Xevant, a provider of pharmacy benefits analytics, has published a new white paper titled “Cracking Open the PBM Black Box: Unlocking Transparency and Partnership with VerX,” which details how its VerX platform helps plan sponsors and pharmacy benefit managers (PBMs) achieve data-driven alignment for improved cost management and performance.
The white paper identifies several challenges within traditional PBM models, noting that while PBMs are crucial for managing prescription drug benefits, complexities in pricing, rebate flows, and contract structures can obscure the true net cost of medications for plan sponsors. Common issues include limited access to real-time data, hindering proactive decision-making; intricate pricing across retail, mail, and specialty channels; and formulary alignment that may not always optimize value for patients and payers. These factors often lead to missed optimization opportunities until renewal periods.
Xevant’s VerX platform addresses these gaps by offering real-time visibility and intelligence, fostering collaboration among PBMs, employers, and brokers. The platform provides claim-level transparency and actionable insights, enabling stakeholders to identify and act on improvement opportunities sooner. Key features of VerX include real-time claim-level cost analysis, predictive modeling to assess the impact of benefit design or formulary changes, and mid-contract flexibility for implementing improvements without waiting for renewal periods.
Clients utilizing VerX have reported average savings ranging from 15% to 25%, with some achieving up to 31%.
Brandon Newman, CEO of Xevant, commented, “For too long, pharmacy benefits have been managed with limited visibility. With VerX, we’re helping plan sponsors and PBMs work together more effectively. Real-time insights give both parties the ability to improve performance, reduce waste, and ensure benefits deliver the value they’re designed to provide.”Xevant specializes in real-time pharmacy benefits intelligence, assisting employers, brokers, and payers in understanding true drug costs and realizing measurable savings. The VerX platform offers claim-level insights, formulary optimization, and rebate performance tracking, supporting informed decisions and prompt action throughout the pharmacy benefit lifecycle. The company emphasizes transparency, collaboration, and measurable impact in managing pharmacy benefits within the current healthcare landscape.
