All flowering plants eventually loose their flowers: roses, Marigolds, apple blossoms, and orchids. So it's perfectly normal for your flowers to fade and drop. Also like other flowering plants, your orchid will rebloom again for you next year.
If you haven't already done so, go to
www.aos.org and download a culture sheet on how to care for your Phal. One is also available through this forum.
Give it a read and let us kow if you have any questions.
Welcome to the forum!