Remote Patient Monitoring - Independent Physicians

Summary

In this video, Wes Hayden, President of Coach Care, outlines a strategy for physicians to significantly increase monthly revenue and improve patient outcomes without adding staff or seeking new patients. The key is to implement remote patient monitoring (RPM) programs, which have proven successful across various medical practices. Hayden emphasizes the ease of implementation, potential for high reimbursement rates, and the support from CMS and commercial payers, positioning RPM as a scalable and profitable solution for healthcare providers.

Takeaways

• 😀 Coach Care, founded by Wes Hayden, focuses on helping physicians increase monthly revenue and improve patient outcomes without adding staff or new patients.
• 💼 Physicians can significantly boost their revenue by implementing remote patient monitoring (RPM) programs, as demonstrated by clients like Dr. Verma and the Hern Hernreed Center, who grew their RPM programs to over $21,000 in monthly revenue with just 100 patients.
• 📈 RPM services are not limited to a specific patient volume; larger practices like Jiva Health and Middlesex Gastroenterology have seen even greater revenue increases with more patients, up to $78,000 per month.
• 🌐 The success of RPM is not geographically limited, with clients across the U.S. achieving similar results, indicating the broad applicability of the approach.
• 🏥 RPM is particularly effective for managing chronic conditions like obesity, where patients using RPM services lost 86.3% more weight and stayed on their programs 30.2% longer than non-RPM patients.
• 💡 The key to RPM success is not just implementing the technology, but also proactively monitoring patients and targeting those who need care the most, which can prevent urgent medical situations.
• 💼 Physicians do not need to add staff to deliver RPM services; existing staff can use underutilized time to deliver these services, and the technology handles much of the effort automatically.
• 💼 The revenue generated from RPM is high-margin due to the low or no cost of implementation and delivery, making it an attractive option for practices looking to increase their bottom line.
• 📚 CMS and commercial payers have expanded support for RPM services, keeping reimbursement rates strong and increasing flexibility for providers, which makes RPM easier to implement and more profitable.
• 💡 Coach Care offers a comprehensive RPM solution that includes a custom branded mobile app, provider dashboard, connected devices, and expert support, all designed to maximize reimbursements and patient outcomes.

Q & A

What is the primary focus of Coach Care's video?

The primary focus of Coach Care's video is to explain how physicians can increase their monthly revenue by over $20,000 and improve patient outcomes without adding staff or chasing new patients, through the implementation of remote patient monitoring (RPM) programs.

How did Dr. Verma's practice benefit from implementing a remote patient monitoring program?

Dr. Verma's practice, an internal medicine physician, grew their remote patient monitoring program from zero to nearly $21,000 in monthly revenue with just a hundred patients.

What is the significance of the Hern Hernreed Center's RPM program growth?

The Hern Hernreed Center, a large physician center of excellence, grew its remote patient monitoring program from zero to $21,000 in monthly revenue with approximately 100 patients, demonstrating the effectiveness of RPM in different healthcare settings.

How did Jiva Health's RPM program impact their monthly revenue?

Jiva Health, a multi-specialty physician group, grew its remote patient monitoring program from zero to over $103,000 in monthly revenue with over 500 patients.

What benefits did the patients in the obesity cohort experience using RPM services?

Patients in the obesity cohort using RPM services lost 86.3 percent more weight than patients not using RPM services, and they stayed on their programs 30.2 percent longer.

What are the market tailwinds supporting RPM services mentioned in the video?

The market tailwinds supporting RPM services include consistent expansion of support by CMS and commercial payers, alignment with the broader transition to value-based care, strong reimbursement rates, and increased flexibility for providers to utilize RPM.

Who is the target audience for Coach Care's RPM services?

The target audience includes physicians who need to add substantial revenue to their practice, build a best-in-class patient care program, have been frustrated by administrative burdens in launching new services, feel they can't help patients enough, and are concerned about reductions in insurance payouts.

What are the key activities needed to achieve significant revenue increase and patient care improvement?

The key activities include implementing remote patient monitoring services, monitoring patients and proactively targeting those that need care most, and ensuring proper billing and reimbursement for RPM services.

How does Coach Care assist with the billing process for RPM services?

Coach Care provides automated time tracking, auto-generated super bills, and on-call AHIMA and AAPC certified RPM billing experts to train staff, increase the amount of money collected, and minimize audit risk.

What is the cost associated with implementing Coach Care's RPM solution?

The cost includes a base license fee of $6,000 per year plus $30 per RPM patient per month, and a one-time fee of $60 for each RPM patient's device.

What is the process for getting started with Coach Care's RPM solution?

To get started, interested parties need to take a short quiz to see if their organization is a fit for RPM. Based on the quiz results, a Q&A and tour of the technology may be scheduled.