The Portuguese was forced off on a stretcher after colliding with teammate Conor Coady during injury time at Molineux.
Wolves' medical staff have already dealt with one serious head injury this season, Raul Jimenez suffering a skull fracture at Arsenal in November from which he has yet to return.
However, speaking after his side was beaten 1-0 by the Reds, Nuno revealed that Patricio's prognosis is far more encouraging.
He told Sky Sports: "We just have an update now, he's okay. He's conscious, he remembers what happened, he's aware. He's okay.
"[It was] a collision with Coady, I think, the knee of Coady on the head. But he's okay. We speak already, he's okay.
"All these situations, when it's a concussion on the head, gets us worried. But he's okay, he's going to recover, everything's okay."
Liverpool forward Diogo Jota scored the winning goal on his first return to Molineux since sealing a £45m summer move to Jergen Klopp's team.
But his first thoughts after the match were for his former Wolves and current international colleague Patricio.
"Life is more important. I hope it's nothing too serious and we wish him obviously a speedy recovery."