For practices, the decision to implement a comprehensive remote patient monitoring (RPM) program can seem like a difficult one. For many busy physicians and clinical teams, RPM might seem daunting, terribly time consuming, or simply not worth their while.
Yet, this misconception could not be farther from the truth.
Quality RPM programs offer myriad benefits for practice owners, physicians, and patients alike. From unlocking new revenue streams, to boosting patient engagement and satisfaction, and bettering patient and population health outcomes, RPM helps advance every aspect of healthcare for every stakeholder, underscoring the industry’s storied quadruple aim.
Unlocking ROI with RPM is Simple
For busy practices looking to expand their ability to care for patients outside the clinic walls, the financial benefits of RPM are undeniable. While it can be hard to imagine the financial impact an RPM program might have on your practice, Rhythm Management Group has made it simple with an ROI calculator.
In just a few simple steps, you can project your practice’s potential revenue:
- Volume: Input the number of patients you anticipate enrolling in the RPM program
- MAC: Enter the maximum allowable cost (MAC) for your area
- Time: Estimate the number of days of data you plan to capture.
With just these three simple pieces of information, the calculator will generate projections for your net revenue based on the allowable reimbursement rates for all relevant CPT codes (99453, 99454, 99457, and 99458).
If you’d like to take your calculations a step farther, the calculator can also help you determine your Relative Value Units, or RVUs, the metric by which you can determine reimbursement rates for medical services provided:
- Volume: Simply input the number of patients you anticipate enrolling in the RPM program.
- Provider data: Add your provider contracted rate per RVU.
With just these two data points, the calculator can help you predict total RVUs and related potential revenue based on the CPT codes 99457 and 99458.
If you’ve always been curious about the financial impact that an RPM program might have for your practice, wonder no more. Add just a few data points to the easy-to-use ROI calculator to generate predictions for potential ROI, and start taking advantage of the benefits of remote patient monitoring today!
Beyond ROI: The Key to RPM Program Success is A True Partner
While not every RPM program is created equal, the truly high-quality ones make an outsized impact on practice operations, physician well-being, and patient care. That’s because these partners are able to streamline implementation, proactively monitor and triage all incoming patient data, and maintain a very high level of patient compliance. By combining all of this, the right partner delivers an RPM solution with a very high return, increased patient engagement and satisfaction, and improved outcomes.
To get started, visit our new ROI calculator to learn more about how RPM can support your practice’s financial goals.
To learn more about how Rhythm helped one practice implement RPM, triage 97% of all incoming alerts, and generate $1,000 in new net revenue for each escalated alert, read our latest case study.