Though remote patient monitoring (RPM) has been around for quite some time, its acceptance has been low. However, its adoption has increased immensely since the onset of the pandemic. According to the Consumer Technology Association, 68 % of healthcare companies favor using RPM solutions to manage high-risk patients’ health effectively. At the same time, more than 88% of hospitals are planning to invest in RPM systems.
“Consumers are not only becoming aware of telemedicine, but they are starting to demand access to it,” says Jonathan D. Linkous, CEO of the American Telemedicine Association. As a result, it is becoming a part of the national standard of care that should be made available throughout the country.”
It is expected that the use of RPM devices will increase by 12.5% in this decade. Considering the high pressure on hospitals due to the current circumstances and how costly patient care has become, this trend shouldn’t surprise. Today, we will be talking about how remote health monitoring is transforming the healthcare industry.
Read down below to find out more about RPM and the impact of technology on healthcare.
What is Remote Patient Monitoring (RPM)?
Remote patient monitoring (RPM) is a technology used to monitor patient health outside of a hospital/clinic. This specific technology helps to transmit information electronically between healthcare providers and patients, and it is just one delivery system within the broader telemedicine industry.
How Remote Patient Monitoring Helps Doctors and Patients?
Though RPM systems can’t take the workload off the healthcare workers, they can still accommodate the job for healthcare providers by providing access to improved remote healthcare for patients.
People warmly welcome advanced technology in healthcare such as RPM since they help reduce hospitalization costs and nursing costs by providing them much greater involvement of their help.
There are many more benefits; for example, remote patient monitoring systems allow people to recover at home by helping them understand their health conditions. Also, it helps chronically sick people to take better care of themselves at home, eliminating the need to visit hospitals frequently. Moreover, since patients can take care of themselves at home, it also helps keep them safe from physical contact, further increasing the risk of contracting the covid-19 virus.
Since people can take care of themselves at home, doctors and other healthcare providers can properly focus on critically ill patients and can’t be cared for at home. Most importantly, since RPM can effectively treat patients at home, more hospital beds would be available for those patients who critically need them.
Since investment in RPM helps cut down the excessive cost of care, healthcare insurance companies can also benefit from this advanced solution.
Top Remote Patient Monitoring Companies
Since RPM technology helps enhance patient care, reduce costs, cut down on expensive services and provide quality healthcare at home, legacy players and healthcare industry startups are eager to mark their positions in the growing market.
Among the top RPM solution providers are:
- Honeywell Life Sciences
- Philips Healthcare
Future Trends for Remote Patient Monitoring Technology
According to Insider Intelligence, RPM tools will be used by 30 million US patients, or 11.2 percent of the population, by 2024, representing a 28.2 percent increase from 23.4 million patients in 2020.
Custom healthcare software development companies providing RPM-enabled home health facilities and other telemedicine solutions are already successfully reducing hospital readmission penalties. For instance, the University of Pittsburgh medical center helped mitigate the risk of hospital readmissions by 76%— and held patient satisfaction scores over 90%.
According to a KLAS Research report that surveyed 25 healthcare companies, 39% of healthcare companies utilizing RPM solutions for chronic care management showed lesser admissions, whereas 17% cited cost reductions.
Many custom healthcare software development companies are helping caretakers with RPM solutions that can be joined to their EHR easily and securely. This enables caretakers to analyze insights and data inside EHR and other information regarding the health of the patient.
All in all, both; healthcare providers and patients are looking forward to adopting RPM technology to take full advantage of the benefits digital health services providers. In the coming years, we can expect to see a significant increase in remote patient monitoring devices in healthcare.
RPM technology and solutions are bound to act as a catalyst for the healthcare industry to develop better treatments and solutions under the healthcare technology umbrella in the coming years. Looking for a reliable healthcare software development company? You can go to different online platforms and choose the best company according to your needs and requirements.