Challenge
A Fortune 10 healthcare company is rolling out a new product that requires suppliers to execute an updated contract. To support the rollout, the client needs to migrate hundreds of supplier relationships onto a new form, categorizing each supplier appropriately, extracting key terms from existing contracts, and ultimately executing the new agreements.
Approach
Axiom embedded a senior lawyer with the client to extract key contract data and migrate supplier relationships with new participation agreements. To handle volume without sacrificing accuracy, Axiom used Legora, an AI contract review platform, to extract entity details, stitch together templates, and process 344 supplier contracts at a fraction of the time manual review would have required. The Axiom lawyer then manually cross-referenced the client's internal source-of-truth records to flag which suppliers required which combination of agreements and to correct record errors until project completion.
Impact
- Compressed weeks of manual contract review into days, combining senior Axiom legal talent with AI-enabled tooling to deliver at a speed and cost point traditional outside counsel could not match.
- Verified and corrected entity names, addresses, and Protected Health Information (PHI) obligations across 344 contracts, leaving the client with a clean and accurate source of truth.
- Properly categorized and executed Professional Services Agreements (PSAs) and Business Associate Agreements (BAAs) for over 300 suppliers.
*Cost savings estimates are based on actual Axiom rates compared to equivalent law firm rate averages as listed in Wolters Kluwer’s Real Rate report.
