Trends in Remote Patient Monitoring 2019

Publication Date:           October 2019
Number of Pages:          92
Number of figures:         33
Report Price:                 $2,495 U.S. Dollars
                                  
enterprise pricing available upon request

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Introduction  (download paper overview)

Trends in Remote Patient Monitoring 2019 presents the findings of
an end-user market study focused on the market opportunities and
challenges for US-based healthcare provider organizations who have
developed strategies and are considering new or incremental
investments in remote patient monitoring (RPM) solutions.  These
solutions enable risk-bearing organizations to remotely monitor and
manage high-risk patients with chronic conditions including CHF, COPD,
Diabetes, Hypertension, and Asthma in order to help control healthcare
costs, improve care quality and outcomes, and increase access to care
for patients living in underserved rural/remote areas.  

Spyglass surveyed one hundred (100) clinical informatics and health IT
thought leaders who are technically competent and knowledgeable about
telehealth/telemedicine.  They were affiliated with leading integrated
delivery networks, community hospitals, ambulatory environments, home
health agencies, and government organizations.  The survey was
designed to gain an understanding of RPM from the viewpoint of a
healthcare provider organization and was not intended to be an
evaluation of existing vendor solutions or strategies.  

The telephone interviews were conducted over a three-month period
starting in April 2019. During the interviews, Spyglass identified the
market requirements for RPM solutions through discussions about:
  • impact and benefits for deploying RPM for supporting population
    health,
  • existing workflow inefficiencies in managing chronically ill patients,
    and
  • challenges for integrating RPM with existing clinical processes,
    infrastructure and tools.

Spyglass also evaluated several early adopter healthcare organizations
that have successfully deployed R
PM solutions.


Target Audience

  • Software and hardware vendors, systems integrators and
    management consulting groups who are selling hardware,
    applications and services into the healthcare industry
  • Healthcare administrators and IT executives who are making
    strategic decision to fund clinical information technology solutions
  • Clinicians who are involved in informatics and clinical system
    evaluation and selection
  • Investment bankers and private equity investors


Abstract

Healthcare providers are making investments in Remote Patient
Monitoring (RPM) solutions to help transition to value-based healthcare.  
These solutions have been demonstrated to be clinically effective as an
early symptom management tool when used in conjunction with a
comprehensive disease management and care coordination program to
automate the collection of patient vital signs and symptomatic data, and
proactively identify if a
patient's condition is deteriorating or becoming life
threatening.  

Market drivers.  Healthcare provider investments in RPM solutions
are being driven by several underlying market factors including explo
ding healthcare costs, a rising aging baby boomer population, the increa
sed prevalence of chronic disease, and c
hronic labor shortages.  More
than 133 million Americans representing 45% of the U.S. population have
at least one chronic disease.  Chronic diseases are responsible for
seven out of every 10 deaths in the United States, killing more than 1.7
million Americans every year.

Early market adopters.  Early market adopters of RPM solutions are
capitated managed care organizations with fiscal responsibility for their
patients across the spectrum of care.  This includes accountable care
organizations, health maintenance organizations, home health agencies,
hospices, disease management companies and government agencies
including the Department of Veterans Affairs.  The primary investment
driver for RPM solutions has been cost avoidance which has helped orga
nizations reduce hospital readmissions, emergency department visits,
and overall healthcare utilization.

Return on Investment.  Health care providers is struggling to develop
a compelling ROI to justify large-scale investments to expand existing
chronic care management program(s) and leverage RPM technologies.  
Clinical trials have been limited in size and scope, payer reimbursement
is dominated by fee-for-service contracts, and there is a limited
understanding of the costs associated with managing chronically ill
patients across the care continuum.  

Value-based care imperative.  Healthcare providers, with the passage
of the Affordable Care Act, are rapidly consolidating into larger
integrated delivery networks and transitioning toward various at-risk
payment and care delivery models.  Many are formulating strategies and
deploying foundational processes, infrastructure, and tools required to
support population health management programs.  Provider
organizations have an imperative to expand their existing chronic care
management program(s) and to evaluate innovative RPM technologies
that could help manage value-based risk associated with large patient
populations with complex chronic conditions.

Healthcare provider RPM investments are helping drive the transi
tion to value-based care.
 88% of providers surveyed have invested or
are evaluating investments in RPM technologies to support high-risk
chronically ill patients whose conditions are considered unstable a
nd at-
risk for hospital readmissions.


Healthcare providers are encouraging patients to proactively
manage their health.
 89% of providers surveyed have developed or
are in the process of developing engagement strategies to encourage
patients, family members, and care givers to take a proactive role in
managing their chronic conditions.  They are leveraging mobile
technologies including Smartphones and Tablets, deploying EHR-based
patient portals, offering telehealth video conferencing services, and
evaluating emerging healthcare wearables.  

Healthcare providers are facing significant RPM deployment
challenges.
 Majority of providers surveyed have limited budgets and res
ources to expand their care management program(s), RPM tools and
data are not well integrated with existing clinical information systems and
workflow, and they lack the clinical programs, personnel, processes and
tools to take advantage of CMS’ new CPT codes that provide
reimbursement for RPM equipment and monitoring services.  
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