The current state of healthcare in the United States continues to rapidly change year over year. We are seeing the paradigm shift rapidly from a fee-for-service model to a value-based model. With this change, many healthcare organizations are seeking ways to meet the needs of various value-based and risk-based payments models that tie quality, patient experience, and outcomes to reimbursement. Remote patient monitoring (RPM) programs are a great way for healthcare organizations across the care continuum improve any value-based programs they have taken on. These can be in the form of risk-based contracts with payers, participating in Medicare Advantage plans, participating in bundled payments, or being part of an Accountable Care Organization. In order to succeed in this new value-based and risk-based world of healthcare, the Quadruple Aim must be met, and RPM can do just that.
The Quadruple Aim is a concept that helps organizations focus on four main initiatives: improving patient outcomes, improving patient experience, improving care team experience, and lower the overall cost of care. If health care organizations begin to focus on those four concepts of Quadruple Aim, they can set themselves up for success in the world of value-based care. RPM can aid healthcare organizations in achieving Quadruple Aim as RPM helps in checking all four of those boxes.
Improving Patient Outcomes
This is something that every healthcare organization strives for whether its role is a provider or a payer. In healthcare, we strive to improve the health of our patient populations to improve the overall health of all patients. In the past few years, we have seen a huge push towards population health and chronic care management (CCM). Remote patient monitoring is a great way to build upon current population health and CCM efforts. RPM allows for monitoring of patient populations outside the four walls of the care setting. With RPM, care teams can monitor patients in real time post-discharge or in between visits reducing the risk of readmission or decompensation between office visits.
Improve Patient Experience
Patient experience (PX) is at the top of mind in healthcare today and continues to be something of utmost importance. Major health systems are even hiring Chief Patient Experience Officers and full departments dedicated to the patient experience. Patient experience survey scores are tied to government funding and grants and if PX falls funding could be lost. An RPM platform gives the patient a lifeline to their care team while they are outside the care setting. RPM platforms give the patient the ability to request a video call with a care team member, text through a secure messaging platform, send biometric data, and answer questions the care team can see allowing for improvement to the overall patient experience.
Improve Care Team Experience
Another major conversation topic today is the care team experience and discussion of physician burnout. Today more than ever we see physician burnout of major concern among healthcare organizations. Today, we need to ensure everyone involved with a patient throughout the care continuum has the appropriate tools to do their job and we reduce the risk of burnout for our care teams and providers. An RPM solution provides a centralized platform to conduct all population health, chronic care management, and RPM efforts. Care teams are manually making hundreds of phone calls a day to patients and working off complex and confusing spreadsheets. This is an inefficient process that can be streamlined with RPM. With an RPM platform, we can trend a patient’s biometric data over time, easily provide educational content, and escalate any real-time alerts to the appropriate care team member or provider. Aggregating this data makes RPM even more powerful, allowing for data-driven decisions off patient biometric data and answers to subjective questions. Now healthcare organizations can use the data to determine the impact and improvement of a specific patient cohort over the course of an RPM program.
Lower Cost of Care
Lowering the cost of care can be a huge burden for everyone involved in the care continuum. Using data given to healthcare organizations from payers and examining utilization data, we can determine who the high utilizers and high-risk patients are. Those two patient cohorts are a great starting point and a quick path to victory for implementing an RPM program. This can especially help Accountable Care Organization’s who strive to lower their Medicare fee-for-service spend. A huge cost of care decrease can be seen by engaging with our high utilizers by improving their overall health with constant monitoring and driving them to the right care setting. If we can prevent these patients from unnecessarily admitting to the acute care setting it is a great start to lowering the overall cost of care.