Are you missing out? 6 ways that remote patient monitoring can help drive MedTech revenue
Healthcare organizations are increasingly harnessing remote patient monitoring (RPM) to improve efficiency, lower healthcare costs, achieve better patient outcomes, and engage and empower patients. At the same time, RPM enables providers to harness the power of real-world data (RWD) and real-world evidence (RWE) to increase revenue.
Huma’s award-winning, industry-leading RPM platform unlocks the following key opportunities for MedTech companies to demonstrate revenue generation and added value across the care continuum:
1. Delivering RWE to inform new product development and accelerate speed to market
The recently renewed and updated fifth generation of the Medical Device User Fee Agreement (MDUFA) features unprecedented provisions for increased predictability, consistency, and communication between medical technology innovators and the FDA. This creates both an opportunity and advantage for those MedTech companies who can demonstrate RWE of product efficacy and impact at scale.
How Huma helps: With its ability to collect patient-reported outcome (PRO) and connected device data at scale, our regulated and fully-compliant platform answers the FDA’s call for safe, new technologies and provides the real-world evidence required to support faster regulatory submissions and approvals as well as inform the development of new products and solutions for global markets.
2. Optimizing surgical waitlist management
In a pre-operative scenario, gathering RWD enables more effective prioritization of surgical waitlists, increasing efficiency and expediting treatment for those who cannot wait. Meanwhile, RPM enables lower acuity post-operative patients to be discharged quicker, which not only frees up valuable hospital beds, but often leads to faster recovery and more positive outcomes for patients in the home (a 40% lower cost of care and 70% lower rates of readmission, according to this HCCI study).
How Huma helps: During a six-month study with Royal Brompton and Harefield Hospitals in the UK, of the 525 patients using the solution, 51 (9.71%) were identified as at risk of deteriorating by nurses based on data captured via the RPM platform and subsequently escalated to their respective consultant. The study illustrated our platform’s ability to support clinical teams in monitoring patients and prioritizing urgent cases without overwhelming the healthcare system, while also reassuring patients that they are being monitored safely.
3. Expanding clinical capacity and improving outcomes
RPM has already proven its ability to ease the workload of doctors, nurses and other caregivers by reducing the need for readmissions and enabling clinicians to prioritize patient cohorts, allowing them to focus on the highest acuity patients. Known formally as exception-based management – or the process of providing focus where it's needed most at any given time – RPM platforms give providers instant access to near real-time patient data, enabling them to be more productive and intervene quickly before a patient’s condition escalates, thereby improving outcomes and reducing the overall cost of care.
How Huma helps: A recent NHS study showed that Huma nearly doubled clinical capacity and reduced readmissions in tech-enabled COVID-19 virtual wards.1 The mortality rate of patients in the Huma cohort was 3-4 times lower compared with non-Huma patients.2 Huma patients also had shorter hospital stays in comparison to the national figure during the first wave of the COVID-19 pandemic (6 vs 10 days).2
4. Extending opportunities for reimbursement with pre- and post-surgical monitoring
In addition to the remote monitoring of patients with chronic conditions, some RPM platforms are extending patient engagement into pre- and post-operative recovery and monitoring periods, which opens up new opportunities for reimbursement for healthcare providers. In some early adopter markets such as Germany, digital therapeutics are now eligible for statutory reimbursement (under the DiGA Fast Track regulation), which is a growing trend as payors awaken to the benefits of RPM. Telemedicine has been effectively regulated in France since 2018, and the nation has announced that new legislation will essentially follow Germany’s lead and allow for reimbursement of software-based remote monitoring of chronic diseases, as well as introduce an early reimbursement mechanism for innovative digital MDs used for remote monitoring.
How Huma helps: Huma’s platform facilitates pre- and post-surgical monitoring with proactive identification of patient deterioration and adverse events with almost 90% specificity. With Huma, providers spend 40% less time reviewing patients4 — or 210 minutes saved per patient over the course of 14 days — and readmission rates drop by as much as 10%.4 The frequency, volume and quality of data collection, as well as the user-friendly visualization of key insights also makes it easier for physicians to monitor and evaluate patients throughout the care continuum, which expands reimbursement opportunities for healthcare providers.
5. Optimizing patient adherence to care management plans
Low medication adherence is a reliable indicator of 30-day readmission rates. In this study, patients with low and intermediate adherence had readmission rates of 20.0% compared to a readmission rate of 9.3% for patients with high adherence, which negatively impacts a hospital’s bottom line.
How Huma helps: Huma partnered with the Welsh Government on a 12-week pilot to test and deploy Huma’s ‘hospital at home’ platform to manage heart failure patients remotely. Cardiac nurse practitioners in the NHS and Cwm Taf University Health Board (CTMUHB) and Betski Cadwalady University Health Board (BCUHB) used the app to identify patients requiring further medical attention and allowed early discharge for patients in a stable condition who could be safely monitored at home. CTMUHB’s clinical teams were able to track their patients’ progress and quickly determine who needed extra tests and interventions. They were also able to reduce the time needed to optimize patients’ medications by 75%. Additionally, the built-in telemedicine module allowed them to consult with their patients remotely, leading to a 19% reduction in the number of face-to-face outpatient appointments. One hundred percent of the patients responded that the software was helpful in improving communication with clinicians as well as managing their cardiac conditions.5 Across care and research deployments, Huma typically achieves 90-95% adherence and retention rates.6
6. Increasing patient and clinician engagement to drive customer loyalty
The ability to demonstrate increased patient as well as clinician engagement is key to building credibility with customers. Continuous reporting of real-world data and the ability to extract RWE at scale boosts confidence among providers and enhances their ability to meet federal reporting requirements.
How Huma helps: Huma’s award-winning patient-centric design boosts clinician and patient engagement, and helps MedTech build stronger, longer-term relationships with care providers and customers. When deployed for patients with orthopedic implants in partnership with Smith+Nephew (S+N), 93% of patients reported ‘good’ or ‘very good’ care.1
A companion app case study
Starting in 2018, Huma partnered with Smith+Nephew to develop a SaMD companion solution for orthopedics implants.
The Huma app provided patients with pre-surgery guidance and access to virtual rehabilitation resources and video calls with their surgical team. Meanwhile, it enabled clinicians to monitor patients before surgery and throughout recovery.
There are 15 markets in development, covering more than 12 clinical pathways. We have targeted a reduction in patients’ Length of Stay, and have seen improved outcomes for patients in orthopedics, sports medicine and wound care.
One S+N patient said the app “was like my own private doctor at home” following her surgery.
Speed your way to market success
Huma has been delivering impact by deploying digital-first care and research solutions globally since 2011.
More than 1.8 million active users7 at more than 3,000 hospitals7 use our platform to make sustainable impacts in the lives of more than 27 million patients7 – and to make a significant impact in their organizations’ bottom lines.
Our fully-compliant SaMD platform accelerates time to market for regulated digital health products, including companion apps, patient support and engagement programs. Our platform capabilities are augmented by connected devices which capture a range of biomarkers, ensuring objective data collection, with higher accuracy and minimal human error. Our platform is ready to deploy immediately in more than 60 countries across the US, Europe, China, Middle East, Southeast Asia and elsewhere.7
Huma enables MedTech companies to optimize treatments through real-world insights and remote monitoring — and to drive real revenue to the bottom line.
Are you looking for a digital health partner that can accelerate your speed to market while also enhancing your ability to engage with patients and clinicians quickly and efficiently and demonstrate RWE at scale? Click here to talk to us.
