Yes it can be saved. Plant it in the smallest pot you can fit the roots in. A small plastic pot with lots of drainage holes is best. Overpotting (too large of a pot) kills a lot of phals. Use a chunky mix that will allow air to get to the roots (bark or coconut husk chips). You can use sphagnum moss but it's kind of tricky to grow in. Some people have luck with it and some don't. Water the plant in a sink where you can thoroughly soak it and then let it get almost completely dry between before watering again. Give it some fertilizer at about 1/4 strength every week or at least every two weeks (more often in the summer, less often in the winter). Give it the strongest light you can without allowing direct sunlight to hit the plant (bright shade). Direct light early in the morning won't burn it. Here's a link to the AOS culture sheet. Good luck.