Being a huge industry with over $4 trillion business around 25% of it is considered wasteful. This is basically because of the huge workload, repetitive and error-prone processes. At this challenging point, helping businesses in the healthcare space simplify cost and streamlining operations is Xevant. It is a pioneer in delivering one of the most innovative and intelligent analytics platform that autonomously compiles complete pharmacy claims data analyses. The solution also simplifies the operations by helping teams build reports, and identify specific client hotspots and requirements, all in real-time.
What makes the company stand out from the crowd is its revolutionary pharmacy benefits platform that infuses real-time automation throughout the data analysis process. Besides accelerating and simplifying the painstaking task of report building, the platform also automates alerts, monitor plan performance and notify users of where to act in the most precise manner. As a result, they get faster, more accurate insights in addition to the immediate and long-term cost savings for users and their clients. “Our intelligent analytics platform enables critical pharmacy analyses to be done instantly. It automates the process of reviewing and analyzing billions of healthcare events and transactions and then alerts users in real-time of top concern areas and wasteful spending,” explains Brandon Newman, Founder and CEO, Xevant.
When it comes to deploying and configuring the Xevant platform, it is as simple as a software installation. The deployment is purely based on elements related to the usage of the platform, including lives under management. Xevant’s powerful analytics platform is comprised of 12 core modules, more than 300 dashboards, and over 3,500 reports that work together to save time through automation and real-time reporting. At the core of the platform are different modules that include DataLogic, AlertLogic, ScripLogic, FinanceLogic, ClinicalLogic, BidLogic, RebateLogic, and TrendLogic. Each module is specifically designed to perform a variety of tasks, from data and finance management to clinical program automation. The platform’s analysis also includes a PBM pricing comparison to determine if a user can increase savings by securing improved PBM pricing. In addition, the platform uses advanced AI to quickly produce a detailed report that pinpoints the primary sources of pharmacy benefit cost increases by category.
Since opening its doors, Xevant’s sole mission has been to redefine the way healthcare is today and make it more accessible. Each solution, feature, and functionality that Xevant deploys is an opportunity to deliver more value to each customer. An instance that cements this fact is when the team assisted Prism Health Strategists in streamlining its plan review process. Plan reviews notoriously take weeks to months for PBMs to complete, often resulting in outdated data that prove useless to clients they are meant to serve. With the support of Xevant, Prism gains real-time data that helps guide to more savings and better outcomes. Xevant’s solution enables Prism to provide real-time insights and customize each plan review per client—taking minutes to produce rather than months.
Today, Xevant is driven by the deep insights, knowledge, and expertise from its founder Newman and his powerful team. Under the leadership of Newman, Xevant knows that the more value customers can derive, the more demand the company sees for its solutions. In 2021 alone, Xevant has had a strong push from the market to use its solutions based largely on customer feedback and word of mouth in combination with a strong sales and marketing effort. “This year, we have had many new companies contact us unsolicited seeking help to automate a historically labor-heavy analysis to accelerate their ability to deliver value to their end-customers. This cycle of delivered solutions and value received has been a staple for Xevant since our inception,” concludes Newman.
Company:
Xevant
Management:
Brandon Newman, Founder & CEO
Quote:
“Our intelligent analytics platform enables critical pharmacy analyses to be done instantly. It automates the process of reviewing and analyzing billions of healthcare events and transactions and then alerts users in real-time of top concern areas and wasteful spending”
