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The U.S. pharmacy benefits ecosystem is under immense pressure. Prescription spending has surged past $800 billion, prices continue to climb at nearly 10 percent each year, and just a few large pharmacy benefit managers (PBMs) now handle the vast majority of claims. What was once a model for cost savings has become an intricate, high-stakes system in need of modernization.

For more than 30 years, the pharmacy benefits industry has tried to make prescription drug costs transparent. We’ve passed legislation, issued executive orders, and built endless dashboards — yet drug spend continues to rise, employers remain frustrated, and pharmacy benefit managers (PBMs) still operate inside a black box.

As pressure grows across the healthcare industry to reduce prescription costs, healthcare analytics company Xevant has announced a significant expansion to its VerX™ Platform. VerX is Xevant’s core software solution, built to improve transparency and efficiency in pharmacy benefit management. This new suite of systems is designed to help clients simplify their drug pricing operations.

Pharmacy benefit management (PBM) has long operated in the shadows. For decades, few leaders had visibility into the terms, fees, or incentives that drive prescription costs. That era is ending. Prescription drug spending jumped 10.2% in 2024 to nearly $806 billion, and 2025 brings sweeping reforms under the Big Beautiful Bill. The law bans spread pricing in Medicaid, restricts PBM compensation to administrative fees, and mandates pass-through reimbursement with greater transparency. For health plans and employers, adapting to this new reality isn’t optional — it’s a competitive necessity.

In an industry where prescription costs continue to climb and inefficiency drains more than $250 billion each year, Xevant is charting a new course. The Utah-based leader in real-time pharmacy benefits intelligence has expanded its VerX™ Platform, unveiling a suite of interconnected systems—Cortex, Pulse, Axis, and Nudge—that together bring to life the operational power of RxTech, the emerging technology segment transforming pharmacy benefits.

For decades, pharmacy benefits management (PBM) has operated in a haze of complexity, hidden rebates, and locked-in inefficiencies. The result has been a system where billions of dollars slip through the cracks each year while patients, employers, and health plans remain in the dark.

Despite record-breaking spending on pharmacy benefits in the U.S., tens of millions of Americans still walk away from the pharmacy counter empty-handed. According to a national survey, nearly one in three adults—about 52 million people—have left at least one prescription unfilled due to cost. Meanwhile, $200 billion in annual waste still flows through a system built on static contracts, misaligned incentives, and year-end “true-ups.”

Xevant is a company that offers the actionable insights you need to lower drug costs and improve health outcomes. Pulse 2.0 interviewed Xevant co-founder and CEO Brandon Newman to learn more about the company.

Jaylyn, we appreciate you taking the time to share your story with us today. Where does your story begin?
I’d say my career path is somewhat unconventional; I don’t have a business degree and spent some time without clear direction. I certainly never expected to be in the position that I am – as Chief of Staff helping to strategize and run a business. I started in office management and support roles and then spent a short time running a marketing department. That role quickly made me realize I prefer a holistic approach to business

In this episode of Healthcare Americana, host Christopher Habig interviews the VP of PBM Practice at Xevant, Shane Garduno, an expert in pharmacy benefit management (PBM). They discuss the role of PBMs in the healthcare industry and how they influence drug pricing. Shane explains that PBMs act as pharmacy insurance, handling coverage information, copays, deductibles, and prior authorizations. They also work with employers and health plans to control drug costs and implement cost-saving programs. PBMs negotiate discounts off the price of drugs and work with manufacturers to secure rebate dollars. Shane emphasizes the importance of transparency in PBM pricing and advises employers to negotiate for 100% of rebates and deeper discounts.