PatientWisdom, a startup based in New Haven, Connecticut, has raised another $1 million in its Series A round of funding. OCA Ventures, a venture capital firm out of Chicago, is the latest investor in the company.
The money will go toward meeting market demand for PatientWisdom’s offerings, advancing its platforms, increasing analytic capabilities and building sales capacity.
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The startup has three offerings: PatientWisdom, ProviderWisdom and CommunityWisdom.
PatientWisdom is a digital platform that zeroes in on what truly matters to patients. Caregivers, families and patients can use it to share information about themselves, their health and their goals. This information is then shared with their care team, which is able to gain valuable insights about each patient.
ProviderWisdom takes a similar approach but focuses on the provider side of the equation instead. It gathers data on clinicians’ work lives, as well as their innovative ideas and recommendations for workflow enhancement. The ultimate goal is reducing burnout and enhancing engagement.
The third platform, CommunityWisdom, seeks to dive deeper into the needs of the community. It allows organizations to learn more about populations and therefore more accurately be able to care for them.
A Personalized Approach to Medication Nonadherence
At the Abarca Forward conference earlier this year, George Van Antwerp, managing director at Deloitte, discussed how social determinants of health and a personalized member experience can improve medication adherence and health outcomes.
“The missing link in healthcare is understanding what matters to the people involved,” PatientWisdom founder and CEO Gregory Makoul said in a statement. “We are leveraging communication science to improve health and care by focusing on what matters, bringing new meaning to ‘personalized’ medicine.”
The New Haven company has brought its approach to health systems like Yale New Haven Health, OSF HealthCare and Froedtert & the Medical College of Wisconsin.
Last fall, OSF Ventures, the corporate investment arm of OSF HealthCare, announced it had invested in PatientWisdom. In a phone interview, Stan Lynall, OSF Ventures’ vice president of venture investments, said the organization cannot disclose the amount of the investment due to an internal policy.
To date, PatientWisdom has raised a total of $3.45 million, according to a news release.
Photo: CaptureTheWorld, Getty Images
