Today, we are excited to announce the closing of our Pre-Seed funding round to accelerate our vision of making the world accessible, always.
The $1.7M Pre-Seed round is led by Primetime Partners and Rock Health Capital.
Participating in the round is Tundra Ventures, Flare Capital Partners, Sequential Ventures, Groundbreak Ventures, and several healthcare operating angel investors.
Reimaging physical space as care
Rosarium Health (fka Rose Health) improves health outcomes and quality performance by improving household accessibility. We connect healthcare professionals and home remodeling companies to households in need of accessible home modifications at any point in their healthcare journey. We say households because Rosarium Health serves individuals across the age-span whether children on Managed Medicaid plans, seniors on D-SNP products, or any other demographic who wants to age with dignity.
The built environment is an overlooked burden to high quality, affordable, and efficacious healthcare. Whether a household needs to be assessed or an accessible home modification implemented, Rosarium Health is grateful for the opportunity to be available at scale.
Addressing tomorrow’s housing crises, today
Academic research shows that by 2035, one in three households will be headed by a person 65 years of age or older. As a person ages the prevalence of mobility, self-care, and household disabilities increases along with more frequent costly, adverse health events. Today, only 3% of owner-occupied housing is categorized as accessible. This means that tens of millions of households today are living in inaccessible homes that are not built to allow individuals to age in place.
Improving household accessibility is the fulcrum to enable in-home care opportunities, mitigate healthcare disparities, and reduce total medical costs. Ignoring inaccessible housing further exacerbates costly healthcare events such as avoidable ER visits, higher readmission rates, and length of stays in skilled nursing facilities.
The results speak for themselves. An investment of about $1,500 per year into accessible home modifications has results in 4-5x medical expenditure savings due to reduced health encounters like in-home falls, avoidable inpatient stays, and improvements in self-reported mental health. In combining occupational therapy, home remodeling, and value-based care, Rosarium Health will establish a healthcare experience that supports better, more dignified health outcomes.
Path forward in 2023
This funding round is another milestone in the growth of the business. Earlier this year, Rosarium Health was selected as a winner of the inaugural National Institute on Aging Start-Up Challenge and Accelerator: Fostering Entrepreneurial Diversity.
With this round we plan to further develop our marketplace product to now serve hospital systems and provider organizations, in addition to individual households. We will finish the development of our enterprise product and begin to partner with accountable care organizations, community-based organizations, and payors. Our objective with these partnerships is to reduce readmission rates, improve quality performance (e.g., HEDIS, QIP, MIPS), and enable beneficiaries to live as independently as possible.
We cannot express our excitement to further deliver value to households, organizations, and communities more broadly. If you, your organization, or your loved ones are interested in learning more please feel free to reach out, we’d be happy to help.