Patient Monitor Buyers Guide: 2022
Introduction:
In 2022, the patient monitor device industry witnessed tremendous growth. As a consequence of the COVID-19 pandemic, many facilities have had to rapidly search for new streamlined monitors. Additionally, this is to help handle the ever-increasing and the overwhelming number of hospitalized patients. With an influx of patients and social distancing protocols, hospitals and other facilities have begun to rely on remote patient monitors. Today, nearly 4 million patients use RPM, which has catapulted the RPM and patient monitor industry.
The COVID-19 pandemic has forever changed how we use patient monitor devices. With the decisive and rapid reliance on new RPM and streamlined patient monitor technologies, it is exceedingly difficult for facilities to gauge their needs and expectations when purchasing new devices.
So you’re probably asking yourself, how much does a patient monitor cost? Our 2022 Patient Monitor Buyer’s Guide is designed to help you and your facility navigate the new world of patient monitors and remote patient monitors.
Primary Usage:
If you are in the healthcare industry then you already know patient monitors are primarily used to measure, record, assign and display a combination of values such as heart rate, SPO2, Blood Pressure, and temperature. But due to their versatility, the parameters and configurations of PM (patient monitors) and RPM (remote patient monitors) are seemingly endless and sometimes exceeding frustrating to navigate.
Standard Parameters:
The standard parameters of patient monitors commonly consist of ECG, NIBP, SPO2, and TEMP. Depending on your facility’s needs, additional parameters such as anesthetic gas monitor, end-tidal CO2, Bispectral Index, Impedance, Cardiography, or invasive blood pressure can be added at a higher cost. Before you decide how versatile of a patient monitor you want to purchase, it is important to consider a couple of factors.
What Should You Consider Before Purchasing?
The standard parameters of patient monitors commonly consist of ECG, NIBP, SPO2, and TEMP. Depending on your facility’s needs, additional parameters such as anesthetic gas monitor, end-tidal CO2, Bispectral Index, Impedance, Cardiography, or invasive blood pressure can be added at a higher cost. Before you decide how versatile of a patient monitor you want to purchase, it is important to consider a couple of factors.
Before purchasing a patient monitor, it is important to consider the needs of your facility. In fact, the size of the facility will have an impact on the size and number of monitors that will need to be purchased. For a larger facility with an emergency room, consider the idea of purchasing a mobile monitor, as they are able to monitor from practically anywhere and could be necessary for your type of facility. This is just one example of why it’s important to choose a monitor specific to your facility’s needs.
Maintaining a fixed budget will help streamline your search by allowing you to narrow the scope of available monitors. Are you working on a tight budget? Well here’s the good news: there are patient monitors available for practically any budget. In fact, refurbished models can easily meet basic monitoring needs at a fraction of the cost compared to new monitors. While older refurbished models can easily do the trick for most facilities, it’s important to remember that it’s the new monitors that will have up-to-date and innovative technology. These types of advanced monitors will cost considerably more than a refurbished monitor.
Patient Monitor Prices:
Now that you understand your budget and facility needs, you’re ready to start the search for your patient monitor. There are four main factors that will contribute to the patient monitor cost:
- Brand
- Configuration
- Features
- Additional Parameters
Knowing what brand you are purchasing from is very important when buying on a budget. That is because more well-known brands such as Welch Allyn, and GE Healthcare will be more expensive than a lesser-known brand. The brand not only affects the price of the device, but also the availability of the product. Another thing to keep in mind is machine warranty and staff training, which varies in price and availability depending on the brand.
It’s important to consider which configuration best fits your facility. More often than not, basic monitoring functions will be more affordable and fit nearly all facility needs.
Additional features can have a heavy impact on the price. More specifically, the touchscreen, WIFI connection, and CMS software will increase the price substantially. The price of WIFI can cost anywhere from $100-$300, the touchscreen interface will range from $100-$300 and CMS software can add nearly $6,000 to the final price. Most of the time, additional features will help the overall workflow of your medical practice. However, most of these features are rarely needed.
As previously stated, a standard parameter patient monitor will include ECG, NIBP, SPO2, and TEMP. The price for a standard parameter patient monitor commonly costs between $1,995-$2,495. Meanwhile, the price of a standard parameter monitor with CO2 will range from $3,995-$4,995. Finally, a higher-acuity parameter patient monitor that includes ECG, NIBP, SPO2, TEMP, and AGA, will catapult the total cost to anywhere between $5,000 and $10,000.
What Should You Remember?
In sum, when looking to purchase a new monitor, it’s beyond important to do your research so you aren’t breaking the bank when you don’t have to. By understanding your facility’s desired parameters and budget you will be able to narrow down your search and find the perfect monitor for your facility at the best possible price.
Works Cited:
“Choosing the Best Patient Monitor for Your Medical Practice.” Anesthesia Plus, 3 Nov. 2017, www.anesplus.com/choosing-best-patient-monitor-medical-practice/.
“COVID-19 Accelerates Patient Monitoring Device Market Growth.” Medical Buyer, 5 Oct. 2020, www.medicalbuyer.co.in/covid-19-accelerates-patient-monitoring-device-market-growth/.
Direct, Raine Industries: Cardiac. “Patient Monitors: Price and Facilities” Medical Equipment, https://www.cardiacdirect.com/patient-monitors-price-and-facilities/
