How Much Does Remote Patient Monitoring Software Cost?
For your medical practice or large hospital group to offer Remote Patient Monitoring (RPM) services, you’ll want to consider software to help manage the back-end of this program.
But how much does RPM management software cost?
It all depends on various factors, such as device selection, features, and the number of patients you’ll serve.
Software options start as low as $0.99 or run as high as $8 per patient per month.
Full-service solutions, in which a third party completely manages your program, may cost as much as $20-$30 per patient per month.
There’s also the matter of paying for RPM devices, themselves. A separate cost.
Without a bit of research, you could end up either overpaying for a software option that’s beyond what you’ll require, or commit to a product that’s too basic for your expansive needs.
At ThoroughCare, we’ve helped more than 550 healthcare organizations utilize the right care management software for their needs.
As a company that offers RPM software solutions, we know what to look for in a quality product and what to consider when making a selection.
Below, we’ll delve further into the factors that determine pricing.
We’ll cover device integration and purchase options, software features, and technical support/training resources.
You’ll have a clearer understanding of how to shop for patient monitoring software, and you’ll likely feel ready to view a product demonstration to aid in your search.
The Difference Between Low and High-Cost RPM Software
The key difference between low-price and high-price remote patient software is the depth of tools and features.
Ultimately, the adage “you get what you pay for” rings true.
Low-price software solutions tend to increase your staff’s workload. They require extensive manual input of data, with little-to-no opportunity for automation.
Low-price solutions may also lack extensive reporting, clinical content, and auditing functions, along with poor technical support.
Premium RPM management software will support an extensive list of features and functionality.
Though premium products will cost your organization more, their benefits often lead to higher returns on investment than low-cost options.
Is RPM Software a One-Time Expense or Recurring Cost?
While some may offer their product for a single payment, it’s more common that care management software companies charge a monthly subscription rate.
Some charge a flat fee for a particular package. This can include a suite of additional tools, training resources, and enrollment of a large patient population.
Others charge a flat fee per patient that is enrolled. Your total expense will depend on how many patients you enroll in your remote monitoring program.
For a smaller medical practice, the per-patient fee model usually makes the most sense. It can be more cost-efficient when you’re working with fewer program enrollees.
Package deals are typically geared more toward large hospital groups, who have more patients and can require broader technical support.
What Type of RPM Device Connectivity is Supported?
Remote monitoring devices synchronize with computer software to report and collect a patient’s vitals, such as blood pressure, weight, pulse, or blood glucose.
RPM management software collects and helps analyze this data on behalf of the provider.
There are two connectivity types associated with devices — cellular and Bluetooth. There are pros and cons to each connection type, but what you select depends on your preference.
Not all software solutions support both types, or they may charge additional fees to support those connections.
It’s key to consider this detail as you shop for management software.
It will not only influence the price you pay, but it may affect your patients, especially those living in rural communities with limited cellular service.
Does Purchasing or Leasing RPM Devices Affect Software Cost?
In most cases, you will decide whether to fully purchase your program’s remote monitoring devices, or lease them from a device manufacturer or third-party RPM vendor.
Like connection types, there are pros and cons to leasing versus buying RPM devices.
For the sake of this article, though, you’ll want to consider how either scenario will affect software cost.
Some software vendors may charge an additional connectivity fee when you utilize devices you’ve purchased, whereas leased devices may factor this expense into the overall lease cost.
Or, is it possible that in the long run, paying this additional fee yourself is more economical?
Explore your options and consider what makes the most sense for your practice.
What Features Influence the Cost of RPM Software?
Software companies will price their product, in part, by the features included. As well, for the money you spend, you should expect certain offerings.
Below, we cover three features of RPM care management software you should look for.
When shopping around, seek extensive reporting features.
These include comprehensive and exportable reports of:
- Time logs
- Enrollment information
- Billing and claims information
- Care plans
- Remote device notes
- Device readings
You should easily be able to see all of your clinical data, summaries, and activities in PDF or CSV formats.
Reporting allows providers to measure the effectiveness of the programs they’re managing and leverage the data to learn, adapt, and improve their programs.
Reporting can also be beneficial in case of an audit by Medicare.
Unlike other of its preventive health programs, Medicare does not require a patient care plan for the individuals enrolled in a remote monitoring program.
That said, doing so is optional, and a care plan can provide additional support and guidance when running your program. Some software will provide templates to do so.
A comprehensive care plan for all health issues typically includes, but is not limited to, the following elements:
- Measurable treatment goals
- Symptom management
- Expected outcome and prognosis
- Planned interventions and identification of the individuals responsible for each intervention
- Medication management
- Community/social services ordered
- Schedule for periodic review and, when applicable, revision of the care plan
As mentioned earlier, low-cost solutions may still require you to manually input most patient information.
The best care management software will use a guided interview approach for care plan creation.
This approach walks the care manager through the entire process step-by-step. The software will have clinical content built-in, doing most of the leg work.
As well, having a care plan creation feature with your RPM software can be of benefit if you intend to pair this program with another, such as Chronic Care Management (CCM).
Want help analyzing your patients’ data?
Some RPM software solutions provide visualization tools to help interpret vitals. This can be instrumental in spotting certain trends and preventing emergency health matters.
It’s a way to ensure the data that is collected serves a greater purpose. That it can be utilized through a macro and micro lens.
While some software companies may charge an additional fee for such a tool, others include it in the regular cost.
Tech Support and Remote Monitoring Software Training
When purchasing RPM management software, consider it as if you’re starting a relationship with the vendor.
A relationship thrives when your partner supports you. So, look for a strong support system when shopping.
Ask whether the vendor will assist with onboarding. Some questions to ask include:
- Will the software company supply training?
- Is this an extra cost or included?
- Does the software have ongoing technical support after onboarding?
- Is there a library of educational content and software tutorials?
The best RPM software will include onboarding and training for your staff, as well as live technical support.
A large library of educational content and resources doesn’t hurt, either.
These resources will ensure you make the most of your purchase, meaning you’ll make the most of your remote patient program.
Try a Software Demo to Compare Cost Benefits
Receiving a product demonstration is a crucial component of the buying process.
If you’re leaning toward a particular software vendor, a demo is an opportunity to see what your money would acquire.
ThoroughCare’s RPM platform offers many of the features and device options described above.
And our approach to cost is holistic, ensuring you have all the tools you’ll require, and the ability to quickly scale your patient population.
So, why not try a demo of our remote monitoring software module? We’ll show you exactly how we can help you.
Not ready for a demo? No worries. Our Learning Center supports additional content resources to inform you more about the intricacies of RPM.
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