Xevant: The Wellspring of PBM Intelligence
Automated Insights. Optimized Performance.
Xevant was founded to bring unmatched pharmacy data analytics to the marketplace with the development and launch of its X4 analytics platform, unprecedented in its scope and depth. Xevant’s co-founders and staff have over 150 years’ combined experience in the PBM space. Xevant empowers PBMs to reduce costs for clients with real-time insights, including:
- A first-of-its-kind and ever-expanding pharmacy data analytics platform
- 12 modules, 300 dashboards, over 3,500 individual reports
- Real-time automated analytics and a user-friendly interface allow for optimized business practices, reduced operating & drug costs, improved patient outcomes
PBMs are vital to healthcare. Xevant is vital to PBMs.
Pharmacy is a major driver of health care costs in the U.S.; significant time and effort goes into addressing a very serious component of health plan trend, including:
- Searching for/isolating drug plan red flags – high cost claims, brand-heavy prescribers, drug/therapy adherence, inflation, doc-shopping, abuse, and lack of coverage management
- Copay alignment
- Maximizing the value of RFP responses with varied sources of data and pricing models
- Running complex predictive modeling and forecasting reports
- Monitoring contract performance with incomplete views of the data
- Overseeing rebate performance transparency
Xevant delivers on its PBM promise – “Bad News Early Is Good News” Identifying problem areas today translates to good stewardship of the plan, savings of time, savings of cost, and client goodwill.
Automated Reporting and Forecasting
PBM data requires reliability and speed to quickly bring critical insights to the surface. Xevant’s platform is completely customizable for PBMs and consolidates data from multiple sources for faster data analysis.
- Immediately avoid problems at the patient, group, or overall plan level, now
- Identify escalating issues through automated alerts in time to act
- Ditch the “look-back” model – significant savings and cost avoidance for PBM clients is visualized real-time, every day
- Get instant alerts when performance falls above or below customized “performance zones”
- With Xevant, immediate intervention has resulted in improved member health, reduced client and analytics cost, and reduced clinical oversight, by addressing issues as they occur
More Efficient Retrospective Drug Utilization Reviews (RDUR)
Xevant makes it easier to operate and measure the impact of RDUR. Our prescription data aggregation and processing engine reduce the manual effort to identify opportunities for patient/plan outcomes.
Rebate Optimization and Transparency
Xevant instantly identifies opportunities to effectively manage utilization, ensure optimal formulary adherence, and maximize rebate value. PBMs can account for costs down to the penny and reduce/eliminate fees in the rebate supply chain, auditable at the NDC level.
Magnify Your Sentry Effect
PBMs can complete retail pharmacy audits in a fraction of the time with Xevant. Instantly audit any set of live or test claims data to validate adjudicated results vs. expected outcomes. We make it easier to assess contract performance and compare metrics against benchmarks.
Automated Pharmacy Claim Repricing and Savings Analyses
- Reprice pharmacy claims and generate savings analyses in minutes
- Infinite pricing scenarios embedded in Xevant
- Access to an automated pricing tool
- Maximize your underwriting staff’s ability to manage risk, calculate margin, and retain and secure additional PBM business
Expert Pharmacy Analysis
Along with insight into claims data, Xevant’s team of industry pharmacy professionals can assist with timely action to prevent future claims problems today.
Better Client Management Now
Xevant automates time-consuming requirements – boost your client satisfaction and retention.
Reviews, claims management, member research, and clinical management are addressed in minutes or days instead of weeks or months.
THE XEVANT PLATFORM IS HELPING PBMs TODAY
Xevant has had a significant impact for our health plan partners. Examples include:
Employer & Member Savings
With a 15% reduction in member costs from high-cost specialty drugs
Administrator ROI (auditable 5:1 on savings v. costs)
5,000 total hours conserved per quarter on Plan Review prep alone
Average Reduction in Claims Costs (3%)
Optimizing PBM contracts guarantees and performance in real-time
Overall Plan Savings (9%)
9% plan cost reduction without making changes to benefits plan
$1 million total savings on average per Plan Review per million lives
Instant Plan Reviews (saved 119 days v. traditional process)
Xevant gives you the power of a real-time plan review without waiting 8-12 weeks for PBMs and can generate a complete annual or quarterly report in just 18 seconds