Conductiv launches Contract Explorer, an AI-powered contract analyzer

February 20, 2024- Conductiv, a consolidated subsidiary of Premier, Inc introduced Contract Explorer, an artificial intelligence (AI) powered contract tool designed to streamline healthcare supply chain contract management and make agreements easier to understand and simpler to navigate.

Organizations can upload 25 contracts to Contract Explorer at no cost. Once supply chain leaders upload contracts to the tool, this technology automatically captures and summarizes vital information such as contract terms, legal specifics, end dates, services and renewal terms. This data undergoes rigorous review by Conductiv’s labeling team, individuals who have extensive sourcing expertise.

Additionally, AI tools scan the contracts to extract detailed summaries and statements of work (SOWs), saving time normally spent reading lengthy contracts. With this new tool, healthcare supply chain directors can collaborate with Conductiv to swiftly access actionable insights. This efficient process allows for quick contract reviews, comparison of service providers and informed decision making for both new contracts and renewals.

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