In a groundbreaking partnership, Patientory Inc. has joined forces with the Wharton Impact Venture Associates (WIVA) students in a capital raise agreement. This strategic alliance aims to address the healthcare industry’s challenges regarding data accessibility by leveraging blockchain technology. Embarking on a mission to revolutionize healthcare, Patientory and WIVA are set to make a profound impact in the field.
WIVA, a program under the Environmental Social Governance (ESG) Initiative at Wharton University, is focused on educating students about impactful early-stage companies. Armed with knowledge in impact investing, finance, and analysis, WIVA students are on a quest to identify ventures with immense potential in the ESG sectors. Patientory Inc. emerged as such a company, catching the attention of WIVA with its innovative blockchain-based healthcare solutions.
One of the key issues plaguing the healthcare industry is the fragmented nature of patient data. UPMC Enterprises, a prominent data-focused company, reveals that over 80% of healthcare data remains unstructured and inaccessible. This fragmentation severely impedes the quality and efficiency of patient care. Typically, hospitals and clinicians store data in isolated systems, hindering the seamless sharing of crucial information.
Founded in 2015, Patientory Inc. aims to tackle this challenge head-on with its blockchain-based AI and data platform. The company provides users with a secure Consumer Wallet, enabling patients to store, share, and even monetize their health data in a secure manner. By leveraging the power of blockchain technology, Patientory ensures the integrity and privacy of patients’ information while facilitating data accessibility.
Patientory goes beyond patient empowerment by offering the Neith Enterprise Dashboard. This analytics portal allows healthcare stakeholders to extract valuable insights from shared and de-identified consumer health data stored on the Patientory blockchain network. These insights hold tremendous potential for improving healthcare outcomes, enabling stakeholders to make informed decisions based on comprehensive data analysis.
Through its partnership with Patientory, WIVA aims to support the company’s capital raise efforts and further develop its platform. WIVA students meticulously researched the healthcare industry’s challenges, offering in-depth financial and impact analysis to support their investment decision. This research involved one-on-one interactions with Patientory’s founders and connecting with potential investors, paving the way for impactful change.
Patientory took advantage of the WeFunder platform to raise capital and engage with the investment community. WeFunder provides opportunities for non-accredited investors with limited capital, allowing them to invest in early-stage companies. Patientory successfully raised over $50,000 on this crowdfunding platform, with WIVA exclusively making its investments through WeFunder. Investors on the platform are offered a Simple Agreement for Future Equity (SAFE), granting them the right to obtain equity in the company at a future date.
Patientory Inc. is driven by a vision to improve healthcare globally by leveraging the power of data. Recognizing that healthcare data is the foundation for transformative advancements, the company is committed to enhancing accessibility, efficiency, and patient outcomes. With over 45,000 subscribers and a revenue exceeding $4 million, Patientory Inc. has already made significant strides in the healthcare industry, with a promising future ahead.
Patientory Inc. and WIVA’s partnership represents a significant milestone in the healthcare industry’s journey towards innovation and improved data accessibility. By harnessing blockchain technology, Patientory is empowering patients while enabling stakeholders to leverage comprehensive data analysis for better decision-making. As healthcare continues to evolve, Patientory will play a pivotal role in revolutionizing the industry, ultimately leading to improved patient care and outcomes.
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