The cost of implementing and maintaining an RPM program will vary significantly, with yearly expenses per patient ranging from a few hundred dollars to upwards of $5,000. Because there are so many variables, it’s difficult to pinpoint an exact answer. A better way to ask this question is: Is remote patient monitoring worth it? We certainly think so. Let’s look at high blood pressure for a moment:
- Nearly 1 in 2 US adults (116 million) has high blood pressure, and most of them (92 million) may need to both change their lifestyle and take prescription medicine.
- About 3 in 4 US adults with high blood pressure (92 million) don’t have it under control (defined as blood pressure less than 130/80 mm Hg)
- The CDC reports that using team-based care that includes a pharmacist could prevent up to 91,900 heart attacks, 139,000 strokes, and 115,400 cardiovascular deaths over 5 years among US adults with uncontrolled high blood pressure.
- The NIH reports that 48% of adults have high blood pressure, with direct costs in excess of $130 billion per year.
There’s clearly a problem here. But do the statistics show that remote patient monitoring is effective when treating high blood pressure? The answer is yes. NIH’s study of RPM intervention found it was effective at increasing blood pressure control and decreasing systolic blood pressure at 90 days after implementation. Additionally, they found that the comprehensive RPM program was able to significantly reduce office-based visits during the study period and was financially feasible and cost-effective.
Another study analyzed the cost of implementing an RPM program in the primary care setting. Measures included total and average annual costs, costs per participant who was enrolled or completed the program, and costs per person-day and impact of remote monitoring for patients with Type 2 diabetes. And while this is just one specific example, it was found that:
- The total combined implementation cost for all practices was estimated to be $4,374,544.
- The average per-patient cost was found to be roughly $24 per day.
Of course, without added context, these figures don’t necessarily tell the full story. A more useful way to think about the costs associated with RPM is to consider the ROI of these programs. And a majority (73%) of healthcare executives can vouch for RPM’s ROI—and are actively looking to invest more into remote monitoring.
That same study also found that RPM “has positively impacted customer care” (76% of respondents) and increased customer satisfaction (67%) when employed as part of a comprehensive chronic care management program. It’s also affected customer retention and health outcome, prevented unnecessary visits/readmissions, and reduced how much it costs to deliver the care patients deserve and expect.
Let’s zoom out a bit and consider remote patient monitoring statistics like:
- The University of Pittsburgh Medical Center reduced the risk of hospital readmissions by 76% through the use of RPM.
- A survey of 25 healthcare organizations with RPM programs found that 38% reported reduced admissions and 17% cited cost reductions.
- Our internal data here at TimeDoc Health has shown that the healthcare providers we partner with have experienced 15% improvement in blood pressure control and 90% patient retention in Virtual Care Management programs.
These are just a few statistics, but over and over again, the results are the same: a properly implemented RPM program can have major benefits for patients and providers. As you consider the full picture—how RPM can improve patient outcomes and reduce costs for providers—the question becomes, can you afford NOT to implement an RPM program?
How RPM Can Save Money Overtime
Remote patient monitoring is cost-effective for both patients and providers. From the patient’s perspective, RPM means fewer in-person appointments—which also means fewer copays and fewer transportation expenses to make those appointments. They can also receive care in a more timely fashion, when needed, preventing their conditions from escalating and requiring an emergency visit or hospitalization.
Consider a recent study by the Journal of American Medicine Association, which suggests a correlation between RPM and positive, money-saving outcomes like “87% fewer hospitalizations, 77% fewer deaths, reduced per-patient costs of $11,472 over standard care, and gains of 0.013 quality-adjusted life-years.”
The provider’s side of the equation sees similar benefits. Reducing ER visits and unnecessary or preventable hospitalizations is a major factor, saving time as well as money. The ability to catch conditions early, implement timely interventions, and reduce the need for in-person visits similarly provides cost-related benefits for providers.
Start Saving Today with TimeDoc Health
Working with a remote patient monitoring vendor can save your healthcare organization money in the long run as you enjoy lower staffing requirements and increased efficiency. RPM can also help you provide better care to patients, reducing overall healthcare costs.
Visit our website to learn more about the benefits of remote monitoring with TimeDoc Health, or contact us to get started.
