June 22, 2023

The economics of remote care management

Today, scalable remote care management is an essential part of medical practices’ growth, improving health outcomes for patients, increasing satisfaction for providers, reaching and caring for more patients - and is key to staying competitive.

The economics of remote care management

Comprehensive remote care programs save money, improve outcomes and increase revenue

Today, scalable remote care management is an essential part of medical practices’ growth, improving health outcomes for patients, increasing satisfaction for providers, reaching and caring for more patients - and is key to staying competitive. With a successful, scalable remote care program you increase the efficiency, effectiveness, quality and outcomes of your practice and care delivered to your patients. And, you get a broad range of services and efficiencies that improve the quality of care and systems for your practice with no upfront costs and greater opportunities to increase revenue from reimbursement. 

Benefits of scaling = reaching more patients, improving outcomes + staying competitive Without breaking the bank

Automation - a key component to scalable remote care management -  allows you to increase efficiencies and improve accuracy, bill quickly, increase revenue, generate reports and be compliant ready. Automation also helps to improve access to care, the quality of care delivered, patient health outcomes, patient satisfaction, provider satisfaction and to build relationships between the care team and patient. The cost savings and revenue improvements come as a by-product of providing improved, accessible, high quality and caring care. 

Help your practice thrive - what’s included in a successful, scalable remote care management program 

  • Improve quality and effectiveness of care  →  No upfront costs
  • Increase efficiency and effectiveness  of your practice → Increase revenue

Scaling allows you to increase the volume and quality of the care creating an exponential benefit to the practice. Working with a company like Medsien allows you to have a full program - with all the benefits outlined below - with no costs or burden to your team, and increased revenue opportunities as you expand and bill for remote care services. A successful and comprehensive remote care management program brings your practice:

Updated, highly sophisticated software and a supportive infrastructure

  • Seamless EHR integration with highly sophisticated software and sophisticated, reliable software infrastructure lays the groundwork for your program. 
  • Accurate patient data and encounters tracking - increases accuracy, cross provider communication, care and outcomes tracking, billing and compliance. 
  • Efficient workflows - set  up clear standards of care and specific steps in each type of remote care program. 
  • Better data, tracking and automation allow you to provide and bill for more remote care services to more eligible patients - improving care, outcomes and increasing revenue for the practice. 

Learn more about the long term success of these programs

Substantial staffing to run successful programs

  • New (additional) certified clinical staff dedicated specifically to establish remote care with your patients and to develop and run successful remote care management programs.
  • Often up to 30-40 new staff to manage between 5,000-10,000 patients, and to ensure high quality of care and quality assurance of the programs
  • Hired, managed and trained by Medsien - adding a huge benefit to your practice for no cost
  • Remote care management staff allows your practice to deliver expanded care and services to many more patients, increasing revenue for your practice
  • Expand the scope, depth and quality of care with no financial or staffing burden on your staff

Important processes to track, monitor, and analyze data   

Some important processes and protocols that are included in a comprehensive remote care management program with automated reporting, tracking and billing include:

  • A solid quality assurance process, as well as quality protocols and continuous quality improvement analyses
  • Compliance, audit trails and accurate record keeping that make your practice audit ready and audit proof
  • Automatically integrated CMS guidelines and annual updates for coding, billing and programmatic changes
  • Keeps on track for billing and coverage changes that can further expand the range of services and increase reimbursement and revenue 
  • Involving  providers in the care process without adding more work for them to do
  • Summary reports and other reporting processes will ensure all providers working with the patient have the most recent notes and information and updates at their fingertips. Provider and patient engagement will fuel the other
  • Specific workflows and care modules to follow - ensuring consistency of the programs and consistency of the care provided through an established standard of care for the practice and for remote care management programming
  • Protocols for specific use cases that allow efficiency and effectiveness, while still allowing patient care specification and an individualized approach to each patient’s care 
  • Patient grievance procedures and complaints tracking and reporting to allow for accurate and timely responses and follow up
  • Accurate and timely billing - which yields on-time payment and consistent revenue for the practice.

Improved processes and data ensure greater effectiveness which saves costs, improves quality and increases revenue. Read more about essential components of a scaled remote care management practice

Increased revenue

Fully integrated, automated remote care programs, with a supportive staffing model, help you get back to delivering good, accessible and timely care. And you don’t have to break the bank or your practice to deliver that level of care.

  • Increased automation yields more patients identified as candidates for remote care management
  • Increased staffing yields more providers to manage the remote care management side of patient care. 
  • Medsien staffing model - High quality staffing at no cost or burden to your practice
  • Improved processes and tracking allow for efficient coding and billing for new remote care services. 
  • Once you have the systems in place to increase billing and have the staffing support to provide remote care management, you can increase revenue for the practice at no cost to the practice or your team

How can my practice do this? 

Full service remote care management not only doesn’t have to break the bank, but actually creates greater efficiency and effectiveness of systems, processes and care provided, saves you money and increases revenue – all while simultaneously improving the quality of care provided, health outcomes and your practices’ systems. 

With well designed, top of the line systems that are designed to be streamlined, software expertise and highly-reputable software and staffing systems - Medsien has created a core structure that can then be quickly customized and integrated into your system in just a matter of days. Our initial product - scalable remote care management programs - have been created to allow for economies of scale as we bring it into your practice. Medsien’s remote care management systems allow you to almost immediately scale your programmatic reach - increasing the number of patients getting remote care, and improving the quality of that care, their health outcomes and satisfaction - without stressing your team or breaking the bank. With Medsien, you’ll also bring dramatic efficiencies and benefits to your system with little cost to you. And ultimately, help increase your revenue with the scaled volume of services you provide, systems you improve and most importantly patients you can reach, which improves the quality and scope of care you are providing. Medsien can bring all this to you up front - a massive, comprehensive amount of services and improvements - quickly and efficiently - often starting whole programs within a week.

With a reliable remote care management system, you’re able to complete more remote care management interactions, and as more services are provided and coded, your practice is able to bill for remote services (and patients are able to be well managed). Our automated systems ensure that all remote care services are billed quickly and easily so it’s highly efficient, accurate and ensures revenue. So the practice doesn’t pay anything at the onset (cost savings) and also receives more money as opportunities to provide more care and improve outcomes yield increased reimbursement and revenue for the practice. 

  • Most setups have no upfront costs
  • Improved outcomes and revenue 
  • As you bill more remote care management services - and provide more care, at higher quality and efficiency you yield improved outcomes and increased revenue - this benefits the practice across the board. 
  • Since Medicare introduced Chronic Care Management codes and reimbursement in 2015, each year the codes, categories and opportunities for remote care management reimbursement have expanded more and more
  • Takes the pressure off your practice with staffing expansion included through Medsien. This allows your team to provide more care and improved care to your patients. 
  • Giving you increased quality, efficiency and effectiveness of care - all with no out of pocket costs 

The economics of remote care management 

Ultimately, this is about the comprehensive goods and services - the product provided or produced (volume economics). In this case, the scalable remote care management program(s). You do increase patients enrolled (units), but it's the big picture, more comprehensive, economic benefit that gives you your greatest, long-term yield. The volume achievable with good remote care management significantly benefits a practice, and is ultimately why a full-service remote care management program doesn't have to break the bank.

In general, when practices start looking at the potential revenue, or the upside of these programs, they are very much focused on (the) unit economics. While technically, there may be a slightly lower margin on per patient level when looking at the units - but as a volume impact on a macro level, you'll have a lot more upside and really see the impactful benefits, when doing full service. Read more about being audit-proof and the long-term success of our programs.


Volume Economics vs Unit Economics

Unit economics are the direct revenues and costs associated with a particular business model expressed on a per unit basis. In a consumer economy - the unit is the user, or in this case, the patient. The amount of revenue a single user generates during the duration of their usage or services =  Lifetime value (LTV) and Cost per acquisition (CPA) - which is how much it costs to acquire a user.

However, the volume shows the number of goods/services that are produced. The value of goods/services shows what certain goods/services are worth. Volume is derived from value and price - Volume + Value/Price - and is always published as a change. Volume changes consist of three components - the changes in quantity, quality and the basket of goods. In healthcare more volume means more claims - you have to forecast ahead of time so that you can prepare your front-end and back end process for handling claims. You don't want to get more patients in the door, to then not be able to handle their care or their claims. Medsien’s automated systems prevent that. 

Reimagining remote care management 

Comprehensive, scalable remote care management programs benefit patients and practices through software structure, staffing and processes - increasing the volume of patients and services rendered, as well as quality, efficiency and effectiveness of the care. It is very difficult and quite expensive for a practice to do this on their own. Medsien’s highly specialized software, staffing and adaptability help practices bring all the benefits of remote care management at a very low cost/volume of services - and yield a very high cost/benefit ratio for the scope of services received. Learn more about reimagining remote care management.

About Medsien

Medsien is the leading provider of scalable remote care management for a quality patient experience. Hundreds of organizations trust Medsien’s unparalleled technology solutions to implement exceptional remote care management programs, personalize every interaction, and improve the lives of the people who need it most. Medsien was founded to reimagine remote care management.

Rebecca Steinfeld

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