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Remote Patient Monitoring & Telehealth Trends 2024

Harnessing Remote Patient Monitoring for Better Outcomes, Reduced Costs, and a Healthier Future

By Darren Hay – Vice President of Business Development – Medioh

The Decline of Traditional Telehealth Models

Recent shifts in the telehealth landscape, marked by the exit of key players like Walmart and Optum, showcase a pivotal moment in virtual care history. As the digital healthcare industry progresses, Remote Patient Monitoring (RPM) is positioned to refine this field. With its scalable and adaptable nature, RPM can reshape the healthcare delivery model, creating a future where proactive, patient-centric care is standard.

While the use of traditional telehealth services, primarily consisting of audio or visual meetings, has seen a decline in use among Medicaid users from 48% in 2020 to approximately 13% by the end of 2023, according to a recent CMS report, RPM presents a promising alternative. Initially praised for its convenience during the pandemic when traditional healthcare options were limited, the appeal of traditional telehealth services seems to have diminished as other options have become available. Physicians have noticed a shift in patient-doctor interactions, with traditional telehealth visits becoming more transactional than personal, raising concerns about their effectiveness in fostering long-term relationships.

Moreover, the oversupply of traditional telehealth services has led to price reductions and even free offerings, posing financial challenges for providers and potentially compromising the sustainability and future innovations of telehealth initiatives. Additionally, telehealth’s promise of improving healthcare accessibility has yet to be fully realized, particularly for underserved communities who continue to face barriers to care.

Telehealth Enhanced with Remote Monitoring

In contrast, RPM offers a proactive approach to patient care, leveraging wearable devices, sensors, and artificial intelligence (AI) to enable continuous monitoring and timely interventions. By utilizing the power of RPM, healthcare providers can deliver personalized care, leading to improved patient outcomes and reduced healthcare costs. As we navigate the evolving landscape of telehealth, embracing RPM as a transformative solution will be essential for ensuring the long-term success and effectiveness of telehealth initiatives, ultimately driving us towards a more equitable and sustainable future in healthcare.

Forecasted Growth of Remote Patient Monitoring

In recent years, the industry has witnessed a remarkable rise in remote patient monitoring (RPM) technologies, transforming the way healthcare is delivered and experienced. This shift towards continuous patient monitoring, both within and outside hospital settings, marks a significant leap forward in healthcare innovation. For instance, OMRON’s recent acquisition of Luscii Healthtech aims to address the challenges of remote patient monitoring. Luscii’s customizable platform offers solutions for over 150 diseases, facilitating seamless communication among various healthcare stakeholders, including general practitioners, hospitals, and community care providers. This integrated approach endeavors to enhance patient care delivery and outcomes across diverse healthcare settings.

But what’s driving this surge in remote patient monitoring? The answer lies in its many benefits, both for patients and healthcare providers. RPM offers continuous monitoring of vital health measurements, enabling proactive interventions and personalized care plans. This not only improves patient outcomes but also reduces healthcare costs and hospital readmissions. With projections from market researchers like Berkshire Hathaway estimating the global RPM market to exceed $116.84 billion by 2031, it’s evident that the demand for these services is on the rise. Technological advancements, coupled with increasing healthcare demand, further fuel this growth, positioning RPM as a significant opportunity for healthcare stakeholders worldwide.

Despite government initiatives aimed at promoting RPM, such as the U.S. Food and Drug Administration’s (FDA) Home as a Health Care Hub program, challenges persist in its implementation. Data security risks, integration hurdles, and onboarding complexities remain notable obstacles in realizing the full potential of RPM. Additionally, navigating the logistics of RPM within hospital settings presents ongoing challenges, from system setup to data management. While companies like Medioh have offered solutions to address these challenges, the continuous evolution of RPM technologies and collaborative efforts among stakeholders hold promise in fostering enhanced patient care delivery.

Conclusion

In conclusion, the decline of traditional telehealth models highlights the need for innovative solutions like RPM. With its scalable and proactive approach, RPM offers personalized care and improved outcomes. The forecasted growth of RPM, supported by partnerships and government initiatives, signifies a promising future for healthcare. Embracing RPM enables healthcare providers to deliver proactive care and enhance access for all, marking a transformative shift in healthcare delivery.

About Medioh

Ready to harness the transformative potential of RPM in your healthcare practice? Contact us at Medioh to explore our comprehensive RPM solutions tailored to maximize scalability and efficiency. Together, let’s embark on a journey towards a future of empowered patients and optimized healthcare outcomes.

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