Xevant Unveils VerX: Revolutionizing Real-Time Pharmacy Benefits Management with AI-Powered Savings
Xevant Launches VerX: A Bold Move to Tackle the Prescription Cost Crisis LEHI, Utah—(BUSINESS WIRE)—Xevant, a trailblazer in real-time pharmacy benefits AI and analytics, has unveiled VerX (pronounced "Vair-ex"), a groundbreaking platform designed to optimize, manage, and control pharmacy benefits. VerX is the first solution to demystify the complex world of pharmacy benefits by reverse engineering prescription claims in real time to determine the lowest possible net cost for each claim. Developed over eight years, VerX integrates predictive modeling, AI simulation, and automated plan correction into a unified, scalable platform. This innovative solution is aimed at brokers, health plans, pharmacy benefit managers (PBMs), and self-funded employers seeking immediate savings and efficiency improvements across various aspects of their drug management programs. "Our industry doesn’t need more dashboards; it needs actionable insights," said Brandon Newman, CEO of Xevant. "VerX is not just a reporting tool, but a comprehensive cost containment engine that enables entirely new PBM strategies. While other platforms simply monitor, VerX predicts, simulates, and prescribes concrete actions, backed by solid evidence." The primary goal of VerX is to provide payers with the same level of transparency and control that PBMs have traditionally kept hidden. By processing more than 2,500 daily data feeds and leveraging 99% of the PBM market performance data, VerX offers real-time, AI-driven insights across several key areas: Reverse Engineering: Identifies the real-time lowest-net-cost pricing by analyzing PBM decision patterns. Plan Design Simulation: Predicts the financial impact of benefit changes, such as prior authorization (PA) edits, step therapy, copay adjustments, channel adjustments, and rebate shifts, before they are implemented. Post-Implementation Tracking: Compares actual savings against projections to ensure accountability across all stakeholders. Contract Performance Monitoring: Identifies discrepancies in PBM pricing, discounts, and rebate guarantees in real time. Utilization Optimization: Highlights inefficiencies in high-cost drug mix and suggests alternatives like biosimilars, optimal dosing, or different channels. Rebate Intelligence: Accurately projects rebate accruals and real net costs, eliminating guesswork and lengthy delays. Disruption Analysis: Quantifies the potential impact of cost-saving measures on members to safeguard the patient experience. Organizations that adopt VerX are expected to achieve average savings of 15–25%, with some experiencing up to 31% savings through optimized drug mix, channel management, and formulary realignment. These savings can be realized mid-contract, eliminating the need to wait for annual renewals or the hassle of switching PBMs. How to Get Started Xevant encourages benefit leaders, health plans, brokers, and consultants to pilot VerX with their own claims data. Running your claims through VerX can uncover missed opportunities for cost savings in real time. To learn more and begin the process, contact a Xevant expert. About Xevant Xevant is a healthcare analytics company redefining the management of pharmacy benefits. Its real-time, AI-powered platforms help organizations minimize waste, maximize contract value, and achieve tangible results in both commercial and self-funded markets. Based in Lehi, Utah, Xevant serves a diverse client base, including payers, PBMs, third-party administrators (TPAs), brokers, and Fortune 1000 employers across the United States. For more information, visit www.xevant.com or reach out to the company directly.