Interest in remote patient monitoring (RPM) — using digital technologies to track and capture patients’ medical/health data and electronically transmitting it to their health care providers — has been growing for years. But it accelerated in 2020 with the steep decline in in-person patient visits brought on by COVID-19, which forced health care providers to find alternative ways of monitoring patients’ health.
The growth is reflected in a July forecast from ResearchAndMarkets.com that predicted the market for RPM devices will reach $85 billion by the end of 2026, up from just over $20 billion in 2019, or an annual compound rate of nearly 23%.
Similarly, a March VivaLNK survey of hospitals and clinics found that 43% believe RPM adoption will be on par with in-patient monitoring in five years, and 35% believe it will surpass in-patient monitoring.
Along with its benefits for patients’ health, RPM offers the opportunity to become a significant revenue stream for practices. But turning that possibility into reality requires careful organizational planning, gaining acceptance from providers and staff and educating patients on what RPM requires of them and how they will benefit from it.
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