During our recent stay, while the monitors did indeed beep, it was possible to put them on silent mode, which the nursing staff was happy to do because the rooms all had nice big LED screens outside the door with vitals alerts and the nursing station had a much larger multi-monitor display showing each patient's status. It turned our problem into their problem, but we never had an issue with noise. A large part of this is also because we had a private room, and the rooms all had vestibules for further sound isolution (and containing the scrub-in sink & laundry bin).
That said, besides the specific reason our daughter was in-patient to address, she was otherwise vigorous and healthy, and that absolutely was not the case for the majority of the other kids no the ward, most of whom had congenital heart defects and other developmental conditions, and I can completely understand why it becomes more important to interrupt less stable patients.