Remote patient monitoring (RPM) is rapidly transforming how healthcare systems deliver care. Through continuous patient monitoring and real-time data collection, RPM can significantly improve patient outcomes while reducing care costs — a fact confirmed by a 2022 systematic review.
However, success with RPM requires a well-designed program and an excellent vendor. The same review found that long-term benefits, particularly the prevention of costly health events, are crucial for financial savings – and that the return on investment can vary widely by RPM programs.
An RPM program's cost-effectiveness depends heavily on the upfront investment, implementation process, and clinical application – all of which depend on the RPM vendor chosen by a health system. To reap the maximum benefits, large health systems need a clear framework to assess potential vendors and optimize their RPM budgets.
Beware of Potential Hidden Costs
One of the most crucial steps in managing RPM costs is identifying and avoiding hidden expenses that can undermine potential savings. For example, device limitations — whether it's poor usability, lack of flexibility, or integration issues — can make it tough for patients to use the devices correctly and frustrate clinicians trying to make sense of the collected data. This problem becomes even more significant if a health system is locked into large upfront device purchases, potentially leaving the program with a storage room full of unusable inventory.
It's also vital to choose devices and an RPM program optimized for reimbursement. Specific rules dictate reimbursement eligibility, and failure to comply can severely impact a health system’s ability to recoup costs and see a positive return on the RPM investment.
Key Considerations for Large Healthcare Practices
Here are the six non-negotiable factors to consider during the RPM vendor selection process.
- Funding Model. Before launching into the details of selecting a vendor, make sure you understand the true problem you are trying to solve with your RPM program. Ensuring strategic alignment with your healthcare system’s goals and initiatives is key to funding and ensuring you can measure success. Define what success for your RPM program looks like in the beginning, and assess what the risks of not creating a program may be.
- Integrated Workflows. Seamless integration with your healthcare system’s EHR is essential for a successful RPM program. Your chosen vendor must offer a solution that works as a natural extension of your existing workflows, not a separate system that creates silos and inefficiencies. To that end, health systems should have an idea of their minimum requirements for integration, as well as the benefits they want to get out of the integration. For example, if the health system will be seeking reimbursement, ensure the integration supports streamlined billing workflows.
- Device Logistics. A unified approach to device management and data collection can be extremely helpful. Working with multiple vendors can create fragmentation and compatibility issues. Instead, seek a vendor that secures devices from manufacturers and provides you with both the devices and the platform, streamlining processes and ensuring your clinical team has a single, comprehensive view of patient data for optimal decision-making.
On a more practical level, your RPM vendor should ease the entire process by storing the devices, streamlining inventory handling and distribution. This will allow you to offer a range of devices to personalize for diverse programs and patient populations with the lowest burden at the best cost.
- Device Security. Patient data must be kept secure and private, so prioritize vendors with proven HIPAA compliance. In addition, take into account the vendor's stability and history of success. You want a reliable partner with the capacity to support your RPM program's long-term growth and evolution.
- Scalability. Your chosen vendor must be capable of scaling your RPM programs to support multiple departments, varied use cases, and your organization's anticipated growth trajectory. Look for solutions that support today’s operational challenges — such as vendors that can create efficiencies or reduce manual tasks. Since healthcare staff positions can be expensive and difficult to fill — and since overextended nurses and clinicians can get burned out — select a solution that leverages advanced technology to ensure a reduction in workload.
Additionally, consider the vendor's ability to provide staffing support in areas like patient enrollment and ongoing education. This can significantly relieve the burden on your internal teams, ensuring the RPM program functions smoothly while maintaining the focus on quality patient care.
- Investment Requirements. Carefully analyze the RPM solution's cost structure and how it aligns with your financial processes. Can you get started with a smaller upfront investment that fits comfortably within departmental budgets, simplifying the approval process? Compare this to the potential need for large, institution-wide capital funding, which may involve lengthier approval timelines. Other important variables to factor in include ongoing maintenance, potential upgrades, and any vendor-specific fees. Make sure you have a complete picture of the long-term financial commitment required.
Other nice-to-haves for an RPM vendor include customization options like white-labeling and branding and robust data and reporting capabilities for program evaluation – though these features are not as crucial as the core six must-haves.
Balancing the potential for financial savings with the upfront investment requires careful consideration. At Veta Health, we offer innovative RPM solutions designed for seamless integration with existing EHRs. Our focus on streamlined logistics and minimized upfront costs empowers healthcare systems to embrace RPM with confidence. Ready to explore how Veta Health can revolutionize patient engagement and elevate your healthcare delivery? Connect with us today.
