Remote Patient Monitoring Software & RPM Devices are Reimbursable. Get Additional $350,000+/year/100 patients

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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Over the years, technology has positively transformed almost every sector in the world. Especially in the healthcare sector, digitization has changed the way of providing care delivery. One of the significant transformations technology has brought to the healthcare field is remote patient monitoring software. 

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According to the Insider Intelligence report, nearly 30 million US people are expected to use remote patient monitoring devices by the year 2024. There could be a skyrocketing rise in this number and the credit goes to the COVID-19 pandemic. Moreover, people might adopt 5G internet as well. Hence, it is evident that remote patient monitoring device and remote patient monitoring software is going to change the ecosystem of care delivery.

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Are you interested to learn more about remote patient monitoring tools, how it can boost the revenue of providers, and how it can be implemented? Then, this article is for you.

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What is Remote Patient Monitoring?

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Remote patient monitoring (RPM), otherwise called remote physiological monitoring, helps patients to track vitals efficiently and consistently with the help of accurate and accessible devices such as pulse oximeter, thermometer, blood pressure, blood glucose meter, weight scale, etc. RPM also helps providers to track their patients’ health conditions remotely between direct visits. In case of any emergencies, they can easily intervene and take urgent action.

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Usually, remote patient monitoring programs are recommended especially for patients with chronic illnesses such as high blood pressure, asthma, COPD, diabetes, etc. Thanks to technological advancements like remote patient monitoring devices, patients don’t have to visit the clinic or hospital regularly for basic health checkups.

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What are the benefits of Remote Patient Monitoring Devices for patients?

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With a remote monitoring device in place, patients can enjoy the following benefits:

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• No more crowd in clinics or hospitals for basic health checkups

• Save more money by reducing overall costs like transportation fees, visiting charges, etc.

• The vitals can be tracked in real-time

• In case the readings go out of range, providers can intervene and take necessary action

• Adherence to medications can also be checked in real-time

• Improves overall healthcare quality

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What are the benefits of Remote Patient Monitoring Software (RPM) for providers?

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In addition to providing timely care delivery, providers can get reimbursed by the Centers for Medicare & Medicaid Services (CMS) for offering RPM services to their patients. Yes, you heard it right. Just use the RPM-based CPT codes to bill for CMS services.

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What are the CPT codes to be used by providers to bill for RPM services?

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What is the minimum reimbursement amount per year per 100 Medicare patients?

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Initial annual wellness visit (AWV) = $170

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RPM visit for 20 minutes = $21 + $56 + $51 = $128

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RPM reimbursement = AWV + RPM

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For 20 minutes, providers can get $298 per patient per month

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For 20 minutes, providers can get $357,600 per 100 patients per year

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What is the workflow of RPM reimbursement for providers?

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1. If you have not seen your patients within 1 year before the commencement of the RPM service, initiate a face-to-face visit with them.

2. Enroll the patients using an invitation letter combined with a written consent, where they declare their willingness to take part in the program

3. Set up your patients’ community

   • Ask patients to download the remote patient monitoring software application

   • Enable RPM services for the patients in your dashboard

   • Provide them the wireless connected remote patient monitoring devices

4. Monitor patients’ data via the dashboard as needed

5. Record time spent viewing data and communicating with the patient and document it in the medical record

6. Generate monthly reports and billing documents including relevant CPT codes and submit them to CMS for reimbursement.

 

How to implement the remote patient monitoring program successfully?

 

Here is the list of steps to be followed for remote patient monitoring implementation:

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• Determine the need for remote monitoring implementation

• Recruit the people with the right expertise and experience for implementation

• Set the goal which could be monitoring blood sugar level, blood pressure level, etc.

• Get the right equipment for implementation

• Proceed with patient recruitment once the resources are ready

• Educate or train patients to use the RPM devices

• Make sure that the technical support team is easy to access

• Assess the effect of the RPM program with the help of the provider

• You can use multiple RPM devices as recommended by the provider according to your unique condition 

 

How Hifinite’s hiCare Chronic Disease Management qualifies for RPM reimbursement?

 

Hifinite’s hiCare Chronic Disease Management is exclusively designed for RPM reimbursement from patient enrollment to billing report generation, including relevant CPT code documentation.

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With our hiCare Chronic Disease Management Solution, you get:

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• Electronic patient consent forms for patient enrollment

• Seamless integration with the existing certified EHR

• Wireless devices

• Individualized care plan built from the provider’s assessment

• Provider Dashboard with Real-Time Data of patients

• Daily Patient Alerts/Reminders

• Secure HIPAA-compliant patient engagement platform

• Automated time tracking

• Billing analytics and report generation including reimbursement codes

 

Wrapping Up

 

Remote patient monitoring software makes the engagement between patients and providers more seamless. As providers can track varied health vitals of their patients remotely in real-time, they can easily diagnose and make timely decisions. Furthermore, providers can get reimbursed for offering remote monitoring services. 

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So, what are you waiting for? Contact Hifinite Health and see how your practice can implement a remote patient monitoring program right away without any hassles like initiation costs. 

 

References

https://africa.businessinsider.com/tech/the-technology-devices-and-benefits-of-the-growing-remote-patient-monitoring-market/4ck5jbd 

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