Remote patient monitoring (RPM) is a type of healthcare that gathers patient data using home-based monitoring devices and then transmits the data electronically to a provider in real-time. 

Collecting this data outside of traditional methods enables providers to keep patients engaged in care and observe them between regular office visits. The use of RPM skyrocketed during the COVID-19 pandemic when in-person care was limited, but growth continues to rise drastically.

Doctor working on computer

Telehealth has likewise risen in popularity, further bolstering RPM’s role in the future of healthcare. A recent study into telehealth growth found that the number of people utilizing telehealth is 38 times higher than pre-pandemic.  

Patients and providers have accepted the telehealth boom with open arms. It follows that RPM will have an increasingly present role in managing chronic and perhaps new conditions. Below, we look closer at some remote patient monitoring growth RPM trends to explore what to expect moving forward.

COVID-19 Impacted the Growth of RPM

COVID-19 caused a rapid increase in the need for telehealth services. To help control the spread of the virus, many healthcare facilities used telehealth services to treat patients virtually instead of in person. 

While remote patient monitoring grew out of the widespread shift to telehealth, all signs show it’s here to stay. Worldwide RPM growth is set to rise to $175.2 billion by the year 2027. The market was estimated to be worth $53.6 billion in 2022, so it’s estimated to continue to spike at an annual growth rate of 26.7%.

Some of the factors that are contributing to the rapid growth include the following:

  • A growing senior population
  • Advancement of telecommunications 
  • The benefits of telehealth and RPM for monitoring patient health
  • The reduction of medical resources necessary for hospitalizations and readmissions 
  • A rapidly growing need to expand care to rural and remote areas

Patients’ Growing Interest in Telehealth and RPM

RPM market trends are rising partly because of patients’ interest in virtual health technologies. Patients are not only willing to participate in RPM use, but excited. People from all walks of life have become increasingly interested in their own healthcare, and therefore, more active in it.

More and more people are using virtual visits to manage their health. This trend will likely continue due to accessibility, lower wait times, and convenience. One survey indicated that around 80% of those who have had virtual visits are willing to use virtual care again.

The same study also found that 75% of those with chronic health conditions were likely to use a monitoring device and share the information with their doctors.  Of those using devices to monitor their health, 77% said it at least moderately helps them change their behavior and habits.

Overall, people are interested in using RPM technology and believe it genuinely helps them change their behaviors, which ultimately helps manage their chronic conditions.

Telehealth and RPM Have Helped Reduce Hospitalization Rates

Healthcare organizations using RPM technologies are drastically reducing the readmission rate at their facilities. According to Business Insider, the University of Pittsburgh Medical Center reduced the risk of hospital readmissions by 76% thanks to RPM devices. Not only that, their patient satisfaction levels were well above 90%.

The use of telehealth, in general, also seems to be reducing hospitalizations and readmission rates. Not to mention, healthcare organizations with limited beds available or reduced staff can benefit from using telehealth and RPM technologies to monitor patients.

A Growing ROI for RPM Devices

Many seniors with RPM devices are helping bring positive ROI to healthcare organizations. A research report found that of the 25 healthcare organizations surveyed, 17% said that RPM devices in predominantly senior populations led to greater cost reduction.

RPM technologies are beneficial for patients’ health and economically beneficial for healthcare organizations. Thanks to reduced readmission rates and less use of other hospital resources, RPM technology is becoming a better business decision for healthcare teams. Additionally, payers like Medicare, Medicaid, and private insurers offer RPM device reimbursements. 

Implement RPM Solutions Today With CoachCare

As you can see, RPM growth is set to rise continuously for the next few years. If you want to get your team on board with RPM technology solutions for your healthcare organization, reach out to CoachCare today. Let CoachCare help increase your ROI with solutions that work for your patients.