Remote Patient Monitoring: Fee for Service vs. Value-Based Care
As the number of benefits of using remote patient monitoring (RPM) continues to grow, more healthcare providers are interested in adopting RPM within their practice. In fact, we took a poll in a webinar earlier this year and found out that 74% of providers have thought about implementing RPM in the past – and 73% are interested in RPM for both Fee-for-Service and Value-Based Care.
Building on the idea that practicing proactive, outcomes-focused care is the best way to improve patient outcomes, while also reducing overall care costs, the Centers for Medicare & Medicaid Services has stated that they aim to have all Medicare and Medicaid beneficiaries enrolled in an accountable care program or Value-Based Care program by 2030.
The desired switch to Value-Based Care was a focus in the 2024 Physician Fee Schedule, with changes in store to the Medicare Shared Savings Program and more positive changes to support Accountable Care Organizations.
But how can providers successfully implement RPM, and what does this look like in a Fee-for-Service model vs. a Value-Based Care model?
Implementing RPM in a Fee-for-Service Model
While the healthcare industry continues to shift to a Value-Based Care model, around 40% of healthcare organizations still receive revenue from Fee-for-Service reimbursements. In this type of model, providers are reimbursed for the quantity of services they provide.
When it comes to implementing RPM in a Fee-for-Service model, ensuring patient engagement and compliance are key to both a successful program and profitability for the organization.
This model is a great option for providers who are getting started with an RPM program for the first time – particularly if they are outsourcing the clinical monitoring aspect – helping providers save time, optimize patient care and maximize patient engagement.
Implementing RPM in a Value-Based Care Model
On the other hand, in a Value-Based Care model, providers are reimbursed based on the quality of the care they deliver. RPM programs that are value-based focus on patient outcomes and offer reimbursements based on the quadruple aim of healthcare – better patient outcomes, lower costs, and improved patient and provider satisfaction.
The Value-Based Care model's focus on improving quality allows for long-term reductions in acute care and ER utilizations, which can reduce overall cost. It also plays a large part in improving relationships with patients through transparency of data, leading to more patient buy-in and long-term engagement, therefore reducing downstream impacts of chronic diseases.
One such example of a Value-Based Care model in action is Desert Oasis Healthcare (DOHC), a leading regional medical group in the Coachella Valley. By implementing Rimidi’s RPM platform, the provider has been able to increase patient data transparency and engagement, allowing patients to stay on track with their goals regularly, resulting in better patient outcomes. The group has also been able to reduce hospitalizations, decrease A1C levels in patients with Type 2 Diabetes and low-density lipoprotein (LDL) in patients with heart disease.
Where Rimidi Can Help
Both Fee-for-Service and Value-Based Care organizations understand the benefits of RPM, and Rimidi’s RPM platform can support both models – via integration with easy-to-use devices, billable activity capture for RPM, CCM, RTM, and CGM, EHR workflow integration, comorbid disease management and risk stratification, and gaps in care closure.
Rimidi’s platform aggregates the patient-generated health data, along with clinical data from the EHR, to give clinical teams a complete view of the patient. Doing so optimizes clinical workflows and provides the insights and actions necessary to drive better patient outcomes.
Whether you are looking to implement RPM to support your Fee-for-Service or Value-Based Care model, connect with the Rimidi team today to learn more about how you can easily implement RPM into your practice.
