Calculating Return on Investment for Remote Patient Monitoring Programs
August 9, 2013
Remote patient monitoring (RPM) technologies allow clinicians and patients to manage chronic diseases and post-acute care through home monitoring devices. Equipment such as weight scales, glucometers, and blood pressure monitors collect clinical and behavioral data, which is reviewed by a health care provider. As this type of remote care becomes more prevalent, evidence of its effectiveness is building.
RPM for congestive heart failure (CHF) has shown significant cost savings due to decreased hospital admissions and readmissions, avoidance of unnecessary ED and physician visits, better medication compliance, and improved communication between patients and clinicians. However, financial factors, including a lack of Medicare reimbursement, have limited the use of RPM in many health care practices.
To support the adoption and sustainability of remote patient monitoring, the Center for Connected Health (CCH) and the Center for Technology and Aging (CTA), with support from the California HealthCare Foundation, developed a tool to help organizations calculate the return on investment (ROI) in RPM technologies for the treatment of chronic heart disease. The tool can be used to determine the likely success of a potential RPM program, to assess the scalability of an existing RPM program, and to analyze an existing program as assumptions and conditions change. The ROI calculator for heart failure monitoring is user-friendly and publicly available as a web-based tool.
The CCH and CTA are looking to work with health care providers and companies interested in using the tool to inform RPM program planning, operations, and scaling. Interested organizations with active RPM programs for congestive heart failure and/or chronic obstructive pulmonary disease (COPD), regardless of type of technology, may contact Valerie Steinmetz for more information.
The ROI calculator is available through the External Link below.