OneMedNet Bets on AI-Powered Data Platform to Revitalize Growth, Shifts to Subscription Model

By Stephanie Lewis

Facing a challenging financial landscape, OneMedNet (ONMD) is making a bold move. The healthcare data analytics company has launched its iRWD™ platform, powered by artificial intelligence in partnership with Palantir Technologies, and is transitioning from traditional data licensing to a subscription-based model. The move signals a strategic pivot towards predictable recurring revenue and a renewed focus on providing dynamic, regulatory-grade real-world data (RWD) to the pharmaceutical, medical device, and AI-driven healthcare sectors.

For years, OneMedNet has aggregated data from over 1,750 healthcare sites, representing billions of administrative claims and clinical exams. However, the company has struggled with profitability, experiencing declining revenues and earnings over the past five years. Recent financial reports show net losses, although recent debt restructuring efforts have improved its balance sheet. Now, the company hopes that its new platform, coupled with a shift in its business model, will revitalize its growth trajectory.

A Partnership Built on AI and Data Scale

Central to OneMedNet's new strategy is its collaboration with Palantir. The partnership leverages Palantir's Artificial Intelligence Platform (AIP) and Foundry to enhance the iRWD™ platform's capabilities. “This partnership is not just about technology; it’s about creating a scalable, secure, and regulatory-compliant platform that unlocks the true potential of real-world data,” said an anonymous industry analyst familiar with the deal.

Palantir’s technology provides the infrastructure needed to ingest, process, and analyze the vast amounts of data OneMedNet collects, enabling faster data discovery, enhanced data delivery, and the implementation of conversational search capabilities. The integration allows OneMedNet to offer a platform that goes beyond static data access, providing real-time insights that can accelerate drug development, improve patient care, and drive innovation in healthcare AI.

“The combination of our extensive provider network and Palantir's AI prowess is a game-changer,” stated a source within OneMedNet. “We’re now able to deliver regulatory-grade data at remarkable speed, empowering our customers to make more informed decisions and accelerate their research.”

Navigating a Competitive Landscape

The real-world data market is intensely competitive, with established players like IQVIA, Cerner (now Oracle Cerner), Aetion, and Flatiron Health vying for market share. These companies offer a range of RWD solutions, from de-identified electronic health records to specialized oncology datasets.

OneMedNet aims to differentiate itself through its AI-powered platform, subscription-based model, and focus on delivering dynamic, actionable insights. “Many RWD providers are stuck in a traditional licensing model,” explained an anonymous consultant specializing in healthcare data analytics. “OneMedNet’s shift to a subscription service could be a significant advantage, allowing them to build long-term relationships with customers and generate predictable revenue streams.”

However, analysts caution that OneMedNet faces significant challenges in competing with established players. “IQVIA and Cerner have massive scale and deep pockets,” noted an anonymous industry expert. “OneMedNet will need to execute flawlessly and demonstrate clear value to customers in order to gain traction.”

The Subscription Model: A Risky but Necessary Bet

The transition to a subscription-based model is a bold move for OneMedNet. While it offers the potential for recurring revenue and increased customer loyalty, it also requires significant upfront investment in platform development, sales and marketing, and customer support.

“The subscription model is a bit of a gamble,” admitted an anonymous insider at OneMedNet. “But we believe it’s the right path forward. It allows us to move away from one-time data licensing fees and build long-term relationships with our customers.”

OneMedNet has secured $3.7 million in private placements, including investment from insiders, to fund the rollout of the iRWD™ platform and the expansion of its sales team. The company is targeting pharmaceutical companies, medical device manufacturers, and AI-driven healthcare startups as key customers.

Financials & Future Outlook

While recent quarters show positive net income stemming largely from debt settlements, OneMedNet has historically faced financial difficulties. The company's long-term success hinges on its ability to successfully transition to the new subscription model and attract a growing base of recurring revenue customers. The recent debt restructuring, while positive, doesn't fully address the underlying challenges of declining revenue and profitability.

“The next few quarters will be critical for OneMedNet,” said an anonymous financial analyst following the company. “They need to demonstrate that they can attract new customers and generate predictable revenue streams.”

OneMedNet’s leadership believes that its AI-powered platform and subscription-based model will position the company for long-term growth. However, navigating the competitive landscape and executing the transition effectively will be crucial for turning the tide and achieving sustainable profitability. The company’s future depends on proving that its bet on AI and a new business model will pay off in the rapidly evolving world of healthcare data analytics.