Machine Learning Clinical Requirements
Natural Language Processing (NLP) utilizes machine learning and algorithms to comprehend natural human language. With the ability to analyze unstructured data commonly found in contracts, NLP proves beneficial for providers. Contract software can automatically extract key terms, clauses, and obligations, ensuring providers stay informed about contract changes and maximize value from existing contracts. It also helps by identifying potential non-compliant clauses, improving key performance indicators, and flagging missed renewals, rate changes, and billing discrepancies. By leveraging this information, providers can limit underpayments and negotiate better contract terms. NLP is deemed essential for efficient contract management and a promising component of the future.