Palantir and R1 Launch AI Lab R37 to Revolutionize Healthcare Revenue Cycle Management

What's Going On With Palantir Technologies Stock Today? - Palantir Technologies (NASDAQ:PLTR)

Palantir Technologies Inc PLTR shares are trading higher in premarket on Friday. Revenue cycle management (RCM) company, R1 has joined forces with Palantir Technologies Inc PLTR, known for its expertise in artificial intelligence (AI), to create an innovative AI lab named R37. The partnership seeks to transform healthcare financial outcomes by creating advanced automation solutions. By combining R1's deep understanding of payer-provider relationships with Palantir's AI technology, the lab aims to streamline healthcare reimbursement processes more efficiently. R1 works with 94 of the top 100 U.S. health systems, giving it a strong position to drive changes in the RCM industry. Also Read: What's Going On With EV Charging Provider ChargePoint's Stock Today? By integrating Palantir's advanced AI technology with R1's vast data, R37 is set to deliver faster, more accurate and scalable reimbursement results for healthcare organizations. The partnership comes at a time when administrative costs in U.S. hospitals now exceed 40% of their total expenses, amounting to over $160 billion annually. With increasing economic pressures and complex payer relationships, the need for AI-driven solutions in healthcare reimbursement has never been greater. R37 will focus on automating labor-intensive tasks such as coding, billing and denials management to improve efficiency, accuracy and cash flow. In the initial phase, R37 has developed AI-powered solutions that are already yielding positive results in early-stage testing. R1 plans to roll out comprehensive 'agentic RCM worker' solutions to enterprise customers in the second half of 2025, aiming to further optimize the revenue cycle process. Price Action: PLTR shares traded higher by 3.08% at $82.07 in premarket at last check. Read Next: Meta's Community Notes To Replace Third-Party Fact Checkers Photo: Shutterstock PLTRPalantir Technologies Inc$82.523.64%Stock Score Locked: Want to See it? Benzinga Rankings give you vital metrics on any stock - anytime. Reveal Full ScoreEdge RankingsMomentum98.90Growth37.19Quality-Value3.12Price TrendShortMediumLongOverview This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors. Market News and Data brought to you by Benzinga APIs

R1 and Palantir unveil AI lab to cut healthcare costs By Investing.com

MURRAY, Utah & DENVER - R1, a prominent player in revenue cycle management (RCM) for healthcare, and artificial intelligence firm Palantir Technologies (NASDAQ:PLTR) have announced the creation of R37, an AI lab aimed at redefining financial operations in healthcare. The collaboration leverages R1's extensive experience in RCM and Palantir's advanced AI technology to develop automation solutions intended to address challenges in healthcare reimbursement. In the United States, administrative expenses account for over 40% of hospital costs, with annual spending on RCM surpassing $160 billion. As healthcare providers navigate economic challenges and complex payment structures, AI-driven solutions are becoming increasingly necessary. R37 is set to automate revenue cycle processes, including coding, billing, and managing denials, to enhance efficiency, accuracy, and cash flow for healthcare organizations. R1's influence, serving 94 of the top 100 U.S. health systems, positions it well for transforming RCM. The company manages a vast repository of proprietary RCM data, including over 180 million annual payer transactions and 550 million patient encounters. By integrating Palantir's AI tools, which have driven the company's robust 28.8% revenue growth and industry-leading 80.2% gross profit margin, with R1's technology and domain knowledge, R37 aims to achieve rapid and precise scalable reimbursement outcomes. Joe Flanagan, CEO of R1, expressed enthusiasm about the partnership, highlighting the potential for the lab to expedite investments for providers and create a new revenue cycle that benefits both providers and patients. Alex Karp, CEO of Palantir Technologies, echoed this sentiment, emphasizing the goal of scaling intelligent automation to enable better patient care. R37 has been operational for several months and has produced AI-powered applications that are showing promising results in initial tests. R1 plans to roll out 'agentic RCM worker' solutions to a group of enterprise customers in the latter half of 2025. This partnership represents a significant move in the healthcare industry, aiming to reduce administrative burdens and improve the financial and operational performance of healthcare providers. While Palantir currently trades above its InvestingPro Fair Value, investors can access detailed analysis, including 15+ additional ProTips and comprehensive financial metrics, through InvestingPro's extensive research reports. The information for this report is based on a press release statement. In other recent news, Palantir Technologies Inc. announced the addition of six new clients for its Warp Speed software, aimed at enhancing manufacturing and fleet management processes. These clients include Epirus, Red Cat, Saildrone, Saronic, Ursa Major, and SNC, each deploying the platform to optimize production and engineering innovation in sectors like national security and maritime operations. Additionally, Palantir is set to host its AIPCon event, featuring new and existing customers such as Heineken, Walgreens, and AT&T, highlighting the company's expanding client base and software capabilities. In a strategic move, Palantir has partnered with Ondas Holdings to support the global adoption of Ondas' drone platforms using Palantir's Foundry platform. This collaboration aims to enhance Ondas' operational capabilities and expand its market presence. Meanwhile, Loop Capital Markets adjusted its price target for Palantir to $125 from $141, maintaining a Buy rating after a private meeting with Palantir's CFO, which reinforced confidence in the company's strategic positioning in the enterprise AI space. Despite these developments, Palantir's upcoming inclusion in the S&P 100 has been overshadowed by concerns about potential Defense budget cuts. However, Wedbush analyst Dan Ives remains optimistic, suggesting that Palantir is well-positioned to secure more government deals and IT budget allocations. These recent developments reflect Palantir's dynamic role in the evolving landscape of technology and government spending.