customer success stories

SPECIALTY COPAY

NFP Reduces Drug Costs for Clients by 9%+ with Xevant’s Specialty Co-pay Assistance Automation

“We certainly couldn’t have grown as quickly as we have without Xevant.”
Nick Conway, SVP, Head of Product

NFP BACKGROUND

NFP is a leading insurance broker and consultant providing specialized property and casualty, corporate benefits, retirement, and individual solutions through its licensed subsidiaries and affiliates. They are the 5th largest benefits broker by global revenue, 5th best place to work in insurance and 6th largest US-based privately owned broker (Business Insurance).

CHALLENGES

Imprecise Member Communication

While NFP strived to have open communication with members, the level of detail they could provide was limited. With thousands of prescriptions to track per day, they were forced to give only savings estimates to members rather than exact calculations. This ultimately stifled the growth and utilization of their copay assistance program.

Manual Account Management

Getting copay cards, adding them to individual member profiles, and tracking the savings is a tedious, time-consuming process. Managing hundreds of spreadsheets daily demanded a lot of manpower from NFP. Not only did this leave them consistently short staffed, but also left no time to provide more detailed communication to members.

“While it provides value to the payer or the employer group, we think it’s the member who really wins.”

Nick Conway, SVP, Head of Product

THE XEVANT SOLUTION

NFP utilizes the customization and flexibility of Xevant’s X4 platform to provide their clients with real time actionable data.

All-In-One Platform, Built to Meet Custom Needs

Xevant’s custom solution allowed NFP to utilize multiple data sets from one platform. Now, whether a client is large or small, NFP can provide the same information and share it with account managers enabling their team to learn from each other in a fully streamlined approach.

Custom Modules Lead to More Business

NFP manages very proprietary clinical programs within the Clinical Team. To leverage those programs, Xevant built custom modules, specific to NFP, in addition to an RFP platform enabling them to analyze and understand a higher level of data. This has given NFP the ability to provide more information to clients and win more business.

Powerful Technology Provides a Competitive Advantage

The NFP sales team has incorporated Xevant’s custom platform into their sales dialogue, identifying it as a key indicator of NFP’s client successes that differentiates them from competitors.
“We can provide real-time, more efficient contract performance monitoring, which is what our clients have demanded,” stated Nick. “Contract performance management is one small component of what we do, but we believe we can deliver additional cost savings, between 5-7%, to a client based on the clinical tools, and scalable platform that Xevant delivers.”

“Xevant has helped us communicate a better story with actionable proof points on why our clients need to work with us versus working with somebody else or staying where they’re at.”

Nick Conway , SVP, Head of Product

THE XEVANT SOLUTION

To reduce the high cost of specialty medications, NFP created a specialty copay assistance program. They identify copay cards for members and apply it to patient profiles saving expenses for both members and payers. NFP partnered with Xevant to leverage their technological expertise, automation capabilities, and industry knowledge. The result has been a 9%+ decrease in drug costs.

Enhanced Program Utilization

With Xevant’s help automating the specialty copay program, NFP can focus on individual accounts and patients, independent from PBMs. They are now able to review member prescription history, ensuring that the medications are appropriate and that they’re getting the lowest cost possible.
This individualized account management helps members learn how to utilize co-pay cards to reduce drug costs and leads to improved outcomes.

Faster Results

Manual processes that formerly monopolized the NFP team’s time were completely automated with Xevant’s solution. NFP is now able to immediately identify clients in need of renewals, access an automated analysis of all pricing options with recommendations, and in less than 10 minutes build proposals and recommendations for clinical programs.
Eliminating the painstaking processes of updating spreadsheets coupled with access to real-time data enables the analytics team at NFP to not only move to deeper projects but also show their value to clients in ways they couldn’t before.

“What’s really made a difference for us to be able to move quicker, roll out the product, and provide enhancements is Xevant’s understanding of the industry. Their expertise allows them to solve problems quicker and execute on what we’re looking to do.”

Nick Conway, SVP, Head of Product

  • Reduced drug costs by 9%+. The ability to quickly identify co-pay cards and apply it to profiles has benefited both members and end-users.
  • Grew revenue by 78%. With Xevant’s help, the last two years have been the fastest growth period for NFP. Conway said, “We certainly couldn’t have grown as quickly as we have without Xevant.”
  • Personalized Service. No longer relying on PBMs for data has allowed NFP to focus on individual members ensuring they are taking advantage of all cost savings opportunities afforded to them.
  • Business Process Optimization. Saving so much time with manual processes has allowed the NFP team to allocate their time more efficiently helping the organization holistically grow.
  • Better communication. With Xevant’s automation, the team at NFP are freed up to offer more exact calculations on the savings per program.

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