PHIflow is a contract analytics platform that leverages artificial intelligence to accelerate health care organizations’ contract review projects. It works with existing contract management solutions to help health care systems and payors review and categorize critical, time sensitive contract information driven by legal, compliance, mergers and acquisitions and information security initiatives.
PHIflow brings AI-based, accelerated contract review to health care organizations, providing an advantage over document review temps, outside counsel and an internal reallocation of resources. “Today, attorneys and compliance professionals manually review contracts to determine key dates, obligations, execution status and type. When a health care organization has thousands of contracts, this impossible task leads to an elevated level of regulatory risk.” PHIflow’s platform includes Obligation Extractor, which automatically extracts and analyzes contractual obligations such as indemnification clauses, insurance requirements and breach notifications; Signature Detector, which automatically detects if contracts have been executed; andContract Classifier, which automatically classifies contracts within existing contract management systems such as employment agreements, arrangements and BAAs. “Recently, a large health system needed to review more than 10,000 contracts for one particular clause. Temps were hired, but when the health system was pushing against a federal deadline and only a fraction of the contracts were reviewed, PHIflow’s platform was deployed to analyze the 10,000 contracts. The project was completed within 30 days, well before the federal deadline.”
By navigating directly toward health care regulatory compliance, PHIflow offers legal technology—and compliance expertise—that is health care-specific. “Health care is the only market we serve, and it always needs health care-first technology.”