Remote Patient Monitoring, Remote Patient Monitoring Device

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Building an Effective Remote Patient Monitoring Strategy

With the rising demand for healthcare services especially due to the growing incidence of chronic diseases among the aging population, there is unprecedented stress on primary care. Furthermore, the low nurse to patient ratio in hospitals as well as clinical setup are increasing strain on emergency care centers and assisted living centers. To tackle similar challenges, healthcare systems are considering to radically transform service delivery through remote patient monitoring services.

Remote patient monitoring (RPM), a technology that allows patients to be monitored outside traditional clinical settings, was relatively slow to be adopted by healthcare providers. A variety of technological and financial factors hindered the early adoption of remote patient monitoring systems. However, over the years, the remote patient monitoring market saw an increase in the number of patients being monitored remotely and the trend is expected to continue over the next decade as well. Whether your healthcare organization was an early adopter of RPM technology or you are just getting into the game, there remains a number of basic factors that must be considered to ensure your RPM efforts are financially and clinically successful. Based on our expertise in helping several remote patient monitoring service providers tackle key challenges, below are some key points to consider.

While implementing advanced healthcare technologies in your organization, it’s easy to overlook some key gaps in implementation. RFP to consult an expert from Infiniti Research and learn how we can help you with a flawless technology implementation strategy to suit your business needs.

remote patient monitoring

Remote patient monitoring in today’s healthcare scenario

Today, with pay-for-performance becoming mainstream, remote patient monitoring has now become imperative for providers of all kinds. However, this wasn’t the case a decade or two ago. But with the multitude of benefits that RPM brings with it including aiding better clinical outcomes, controlling healthcare costs, reducing admissions and readmissions, and improving overall access to healthcare are some of the main reasons why healthcare providers are increasingly making RPM devices available to their patients. In some cases, remote patient monitoring is used as a condition of long-term treatment, especially for those with chronic diseases.

Execution is more important than the technology

Remote patient monitoring services undoubtedly provide a host of benefits for healthcare providers and patients with chronic illness. But it is essential for healthcare providers to not get carried away by these lucrative advantages. Firstly, it must be ensured the organization is equipped with the necessary infrastructure, personnel, and work processes that are required to provide scalable RPM implementation that can exceed performance expectations. Prematurely rolling out remote patient monitoring strategies and initiatives can result in failure due to faltered back-end execution. This could in turn also hamper the organization’s reputation.

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Conduct early due diligence

Leveraging the ample amount of available data and input on remote patient monitoring tools is more feasible than using pilot projects. As modern patients expect turnkey solutions from healthcare providers, organizations cannot expect patients to wait until they resolve the gaps in these pilot projects. A greater degree of patient and staff satisfaction can be ensured by rigorously conducting due diligence at the early stages, and ensuring that the remote patient monitoring system can be rolled out successfully.

Consider RPM as a cost containment strategy

A healthcare organization’s remote patient monitoring strategy should not ideally be dictated by an RPM vendor or be based on the deals on RPM technology. In order to be able to clearly visualize the merits and demerits of remote patient monitoring technologies, providers could consider the benefits of working with a healthcare consulting firm that is well-versed in this and can help in strategic allocation and implementation of the technology.

Want more insights on enhancing your remote patient monitoring strategy?

market segmentation

Applications of IoT in the Healthcare Industry

Internet of Things (IoT) in healthcare aims at improving the health of millions of people across the globe. The concept of Internet of Things is relatively old but has recently garnered more attention, especially in the healthcare industry. What is the internet of things, you ask? It is the use of mobile or electronic devices connected to the cloud that captures and monitors data, thereby allowing them to trigger certain events. Ask an analystThere are various applications of IoT in the healthcare industry right from remote patient monitoring and health information technology (HIT), which help diagnose, track, and prevent chronic diseases. IoT in healthcare services enables personalized patient monitoring, facilitates calorie count, offers regular checkup reminders, and tracking health information. Smart IoT enabled devices eliminate the need for a direct physician-patient access and interaction by leveraging data insights.

Applications of IoT in Healthcare

IoT in healthcare has revolutionized the medical services industry through apps and devices that have redefined the way physicians and patients interact and communicate with each other. The introduction of technology in healthcare has improved patient journey, enabled remote monitoring, and real-time location services. IoT in healthcare offers tools and systems that help improve the efficiency of service providers, improve the quality of services, resulting in a significant reduction in health care costs. IoT in healthcare

  • Through remote monitoring, health care service providers can offer timely and prompt attention to patients. These IoT-enabled wearable devices fitted with sensors can be leveraged to immediately notify family members and doctors of any interruption in the individual’s routine activity

 

  • Physicians and service providers can leverage real-time location services by tracking medical devices and apparatus used to treat patients. Medical tools and surgical devices can be tagged with IoT enabled sensors to help the medical staff locate it

 

  • IoT in healthcare helps improve patient journey by streamlining processes and minimizing costs. The health care service providers provide better patient experiences with an updated infrastructure and accessing patient information stored in the cloud; thereby, providing immediate assistance, communicating through email services, and providing quality medical care to patients

 

IoT in healthcare enables the physicians, providers, promoters, and hospitals to optimize their resources to achieve operational efficiency. Although there are a few loopholes and concerns regarding security and privacy of patient information, applications IoT in healthcare has gained momentum across the globe.

To know more about IoT in healthcare industry

 

market segmentation

Remote Patient Monitoring: The New Tool for Enhancing Healthcare Systems

Taking healthcare services to the masses in the most cost-effective manner is the prime focus of governments across the globe. Stakeholders in the healthcare system have realized that the traditional healthcare models fail to provide effective medical services. It is in this scenario that technology is seen as a possible option to improve the overall functioning of the medicare systems. Telehealth, remote patient monitoring (RPM), and mHealth are some of the examples of how technology can provide value-based medical care.

Remote patient monitoring: Filling the distance between patients and doctors

Through RPMs, the health related data of patients in one location is digitally transmitted to health care providers in a different location.  the patient need not travel all the way to a clinic to consult the doctor. Rather from the comfort of his home he can interact with the healthcare professional and get timely help. The system is extremely beneficial for those who are physically handicapped or cannot travel alone due to old age and other disabilities.

By leveraging cloud and big data, RPM systems make it easier for the healthcare providers to access all the medical details of a patient. Right from the management of diabetes and hypertension, to helping cardiac and asthma patients, RPM has touched all the major areas of the healthcare industry. The technology also plays a vital role in bringing down the cases of long hospital stays and cuts down the cost of clinical trials as well.

From the point of view of hospitals and clinics, medical professionals can now dedicate more time on patients who need very close physical monitoring. Timely detection and quick intervention also reduce the hospitalization and readmission rates. Just by providing their services through the online medium, hospitals gain additional revenues. Most of all, the data collected for RPM can be used in clinical trials for new drug discovery.

Infiniti’s take on remote patient monitoring

Our market intelligence shows that in spite of several advantages, there are some major challenges which are hindering the adoption of RPM throughout the globe. Though at present its quite in demand in the US, the initial investment in this technology is quite massive. Also, regulations like HIPAA, make it rather difficult to access information which falls into the category of protected health information. At the same time, there is no denying the fact that RPM is the future of the healthcare industry. By bringing medical help right into the homes of the patients, this technological innovation has emerged as a powerful tool in the healthcare industry.

Sales Performance Analytics Study for Patient Monitoring Systems

Business Challenge
A leading multinational healthcare company wanted to identify the reasons for the decline in the sales of its trademark patient monitoring systems in North America.
Situation
The client was facing challenges as the sales performance of its patient monitoring systems was declining. The company was looking for solutions to improve its sales and facilitate smarter and more effective decisions.
Approach
We conducted a deep-dive data-driven analysis of the company’s current performance, to identify the potential causes for its low sales performance. We determined variables that had a high correlation with market demand, ascertained the relative weightage of each significant factor, followed by statistical representation of correlated variables.
Impact
Based on our insights, the client was able to implement best practices in its product distribution strategies and establish better processes for forecasting demand. This helped the company restructure its sales strategies in alignment with the market demand.
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