Lenders to, buyers of, and managers of medical practices, rural health care clinics, and federally qualified health centers should increase their due diligence of remote patient monitoring services used by physicians. Physicians should also increase their scrutiny of the remote patient monitoring services they use.
Telehealth Prevalence Grows
The Centers for Disease Control and Prevention reported that in 2021, 37% of adults had used telehealth services in the last twelve months. Telehealth can be provided through video chats, remote patient monitoring devices, and phone calls. Remote patient monitoring involves the collection and analysis of patient data used to develop and manage a treatment plan related to a chronic or acute health condition. Remote patient monitoring can benefit patients by eliminating the time and cost of travel to a provider. Remote patient monitoring can also increase a patient’s adherence to a treatment plan.
For physicians, patient monitoring services can increase net patient revenue. Chronic Care Management is one of several monitoring services to help patients stay on track by getting support for their chronic illness between visits. Chronic Care Management is coordinated services done outside of the regular physician office visits. These services are typically not face-to-face and allow eligible practitioners to bill for at least 20 minutes or more of care coordination services per month with an average reimbursement of $38-$65 per qualifying...
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