Atlanta-based healthcare blockchain startup Patientory is making waves in the healthcare industry through its innovative use of blockchain technology. The company, in collaboration with the Wharton Impact Venture Associates (WIVA), has embarked on a capital fundraising initiative to further its mission.
WIVA and Patientory: A Collaborative Effort
Patientory has teamed up with WIVA, a student-led initiative focused on Environmental, Social, and Governance (ESG) investments. The collaboration is aimed at raising capital through WeFunder, a crowdfunding platform that allows non-accredited investors to support early-stage startups. Patientory has already achieved a fundraising milestone of $50,000 on the platform.
Investors who contribute to Patientory’s cause are entitled to a Simple Agreement for Future Equity (SAFE), which gives them the right to acquire equity in the future if the company decides to issue shares. WIVA students played a crucial role in this partnership, identifying the healthcare industry’s significant challenges, particularly fragmented data.
The Problem of Fragmented Healthcare Data
Approximately 40% of American adults suffer from chronic illnesses, necessitating regular interaction with various facets of the U.S. healthcare system. This interaction leads to the scattering of their healthcare data across multiple systems. The inefficient sharing of this information, due to siloed patient data storage by hospitals and clinicians, is a significant hurdle in the delivery of quality patient care. It is estimated that 80% of healthcare data still needs to be made available.
Patientory’s Blockchain Solution
To address the fragmented data problem, Patientory has developed a healthcare AI and data platform underpinned by blockchain technology. The platform focuses on enabling patients to control their health information. The Patientory Consumer Wallet offers a secure way for patients to store, share, and even monetize their health data. At the same time, the Neith Enterprise Dashboard serves as an analytics portal, helping healthcare stakeholders extract insights from shared and de-identified consumer health data on the Patientory blockchain network.
By offering a secure and user-friendly platform for managing health data, Patientory uses AI to deliver personalized recommendations, helping individuals improve their well-being. The platform also facilitates matching consumers with suitable clinical trials and cost-effective medications.
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Start now using our tools for free.WIVA student Talia Cohen recognized Patientory for its potential to enhance healthcare outcomes and positively impact patients’ lives. Patientory’s financial sustainability, evidenced by its subscriber base of over 45,000 and more than $4 million in pharmaceutical clinical trial contracts, impressed Cohen’s team.
Through WIVA, students gain hands-on experience in impact investing. They identify startups with significant impact potential, engage in thorough financial and impact analyses, interview founders, and facilitate connections with potential investors. This educational journey is instrumental in shaping the future leaders of the impact investing world.
