The update includes significant enhancements to price evaluation and modeling, enhanced efficiency to automated pharmacy claims data analysis, and an improved user experience
LEHI, Utah, May 18, 2023 (GLOBE NEWSWIRE) — Xevant, the leader in automated data analytics for organizations managing pharmacy benefits, is proud to announce a series of enhancements to its platform and core set of automated analytics solutions.
At the center of the updates is one of Xevant’s core products, BidLogic. BidLogic is a cutting-edge solution that empowers payers, administrators, and other benefits managers to find the best pricing models in seconds by analyzing thousands of pricing scenarios. The latest enhancements mark the completion of the first phase of BidLogic upgrades, which will further streamline and enhance the pricing review process.
The following enhancements have led to improvements in BidLogic’s reprice accuracy and increased usability:
- Exclusions are now being handled on a contract basis to ensure the highest level of accuracy.
- Drug definitions are more flexible by supporting PBM specific specialty lists and the option to define generic indication based on multiple definitions.
- The user interface is cleaner, supporting the ability to choose up to six rates to directly compare against incumbent performance while still accessing an unlimited number of rates.
- Additional updates were made to include added calculations, annualization metrics, and more.
In addition to the improvements made to BidLogic, Xevant has also implemented new product functionalities within RebateLogic and ClinicalLogic. These updates are focused on boosting speed and efficiency through real-time automation, while continuing to meet the highest standards of platform security and safeguarding of customer data.
“Over the last year, we have implemented these enhancements to a highly scalable data analytics solution that empowers our clients to improve their performance through actionable insights,” said Brandon Newman, CEO & Founder. He continued, “This milestone achievement paves the way for our clients to deploy custom solutions through the industry’s only fully automated pharmacy analytics platform.”
David Ninow, Vice President of Product Management stated, “Our customers are at the center of everything we do, and Xevant is committed to continuous innovation. These latest enhancements demonstrate our dedication to staying at the forefront of the industry and delivering cutting-edge solutions to meet the evolving needs of our users and the market.”
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 one of Modern Healthcare’s Best Places to Work and America’s No. 1 Fastest Growing Private Software Company on the 2022 Inc. 5000 list. Visit www.xevant.com and follow Xevant on LinkedIn for more information about how it helps its customers deliver faster, more accurate results.
CONTACT: Media Contact: Kayley Green, Corporate Comms Manager [email protected]
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