Pricing and ROI of RPM
The specific price and ROI to be expected from remote patient monitoring can take many forms. This course explains how to determine them.
4 lessons
8 minutes
free course
Course Description
How much does RPM cost? What kind of ROI can be expected? These are basic, necessary questions. Yet determining the exact answers requires further inquiry — specifically, exploring such factors as specific program goals, the patient population to be served, a facility’s existing technological footprint, and so on. In this course, our experts explain how to define expectations when it comes to determining remote patient monitoring price and ROI.
Course Outline
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How Much Should RPM Cost?2:07
The specific cost of any given remote patient management (RPM) program varies according to a number of factors, including its scope and chosen technology, as our experts explain in this lesson. As part of healthcare’s industry-wide shift to value-based care, RPM program costs are measured not just in price, but also in savings (such as that achieved via the more efficient use of resources like acute-care facilities).
In this lesson, you will learn:- Why RPM costs should be defined in terms of net savings
- Why goals need to be defined before determining costs
- The role played by technology in determining costs
- Why patient population selection matters to overall costs
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What Does the ROI Look Like on a RPM Program?2:10
The specific ROI to be expected from any given RPM program depends on factors like scale, facility type, and how effectively a program provider can shift high-cost, reactive care to lower-cost, proactive care. To accomplish the latter, explain our experts, it’s important that the provider works with the facility to understand its unique goals, making sure the right data is being collected and measured in the right way.
In this lesson, you will learn:- How ROI depends on shifting from high-cost to low-cost care
- Why RPM providers needs to understand operational goals
- Why patient population and facility type matter to ROI
- A sample of how effective RPM can yield excellent ROI
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Will Reimbursements Continue to Improve?1:39
Every year, RPM reimbursement expands to include new conditions and new geographical areas. Mississippi, for example, has become a pioneer in RPM reimbursement thanks to the success of the Mississippi Diabetes Telehealth Network. In this lesson, our experts discuss some of the recent progress made in RPM reimbursement and why that trend is likely to continue given remote care’s role in value-based care.
In this lesson, you will learn:- Why recent legislation seeks to expand access to RPM
- The role of RPM in the shift to value-based care
- Why Mississippi has become a RPM pioneer
- Why RPM expansion holds bipartisan appeal
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What Types of Pricing Models are Usually Found in RPM?1:42
Though expected to become more standardized in the years to come, RPM pricing models today take on many forms, based largely on the need (and convenience) of customizing each program to meet an organization’s specific operational goals. As our experts explain, this customization typically involves factors like program scope, operating budget, and the need to either rent or purchase hardware or software, among others.
In this lesson, you will learn:- Why RPM pricing models take many forms
- How to determine the level of customization required
- The difference between purchasing or renting hardware
- Why the industry is moving toward standardized pricing
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