A majority (88%) of hospitals and health systems surveyed by Spyglass Consulting Group, say they have invested or plan to invest in remote patient monitoring (RPM) solutions, according to its report, “Trends in Remote Patient Monitoring 2019.” These solutions will help care managers monitor complex high-risk patients with chronic conditions who are considered unstable or at risk for hospital readmissions and/or unexpected emergency department visits.
The report presents the findings of an end-user market study focused on opportunities and challenges for US-based healthcare provider organizations that have developed strategies and are considering new or incremental investments in 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 costs, improve care quality and outcomes, and increase access to care for patients living in underserved rural/remote areas.
“With the passage of the ACA, hospitals and health systems are rapidly consolidating into larger integrated delivery networks and transitioning toward various at-risk payment and care delivery models,” says Gregg Malkary, managing director of Menlo Park, California-based Spyglass Consulting Group, a market strategy firm focused on mobile technology usage within the healthcare industry. “They are formulating strategies and deploying foundational technologies and processes required to support population health management programs focused on chronic disease management. RPM solutions have been identified as important early symptom management tools for managing large numbers of chronically ill patients.”
Healthcare provider investments in RPM solutions are being driven by several underlying market factors including exploding healthcare costs, an aging baby boomer population, the increased prevalence of chronic disease, and continuous healthcare professional labor shortages, Malkary says. There are more than 133 million Americans representing 45% of the U.S. population who have at least one chronic disease.