Are you a home healthcare agency interested in increasing your revenue while providing stellar patient experience? A remote patient monitoring (RPM) program can increase your monthly profits and reduce the number of patient admissions (and readmissions). Learn how TriageLogic’s comprehensive RPM service and platform enhances home healthcare revenue without any extra requirements from your team.
What Is RPM and How Does It Increase Profit?
For those who may not be aware, remote patient monitoring involves providing patients with wearable devices to monitor vital signs such as heart rate and blood pressure. These vitals are collected and data is sent directly to a portal for observation by a nurse of the provider. This creates an early detection system for concerning changes in health, alerting providers so that they can intervene sooner.
Revenue Generation
Agencies can be reimbursed for offering remote patient monitoring as long as they have Medicare patients over the age of 65 who have a chronic illness: that is, the typical patient of a home health agency. As long as your agency follows the requirements of CMS and adheres to the correct billing codes, CMS approves up to $120 per patient per month. We often use the example that if you have 50 patients enrolled, that’s a potential $72,000 a year in revenue.
Decrease Patient Admissions
Many patients are admitted or readmitted because they and their providers aren’t aware of these health changes until significant symptoms are present.
This is especially true for patients battling chronic disease. Not only do admissions impact their physical and mental well-being, but they’re also financially taxing for healthcare systems. As PatientEngagementHIT notes, “there were 3.8 million 30-day all-cause adult hospital readmissions in 2018… [amounting] to a 14 percent readmission rate, costing an average of $15,200 per readmission.”
An RPM program addresses the need for proactive, personalized monitoring that can enhance long-term care and decrease the number of your patients who end up in the hospital.
How TriageLogic Partners With Home Health Agencies
Utilizing RPM technology, TriageLogic’s medical call center of registered nurses can monitor the vital signs of your patients, their medication adherence, and other critical metrics. This allows them to detect indications of negative health changes and address them immediately: first, by using nurse triage protocols to determine if a respective patient needs to be seen by their physician; second, by coordinating an appointment with them.
If these symptoms occur after your normal office hours, our triage nurses will continue to act as an extension of your agency and coordinate with the appropriate health services.
This prompt intervention avoids unnecessary hospital visits and health complications.
Billing CMS for Home Healthcare Revenue
TriageLogic’s RPM platform automates data collection and analysis, which removes the burden from your in-house team and your available resources. Through continuous data collection, analysis, and time with a telehealth nurse, TriageLogic helps you ensure that all CMS requirements and regulations are followed, and that your agency is able to bill for the RPM codes allowed, with no extra work on your agency’s staff.
Risks of Not Implementing an RPM Program
Decreasing healthcare revenue, increasing wages, and higher patient admissions lead to heightened financial strain on healthcare systems. Without proactive monitoring and timely interventions, not only do home health agencies dismiss an important source of revenue, but their patients also risk being negatively affected by avoidable health complications.
Let’s Talk About Your Home Healthcare
TriageLogic’s RPM platform offers a path to transformative home healthcare. By reducing hospital readmissions, unlocking new revenue streams, enhancing monitoring capabilities, and streamlining workflows, you stand to reap the rewards of improved patient health, operational efficiency, and financial growth. All you need to do is give us the qualified patients and we will take care of the rest.
When you’re ready, let’s talk about how you can deliver this level of proactive care to benefit your patients and agency alike. Contact us today to discuss a program.
About TriageLogic
TriageLogic is a URAC-accredited, physician-led provider of top-quality nurse telehealth technology, remote patient monitoring, and medical call center solutions. Founded in 2007, the TriageLogic Group now serves more than 22,000 physicians and covers over 42 million lives nationwide.
