As we reach the latter end of the year, 2020 has undoubtedly witnessed the explosion of Remote Patient Monitoring services in the healthcare community, irrevocably placing a significant impact on reshaping the medical landscape for physicians and practices worldwide. A recent benefactor of RPM is our client, a family-focused medicine practice based in Illinois, with over 30 years of attaining successful treatment outcomes placing patients at the forefront of clinical priorities.
Given the imminent need to adapt to the unfolding situation, the client was initially hesitant in outsourcing their chronic care services, however as the patient is always the priority, our client made the smart move to adopt and integrate our specialized TrueBlue MD remote patient monitoring patient services as a direct smart solution with immediate effect.
70% of the practice’s Medicare population suffers from chronic diseases that required ongoing close monitoring but due to the unprecedented outbreak of COVID-19 were unable to attend and therefore access their regular in-office appointments.
Consequently, the practice experienced a drastic decrease in revenue intake due to the sudden drop-in office appointments.
TrueBlue MD presented a number of measurable action plans customized to the needs of the family practice with the aforementioned challenges in mind.
The first port of call included an action plan detailing new viable streams of generating income into the revenue cycle, including establishing new channels of communication across all levels of workflow from practice to patient.
To launch an expert team of certified personnel trained to provide medical expertise over the phone and to offer immediate around-the-clock assistance to patients with inquiries related to their condition on the app.
Ship medical devices to patient’s homes for the purpose of recording patient health metrics while addressing any significant changes in data parameters registered by patients on the app. In such cases, TrueBlue MD team of on-call experts will receive an alarm notification informing them of any sudden changes, prompting our trained clinical staff to call the patient directly and investigate further to determine if an escalation to the office is required.
To conduct health coaching calls on a monthly basis for patients through our fully qualified clinical staff, to review and update patient charts, updating health status in real-time, and ultimately fill the care gap in aiding patients to achieve their health goals in measurable time.
TrueBlue MD was able to successfully remodel the family practice’s revenue cycle resulting in the opening of additional channels of positive cash flow unattainable in previous day-to-day practice operations. Specially,
36% of the Medicare patient population expressed a strong interest in joining the program. Given the financial potential of reimbursement payments as outlined in the new 2020 CMS CPT codes for chronic care patients, this holds enormous potential for securing a healthy bottom line in extending the longevity of the practice, therefore, allowing for the continuation of optimal healthcare services.
All interested patients were connected directly to a live channel of trained clinical staff via the phone and app channels and were, therefore, able to immediately access medical expertise and access their physician if required in real-time from the safety of their home thus reducing potential exposure to COVID-19 and other potential diseases.
Newly added $2000 in revenue per year per patient was achieved. For every 300 patients, this translates to an astounding $580k annually-the future is clearly in favor of RPM.
As a direct result of TrueBlue MD RPM integration, all levels of the workflow from administrative staff to physicians were able to focus on more critical aspects of clinical operations thereby delivering more seamless and efficient healthcare outcomes in the most cost-effective timely manner possible.
In TrueBlue MD, there is no substitute for excellence, we are committed to shaping your future.