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DUBLIN, Ohio — Cardinal Health announced Thursday that it has entered into a strategic collaboration with Palantir Technologies Inc. (Palantir), a leading builder of operating systems for the modern enterprise, to design a solution that will give health systems and hospitals dynamic purchase decision insights in order to quickly improve their bottom line.
The Cardinal Health solution, which will be integrated into Foundry, Palantir’s industry-leading operating system, will deploy artificial intelligence (AI) and machine learning (ML) to bring together diagnosis and clinical data with real-time customer purchasing and consumption data for pharmaceutical products with best-in-class data and privacy protections. Future iterations of the tool are expected to help inform purchasing decisions for therapeutic utilization, reimbursement insights and predictive drug inventory needs – to help further improve the connection between health system purchasing and supply chain support.
“We are taking a proactive role in pharmaceutical decision support to provide support to our customers as they continue to manage rising drug expenses, supply chain volatility and continued drug shortages,” said Peter J. Siavelis, senior vice president and general manager of Health System and Provider Distribution & Services at Cardinal Health. “By utilizing Palantir’s platform, we are working to reshape the pharmaceutical supply chain with innovative processes, products and solutions to improve access to critical medications and streamline pharmacy inventory management.”
As hospitals balance increases in drug expenses due to the growth of specialty therapies and biosimilars, health systems are struggling to right-size pharmacy inventory together with constantly evolving payer formulary updates. Cardinal Health’s data-driven solution will mitigate some of these challenges by analyzing real-time clinical and purchasing data to effectively create a clinically-integrated supply chain for pharmaceuticals.
“Our partnership with Cardinal Health further shows our commitment to improve patient outcomes across the full healthcare value chain and Palantir’s ability to create resilience within the complex challenges of supply chain uncertainty,” said Palantir chief operating officer Shyam Sankar. “We’re excited to work with Cardinal Health to achieve their mission-critical objective of expanding access to the medications patients need, by utilizing the software built to handle the toughest problems.”
A leader in the data and analytics industry, Palantir launched its Health & Life Sciences division in 2020. Since then, the company has continued to support federal, public and private organizations and is a proven leader in delivering mission-critical software across the public health supply chain.
