LOS GATOS, Calif., July 23, 2020 – CAREMINDr Corporation delivers mobile-enabled remote patient monitoring (RPM) solutions that give doctors the ability to check in on patients in between face-to-face visits. Today the company announced that, due to the staggering economic crisis facing primary care doctors, it will award start-up grants of $5,000 to $10,000 to selected independent medical practices. This Jump $tart program enables solo/small practice doctors to launch RPM and generate new ongoing revenue.
CAREMINDr is awarding $100,000 total in the pilot round of Jump $tart, with follow-on rounds planned throughout the coming months. Recipients will receive training and immediate implementation of CAREMINDr’s turn-key RPM platform for managing chronic and other at-risk conditions. Jump $tart will also include CAREMINDr’s RPM Connect program that provides technical and administrative support to the medical practices, so doctors and staff can focus on providing care and guidance to their patients.
Jump $tart is CAREMINDr’s way of assisting a critical healthcare community that has suffered significant financial losses due to decreased patient activity during the COVID-19 pandemic. A recent study estimates that primary care practices during 2020 will lose $67,774 in gross revenue per physician, or more than $15 billion nationwide.
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“Small independent practices are being overlooked in the nation’s COVID-19 economic response plan, which means they could go out of business, creating healthcare deserts across the United States,” said Harry Soza, CEO of CAREMINDr. “Jump $tart will show that, with a small initial investment, it is possible to give independent physicians the boost they need to gain leading-edge care management technology and generate significant ongoing revenue from the CPT codes for chronic care management and remote physiologic monitoring. In less than a week, we can get practices started with a financial lifeline that will sustain them in this new era of technology-driven care. And equally important, our data shows that RPM improves care, adherence, and satisfaction for at-risk patients”
The Jump $tart recipients will be selected based on a short phone interview. Interested practices can sign up for consideration at CAREMINDr.com/RPM. After filling in contact information, there’s a final box where physicians can indicate interest in Jump $tart.
CAREMINDr will review each application and select Jump $tart practices based on a 20-minute phone interview with one of the company’s Regional VPs, who will continually interact with participating practices to ensure that their RPM program succeeds. The topics to be discussed, and the basic criteria for selection, will be emailed to each interested practice prior to the interview. Initial awards will be identified and granted by early August.