Xevant, a leading provider of pharmacy analytics and automation solutions, and NFP, a leading insurance broker and consultant that provides property and casualty (P&C), corporate benefits, retirement and individual solutions, today announced the extension of their strategic multi-year partnership. The companies are collaborating to accelerate the use of pharmacy analytics and automation to drive down the cost of pharmacy benefits for NFP clients. Xevant and NFP will continue to advance innovative, big data solutions that represent meaningful value in overcoming dynamic challenges in pharmacy benefits.
The joint effort of NFP and Xevant has led to the creation of innovative, industry-leading solutions that reduce client pharmacy benefits cost by 9%-15% on average. TrendLogic, developed in partnership with NFP, is a new data-centric strategy to delineate the core drivers of pharmacy cost, address issues, and create prescriptive opportunities to reduce pharmacy benefits cost. Designed to help all benefits payers better identify and manage the core drivers of pharmacy cost, the deployment of TrendLogic demonstrates the positive results of the cutting-edge collaborative work of Xevant and NFP.
“We are thrilled to extend our partnership with NFP and their Rx Solutions Group,” said Brandon Newman, CEO of Xevant. “We look forward to leveraging what we’ve learned from the past three years to provide innovative solutions, like TrendLogic, that unlock more insights and cost savings for all pharmacy benefits industry stakeholders.”
“Rising pharmacy costs, and uncertainty on how to address it, continue to be a significant challenge for employers,” said David Lee, Rx Solutions Group president at NFP. “Our partnership with Xevant continues to provide custom solutions with the transparency and actionable data points needed to help our clients manage the rising costs of prescription drugs. We look forward to continuing our momentum and providing insights that lower the cost of prescription medications for our employers and their members.”