Like so many things in medicine, a remote patient monitoring system could be financed a number of ways. And, as the demand and understanding of remote patient monitoring grows, no doubt will the number and types of payers footing the bill.
For Health Numeric, many of our clients are home health providers looking to provide a higher standard of care to their patients while reducing the amount of time their staff spends on travel. Because our system is a complete Care Circle, everyone from the patient’s children to his or her home nurse to the referring physician is linked together. The personalization allows the right people to be notified when self-recorded readings are outside of a set range. This system makes an ideal addition to the services of a home health company.
However, a number of other groups are becoming involved with paying for or reimbursing remote patient monitoring—including Medicare. Utilizing the code for chronic condition management, Medicare will reimburse for up to 20 minutes per patient per month of non-face to face appointments. Even now, some private insurers are following in the footsteps of Medicare in this area, but not many.
As we move from the fee for service model of care into the ACA, it’s inevitable that more of these telehealth solutions (including remote patient monitoring) will be relied upon by hospitals, physicians, and insurance companies to reduce hospital readmission rates. Health Numeric can be a key part of the team when patients return from a hospital stay and need to be monitored for a chronic condition. Click here to learn more about the Care Circle and the ROI of remote patient monitoring from our white paper.