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Pharmacy benefits is a complex environment and using the traditional, decades-old playbook to manage pharmacy benefits performance is daunting. There are 100,000+ drugs and drug formulations, 70,000+ pharmacies, 1M+ providers, and 100M+ patients all with perceived competing priorities. No big deal, right? In reality, with technological advances we can toss the old playbook of running and analyzing reports in favor of the new rules for boosting pharmacy benefits optimization by leveraging: 1) Big Data, 2) Analytics Automation, and 3) Alert-based Action.

Brandon has a dynamic, 25-year leadership career spearheading several businesses with emphasis on growth, revenue, and sales performance. He has run many high-growth environments, including start-ups, turnarounds, and $1B+ dollar businesses. As a serial entrepreneur, he has a proven record of founding new businesses and advancing them through growth and acquisition, merger, or roll-up including ScripPoint, Veridian, and AviaraMD. He is the driving force for vision, new market strategy, revenue growth, technology development, and partner alliances.

Sramana Mitra: Let’s start by introducing our audience to yourself and Xevant.
Brandon Newman: I’m the CEO and Co-Founder of Xevant. I have personally been a part of the pharmacy benefits and the broader healthcare technology industry for nearly 30 years in solving some of the ongoing needs that are facing healthcare such as increasing costs, changes in therapy, and changes in how employers and other players across the US manage costs in healthcare.

The journey is more important than the destination: having sold a few businesses at the completion of a long hard-fought battle to succeed, I’ve found that the journey getting to the end result has always been infinitely more valuable to me than the final result. The people you meet, the experiences you have, and the lessons learned over a sustained period of time are building blocks for future opportunities and exponential growth that are tremendously more valuable than any financial exit from a business will be.

Prescription drugs in the United States on average cost around 2.5 times more than those same drugs do in other Western countries, according to a new report from the nonprofit, nonpartisan research organization, RAND Corporation.

Xevant is an Analytics and Automation technology solutions provider focused on reducing the cost of healthcare and improving patient outcomes. We enable healthcare payers, health plans, TPAs, PBMs, consultants, and brokers to deliver better insights and analytics to their end customers through a robust suite of data automation.

Employers are alerted in real time when prescription drug prices skyrocket, thanks to a partnership between Mercer and a Utah-based PBM analytics company called Xevant. Data analytics provided by Mercer and Xevant — made available at the start of this year — will help employers audit their health plans for cost efficiency.