Why the Future of Remote Patient Monitoring Is the Future of Your Healthcare Practice?

Devising viable long-term patient engagement solutions comes down to unit economics. A health system could order 1,000 remote patient monitoring devices, but it won’t realize enough value from each device to make the investment acceptable. In general, the time to value (or the time horizon to ROI) for investments in remote patient monitoring must be shorter so providers are more incentivized to make them — and health systems should be making these investments to live up to their status as providers.

The future of remote patient monitoring might not mean expensive devices in every patient’s home, but providers must be searching for other solutions that extend their clinical relationship and impact into the digital world to drive revenue and preserve patient relationships by supporting improved outcomes.

Insights & Actionable Advice

"Even after huge market adoption of wearable devices, patients still complain about the inconvenience and uncomforting issues pertaining to the long period of wearing such devices. High-cost of the wearable devices also restricts its availability for economically stable patients. Researchers and MedTech companies have been trying to come up with innovative non-contact patient monitoring solutions as the answer to current market unmet needs."

"Non-contact patient monitoring technologies are gravitating toward the use of video, sound analysis, and mobile-based platforms. Contactless monitoring systems and smartphone health applications incorporating advanced technologies such as machine learning and artificial intelligence algorithms are playing a vital role in the war against COVID-19."

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Commercial Opportunities

Today's healthcare professionals treating chronic diseases see major gaps in their careers relating to: patient engagement and profitability while adopting remote patient monitoring technologies.

Medigy identifies these Opportunities for you to address certain gaps and risks.

• Invest in innovative non-contact low-cost RPM devices for economically stable patients to meet current huge market needs. Clinical and financial returns are higher for patient populations.
• Long-term patient engagement solutions will help healthcare practitioners realize value from RPM adoption and make the investment acceptable.
• Expensive devices may not alone be enough. Other solutions and products that extend clinical relationships will drive higher outputs and revenues.
• Practitioners must not turn into IT support. Effective remote patient monitoring solutions should offer frictionless interactions between the care providers and their patients.
• There is a need for greater commitment to value-based care and improved home care. Practitioners can fulfill the true potential of RPM by choosing the right solutions that are innovative and affordable.

Market Opportunities

Research Opportunities

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Products and Solutions

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