R1, an industry leader in revenue cycle management with over 20 years of experience, and Palantir Technologies, a leader in artificial intelligence systems, have partnered to launch R37, an advanced AI lab dedicated to revolutionizing healthcare financial performance. By combining R1’s deep category expertise in payer-provider dynamics and proprietary technology capabilities with Palantir’s cutting-edge AI tools, the lab will develop intelligent automation solutions to address the most pressing challenges in healthcare reimbursement at an impressive speed and scale.
Administrative costs now account for more than 40% of U.S. hospital expenses, with over $160 billion spent annually on RCM. As providers face escalating economic pressures and complex payer relationships, AI-native solutions have become a necessity. R37 will drive comprehensive automation in revenue cycle operations, reengineering labor-intensive processes such as coding, billing, and denials management to significantly improve efficiency, accuracy, and cash flow for healthcare organizations.
R1’s extensive reach—serving 94 of the top 100 U.S. health systems—uniquely positions it to transform RCM. R1 has been supporting automated revenue cycle workflows at scale across the largest repository of proprietary RCM structured and unstructured data. The repository includes: 180 million+ annual payer transactions, 550 million annual patient encounters, 20,000 proprietary payment algorithms, and 1.2 billion annual workflow actions. By integrating Palantir’s AI tools and capabilities with R1’s existing technology and domain expertise, R37 can unlock faster, more precise scalable reimbursement outcomes.
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“R1 is thrilled to partner with Palantir to bring the transformational power of agentic AI to the revenue cycle through R37,” said Joe Flanagan, CEO of R1. “With our leading experts in reimbursement and history of automation, this lab will further accelerate investments on behalf of providers and create a new revenue cycle that delivers a faster, frictionless, and more transparent financial experience for both providers and patients.”
“R1 brings unmatched ambition to an area of healthcare that desperately needs it,” said Alex Karp, co-founder and CEO of Palantir Technologies. “By embedding our engineers directly within R1’s operations, we can rapidly scale intelligent automation and drive measurable impact at speed—ultimately enabling providers to focus on delivering better patient care.”
The lab has been operational for months and has been producing AI-powered agentic applications that are already driving transformational benefits in initial batch testing.
Source: Businesswire