Study: Savings from Home Monitoring
HDM Breaking News, January 28, 2009
Remote, home-based physiological monitoring of patients with congestive heart failure can save thousands of dollars per patient per year through fewer hospitalizations, according to a new report.
The New England Healthcare Institute, a Cambridge, Mass.-based independent research firm, has updated a report on remote physiological monitoring it published in 2004. The new data estimates an annual cost of $2,052 per patient for the monitoring technology. Add disease management software to the mix, and that price would go up to $2,802.
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The return would come from a 60% reduction in hospital readmissions for patients that have standard care and remote monitoring, and a 50% cut in readmissions for patients that participate in a disease management program along with the monitoring, report authors estimate.
They also estimate savings of $3,703 per patient per year for those with remote monitoring and disease management programs, and $5,034 for those with remote monitoring and standard care. Consequently, the technology has the potential to save $4.7 billion to $6.4 billion a year, report authors conclude.
For the full report, "Research Update: Remote Physiological Monitoring," click here.
--Joseph Goedert
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