Solution
Shortening Contract Searches & Queries from Weeks to Days
Before adopting IntelAgree, MultiPlan was struggling with the inefficient contract repository they had in place. They managed hundreds of contracts annually, including client services agreements, nondisclosure agreements, and HIPAA agreements, but their existing storage solution on SharePoint lacked effective search functionality. Since they had to manually open and read through each PDF to extract necessary information, it often meant that answering complex questions related to contracts could take weeks.
IntelAgree stood out for its ability to perform mass OCR scanning, enabling MultiPlan's legal team to efficiently search through their contracts and find specific information within seconds. The machine learning feature also allowed them to label specific sections they were looking for, making the retrieval process even more efficient — for instance, they could simply type in "HIPPA" and find where it shows up in every single agreement.
The implementation process took six months, during which IntelAgree assisted in migrating between 7,000 and 8,000 contracts into their system. Now, with IntelAgree's robust search and labeling features, MultiPlan can answer complex questions within days instead of weeks, and the legal team has greater confidence in their ability to manage a large contract database effectively.
"Now, we're able to actually answer questions that the sales team asks us in a much more satisfactory way," said Daugherty.
Mitigating Compliance Risks with Comprehensive Searches
Dealing with a diverse clientele, including health insurance companies, third-party administrators, and brokers, MultiPlan handles a vast amount of sensitive data. This places them under the purview of several federal and state laws, along with specific contractual obligations with their clients — and two of their primary concerns were tracking data usage and security language across contracts designed to protect data.
With IntelAgree's powerful search functionality, MultiPlan can swiftly and efficiently search for compliance-specific language and clauses across their contracts. The platform also shines a light on contracts with unique requirements, such as specific security measures — for example, it can flag contracts that mandate a different password length from what MultiPlan usually requires. This not only saves MultiPlan countless hours of manual contract reading, but also significantly minimizes the risk of overlooking critical compliance information.
"Healthcare data is probably at the very top of the list of the most sensitive data you can have on a person," said Daugherty. "Being able to very quickly, and with a high reliability factor, access the information we've agreed to [with clients] on how to keep that data safe and secure is really helpful for us."
Streamlining Contract Organization and User Experience
The introduction of IntelAgree's contract organization features, particularly the ability to create families of contracts, eliminates the need to manually open each document to determine its association. With IntelAgree, it's significantly easier for MultiPlan's legal team to identify and locate specific documents, even for older contracts dating back to the late nineties.
On top of improved contract organization, IntelAgree also scored high marks for its user-friendly interface. With a diverse team at MultiPlan with varying levels of technical expertise, it was essential for the platform to be easy to use. And IntelAgree delivered.
"One of the main things for me is that it is very user friendly. It is not a complicated tool to use for a variety of tech-savvy levels," said Daugherty. She also praised the platform's consistent performance, stating that the search tool accurately pulls up relevant contracts 99% of the time.
"You never know when you're hiring a new vendor, after they do the demo, if it's actually going to work as shown," said Daugherty. "We found that with IntelAgree, it works just as advertised. And it continues to work, continues to be improved, and we've just been happy with the service."
Looking to boost compliance and efficiency for your organization? Schedule a free demo today to see how IntelAgree can help your contract management processes.
