Xevant: Optimizing Your TPA Platform Solution
Automated Insights. Optimized Performance.
Xevant brings game changing pharmacy data analytics to the marketplace with the development and launch of its unique analytics platform, unmatched in its scope and depth. This advanced platform empowers TPAs to reduce costs for clients with real-time insights, including:
- A powerful and ever-expanding pharmacy data analytics platform
- 12 modules, 300 dashboards, and over 3,500 individual reports
- Real-time, intelligent analytics that promote optimized business practices, reduced operating costs, and improved patient outcomes
TPAs are vital to healthcare. Xevant is vital to TPAs.
Pharmacy being a big driver of health care costs in the U.S., a TPA can spend significant time and effort in solving PBM challenges, such as:
- Multiple PBM relationships with multiple clients
- Numerous sources of reporting in varied formats, quality, and availability
- Inconsistent depth of analyses lacking relevant information
- Untimely and inconsistent analyses and reporting from PBM account teams
- Poor budget allocation leads to lost opportunities, waste, and inefficient client management
- Maximizing value of RFP responses with varied sources of data and pricing models
- 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
Data requires reliability and speed to quickly bring critical concerns to the surface. Xevant is completely customizable for TPAs 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; savings/cost avoidance for TPA clients is visualized real-time
- 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
Rebate Optimization and Transparency
Xevant instantly identifies opportunities to effectively manage utilization, ensure optimal formulary adherence, and maximize rebate value. Our TPA platform solution allows for TPAs to account for costs down to the penny, and reduce/eliminate fees in the rebate supply chain, auditable at the NDC level.
Magnify the TPA Sentry Effect
TPAs can audit retail network performance 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 TPA 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.
Powerful Pharmacy Trend Analysis
Xevant provides TPAs with tools to identify primary sources of cost increases such as PBM discounts, drug inflation, drug mix, utilizer changes, and intensity. TPAs can quickly pinpoint the main causes of increases to pharmacy claims costs allowing them to focus their efforts more efficiently.
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 instead of weeks or months.
- With a click of a button, generate and export client-ready plan reviews into a PDF or PowerPoint, ready to share immediately
GET THE RIGHT TPA platform SOLUTION 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 12:1 on savings v. costs)
5,000 total hours conserved per quarter on Plan Review prep
Average Reduction in Claims Costs (3%)
Optimizing PBM contracts guarantees and performance in real-time
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
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.