In Atlanta, Georgia, Patientory, Inc. , a healthcare data startup, is working with students from the Environmental, Social, and Governance (ESG) Initiative’s Wharton Impact Venture Associates (WIVA) to raise money together.
The WIVA team only puts money into WeFunder. Patientory has already raised $50,000 on this platform. WeFunder is a website where people who don’t have a lot of money can help new businesses by giving as little as $100.
People who invest in the company using a Simple Agreement for Future Equity (SAFE) can get a stake in the company later if it decides to sell shares in the future.
WIVA students helped connect Patientory with WeFunder. They looked into the healthcare industry and found important problems related to disconnected data. The National Association of Chronic Disease Directors says that about 40% of adults in the U. S have long-term health problems and need to regularly use different parts of the healthcare system. The healthcare system. – The system of providing medical care and treatment for people who are sick or injured.
This means that their healthcare information is spread out over many different systems. Because hospitals and doctors store patient information separately, it is difficult to share it quickly and easily. As a result, about 80% of healthcare information still needs to be shared, making it hard to give good care to patients.
Patientory is using blockchain technology to develop artificial intelligence.
Patientory has made a new healthcare platform that uses AI and blockchain to help people access their health data and control it. This is to solve problems in the healthcare industry about getting and using health information.
This plan wants to change how healthcare data is handled and shared using two new ideas. The Patientory Consumer Wallet helps patients keep their health data safe, share it, and make money from it.
At the same time, the Neith Enterprise Dashboard helps healthcare workers to easily see and understand information from shared and anonymous patient health data on the Patientory blockchain network.
Patientory helps patients keep track of their health information in a safe and easy way. It uses AI to give personalized advice to help people improve their health. Also, the platform helps people find clinical trials and affordable medications that are right for them.
WIVA allows students to learn about investing.
Talia Cohen, a student at WIVA who will graduate in 2024, praised Patientory for helping to improve healthcare and make a positive impact on patients. Cohen’s team really liked how Patientory is able to manage its money well, in addition to its other goals. Patientory has more than 45,000 people using its platform and has signed contracts worth over $4 million for pharmaceutical clinical trials.
She said that:
“Growing up with two parents who were healthcare professionals, I learned how important healthcare data is and how it can affect patients’ lives. I was amazed by Patientory’s dedication to giving patients the power to control their medical information and to safely share data with others in the healthcare industry.”
WIVA helps students learn about impact investing by giving them practical experience. They teach students how to find new businesses that can make a big positive difference. As part of their education, WIVA students study the finances and impact of new businesses, talk to the people who started the businesses, and help them find investors.