One of the major issues in healthcare today is Patient Readmissions. Not exactly a four letter word but it seems to have the same negative connotation as some of those we might hear every day. Since 2012, one of the clear trends in health care that telemedicine purports to address is the idea of reducing readmissions and improving the quality of health care. However, after considerable attention to this market and developing a novel telemedicine platform solution, we still struggle to understand what this means. What has been clear to us is we still have a problem with reducing patient readmissions and the penalties are increasing. National average readmission rates are about 19-20% but some providers are still struggling with rates up around 30%, some even higher. We find it interesting that in 2015 about 83% of patient admissions were into facilities that had little or no significant penalties. In those with penalties the fines more than doubled in only one year, up $200 million from 2014 to a hugely significant amount of $428 million.
Interestingly, by the end of the first quarter of 2016, nearly 80% of providers considering telemedicine solutions in part to assist in reducing readmissions still have not made any decisions. Meanwhile, the number of patients entering the aging demographic with CHF and COPD is staggering. For a telemedicine solution that allows access to patient data from anywhere, will help reduce patient hospital readmissions, improve patient outcomes and allows clinicians to make earlier, more informed decisions, check out the Wi-Med® system From Athena GTX.