Tool analyzes ROI for remote patient monitoring programs

The Center for Connected Health (CCH) and the Center for Technology and Aging have jointly developed an online tool that enables providers to evaluate the return on investment (ROI) for patient monitoring programs for patients with heart failure, according to a June 10 announcement.

The tool, which was developed with support from the California HealthCare Foundation, allows providers to determine the current ROI of an established remote monitoring program and project ROI for future years. To that end, entities can utilize the tool to help make the economic case needed to take such programs to scale.

“This new tool not only assists program managers to evaluate financial ROI, but it also identifies potential program efficiencies, making the ROI tool effective for both evaluation and decision-making,” Kamal Jethwani, MD, MPH, CCH’s corporate manager of research and innovation, said in a statement.

HealthCare Partners (HCP), a physician group based in Calif., determined a positive ROI for a remote patient monitoring program for patients with chronic obstructive pulmonary disease. HCP’s interactive voice response program had a positive ROI of 1.3 to 1 after one year, and is projected to increase to 18.9 to 1 by the fifth year.

“Results from using the ROI tool further support the use of remote patient monitoring as an effective means of lowering avoidable hospitalization rates,” according to the announcement.

The ROI calculator for heart failure monitoring can be accessed here.