Why Insurance Companies Are Investing Remote Patient Monitoring

 


Covid-19 has changed everyone’s life drastically. Numerous systems and platforms have been affected by this and one of the most affected industries is the healthcare industry. The exceptional circumstances of the pandemic served as the great push towards Remote Patient Monitoring (RPM) and Telehealth. Now, these are considered as the new normal.

Many insurance companies, as well as the healthcare systems, are very much prone to this reality. Hence, they are opting to invest in different forms of telehealth technology, like RPM and virtual healthcare. The advancement in these technologies has resolved several issues faced by the health industry, thereby enabling the providers to give the best care to the patients at a significantly low budget.

Presently, remote healthcare is the new normal. The insurance companies are catching up with the reality and most of them are investing in different forms of telehealth technology and Remote Patient Monitoring. Whatever issues that are faced by the healthcare industry today are resolved in a quick span of time, thereby enabling the providers to deliver high-quality care to the patients.


Need of Investing in RPM

Telehealth and RPM is a new standard in the healthcare industry and are offering immense benefits to the patients as well as the providers. Below mentioned are the ways how investors are investing in RPM and getting benefited through this.

Personal Care: With RPM and Telehealth solutions, the investors can personalize the treatment plan as per the needs of the patients. The healthcare providers can provide modified incentives and treatment experience on the basis of an individual’s interest and convenience level. Besides, RPM solutions can be based on every patient’s current condition, collected, and risk profile. This turn helps the patients to get treatment in a proper way rather than an all-around approach to treatment.

Self-management and Reduction in Hospital Admissions

RPM tools allow patients to be more active in their personal care plans. Approximately 81% of Americans use Smartphones and they are able to monitor their biometrics, blood pressure, oxygen level, and communicate with the healthcare team with few clicks of a button. Moreover, self-management may lead to a considerable reduction in cost. Majority of the RPM and telehealth solutions enables the patients to manage their chronic conditions from their home. Now, they are active in taking care of themselves, thereby avoiding hospital stays.

In the year 2018, an RPM survey was conducted by Healthcare Dive, where nearly 38% of the healthcare organizations confirmed that RPM resulted in few patient admissions. Advanced RPM system helps the providers for enhanced monitoring and management of high-risk patients. For instance, as per the University of Pittsburg Medical Center, there has been a reduction in hospital admissions after the patients started using RPM equipment.

Enhanced Patient-Provider Communication

With increased patient care in recent times, the healthcare industry providers are searching for ways to include more patient-provider communication. This helps the patients to feel much better about their health. Likewise, the insurance providers are the same.

All the more, remote healthcare monitoring is enhancing patient fulfillment scores in hospitals as well as clinics. This is one more reason why insurance providers are providing backup and monetary incentives for health organizations to execute RPM and Telehealth solutions.

Progressive Technology

There has been an increase in the demand for RPM equipment and this has lead to the development of technological advancement. Innovative RPM solutions are implemented everywhere and their improvements include faster algorithms, predictive monitoring, and advancement in machine learning. Nowadays, the insurance providers are showing their interest via reimbursement programs, and this way they are investing their own time and money to improve the technology.

Resource URL:- https://medtel.io/blog/insurance-companies-remote-patient-monitoring/

Comments

Post a Comment

Popular posts from this blog

Remote Patient Monitoring Devices for Better Pregnancy Care | MedTel Healthcare

Image
  Existing healthcare remote patient monitoring devices are not just limited to hospital settings. There have been numerous advances in recent years that have given rise to home healthcare remote patient monitoring devices. These remote patient monitoring devices are specifically designed to cater to pregnant women. It is becoming increasingly important for pregnant women to have a remote patient monitoring device in place to ensure that they have access to proper healthcare. What’s There In The Solution Connected Devices Access to certified and bluetooth connected Blood pressure monitor, Glucometer, Hemoglobinometer, Body composition analyzer and Fetal heart rate monitor. Track vital measurements and analyze trends in data. Support at your finger tips One-on-one support through care providers (Doctors, Nurses and coaches). Real-time technical support for devices and abnormal results. Better connected to healthcare providers, enabling timely interventions. Visit Us:-  https://...
Read more

Pregnancy Monitoring Devices that monitor the baby's contractions | MedTel Healthcare

Image
  Connected Devices Access to certified and bluetooth connected Blood pressure monitor, Glucometer, Hemoglobinometer, Body composition analyzer and Fetal heart rate monitor. Track vital measurements and analyze trends in data. Support at your finger tips One-on-one support through care providers (Doctors, Nurses and coaches). Real-time technical support for devices and abnormal results. Better connected to healthcare providers, enabling timely interventions. Nudges and Alerts Step-by-step guide to lower and maintain normal blood pressure levels. Personalized nudges and reminders to help patients stay on track and take charge of their health. Visit Us:- https://medtel.io/pregnancy/
Read more

Enabling Efficient Healthcare with IoT | MedTel Healthcare

Image
  young woman doctor in a white coat with a stethoscope around her neck looking at camera confused, smiling spreading arms to the sides standing over orange background We are thick in the age of the internet. Devices as tiny as the size of a coin can be internet-enabled. In fact, so common are internet-enabled devices that by the year 2030, there will be an estimated 50 billion connected devices around the world. This network of internet-compatible devices is known as the Internet of Things (IoT) and comprises everything from consumer electronics to automobiles and even traffic lights. A growing number of devices are aimed at a certain sector with the capacity to truly revolutionize the world: healthcare. Thanks to this connected ecosystem, also known as the Internet of Medical Things (IoMT), doctors are able to track patient metrics and administer care, all in real-time. According to Fortune Business Insights, the IoMT market is estimated to hit USD 142.45 billion by 2026. This gr...
Read more