Establishing and sustaining connectivity with patients is critical for Cardiac Remote Monitoring (CRM) programs to successfully improve patient outcomes and lower the total cost of care. The alternative, low connectivity rates, invariably result in less reimbursement, missed revenue opportunities, and poorer health outcomes.
New research, in fact, shows that among health systems and practices offering a CRM program in-house, more than half of healthcare leaders say their organization receives less than 20% in cost savings per patient over the course of a year. Approximately one-third of survey respondents do not know what their cost savings is per patient per year.
To better understand how medical practices, hospitals, and health systems can overcome the challenges and maximize the benefits of CRM, Rhythm Management Group commissioned healthcare consultancy Sage Growth Partners to survey 103 physicians, administrators, and executives. Sixty-five percent of respondents represent a health system or a hospital, and 35% represent a medical practice or group.
CRM Benefits: Clinical & Financial
Survey respondents say the top three functions for which their organization outsources CRM programs are billing and compliance, more efficiency for physicians and staff, and timely reviews of patient data. The research results also show that 84% of healthcare leaders say CRM programs positively impact patient care, 78% say the programs improve patient satisfaction, 66% say staff responded well when the program was established, and so did 64% of physicians.
Research participants say the primary benefits of CRM are better outcomes, fewer hospital and ED admissions, and 81% of respondents that already have a CRM program say the approach is helping their organization prevent future hospitalizations.
But achieving those benefits requires strong connectivity with patients.
“Rhythm helps us get our connectivity rate up to 90%, which helps both clinically and reimbursement-wise.”
Why Connectivity is Key
Establishing connectivity is the necessary foundation for Cardiac Remote Monitoring programs and, once connected, physicians say keeping them activated is a top challenge. [1] Difficulties sustaining engagement with patients is among the main reasons remote monitoring programs falter. [2]
From a patient perspective, the benefits of enrolling in remote monitoring programs include earlier detection of disease, more effective preventative care, and lower spending on healthcare. [3] But according to oft-cited research from the Heart Rhythm Society, the average physician practice does not enroll 55-60% of patients who qualify for remote monitoring into programs.[4]
Our research highlights the economic reasons for enrolling more patients. When looking at hospitals and medical practices with 75-100% of patients continuously connected, 90% of survey respondents report increased revenue.
Those connecting with 24% or fewer patients, however, either had no idea what their reimbursement rates were or felt little to no impact – but as soon as connectivity rates hit 25% or higher, the impact was more considerable.
“We benefit from greater reimbursement, because I know that Rhythm will help get patients fully connected and better reimbursed.”
Among providers using a third-party for RCM, roughly half say CRM has “somewhat increased” revenue, with almost half believing they are receiving 50% or more of the total potential cardiac remote monitoring reimbursements.
Gateway Family Health Clinic, for example, increased its patient connectivity by 114%.[5] To ensure the staff at its three Minnesota facilities was not overburdened by the sharp uptake in CRM patients, Rhythm Management Group managed 96% of all alerts, delivering only the 3.7% critical enough to be escalated to the practice. As a result, Gateway was able to capture $40,000 within a month, or an additional $1,000 per escalated alert, that otherwise might have been a missed revenue opportunity.
To both establish and sustain connectivity with patients, hospital, health system, and medical practice leaders should identify CRM partners that enroll, engage and connect more than 90% of eligible patients. And with connectivity across the patient population, that CRM partner should also deliver clinical insights and customizable alerts to improve health outcomes and optimize reimbursement.
Learn more about Rhythm Management Group can help practices, hospitals, and health systems more effectively enroll, connect, and engage 90% or more of eligible patients. Contact us.
Sources:
1 Poised for Flight: Remote Patient Monitoring has Arrived, Rhythm Management Group
2 Why most remote monitoring initiatives underperform, Managed Healthcare Executive
3 Why most remote monitoring initiatives underperform, Managed Healthcare Executive
4 2015 HRS Expert Consensus Statement on Remote Interrogation and Monitoring Cardiovascular Electronic Implantable Devices, Heart Rhythm Society
5 The Truth About Remote Patient Monitoring, Rhythm Management Group
