Over the next decade, remote patient monitoring devices will see a staggering 12.5% annual growth rate. Given the cumulative effects of an aging population, and the high cost of inpatient care, this trend is entirely predictable. Healthcare providers are already using more devices than ever for remote monitoring. To free up beds, many hospitals are starting to track the vital signs and symptoms of coronavirus and non-coronavirus patients from a distance.
Remote patient monitoring practices are supported by the authorities. The Centers for Medicare and Medicaid Services has expanded its list of eligible telehealth services for reimbursement. The U.S. Food and Drug Administration authorizes the use of non-invasive devices designed for hospitals in the home environment. Remote patient monitoring is here to stay, with or without a pandemic.
Remote patient monitoring, also known as telemonitoring and home monitoring, enables healthcare providers to track real-time changes in patient health data from a distance and use it to adjust treatment plans. It is an integral part of the wider telemedicine industry and the field of e-health. Remote patient monitoring focuses on chronically ill patients, postoperative patients, elderly patients, and patients from rural areas with limited medical facilities. Recent research shows that when applied to targeted categories, remote monitoring is able to reduce readmissions by 38%, reduce emergency room visits by 25%, increase patient satisfaction by 25%, reduce care costs by 17%, and reduce medication Compliance increased by 13%.
Given its potential benefits, it's no surprise that roughly 88 percent of healthcare providers have invested or are considering investing in remote patient monitoring technology. To achieve their goals, these technologies must create an integrated system that spans the entire remote patient monitoring cycle.
Like most healthcare systems, yours is probably managing an increasing number of people with diabetes, strokes, and other chronic diseases. Clinicians everywhere are overworked and busy with appointments. Patient wearables can reduce the time they have to spend seeing a doctor, allowing them to track and respond to patient medical data quickly and in real-time.
Likewise, wearables for remote patient monitoring can track heart rate, blood pressure, blood sugar levels, and weight gain and loss trends to help clinicians provide customized, data-driven care for patients at home. Whether it's a biosensor tracking diabetes symptoms or an ovulation predictor, data collection and analysis are more effective for all healthcare stakeholders.