This mimics standard medical devices. The Vitals360 can be used by any clinician without patient registration, as a convenient multi-diagnostic device for immediately spot-checking vital healthcare information.
2. Point of Care Mode
This mode can be used by clinicians caring for multiple patients. In this mode, the Vitals360 replaces a number of separate medical devices, making it ideal for care both inside and outside of an office or facility.
Unlike other medical devices that require manual entry of data, the Vitals360 can be linked directly to the HIPAA-compliant VoCare Cloud via 4G LTE cellular and Wi-Fi connectivity to allow patient data to be automatically uploaded after every use.
Additionally, the Vitals360’s GPS location and time-stamping provide a superior audit trail for Medicare reimbursement.
3. Remote Patient Monitoring
The Vitals360 is simple enough for any patient to use on his or her own, and provides a comprehensive view of the patient’s overall health from their own home. Patients no longer have to keep track of multiple devices, nor do they have to do cumbersome manual logging of their vital signs.
In Remote Mode, patients can use the Vitals360’s video feature to conduct convenient telehealth visits right on the device.
device offers a clear choice
Our customers are remote patient monitoring (RPM) companies and Telehealth (Tele) companies. RPM companies have two very different approaches to remote patient monitoring. One strategy seeks to manage the health of populations to drive down the total cost of care and benefit from the savings. The other strategy is to generate earnings from the fees Medicare pays for remote patient monitoring and chronic care management. These strategies are not mutually exclusive but most companies in the RPM/Tele space tend to focus more on one than the other.
VoCare is a tool supplier for organizations committed to managing the health of populations. Our products are not the lowest priced, but they are the highest value and have the lowest total cost of ownership. The VoCare approach serves the needs of RPM/Tele companies whether they seek to drive down total cost of care or generate Medicare fees from RPM/Tele. There are some special factors that only apply to organizations seeking to reduce total cost of care, but VoCare’s focus on these organizations benefits RPM/Tele companies with either strategy.
Our strategy is to innovate and improve our value to the population our customers serve and continue to drive down total cost of ownership through the VoCare solution. We make integration, deployment and maintenance something our customers do not have to worry about.
By providing a turnkey device solution we make it easy for telehealth companies to offer RPM services and for existing companies in the RPM/Tele space to streamline their processes and improve their efficiency. When a company is able to provide RPM more efficiently they are able to monitor a larger pool of patients, digging deeper into the risk pool as you will see.
RPM/Tele companies must make decisions about what patients they will monitor. To make this simple we will only look at potentially avoidable hospitalizations. The return on preventing a hospitalization is large, measureable and immediate.
Organizations deploying RPM/Tele are essentially placing a bet that for a given population of patients the savings in reduced cost will exceed the cost of RPM. In order to make this bet these organizations must know four things. One, what is the likelihood of the patient suffering a preventable hospitalization. Two, what is the effectiveness of measures to prevent this hospitalization. Three, what is the cost of the intervention. Four what is the cost of detecting a preventable hospitalization.
Most patients in the population will not suffer a hospitalization with or without monitoring. To detect those at risk for hospitalization you must monitor the portion of the population where RPM will produce a return on the RPM investment.
The less the total cost of RPM the larger the portion of the population you can monitor as you seek to reduce costs. At some point the cost of monitoring will exceed the savings. There are many ways to select a subset of the population for monitoring. Some produce a return while others do not.
The top 10% of most expensive patients spend more than half of the total dollars. Many organizations have tried focusing on these top spenders, but have been disappointed by the results. The reason is that this subset of the population changes. Only one quarter (2.5%) remain in the most expensive category. The other three quarters change from year to year. The one quarter that remains has conditions that cannot be improved and will continue to be expensive. This is a poor strategy.
There are better alternative ways to select a population to monitor. These involve identifying subsets of the population that are likely to become high cost. As an example let’s look at the following graph showing potentially preventable hospitalization per 1,000 patients by setting of care. Monitoring the patients in home health would be a good strategy.
Distribution of Medicare Fee-For-Service Beneficiaries
and Madicare Spending by numbre of
There are no RPM/Tele companies that I know of who monitor 17% of their patients, even though they should. The potential cost advantages that VoCare provides will allow these companies to generate a return on monitoring on a larger population increasing revenue for the RPM/Tele while reducing total cost of care.
How does VoCare enable lower cost RPM/Tele? To answer this question you must understand the ultimate consumer of RPM/Tele services. These are people who are in poor health and for the most part old, poor, poorly educated and technology illiterate. They are not iPhone users. They don’t have a smart phone and many do not have cell phones. Imagine installing a typical RPM/Tele solution in the home of one of these patients. You register a tablet to the patient, pair the oximeter, the blood pressure cuff and any other peripherals you want. You then ship this to the patient with instructions on how to initiate a RPM/Tele session. This initial session may or may not be successful. If it is not you direct the patient to a call center for help. If that does not work then you send someone to the home to help with the set up. Once you get everything working you have the issues of support including failure of one of the devices or a problem with Bluetooth pairing. The various manufacturers of these various peripherals may upgrade their devices requiring the RPM company to support
In order to support these devices you have to build an entire support organization, at significant cost. Companies that use this solution will not be able to compete against companies using the VoCare solution with their much lower cost support structure.
VoCare enjoys another significant cost advantage. One of the VoCare executives comes to VoCare from the Telecommunication industry. With his experience, connections in the industry, and experience with pricing and purchase options he has negotiated a very favorable and likely to improve with volume, contract for telecommunication services.
The VoCare device is at it’s core a smart phone running the Android operating system. For communication we rely solely on the LTE data channel. We upload our RPM readings over LTE. We use LTE for messaging and for two way video calls. Our devices do not have a phone number and we do not enable traditional telephone functions. This approach makes VoCare very competitive compared to the traditional cell phone/tablet solution. We enjoy at a minimum a $20 per month cost advantage. Imagine how many more patients you can profitably monitor with this $240 per year cost advantage.
Our devices will receive over the air software updates. We have complete control of these updates as does Verizon and other carriers. We do not have to worry about someone else’s update breaking our functionality.
Multiple models of the devices. When you add up all the personnel costs they quickly dwarf the cost of the device.
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