Generative AI and Milliman cost models turn dense healthcare contracts into structured, benchmarked insight in minutes, not weeks

SEATTLE: Milliman, Inc., a leading global actuarial and consulting firm, today released Milliman Contract Clarity for Healthcare, a platform that uses generative AI and healthcare cost analytics to translate dense healthcare contracts into structured, measurable insight.

Healthcare organizations routinely rely on complex pharmacy and medical contracts to determine pricing, payment terms, performance guarantees, and financial risk. Yet critical provisions are often buried across lengthy agreements and reviewed through time-intensive manual processes, making it difficult for contracting, finance, and clinical teams to compare terms, identify unfavorable provisions, and understand the potential cost implications before an agreement is signed.

Milliman Contract Clarity for Healthcare ingests contracts, identifies potentially high-risk clauses, and benchmarks terms against Milliman's best practices. Contracting teams can ask questions across multiple agreements in plain language, compare provisions, and focus their review on terms most likely to affect cost or risk. They can then link relevant contract language to pharmacy and medical cost models to evaluate a clause's potential financial impact before signing. By bringing contract review and financial analysis into a single workflow, the platform can reduce reviews that once took weeks to minutes and help organizations negotiate with greater clarity.

"Pharmacy and healthcare contracts are long, dense, and full of terms that move millions of dollars," said Michael Hunter, principal and pharmacy management consultant at Milliman. "What used to take my team weeks, this platform does in minutes-and it ties that language straight to cost models, so you can see what a clause is really worth before you sign."

“Every healthcare organization is sitting on contracts and related documents that contain important financial and operational information, but finding and evaluating that information can require significant time and specialized expertise,” said Jim Fulton, Chief Executive Officer of Milliman. “Milliman Contract Clarity for Healthcare shows how AI can analyze the fine print at scale while Milliman's healthcare expertise helps translate contract language into decisions about cost, risk, and negotiation strategy.”

To learn more, visit Milliman Contract Clarity for Healthcare.

About Milliman AI Solutions

Milliman AI Solutions is dedicated to delivering AI-powered products and advisory services to the insurance, healthcare, and benefits markets. By combining Milliman's unparalleled subject matter expertise with leading artificial intelligence capabilities, Milliman AI Solutions helps clients transform data into decisions and complexity into competitive advantage. For more information, visit AI solutions built for insurance, healthcare, and employee benefits | Milliman | Worldwide.

About Milliman

Milliman leverages deep expertise, actuarial rigor, and advanced technology to develop solutions for a world at risk. We help clients in the public and private sectors navigate urgent, complex challenges, from extreme weather and market volatility to financial insecurity and rising health costs-so they can meet their business, financial, and social objectives. Our solutions encompass insurance, financial services, healthcare, life sciences, and employee benefits. Founded in 1947, Milliman is an independent firm with offices in major cities around the globe. Visit us at milliman.com.

Fonte: Business Wire