Satchel Health

Satchel Health, initially founded as Octovis in 2014 by Ryan Macy and Jay M. Politzer, established itself as a telehealth and remote monitoring solutions provider for the post-acute care sector. The Nashville-based company aimed to address the critical issue of hospital readmissions, which affect a significant percentage of post-acute patients. The inspiration for the company reportedly stemmed from co-founder Ryan Macy's experience as a military police corps officer during the 2010 Haiti earthquake, where the lack of medical infrastructure highlighted the need for accessible care.

The company's core offering was a telemedicine platform that connected patients in skilled nursing facilities with clinicians remotely. This was facilitated through a software platform and a camera-equipped audio/visual cart, allowing for video consultations between nurses, patients, and off-site clinicians. The system was designed to be versatile, permitting facilities to use the platform at any time and connect with clinicians both within and outside of Satchel Health's network. Beyond virtual consultations, the platform could integrate data from connected diagnostic devices such as stethoscopes, pulse oximeters, and EKGs, which were operated by on-site nurses. An automated questionnaire helped triage patients to the appropriate clinician, and after consultations, the software would file billing information and update the patient's treatment history. This data could then be used by machine learning protocols to assist in future diagnoses.

Satchel Health's business model focused on providing its telehealth services to post-acute care providers, including nursing homes and skilled nursing facilities. The value proposition for these clients was the potential to reduce costs associated with hospital readmissions, such as transportation and hospital stay expenses, and to avoid potential penalties from insurance networks or Medicare for high readmission rates. The company raised a total of $2.5 million over three funding rounds, with investors including NueCura Partners, TriStar Health Partners, and Jumpstart Foundry. A significant seed round of $1.5 million occurred on September 25, 2017. However, according to PitchBook, the company is now listed as out of business.

Keywords: telehealth, remote patient monitoring, post-acute care, skilled nursing facilities, hospital readmission reduction, telemedicine platform, healthcare technology, clinical consultation, virtual care, connected medical devices, healthcare data analytics, Nashville startup, Octovis, NueCura Partners, Ryan Macy, Jay M. Politzer, nursing home technology, patient triage, care coordination, out of business