Industry Trend of Increased At-Home Remote Monitoring

08/17/2021

Covid-19 forced virtually every industry around the world to change the way it operated, and this included the healthcare industry. In-person physician appointments saw a dramatic decrease to prevent the risk of spreading Covid, giving way for a new method of patient care to step into the spotlight. 

Remote Patient Monitoring (RPM)

RPM allows physicians to access important patient information that was once obtained through in-person visits, while patients can obtain quality healthcare while remaining at home and not risking Covid-19 transmission. This is achieved through the advent of technological devices that perform a variety of functions like remind someone with diabetes when to take their insulin, or record important physiological data like blood pressure, that a physician can then analyze. 

RPM services are reimbursed by Medicare the same way an in-person visit would be, with no added requirements surrounding use or site of care. Further, RPM can also potentially generate massive savings, by preventing more serious health issues from taking root, resulting in more costly treatments and procedures. 

Growing Market Trend

While RPM is not a new concept, the industry has experienced exponential growth in the past two years and shows no signs of slowing down. According to a study conducted by Global Data, RPM is expected to reach a global market cap of $645 million by the year 2025. It is also expected that by 2024, 30 million US patients will make use of RPM tools – and Carepointe is ready to meet this rising demand for state-of-the-art RPM technological devices.