Telehealth has emerged as a viable and valuable delivery care model, with remote patient monitoring (RPM) as one of the most effective forms of virtual care. While not technically a new concept, RPM has been around since the 1960s. Since then, it has expanded and morphed into the useful solution and service it is today while gaining acceptance from practitioners, patients, payers, and the federal government.
As a valuable method for providing continuous care for patients throughout the COVID-19 pandemic, remote patient monitoring was thrust into the spotlight and helped practitioners forge effective paths for supporting patients and managing chronic disease from a distance. At the same time, RPM has generated favorable reimbursement and consistent revenue, which has proven tremendously valuable during these unprecedented times and disruptions in patient volume.
Understanding the Value of Remote Patient Monitoring
Remote patient monitoring is a form of virtual technology that allows healthcare providers to monitor and electronically capture medical and other health data from patients for assessment, recommendations, and instructions. As a virtual care technology, this collecting of health data, which can include vital signs such as blood pressure, weight, heart rate, and blood sugar levels, can occur anywhere the patient is situated, excluding an in-person visit to a practice. As long as patients are not in a shared space with the healthcare provider delivering RPM services, they can receive these services. This means a patient can be in their home, in an office, on vacation, in a skilled nursing facility, or any other location and benefit from RPM.
Remote patient monitoring is lucrative for practices, being embraced by patients and payers, and likely to play a growing role in the delivery of healthcare going forward — something the RPM, virtual care, and telehealth stats, facts, and figures provided below demonstrate all too well.
Consumer/Patient RPM Statistics
Biggest user of RPM
The higher prevalence of chronic disease coupled with a large elderly population makes the United States the biggest user of remote patient monitoring in the world, according to Strategic Market Research.
(Source: Strategic Market Research)
50 million consumers
A Harvard Health Letter article states that nearly 50 million people in the United States currently use remote patient monitoring devices.
(Source: Harvard Health Letter)
4 in 5 consumers
According to an MSI International survey, 80% of Americans are in favor of using remote patient monitoring, and nearly one-half are very favorable towards incorporating it into medical care.
(Source: MSI International)
65%–70%
According to the MSI survey of ~300 consumers, between 65% and 70% said they would be willing to participate in a remote patient monitoring program with their care providers to monitor blood pressure, heart rate, blood sugar and blood oxygen levels.
(Source: MSI International)
Top 5 remote patient monitoring consumer benefit rankings
The survey asked American patients to rank the benefits of remote patient monitoring that they valued the most. The results were as follows:
- Convenience – 43%
- Efficiency – 39%
- Control over personal health – 37%
- Greater accuracy – 36%
- Peace of mind – 36%
(Source: MSI International)
76% hospital readmission reduction
Remote patient monitoring is reducing the risk of hospital readmissions. According to the University of Pittsburgh Medical Center, RPM helped to reduce its readmission rate by 76%.
(Source: Business Insider)
90% patient satisfaction rate
University of Pittsburgh Medical Center also reported their patient satisfaction scores rose to over 90% because they equipped patients with remote patient monitoring equipment and tablets.
(Source: Business Insider)
Nearly 50%
While blood pressure monitoring devices are used predominantly by older populations, 46% of millennials also use them.
(Source: BlueCross BlueShield)
Physician/Practice RPM Statistics
20% of large healthcare facilities
20% of large healthcare facilities surveyed said they have already adopted some sort of RPM solution for their organization.
(Source: HealthTech Insider)
19%-41%
Across 25 surveyed organizations, admissions for chronic care complications were reduced between 19% percent and 41% thanks to RPM.
(Source: Strategic Market Research)
75% of doctors
Throughout both urban and rural areas, 75% of doctors have adopted some type of remote patient monitoring to manage chronic health conditions.
(Source: Strategic Market Research)
65% of doctors
65% of doctors utilize remote patient monitoring technology for its medical management capabilities and 60% adopted remote patient monitoring for easier care coordination.
(Source: Strategic Market Research)
1,300%
A data analysis found that RPM claim volume increased by 1,294% from January 2019 to November 2022. Internal medicine physicians used RPM the most, with about 29% of their procedure claims related to RPM. Cardiology providers had the second-highest share of RPM procedure claims at about 21%. Coming in third were family practice physicians at about 19%.
(Source: Definitive Healthcare)
RPM Coverage and Reimbursement Statistics
34 states
As of September 2023, 34 states had adopted Medicaid coverage for remote patient monitoring.
(Source: Center for Connected Health Policy)
$1,000+ per year
By delivering 20 minutes of remote patient monitoring per month, each Medicare beneficiary can generate reimbursement of more than $1,000 over a 12-month period.
(Source: Prevounce)
Future RPM Statistics and Trends
128% increase
By the year 2027 the remote patient monitoring systems market is projected to increase by 128% over the current market.
(Source: Insider Intelligence)
71 Million Americans
By year 2025, more than 26% — or around 71 million Americans — will be utilizing some type of remote patient monitoring service.
(Source: Strategic Market Research)
115 Million Global Users
By 2027, the total number of patients using RPM solutions is expected to reach 115.5 million globally.
(Source: Juniper Research)
80-90%
The head of one technology consulting firm estimates that this many outpatient visits could eventually become "virtualized" in some way.
(Source: Healthcare IT News)
$250 billion to virtual care models
One estimate is that $250 billion in healthcare spending could shift to virtual care models.
(Source: McKinsey)
$42 billion
The global value of the remote patient monitoring market is poised to reach about $42 billion by 2028.
(Source: MarketsandMarkets Research)
$14 billion
The global value of the remote patient monitoring market is estimated to be worth $14 billion in 2023.
(Source: MarketsandMarkets Research)
20% CAGR
The global remote patient monitoring market is projected to grow at an compound annual growth rate of about 20% from 2023 to 2028.
(Source: MarketsandMarkets Research)
References:
- www.businessinsider.com/remote-patient-monitoring-industry-explained
- www.msimsi.com/msi-remote-monitoring-study-pr/
- https://healthtechinsider.com/2021/03/12/remote-patient-monitoring-to-be-mainstream-in-5-years/
- www.cchpca.org/resources/state-telehealth-laws-and-reimbursement-policies-report-spring-2021/
- https://blog.prevounce.com/4-things-to-know-about-remote-patient-monitoring-reimbursement
- www.fairhealth.org/states-by-the-numbers/telehealth
- www.bcbs.com/the-health-of-america/reports/the-health-of-millennials
- www.businesswire.com/news/home/20210719005432/en/Global-Remote-Patient-Monitoring-Market-2020-to-2028---COVID-19-Impact-and-Analysis---ResearchAndMarkets.com
- https://www.strategicmarketresearch.com/blogs/remote-patient-monitoring-statistics
- https://www.juniperresearch.com/press/remote-patient-monitoring-users-reach-115m-2027
- https://www.health.harvard.edu/staying-healthy/whats-the-future-of-remote-patient-monitoring
- https://mhealthintelligence.com/news/remote-patient-monitoring-use-skyrockets-1300
- https://www.marketsandmarkets.com/Market-Reports/remote-patient-monitoring-market-77155492.html
- https://www.insiderintelligence.com/insights/remote-patient-monitoring-industry-explained/
