Article

How remote patient monitoring can help drive MedTech revenue

December 23, 2022
Article

How remote patient monitoring can help drive MedTech revenue

December 23, 2022

Alex Gilbert

VP - Commercial

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Are you missing out? 6 ways that remote patient monitoring can help drive MedTech revenue

Healthcare organizations are increasingly harnessing remote patient monitoring (RPM) to improve efficiency, lower healthcare costs, achieve better patient outcomes, and engage and empower patients. At the same time, RPM enables providers to harness the power of real-world data (RWD) and real-world evidence (RWE) to increase revenue.

Huma’s award-winning, industry-leading RPM platform unlocks the following key opportunities for MedTech companies to demonstrate revenue generation and added value across the care continuum:

1. Delivering RWE to inform new product development and accelerate speed to market

The recently renewed and updated fifth generation of the Medical Device User Fee Agreement (MDUFA) features unprecedented provisions for increased predictability, consistency, and communication between medical technology innovators and the FDA. This creates both an opportunity and advantage for those MedTech companies who can demonstrate RWE of product efficacy and impact at scale.

How Huma helps: With its ability to collect patient-reported outcome (PRO) and connected device data at scale, our regulated and fully-compliant platform answers the FDA’s call for safe, new technologies and provides the real-world evidence required to support faster regulatory submissions and approvals as well as inform the development of new products and solutions for global markets.

2. Optimizing surgical waitlist management

In a pre-operative scenario, gathering RWD enables more effective prioritization of surgical waitlists, increasing efficiency and expediting treatment for those who cannot wait. Meanwhile, RPM enables lower acuity post-operative patients to be discharged quicker, which not only frees up valuable hospital beds, but often leads to faster recovery and more positive outcomes for patients in the home (a 40% lower cost of care and 70% lower rates of readmission, according to this HCCI study).

How Huma helps: During a six-month study with Royal Brompton and Harefield Hospitals in the UK, of the 525 patients using the solution, 51 (9.71%) were identified as at risk of deteriorating by nurses based on data captured via the RPM platform and subsequently escalated to their respective consultant.  The study illustrated our platform’s ability to support clinical teams in monitoring patients and prioritizing urgent cases without overwhelming the healthcare system, while also reassuring patients that they are being monitored safely.

3. Expanding clinical capacity and improving outcomes

RPM has already proven its ability to ease the workload of doctors, nurses and other caregivers by reducing the need for readmissions and enabling clinicians to prioritize patient cohorts, allowing them to focus on the highest acuity patients. Known formally as exception-based management – or the process of providing focus where it's needed most at any given time – RPM platforms give providers instant access to near real-time patient data, enabling them to be more productive and intervene quickly before a patient’s condition escalates, thereby improving outcomes and reducing the overall cost of care.

How Huma helps: A recent NHS study showed that Huma nearly doubled clinical capacity and reduced readmissions in tech-enabled COVID-19 virtual wards.1 The mortality rate of patients in the Huma cohort was 3-4 times lower compared with non-Huma patients.2 Huma patients also had shorter hospital stays in comparison to the national figure during the first wave of the COVID-19 pandemic (6 vs 10 days).2

4. Extending opportunities for reimbursement with pre- and post-surgical monitoring

In addition to the remote monitoring of patients with chronic conditions, some RPM platforms are extending patient engagement into pre- and post-operative recovery and monitoring periods, which opens up new opportunities for reimbursement for healthcare providers. In some early adopter markets such as Germany, digital therapeutics are now eligible for statutory reimbursement (under the DiGA Fast Track regulation), which is a growing trend as payors awaken to the benefits of RPM. Telemedicine has been effectively regulated in France since 2018, and the nation has announced that new legislation will essentially follow Germany’s lead and allow for reimbursement of software-based remote monitoring of chronic diseases, as well as introduce an early reimbursement mechanism for innovative digital MDs used for remote monitoring.

How Huma helps: Huma’s platform facilitates pre- and post-surgical monitoring with proactive identification of patient deterioration and adverse events with almost 90% specificity. With Huma, providers spend 40% less time reviewing patients4 — or 210 minutes saved per patient over the course of 14 days — and readmission rates drop by as much as 10%.4 The frequency, volume and quality of data collection, as well as the user-friendly visualization of key insights also makes it easier for physicians to monitor and evaluate patients throughout the care continuum, which expands reimbursement opportunities for healthcare providers.

5. Optimizing patient adherence to care management plans

Low medication adherence is a reliable indicator of 30-day readmission rates. In this study, patients with low and intermediate adherence had readmission rates of 20.0% compared to a readmission rate of 9.3% for patients with high adherence, which negatively impacts a hospital’s bottom line.

How Huma helps: Huma partnered with the Welsh Government on a 12-week pilot to test and deploy Huma’s ‘hospital at home’ platform to manage heart failure patients remotely. Cardiac nurse practitioners in the NHS and Cwm Taf University Health Board (CTMUHB) and Betski Cadwalady University Health Board (BCUHB) used the app to identify patients requiring further medical attention and allowed early discharge for patients in a stable condition who could be safely monitored at home. CTMUHB’s clinical teams were able to track their patients’ progress and quickly determine who needed extra tests and interventions. They were also able to reduce the time needed to optimize patients’ medications by 75%. Additionally, the built-in telemedicine module allowed them to consult with their patients remotely, leading to a 19% reduction in the number of face-to-face outpatient appointments. One hundred percent of the patients responded that the software was helpful in improving communication with clinicians as well as managing their cardiac conditions.5 Across care and research deployments, Huma typically achieves 90-95% adherence and retention rates.6

6. Increasing patient and clinician engagement to drive customer loyalty

The ability to demonstrate increased patient as well as clinician engagement is key to building credibility with customers. Continuous reporting of real-world data and the ability to extract RWE at scale boosts confidence among providers and enhances their ability to meet federal reporting requirements.

How Huma helps: Huma’s award-winning patient-centric design boosts clinician and patient engagement, and helps MedTech build stronger, longer-term relationships with care providers and customers. When deployed for patients with orthopedic implants in partnership with Smith+Nephew (S+N), 93% of patients reported ‘good’ or ‘very good’ care.1

A companion app case study

Starting in 2018, Huma partnered with Smith+Nephew to develop a SaMD companion solution for orthopedics implants.

The Huma app provided patients with pre-surgery guidance and access to virtual rehabilitation resources and video calls with their surgical team. Meanwhile, it enabled clinicians to monitor patients before surgery and throughout recovery.

There are 15 markets in development, covering more than 12 clinical pathways. We have targeted a reduction in patients’ Length of Stay, and have seen improved outcomes for patients in orthopedics, sports medicine and wound care.

One S+N patient said the app “was like my own private doctor at home” following her surgery.

Speed your way to market success

Huma has been delivering impact by deploying digital-first care and research solutions globally since 2011.

More than 1.8 million active users7 at more than 3,000 hospitals7 use our platform to make sustainable impacts in the lives of more than 27 million patients7 – and to make a significant impact in their organizations’ bottom lines.

Our fully-compliant SaMD platform accelerates time to market for regulated digital health products, including companion apps, patient support and engagement programs. Our platform capabilities are augmented by connected devices which capture a range of biomarkers, ensuring objective data collection, with higher accuracy and minimal human error. Our platform is ready to deploy immediately in more than 60 countries across the US, Europe, China, Middle East, Southeast Asia and elsewhere.7

Huma enables MedTech companies to optimize treatments through real-world insights and remote monitoring — and to drive real revenue to the bottom line. 

Are you looking for a digital health partner that can accelerate your speed to market while also enhancing your ability to engage with patients and clinicians quickly and efficiently and demonstrate RWE at scale? Click here to talk to us.

Interested in Huma? Let’s talk!

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Making an impact

3000+

3000+ hospitals and clinics supported across Huma platforms to secure the most sustainable impact for patients1

×2

Our platform can almost double clinical capacity and reduce readmission rates by >30%3

27m+

Huma's digital-first health platforms support a network of 27m patients1

1m+

Over 1 million devices have been shipped in support of our projects and we know what it takes to deploy at scale1

Winner of the 2022 Prix Galien award for digital health, widely regarded as 'pharma's Nobel prize'4

Selected as one of 'The Most Important Healthcare Design of 2021' by Fast Company5

Winner of the 2022 Prix Galien award for digital health, widely regarded as 'pharma's Nobel prize'4

Winner of the 2022 Prix Galien award for digital health, widely regarded as 'pharma's Nobel prize'4

Sources:

  1. nhsx.nhs.uk/covid-19-response/technology-nhs/huma-medopad-evaluation-remote-digital-care-platform/ The full report is available on request. Patient feedback based on sample size of 30 responses.
  2. Lim, A. et al. An Outpatient Management Strategy Using a Coronataxi Digital Early Warning System Reduces Coronavirus Disease 2019 Mortality Open forum infectious diseases (2022) 9(4), ofac063 DOI: 10.1093/ofid/ofac063 
  3. Bernard Dillon Obika et al (2021) Implementation of a mHealth solution to remotely monitor patients on a cardiac surgical waiting list: service evaluation, JAMIA Open, Volume 4, Issue 3, July 2021, ooab053, https://doi.org/10.1093/jamiaopen/ooab053
  4. Shah et al. (2021) A prospective observational real world feasibility study assessing the role of app-based remote patient monitoring in reducing primary care clinician workload during the COVID pandemic. BMC Fam Pract
  5. Data from an evaluation of a pilot to explore remote monitoring of patients with heart failure  
  6. Range of data from across a number of Huma projects
  7. Based on internal data, correct as of June 2022
Article

How remote patient monitoring can help drive MedTech revenue

December 23, 2022
Article

How remote patient monitoring can help drive MedTech revenue

December 23, 2022

Huma joins digital pioneers to advance health equity in care and research

Chief Executive Officer and Founder, Dan Vahdat, is returning to the annual World Economic Forum’s main conference where he will join a panel discussion devoted to improving care for non-communicable disease and tackling health equity. Accompanied by Chief Financial and Strategy Officer, Ingeborg Oie, Dan is looking forward to connecting with other attendees to explore how Huma’s digital health platform can make healthcare more equitable, and advances proactive, predictive care.

Huma joins digital pioneers to advance health equity in care and research

Date:Wednesday, January 18, 2023
Time:4:15 - 5:15 p.m. CET
Location:Ice Village, Eisbahnstrasse 5, Davos, Switzerland
Dan will join the Digital Health Action Alliance panel at Davos to discuss Turning the Tide in Non-Communicable Disease Care Through Digital Health and Community Connection. Huma has a long history of advancing the care of non-communicable diseases (NCDs) such as heart disease, cancer, diabetes and lung conditions. Huma’s innovative remote patient monitoring platform enables broad patient recruitment, reduces reliance on in-person clinic visits and increases health system efficiency.
*This session is open to registered Annual Meeting 2023 participants and Affiliate badge holders.

Huma is one of the first to sign the Zero Health Gaps Pledge

Huma is one of the first signatories to the Zero Health Gaps Pledge, the World Economic Forum’s Global Health Equity Network’s (GHEN) initiative. Huma supports GHEN’s ambition to build a future without disparities in health or wellbeing outcomes. Huma’s digital platform has been built on a deep clinical knowledge of complex patient needs and how people engage with technology and we are committed to ensuring our technology promotes health equity. We are proud to work with governments, hospital groups, universities, life science and technology companies to bring greater scale and impact and help all people live longer, fuller lives.

Huma at World Economic Forum

Global Innovators and Tech Pioneers
Dec 2022: Huma selected to join 100 innovative companies on a two-year journey as part of the World Economic Forum’s initiatives, activities and events, bringing their cutting-edge insight and fresh thinking to critical global discussions.
Learn more
Working Together, Restoring Trust
May 2022: With the aim to address economic, environmental, political, and social fault-lines exacerbated by the COVID-19 pandemic, Dan Vahdat speaks at WEF annual meeting about the importance of scientific collaboration.
Learn more
Accelerating innovation and breaking new ground
October 2022: Dan joined the WEF Biotech Future Forum 2022 to discuss how start-ups are breaking new ground in biotech and changing the way we interact with the world, but also how the sector can earn trust, scale successfully and spot the brightest innovations.
Learn more
Making connections at Davos
Jan 2019: Dan attended WEF as an unofficial attendee and spoke to CNBC about the importance of meeting in-person to make connections.
Learn more
Article

How remote patient monitoring can help drive MedTech revenue

December 23, 2022
Media contact
A headshot of Karen Birmingham PhD
Karen Birmingham PhD
Head of PR & Communications
karen.birmingham@huma.com
Article

How remote patient monitoring can help drive MedTech revenue

December 23, 2022
Media contact
A headshot of Karen Birmingham PhD
Karen Birmingham PhD
Head of PR & Communications
karen.birmingham@huma.com

Are you missing out? 6 ways that remote patient monitoring can help drive MedTech revenue

Healthcare organizations are increasingly harnessing remote patient monitoring (RPM) to improve efficiency, lower healthcare costs, achieve better patient outcomes, and engage and empower patients. At the same time, RPM enables providers to harness the power of real-world data (RWD) and real-world evidence (RWE) to increase revenue.

Huma’s award-winning, industry-leading RPM platform unlocks the following key opportunities for MedTech companies to demonstrate revenue generation and added value across the care continuum:

1. Delivering RWE to inform new product development and accelerate speed to market

The recently renewed and updated fifth generation of the Medical Device User Fee Agreement (MDUFA) features unprecedented provisions for increased predictability, consistency, and communication between medical technology innovators and the FDA. This creates both an opportunity and advantage for those MedTech companies who can demonstrate RWE of product efficacy and impact at scale.

How Huma helps: With its ability to collect patient-reported outcome (PRO) and connected device data at scale, our regulated and fully-compliant platform answers the FDA’s call for safe, new technologies and provides the real-world evidence required to support faster regulatory submissions and approvals as well as inform the development of new products and solutions for global markets.

2. Optimizing surgical waitlist management

In a pre-operative scenario, gathering RWD enables more effective prioritization of surgical waitlists, increasing efficiency and expediting treatment for those who cannot wait. Meanwhile, RPM enables lower acuity post-operative patients to be discharged quicker, which not only frees up valuable hospital beds, but often leads to faster recovery and more positive outcomes for patients in the home (a 40% lower cost of care and 70% lower rates of readmission, according to this HCCI study).

How Huma helps: During a six-month study with Royal Brompton and Harefield Hospitals in the UK, of the 525 patients using the solution, 51 (9.71%) were identified as at risk of deteriorating by nurses based on data captured via the RPM platform and subsequently escalated to their respective consultant.  The study illustrated our platform’s ability to support clinical teams in monitoring patients and prioritizing urgent cases without overwhelming the healthcare system, while also reassuring patients that they are being monitored safely.

3. Expanding clinical capacity and improving outcomes

RPM has already proven its ability to ease the workload of doctors, nurses and other caregivers by reducing the need for readmissions and enabling clinicians to prioritize patient cohorts, allowing them to focus on the highest acuity patients. Known formally as exception-based management – or the process of providing focus where it's needed most at any given time – RPM platforms give providers instant access to near real-time patient data, enabling them to be more productive and intervene quickly before a patient’s condition escalates, thereby improving outcomes and reducing the overall cost of care.

How Huma helps: A recent NHS study showed that Huma nearly doubled clinical capacity and reduced readmissions in tech-enabled COVID-19 virtual wards.1 The mortality rate of patients in the Huma cohort was 3-4 times lower compared with non-Huma patients.2 Huma patients also had shorter hospital stays in comparison to the national figure during the first wave of the COVID-19 pandemic (6 vs 10 days).2

4. Extending opportunities for reimbursement with pre- and post-surgical monitoring

In addition to the remote monitoring of patients with chronic conditions, some RPM platforms are extending patient engagement into pre- and post-operative recovery and monitoring periods, which opens up new opportunities for reimbursement for healthcare providers. In some early adopter markets such as Germany, digital therapeutics are now eligible for statutory reimbursement (under the DiGA Fast Track regulation), which is a growing trend as payors awaken to the benefits of RPM. Telemedicine has been effectively regulated in France since 2018, and the nation has announced that new legislation will essentially follow Germany’s lead and allow for reimbursement of software-based remote monitoring of chronic diseases, as well as introduce an early reimbursement mechanism for innovative digital MDs used for remote monitoring.

How Huma helps: Huma’s platform facilitates pre- and post-surgical monitoring with proactive identification of patient deterioration and adverse events with almost 90% specificity. With Huma, providers spend 40% less time reviewing patients4 — or 210 minutes saved per patient over the course of 14 days — and readmission rates drop by as much as 10%.4 The frequency, volume and quality of data collection, as well as the user-friendly visualization of key insights also makes it easier for physicians to monitor and evaluate patients throughout the care continuum, which expands reimbursement opportunities for healthcare providers.

5. Optimizing patient adherence to care management plans

Low medication adherence is a reliable indicator of 30-day readmission rates. In this study, patients with low and intermediate adherence had readmission rates of 20.0% compared to a readmission rate of 9.3% for patients with high adherence, which negatively impacts a hospital’s bottom line.

How Huma helps: Huma partnered with the Welsh Government on a 12-week pilot to test and deploy Huma’s ‘hospital at home’ platform to manage heart failure patients remotely. Cardiac nurse practitioners in the NHS and Cwm Taf University Health Board (CTMUHB) and Betski Cadwalady University Health Board (BCUHB) used the app to identify patients requiring further medical attention and allowed early discharge for patients in a stable condition who could be safely monitored at home. CTMUHB’s clinical teams were able to track their patients’ progress and quickly determine who needed extra tests and interventions. They were also able to reduce the time needed to optimize patients’ medications by 75%. Additionally, the built-in telemedicine module allowed them to consult with their patients remotely, leading to a 19% reduction in the number of face-to-face outpatient appointments. One hundred percent of the patients responded that the software was helpful in improving communication with clinicians as well as managing their cardiac conditions.5 Across care and research deployments, Huma typically achieves 90-95% adherence and retention rates.6

6. Increasing patient and clinician engagement to drive customer loyalty

The ability to demonstrate increased patient as well as clinician engagement is key to building credibility with customers. Continuous reporting of real-world data and the ability to extract RWE at scale boosts confidence among providers and enhances their ability to meet federal reporting requirements.

How Huma helps: Huma’s award-winning patient-centric design boosts clinician and patient engagement, and helps MedTech build stronger, longer-term relationships with care providers and customers. When deployed for patients with orthopedic implants in partnership with Smith+Nephew (S+N), 93% of patients reported ‘good’ or ‘very good’ care.1

A companion app case study

Starting in 2018, Huma partnered with Smith+Nephew to develop a SaMD companion solution for orthopedics implants.

The Huma app provided patients with pre-surgery guidance and access to virtual rehabilitation resources and video calls with their surgical team. Meanwhile, it enabled clinicians to monitor patients before surgery and throughout recovery.

There are 15 markets in development, covering more than 12 clinical pathways. We have targeted a reduction in patients’ Length of Stay, and have seen improved outcomes for patients in orthopedics, sports medicine and wound care.

One S+N patient said the app “was like my own private doctor at home” following her surgery.

Speed your way to market success

Huma has been delivering impact by deploying digital-first care and research solutions globally since 2011.

More than 1.8 million active users7 at more than 3,000 hospitals7 use our platform to make sustainable impacts in the lives of more than 27 million patients7 – and to make a significant impact in their organizations’ bottom lines.

Our fully-compliant SaMD platform accelerates time to market for regulated digital health products, including companion apps, patient support and engagement programs. Our platform capabilities are augmented by connected devices which capture a range of biomarkers, ensuring objective data collection, with higher accuracy and minimal human error. Our platform is ready to deploy immediately in more than 60 countries across the US, Europe, China, Middle East, Southeast Asia and elsewhere.7

Huma enables MedTech companies to optimize treatments through real-world insights and remote monitoring — and to drive real revenue to the bottom line. 

Are you looking for a digital health partner that can accelerate your speed to market while also enhancing your ability to engage with patients and clinicians quickly and efficiently and demonstrate RWE at scale? Click here to talk to us.

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About Huma

Huma began its journey in 2011, when the company was founded in London. Since then, Huma has grown to become a global healthcare company, spanning across multiple geographies and operating across four continents.

Learn more