Co-Founder & Chief Operating Officer
It is no secret that the healthcare industry as a whole is facing greater and greater scrutiny each year, and the industry is growing more litigious. Pharmaceutical companies in particular face patent litigation, antitrust litigation, class actions, multidistrict litigation, and False Claim Act litigation.
Now that the courts have largely reopened, thousands of civil and criminal cases involving pharmaceutical companies are moving forward. Litigation brings with it enormous cost in terms of both money and time. Staying on top of multiple cases may seem impossible. To offer an example of how one company addressed these issues, we’ve released two new case studies detailing how Text IQ’s AI was able to solve the litigation challenges of a Fortune 500 pharmaceutical company.
In the first case study, the company’s Assistant General Counsel (AGC) faced a highly-contentious and fast-approaching litigation with several millions of documents in need of review. A review of this magnitude would come with a hefty price tag and open the company up to additional risk. To further complicate matters, several members of the legal team, including the general counsel, acted in both a legal and business role within the company, and this “dual role” was a nuance often missed by human reviewers who were conducting the privilege review.
The case study covers how the AGC utilized Text IQ’s AI solution to overcome their “dual role” problem during a proof of concept (POC) and how she was able to use the POC results to gain support of the new technology from her stakeholders.
Building off of the overwhelming success of the POC, the Fortune 500 pharma company decided to apply Text IQ’s AI solution more broadly in its document review process. The document review process is a major pain point for many companies in terms of time and resource cost. The second case study focuses on how Text IQ’s AI transformed the company’s privilege review, responsive review, and privilege log creation process. Ultimately, Text IQ was able to shave months off the company’s typical review time and save the company nearly a million dollars on just this one matter.
These case studies provide an excellent example of how Text IQ’s AI solutions can transform document review and overcome challenges that once seemed insurmountable. Check out the full case studies here: Fortune 500 Pharma Co. Head of Litigation Uses POC to Gain Buy-in for AI Investment and Pharma Co. Saves Millions in Litigation by Automating Document Review.