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MSP Recovery Inc (NASDAQ:MSPR) shares are trading higher. The company provided a business update on Monday morning detailing its growth and recent advancements.
MSP Recovery said it has grown from an initial 11,000 unique healthcare member lives in 2014 to more than 34 million unique healthcare member lives as of Aug. 11. The company expects to add an additional 3 million prior to Sept. 30.
MSP Recovery also said it has completed development of a blockchain technology designed to solve significant problems the healthcare industry is facing. The company noted that it has leveraged Palantir Technologies Inc's (NYSE:PLTR) Foundry platform to "create one of the most advanced healthcare analytics tools in existence that provides real time diagnostics for healthcare payers and providers."
"Between blockchain and our partnership with Palantir, we are helping our own business in identifying and collecting historical claims and positioning LifeWallet to monetize its systems by identifying the huge flaws in the historical claims in the past and monetize at even larger scale by preventing flaws in the future," said John Ruiz, founder and CEO of MSP Recovery.
"These systems increase revenue, reduce costs, and save lives with precision in medical treatment and billing," Ruiz added.
MSP Recovery is a healthcare recovery and data analytics company.
MSPR Price Action: MSP Recovery has a 52-week high of $5.89 and a 52-week low of 94 cents per share.
The stock was up 21.4% at $2.61 at press time, according to Benzinga Pro.
Photo: StockSnap from Pixabay.
