How Remote Patient Monitoring Can Save Time And Money

Remote patient monitoring is increasingly becoming the talk of the town, primarily because of the plethora of social and economic changes brought about by the Covid-19 pandemic. Remote patient monitoring has emerged as the most effective technological advancement in the healthcare industry and has exemplified the efficient use of technology-based solutions in order to reduce error rates, cost of carrying out processes, wait times, and undertaking remote work.

Related: How To Set Up A Remote Patient Monitoring Program?

Remote patient monitoring has also allowed medical professionals to replace manual, slow, and prone-to-error processes with automated and faster ones that proffer more accurate healthcare administration, higher patient satisfaction rates, and relevant data to medical professionals and patients alike.

So, what problem has remote patient monitoring solved for it to emerge as such a globally beneficial phenomenon? This article delves right into its significance in saving time and reducing expenses.

Let’s get into it!

Related: What Makes RPM And Telehealth Different?

Is Remote Patient Monitoring effective?

Research shows that more than 75% of U.S consumers expressed their desire to use different healthcare services if they were available to them. In addition, 70% of patients believed that they were comfortable interacting and communicating with their healthcare provider using advanced technologies and tools like email, text messages, and video instead of one-on-one communication. 

Electronic gadgets and modern devices are already in use by about 30% of patients, making it easier for them to look for diagnostic and medical information.

All of these statistics point toward the shifting trend towards telemedicine and remote patient monitoring, both of which help us save time and money.

Related: Value Of Remote Patient Monitoring For Patients

How does Remote Patient Monitoring save time and money?

Little or no travel to and from appointments

Remote patient monitoring eliminates the need to commute to and from a medical practitioner’s clinic. Depending upon a patient’s condition, they may be able to get the required information, diagnose their illness, and receive continuous healthcare assistance from either an automated medical service or a doctor, right from the comfort of their home, by using personal digital gadgets.

In addition to using computers, tablets, and mobile devices for email, video, text messages, or phone calls, remote patient monitoring also functions through specialized gadgets explicitly made for certain kinds of ailments. 

These gadgets can not only store accurate information for more extended periods and relay them to a doctor automatically but can also intimate to a medical professional if a patient’s vital signs show abnormalities. 

Related: Does Remote Patient Monitoring reduce Acute Care use?

The doctor can then contact the patient remotely and look through the data to immediately determine the causes of fluctuations. This would otherwise take longer periods of time, starting from appointment booking and commuting to looking through a doctor’s clinical hours.

Thus, eliminating such geographical borders both reduces the cost of consulting with a doctor and saves substantial amounts of time, making it easier for a patient to connect with a doctor.

Waiting times elimination

Extensive lines and long waiting times at a doctor’s office are an ordinary happening at almost all clinics and hospitals. It is not uncommon to wait about thirty minutes or more to visit a doctor, and this phenomenon poses loads of difficulties for patients whose medical conditions require continuous checkups.

Thus, remote patient monitoring eliminates this difficulty by allowing patients to immediately communicate fluctuations in their medical conditions to a medical professional right from their home.

Reduced cost

Overbooked, slow, and inadequate in-person health visits cost us a considerably large amount of money. Patients and their caregivers usually have to take time off from work, pay for commuting and parking spots, and generally pay a babysitter to be able to speak to a doctor. These costs add up quickly, especially for patients who require immediate and continuous medical attention.

Related: Using Remote patient monitoring to Manage Hypertension

Telehealth eliminates all such costs and makes healthcare affordable and easily accessible to patients without having to make changes in their schedule. A report showed that the average cost for a video-based virtual visit is about $50, which is lower than the approximate $85 treatment at a medical professional’s office for uncomplicated health issues.

Visits for serious ailments at an urgent care facility usually cost $130 on average, with the average emergency room visit coming up to about $740. Thus, remote patient monitoring can allow considerable savings. 

Telehealth service providers usually provide virtual or electronic medical consultations at a fixed, per-meeting rate, which allows a great deal of predictability to a patient. Medical health providers can also reduce their operational costs by opting for a remote service rather than a brick-and-mortar service location and working for fewer hours every day. 

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