DENVER & TIFFIN, Ohio–Palantir Technologies Inc. (NYSE: PLTR, “Palantir”), a leading builder of operating systems for the modern enterprise, and Concordance Healthcare Solutions LLC, one of the largest, independent healthcare distributors in the U.S., today announced a partnership to power the first, fully integrated medical supply chain ecosystem – bringing together inventory and supply chain data from manufacturers, suppliers, distributors, and providers into one cohesive, real-time system.
One of the biggest challenges in healthcare today lies within supply chain, and the root cause is the management of data associated with critical supply chain workflows. COVID-19 exacerbated these long-standing issues, causing further shortages, back orders, and extreme spikes in demand for certain products – highlighting the lack of visibility between healthcare supply chain partners. Today, providers still face unpredictable availability and lead times for essential, life-saving supplies while manufacturers and distributors face unknown provider demand planning. Recognizing the industry is in a position to adopt new solutions to overcome this enduring obstacle, Palantir and Concordance have come together to build an ecosystem that can handle diverse data sets and disparate enterprise resource planning (ERP) tools, regardless of compatibility, to create one agnostic point of reference. Powered by Palantir Foundry, the new ecosystem is accessible to any healthcare manufacturer, supplier, distributor, provider, or government public health agency with a license.
Those utilizing this new supply chain platform will have access to the ecosystem’s live inventory data and supply chain signals within an actionable interface – meaning complete line of sight and proactive signals into supply chain information at each stage, from production, to point-of-care. Palantir’s world-leading information security also means that data is only viewable and actionable by those with the appropriate credentials. Issues like product back orders and substitutions, that historically could take hours of resources away from frontline staff, can be remedied within minutes. Ultimately, this improves patient care and reduces the burden on healthcare providers.
“The launch of this ecosystem represents a vision to fundamentally change the medical supply chain at its core, and not just for Concordance, but for manufacturers, suppliers, distributors and providers across the board. Palantir has proven to be the perfect partner to make this vision a reality,” said Lisa Hohman, Concordance CEO. “There is no doubt that healthcare providers lacking certain medical supplies and access to the appropriate data to replenish those supplies put patients’ lives at risk, and we are excited to be on a mission to change that. By enhancing the visibility throughout the supply chain for all partners, the ecosystem allows manufacturers, suppliers, and distributors to better prepare for what providers will need versus react to what providers need when it is oftentimes too late.”
“Ensuring doctors, nurses, and other essential staff have the much needed supplies to provide the optimal care for every patient is exactly the type of critical problem that Foundry was built to solve,” said Shyam Sankar, Palantir COO. “We are thrilled to be on this journey with Concordance to bring the power of data and operations together to grow this new ecosystem for the greater good.”
Access to the ecosystem requires a license and already consists of active members within the manufacturer and provider communities. Today, the ecosystem development is focused primarily on the foundational supply chain challenges that exist in the industry – enhancing visibility upstream and downstream to bring real-time information and data to users allowing for faster, more informed decisions. Looking forward, we aim to add additional workflows and logic to the ecosystem to dig deeper into the healthcare supply chain challenges that oftentimes expand beyond supply constraints. Palantir’s software is currently deployed in all areas of the healthcare value chain and beyond, including life sciences, pharma, biotech, clinical research, and healthcare operations to help power better decisions to the world’s toughest problems.