LEHI, UT, UNITED STATES, February 28, 2024 /EINPresswire.com/ — Xevant, a leading provider of healthcare analytics and technology solutions, proudly announces the release of its latest white paper on 2024 Drug Price Inflation. This comprehensive report delves into the intricate landscape of pharmaceutical pricing, offering valuable insights into the impacts of the annual adjustments on drug costs and, consequently, healthcare expenditure.
Each January, pharmaceutical manufacturers administer changes to the list prices of numerous products. While the prices of some drugs may go down, many will see an increase. Xevant’s white paper reveals that of the approximately 775 drugs affected by inflation to date, the median increase stands at 4.5 percent. Despite the seemingly modest percentage, the cumulative effect on drug spend and member cost share becomes substantial over time. Going beyond the observation of immediate implications, Xevant offers actionable strategies to help healthcare decision-makers navigate this complex landscape.
Key highlights of the white paper include:
• A closer look at what specific types of medications are experiencing the most significant price hikes, including GLP-1s, anti-inflammatories, and migraine therapies
• Understanding the potential impact on future drug spend for healthcare organizations, payers, and end-users so that stakeholders can proactively respond to price changes
• Utilizing real-time insights and automated analytics to advise clients on cost management strategies while ensuring optimal health outcomes for members
“We are excited to present our 2024 Drug Price Inflation white paper as a valuable resource for healthcare industry stakeholders,” said Shane Garduno, VP of PBM Practice at Xevant. “In a time when drug price inflation has become a critical factor affecting healthcare costs, our white paper provides actionable insights to empower decision-makers in navigating this complex terrain, ultimately leading to lower costs and better health outcomes.”
The full white paper can be accessed by visiting Xevant’s website.
About Xevant:
Xevant’s revolutionary pharmacy benefits platform infuses real-time automation and alerts throughout the data analysis process, accelerating and simplifying the painstaking task of report building for PBMs, TPAs, Health Plans, Brokers, and Consultants. With Xevant, critical pharmacy analysis that took weeks, months, or more can now be done instantly. The results are optimized business processes, reduced operating costs, and improved patient outcomes. Xevant is recognized as the 19th fastest-growing company on Mountain West Capital Network’s Utah 100 list and the recipient of the Pharmacy Benefit Management Institute’s (PBMI) 2023 Excellence Award for cost containment.