Remote patient monitoring, as discussed in the first part of this series, is a booming industry that is set to fundamentally change the way that healthcare is delivered in the world today. While much of the focus is rightfully placed on the ways in which remote patient monitoring technology can improve patient outcomes, the reality is that all the parties involved in the delivering of care will be able to benefit.
In Part 2 of this series, we’ll take a closer look at the challenges faced by healthcare payers today, and demonstrate some of the ways in which remote patient monitoring systems may be able to benefit payers as the industry continues to change around them.
Remote Patient Monitoring Can Enhance Communication with Providers and Patients
Ensuring positive patient outcomes is a team effort. Remote patient monitoring provides a centralized, connected network through which patients, providers and payers alike can remain in contact more easily than by traditional means. This can help to improve patient communication and alleviate fiscal issues more quickly without disrupting a patient’s treatment.
Remote Patient Monitoring Programs Can Reduce Costs Affiliated with Chronic Illnesses
In a recent article by Healthcare Finance, it was found that 86 percent of all medical spending is attributed to chronic diseases. These costs include hospitalizations, doctors’ visits, prescription costs and more. Given the chronic disease epidemic ravaging the world today, payers run the risk of out-of-control costs affiliated with such conditions. But since remote patient monitoring systems allow patients to consult with doctors remotely, payers can protect their bottom line with a reduction of in-person visits or hospitalizations.
Remote Patient Monitoring Can Increase Preventive Measures
Remote patient monitoring systems allow doctors to keep closer watch over their patients on a daily basis. Simultaneously, patients are also empowered to take greater control over their own course of treatment. And because many remote patient monitoring systems feature tools that encourage patient compliance and preventive measures (such as reminders to walk, exercise or take medications), payers also end up as a beneficiary. Prevention and real-time monitoring keep small medical issues from becoming large, expensive ones due to neglect, further helping payers protect their bottom line.
Remote Patient Monitoring Can Improve HEDIS Scores
The Healthcare Effectiveness Data and Information Set (HEDIS) is a tool used by more than 90 percent of health plans in America today, and measures performance on important dimensions of care and service. This gives patients an ability to assess the performance of available health plans.
By introducing remote patient monitoring systems, healthcare payers have an opportunity to increase their HEDIS quality score, making them a more appealing option on the open market.
Learn more about how remote patient monitoring is changing healthcare today. And be sure to check back next week when we’ll be delving into the benefits of remote patient monitoring for healthcare providers.