PatientIQ, a Chicago-based healthcare technology company focused on patient outcomes intelligence, has raised $30 million in Series C funding.
The round was led by Hughes & Company, a Chicago-based growth equity firm focused on healthcare software and technology-enabled services. Existing investors Health Enterprise Partners and August Capital also participated. Travis Hughes, Founder and Managing Partner of Hughes & Company, will join PatientIQ’s Board of Directors.
PatientIQ provides a cloud-based platform that helps healthcare organizations collect, analyze and improve patient outcomes.
Its technology integrates with more than 50 electronic health record (EHR) systems, including Epic, Oracle Cerner, and athenahealth, allowing healthcare providers to collect patient-reported outcomes within existing clinical workflows.
The company currently works with more than 870 healthcare organizations and has data from over 17 million patients, with more than 70 million patient outcomes collected. PatientIQ supports healthcare organizations across more than 20 medical specialties and also works with medical device and life sciences companies.
“The reason outcomes data has been so hard to act on in healthcare isn’t a lack of will – it’s a lack of infrastructure,” said Matthew Gitelis, CEO of PatientIQ. “Building that infrastructure, specialty by specialty, workflow by workflow, is what PatientIQ has been doing for a decade. This investment is validation that the approach is working, and the fuel to take it much further.”
Since its Series B funding in 2022, PatientIQ has expanded its healthcare network from 200 organizations to more than 870.
The company will use the new funding to expand across existing medical specialties and health systems, grow its real-world evidence platform for medical device and life sciences companies, and develop a direct-to-patient marketplace connecting patients with relevant products and services.
“We spent a year studying the patient-reported outcomes space,” said Travis Hughes, Founder and Managing Partner of Hughes & Company. “What we found in PatientIQ is something rare – a company that helped create and define an entirely new category that has a meaningful impact on quality of care. We are excited to be part of PatientIQ’s next chapter of growth.”
PatientIQ’s growth comes as healthcare providers, insurers, and life sciences companies place greater emphasis on measuring real-world patient outcomes and demonstrating the effectiveness of treatments and medical products.
