Spyglass Consulting Group released its most recent healthcare report entitled Trends in Remote Patient Monitoring 2019. The study shows that 88 percent of hospitals and health systems surveyed have invested or plan to invest in remote patient monitoring (RPM) solutions to help care managers monitor and manage complex, high-risk patients with chronic conditions who are considered unstable and at-risk for hospital readmissions and/or unexpected emergency department visits.
“With the passage of the Affordable Care Act, hospitals and health systems are rapidly consolidating into larger integrated delivery networks and transitioning toward various at-risk payment and care delivery models, said Gregg Malkary, Managing Director of the Spyglass Consulting Group. “They are formulating strategies and deploying foundational technologies and processes required to support population health management programs focused on chronic disease management. RPM solutions have been identified as important early symptom management tool for managing large numbers of chronically-ill patients.”
Healthcare provider investments in RPM solutions are being driven by several underlying market factors including exploding healthcare costs, a rising aging Baby Boomer population, the increased prevalence of chronic disease and continuous healthcare professional labor shortages.
There are more than 133 million Americans representing 45% of the U.S. population who have at least one chronic disease. Chronic diseases are responsible for seven out of every 10 deaths in the U.S., killing more than 1.7 million Americans every year.
Early market adopters of RPM solutions are capitated managed care organizations with fiscal responsibility for their patients across the spectrum of care. This includes accountable care organizations, health maintenance organizations, home health agencies, hospices, disease management companies and government agencies including the Department of Veterans Affairs.
Healthcare providers have demonstrated that RPM solutions are clinically effective as an early symptom management tool when used to support patients participating in disease management and/or care coordination program to automate the collection of patient vital signs and symptomatic data, and proactively identify if a patient’s condition is deteriorating or becoming life threatening. Common chronic conditions monitored include congestive heart failure, COPD, diabetes, asthma, and hypertension.
Healthcare providers are struggling to develop a compelling return on investment to justify large-scale investments to expand existing chronic care management program(s) and leverage RPM technologies. Therefore, healthcare providers are encouraging patients to proactively manage their health. The survey found that 89% of providers have developed or are in the process of developing engagement strategies to encourage patients, family members, and caregivers to take a proactive role in managing their chronic conditions. They are leveraging mobile technologies including smartphones and tablets, deploying electronic health record (EHR)-based patient portals, offering telehealth video conferencing services and evaluating emerging healthcare wearables.
The full report is available for purchase.
