Last week, we wrote about our new RPM billing tool and some people asked: “How much revenue can I really make with RPM?”
To help you see the revenue potential, we’ve put together a calculator below.
RPM is a huge opportunity that will not only improve patient satisfaction but also your practice’s incremental revenue.
Assumptions and considerations
- This calculator doesn’t include your organization’s unique RVU rate which could affect the revenue generated.
- We assume that a patient can afford their portion of the Medicare co-pay or has supplemental coverage under Medigap (e.g. Plan F)
- According to AARP, 15% of the US population is covered by Medicare (source, downloads as a PDF). Enter your unique Medicare population into the calculator.
- 2/3 of Medicare beneficiaries have 2 or more chronic conditions (source). We think this question is relevant because it takes into consideration those patients who have the most to gain from RPM.
- According to Pew Internet Research, 42% of older adults use a smartphone (source). That’s not to say that the rest won’t benefit from RPM, but it might be better to get some early wins with RPM from those that have a higher level of tech fluency.
We hope you find this RPM revenue calculator useful. Let us know if you have any questions in the comments below.