Patientory, Inc., a pioneering healthcare data startup, has announced a partnership with Wharton Impact Venture Associates (WIVA), the Environmental, Social and Governance (ESG) Initiative’s student-led impact investing group. The collaboration aims to facilitate a capital raise for Patientory through WeFunder, the crowdfunding platform where the healthcare startup has already set an ambitious fundraising target of $50,000.
WIVA, exclusively investing on WeFunder, played a crucial role in connecting Patientory with the crowdfunding platform. The WIVA team, composed of students with a focus on impact investing, delved deep into the healthcare industry, uncovering significant challenges related to fragmented data. WIVA operates as a best-in-class impact investing educational program, offering hands-on training for students in sourcing, financial and impact analysis, and connecting entrepreneurs with potential investors.
According to data from the National Association of Chronic Disease Directors, around 40% of American adults suffer from chronic illnesses, leading to their health data being scattered across various healthcare systems. This fragmentation, caused by siloed medical systems, hinders efficient data sharing among healthcare practitioners, with an estimated 80% of healthcare data inaccessible for quality patient care. In response to these challenges, Patientory has developed an innovative healthcare AI and data platform powered by blockchain.
Disrupting Healthcare Data Accessibility
Patientory aims to revolutionize data accessibility, particularly in terms of patients having control over their health information. The platform offers two groundbreaking solutions: the Patientory Consumer Wallet, enabling secure storage, sharing, and monetization of health data by patients, and the Neith Enterprise Dashboard, an analytics portal for healthcare stakeholders to mine shared and de-identified consumer health data from the Patientory blockchain network.
By providing a secure and user-friendly means for patients to store and share their health data, Patientory not only contributes to improved patient outcomes but also delivers AI-based recommendations for enhancing health. Additionally, the platform facilitates matching consumers with suitable clinical trials and cost-effective drugs.
WIVA, as an impact investing educational program, provides students with real-world experience in identifying impactful startups. WIVA students conduct detailed financial and impact analyses, interview founders, and connect startups with potential investors. Talia Cohen, a WIVA student, identified Patientory for its potential to make a positive impact on healthcare outcomes and was particularly impressed with the startup’s financial sustainability.
Talia Cohen, W’24, shared her perspective, saying, “As someone who grew up with two parents who were healthcare professionals, I understood the importance of healthcare data and how it can impact patients’ lives. I was impressed by Patientory’s commitment to giving patients control over their medical data and enabling secure data exchange among healthcare stakeholders.”
Patientory currently boasts over 45,000 subscribers and has generated over $4 million in pharma clinical trial contracts. Patientory’s founder, Chrissa McFarlane, expressed enthusiasm about seeking support from WeFunder’s investment community, emphasizing, “We’re excited to seek the backing of WeFunder’s investment community. Healthcare data is the foundation for improving healthcare around the world.”
Patientory, incorporated in 2015, provides a blockchain-based, HIPAA-compliant software platform through its NEITH enterprise-focused web portal and Patientory mobile app. The platform empowers patients, medical professionals, and healthcare organizations to securely access, store, and exchange health information in real-time. As Patientory continues to forge ahead with its mission to reshape healthcare data accessibility, the partnership with WIVA and the ongoing WeFunder campaign mark significant milestones in the startup’s journey toward positively impacting the healthcare landscape.
