This is the way! I run a remote only company, and when the game is on, one meeting per week, 30-60 minutes (at most!) is essential!

However... there has to be an agenda, the agenda needs to be followed, and meeting monopolizers need to be cut short. (americans are very good at expanding meeting participation and to take up all the time, care needs to be taken with them. This is cultural, they love to talk.)

That's about all that is necessary. Then individual syncs can be done per email the rest of the week, or phone in case of emergencies.