Remote health monitoring has emerged as a viable, profitable, and valuable care model. Recently,...
Remote health monitoring has emerged as a viable, profitable, and valuable care model. Recently, remote monitoring has transformed into a solution that is gaining wider acceptance from medical workers, clients, insurers, and family members.
As a result, home health care agencies find that remote monitoring provides an ideal solution for meeting increased demand while improving the quality of care. As a profitable solution that everyone welcomes, remote monitoring is likely to play an increasing role in all facets of healthcare.
Not sure if remote monitoring is right for your home health agency? Check out the statistics and facts below.
Facts About Clients Utilizing Remote Health Monitoring
- There are many users in the group already -
A recent study conducted by Insider Intelligence found that 23.4 million US patients used remote monitoring services and tools in 2020. (Source: Business Insider)
- The group is growing –
The same Insider Intelligence study reports that the number of US users of remote monitoring services and tools is expected to grow to at least 30 million by 2024. (Source: Business Insider)
- Your clients and their families are ready –
A June 2021 MSI International survey found that 80% of Americans favor using remote health monitoring. (Source: MSI International)
- Remote monitoring improves satisfaction rates –
The University of Pittsburgh Medical Center found that satisfaction scores rose to over 90% for groups equipped with remote monitoring equipment. (Source: University of Pittsburgh)
Facts About Healthcare Providers Utilizing Remote Health Monitoring
- More healthcare workers are utilizing remote monitoring -
Nine out of ten healthcare providers reported investing in or evaluating remote monitoring options in 2019. (Source: Spyglass Consulting Group)
- Offering remote monitoring attracts new clients -
About 25% of consumers stated they would switch providers to access telehealth. (Source: Amwell)
- Remote monitoring helps you better support your physician partner -
Twenty percent of large healthcare facilities have adopted some form of remote monitoring. (Source: HealthTech Insider)
- Physicians are already using remote monitoring, and home health can too –
A poll of 1300 physicians revealed that 8 out of 10 see patients via video or telephone. (Source: Sermo)
Facts About Coverage and Reimbursement for Remote Health Monitoring
- Medicare covers remote monitoring for home health agencies.
More than half of state Medicaid programs reimburse for remote health monitoring – in many cases, reimbursement is offered exclusively to home health agencies. (Source: CCHP)
- Earn $120 per client per month
Medicare increased reimbursement for remote monitoring to $120 per client per month. If just 50 clients are enrolled, the agency can expect to generate $72,000 a year in revenue. (Source: Centers for Medicare & Medicaid Services)
- Just 20-minutes of monitoring a month can generate $1,400 a year per client.
By delivering 20 minutes of remote patient monitoring per month, each Medicare beneficiary can generate reimbursement of about $1,400 over 12 months. (Source: Prevounce)
The CareMate team has extensive experience supporting home health agencies as they successfully incorporate remote monitoring to improve the quality of care while increasing business and developing new profit centers. Contact our experts today to see how your agency will benefit by incorporating remote monitoring.