Healthcare practices across the globe are integrating evolving technology like remote patient monitoring to seamlessly track and treat their patients more effectively. Until recently, the outcomes of medical practices providing services to patients in their homes has been studied and implemented only in a limited manner. For practices that were early adopters of remote patient monitoring, Veta Health has been able to change their patient care model for the better.
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A major barrier to establishing remote patient monitoring and at-home programs was that most federal healthcare programs and commercial insurance did not pay for healthcare solutions outside of the traditional healthcare setting. Thankfully, this has changed as of November 2020, and more practices than ever are implementing solutions like Veta Health’s remote patient monitoring.
Patients often have difficulty working a visit into their busy schedules, and the rising cost of healthcare doesn’t help. But with remote patient monitoring, clinicians can observe and report on their patients’ conditions wherever they are in the world. Not only is this convenient for patients, it ensures that your practice can effectively treat your patients who can’t make the drive. But who qualifies for remote patient monitoring?
CMS (Centre for Medicare and Medicaid Services) introduced Current Procedural Terminology (CPT) codes to encourage effective and holistic care management. These codes focus on the healthcare professionals who care for the patient's unique health conditions and can be billed by any trained healthcare expert who satisfies the code requirements. Thus, any healthcare practice can use remote patient monitoring with these codes.
Benefits of Remote Patient Monitoring
Several factors are contributing to the upward trend of remote patient monitoring usage. Practitioners across the country are finding this virtual service to be enticing as a safe and effective means of maintaining healthcare delivery to some of their most vulnerable patients. Thanks to the benefits of remote patient monitoring, practices are finding that managing these and other chronic conditions is often much easier than they believed was possible.
Adding remote patient monitoring to your operations can bring a host of benefits that could lead to better results in every aspect of your practice. If you are considering adding these capabilities to your practice, Veta Health can help.
Who Uses Remote Patient Monitoring?
Remote patient monitoring allows clinicians to monitor patients outside of the conventional clinic setting, where the technology can provide 24/7 data between patients and physicians. In fact, a study by Spyglass Consulting Group found that over 88% of clinicians are investing in remote patient monitoring solutions to better connect with their patients and improve health outcomes at the point of care. This means that a wide variety of RPM solutions enable risk-bearing organizations to remotely monitor and manage high-risk patients with chronic conditions to improve health outcomes. This helps control healthcare costs.
Veta Health can help you join the rising number of clinicians investing in RPM. Our remote care systems can help you not only adopt the next generation of healthcare, we can help you mitigate risk.
Do Patients Pay For Remote Patient Monitoring?
Is your practice considering adding a remote patient monitoring solution? In that case, both administrators and clinicians alike will need to take a number of essential steps in advance to help ensure the new program's success. There is also the matter of understanding how you will get paid for your services.
So, what can you expect to get paid for providing remote patient monitoring services? In 2020, the CPT codes assigned to RPM made this solution one of the better reimbursing Medicare care management programs.
Here's how remote patient monitoring reimbursement breaks down:
- Medicare pays $21 for initial patient enrollment into a remote patient monitoring program.
- Medicare provides a base monthly payment of $64 for monitoring patient data transmitted from the device. This includes ongoing management of the device.
- Medicare provides a monthly payment of $55 for spending 20 minutes communicating with the patient or a caregiver.
- Medicare will provide an additional monthly payment of $44 if RPM communication with a patient exceeds 20 minutes but is less than 40 minutes. If communication requires 40 or more minutes, Medicare will provide an additional monthly payment of $44.
It’s that easy.
What Insurance Covers Remote Patient Monitoring?
So, who exactly pays when remote patient monitoring programs? The answer may surprise you; any organization that carries financial risk or wishes to drive quality improvements. That means insurers and Medicare Advantage Plans are moving to cover RPM to reduce adverse health outcomes and lower associated healthcare costs.
The added benefit of insurance reimbursement, along with the undisputed fact that patients prefer treatment at home, is why remote patient monitoring is taking off. It's hard to argue with that. At Veta Health, we promote remote patient monitoring to move more care out of the traditional healthcare setting to help you manage costs and revolutionize your practice.
Is Remote Patient Monitoring Right For You?
Remote patient monitoring brings real-time patient data to the fingertips of clinicians who are implementing healthcare management across practices of all sizes and specialties for a variety of patients. Now that patients know they can receive healthcare in the comfort of their own home, they’re more likely to experience a better outcome from the increased access to care that RPM provides. Fortunately, the benefits for your practice are just as promising.
Practice managers and administrators are often surprised at the fiscal benefits of this solution, because it removes some of the complexity from patient management for clinicians. Let the experts at Veta Health empower you with remote patient monitoring.
The Bottom Line
A quality remote patient monitoring solution frees up more time and energy. Get in touch with our expert consultants and get the answers to all your technology-related queries.