatment where a patient lives and spans acuity level - ranging from preventative to ‘hospital at home’.
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