Seed fund Rock Health has invested in three new companies: telepsychiatry service 1DocWay, provider analytics company Arsenal Health, and wearable technology maker Caeden.
While the investment amounts were not disclosed, Managing Director Halle Tecco told MobiHealthNews the fund allows them to invest up to $250,000 in a startup.
Rock Health first launched as an accelerator, but in the last year, they pivoted and are now a seed fund. Still, the types of digital health startups that they focus on has remained similar.
"We continue to have a pretty broad view of digital health and we are excited about investing across the digital health spectrum from enterprise to consumer -- that's really remained the same," Tecco said. "...When we started Rock Health, most of the stuff we were doing was really early idea stage, and now many of the companies -- actually the three companies that we just announced on the east coast -- they all had revenue. They all figured out their business model and we're coming in at a stage to really help commercialize and help get them to the next level."
One of Rock Health's new investments, 1DocWay, has developed a web-based telepsychiatry videoconferencing tool that can be used on smartphones, tablets, and desktops. The service also offers physicians a scheduling feature and a medical record to store health data.
"It's telemedicine, but it's not telemedicine like other consumer companies like Doctor on Demand, which is already in our portfolio," Tecco said. "It's actually working within the hospital system so that hospitals without certain departments can connect their patients to physicians -- right now they're working in psychiatry -- at other hospitals. So what we really liked about that was that they're directly helping improve access to physicians who would otherwise be out of reach for patients in remote areas."
The second company, called Arsenal Health, has developed a smart scheduling tool that uses data to predict no-shows and cancellations. Arsenal Health was one of the first companies to launch on athenahealth's marketplace, which Tecco said gave them access to a lot of customers. One such customer is Steward Health. Steward said they were able to see 1o0 more patients every week after implementing Arsenal Health's offering.
The last company, Caeden, is developing a biosensing wearable that is fashion-first. Tecco explained that normally, wearable tech companies "come up with the technology and then they wrap the band and jewelry around it, so it's not necessarily the most fashion-forward thing". Instead, Caeden is first building a fashion brand, and then "embedding the latest technology" into the jewelry.