Masimo: Opportunities & Challenges in Telehealth

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The reason I asked to speak with you was, we’ve been Masimo shareholders for years now. We have seen a lot of positive; some negative, in terms of their acquisition of Sound United. At first glance, it was negative, but as we’ve learned a little more it’s become a bit more positive. In that light, we are curious to better understand what the opportunity is in virtual remote patient care. Not just that, but in terms of how hospital systems think about the investments necessary and how the whole operation would work and whether or not Masimo is going to be a leader in that space. I would be curious to learn a little bit more about your current role and how long you’ve worked with Masimo, as a supplier?

With that, we saw reductions in the length of stay for the respiratory populations; we were able to reduce it by about a day, because we could still provide oxygen support at home, with this continuous monitoring. It made our clinicians feel as if the efficacy and the quality of the technology was sufficient. With further partnerships with paramedics, we were able to deliver home interventions for some of those lower acuity exacerbations, rather than having patients come back to the emergency. That was one of the beauties with the Masimo technology.

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The reason I asked to speak with you was, we’ve been Masimo shareholders for years now. We have seen a lot of positive; some negative, in terms of their acquisition of Sound United. At first glance, it was negative, but as we’ve learned a little more it’s become a bit more positive. In that light, we are curious to better understand what the opportunity is in virtual remote patient care. Not just that, but in terms of how hospital systems think about the investments necessary and how the whole operation would work and whether or not Masimo is going to be a leader in that space. I would be curious to learn a little bit more about your current role and how long you’ve worked with Masimo, as a supplier?

We also reduced our readmission rate by 30% to 40%, during that time, with that technology. We had satisfaction rates in the 90% from our patient surveys. Our NPS score, for our end users, was above 70. Overall, I would say, it was a really good experience with them.

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Thinking about how Renown was using remote patient monitoring, it sounds as if it was a very positive experience. One of the impressions that we got was that Masimo was very quick to respond to the Covid health crisis, in hospitals. I think they got the Patient SafetyNet, the Radius PPG, emergency approved for home use, during the crisis, in a couple of weeks. I’m just curious to hear if that was employed at Renown, during that period and what your interactions were, with Masimo, with the triaging that had to happen during Covid and how Masimo partnered with, or helped you, during that time?

But also researched the interoperability of the data to get into our systems. That is something that they built, downstream, but it was not available when we first launched. That was one of the challenges with the system.

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