Behavioral Health Business August 29, 2024
Behavioral health providers know that contactless patient monitoring saves lives.
Now they have data showing that it saves money, too.
New research from the UK-based York Health Economics Consortium (YHEC) reveals that a medium-sized (300-bed) behavioral health care provider using Oxevision contactless patient monitoring for one year sees a total net savings of $3.2 million, a combination of $1.4 million in cash savings and $1.8 million in cash-equivalent time savings.
“These cash savings are significant, with the provider expected to break even within just three to five months,” says Daniel Bayley, Head of Insights and Outcomes at Oxehealth. “The time savings are crucial too, as the time saved can be reinvested in therapeutic, hands-on care.”
YHEC’s research — which is...
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