In the modern digital era of business, the outreach of technological advancements and innovation continues to grow to change the dynamics of all industries. In healthcare, these technological developments have started to play a vital role for customers and enterprises alike. Devices like smartphones and tablets have replaced orthodox monitoring and recording systems due to their higher efficiency, precision, and faster troubleshooting ability.
Today, there are thousands of mighty healthcare organizations with countless talented and experienced professionals who strive to improve patient health while seeking to reduce costs. However, due to the vast number of increasing data points like healthcare encounters, claims, events, and more, it has become painstakingly difficult to find opportunities to reduce costs and improve health, mainly due to the lack of timely analysis of the sheer amount of reports and data. Collating all this data can take several months after an event and by then this data is mostly considered redundant because of the amount of time that has already passed.
To deal with this gap in timely analysis and to create more opportunities in the healthcare benefit space, Brandon Newman, CEO Xevant, and the founding team at Xevant came up with a unique solution made out of insight and technological prowess. Xevant was launched in 2017 as a platform that not only eliminates the need for countless hours of running around analyzing vast reports but it also provides insights and solutions in real-time, simultaneously delivering immediate savings and updated patient outcomes.
The name Xevant is a reflection of the service that the company provides and the people they are. A combination of the word ‘Xel’ a Mayan word for natural spring and ‘Savant’, a French word for intelligence, Xevant in its entirety translates to ‘spring of intelligence’ or in the company’s case ‘Automated analytics and insights.'
Our mission and daily commitment is to enable accessible and affordable healthcare by eliminating the difficult task of running and analyzing reports through data and analytics automation.
Converting data into opportunity
There are many robust and insightful reporting platforms already in place in the healthcare industry but there still remained the need for analytic automation and less self-service reporting for the broader healthcare and payer market. Xevant enables its partners to reduce the time, resources, and labor to extract complex problems and insights from large pharmacy databases. There is a certain obsession within the company to reduce every extra second a user has to spend to look for and compile data for their customers.
Xevant was deployed to automate every conceivable pharmacy benefit in real-time. The result of this was the creation of an automated, AI solution that analyzes and reviews thousands of possible scenarios for every administrator or payer and each of their end-customers and patients on a daily basis and automatically notifies the individual stakeholders.
Xevant found early success because it delivered what it promised. On using the platform customers observed that not only does it eliminate over 90% of the tedious analytic effort required to run and analyze reports but it also enables real-time performance optimization to immediately solve issues rather than waiting many months. This collectively contributes to higher cost savings, lesser turnaround times, and better patient outcomes.
Our obsession leads to creating new analyses that can be automated so that clients can spend their time implementing solutions, saving costs, and improving health, rather than researching the root causes through difficult and timely analysis.
A Xevant solution for everyone
In the pharmacy benefits space, Xevant has been responsible for optimizing more than 10,000 clients and analyzed more than 20 billion claims all in real-time. Brandon is confident that apart from pharmacy benefits, his platform can be successfully deployed in other healthcare-specific areas as well. Already working on these new and improved processes, Brandon is eager to make available his platform to a broader spectrum of healthcare and medical facilities, laboratories, and other sub-markets.
Of course, there remain organizations that still prefer the orthodox way of collating and collecting data tells Brandon. A lack of knowledge or trust in an automated platform is something that keeps people from adopting a business model based on insight automation. For this, skilled employees personally educate and assist clients to integrate their ongoing business models with Xevant.
In certain circumstances, the company has been known to assist clients with completely new business models that have proved to be much more proactive and agile as opposed to continuing with a reactionary model.
We have had clients entirely change the way they manage customers by inserting Xevant’s solutions at the forefront of every conversation to drive the direction of client interaction.
The Xevant team is known for its ability to perceive and understand a client’s requirements. They help and educate their client to customize the platform as per the desired specifications and tailor-fit all notifications to deliver highly functional personalized solutions.
New issues, newer provisions
Brandon and his team of experts have individually been responsible for delivering healthcare client management, reprising, savings, and client optimization for over 30 years. He tells us about his motivation to start Xevant with an incident from around 10 years ago.
While working in a different company at the time, his team and he created a plan that would save their client around $83 million on annual costs. This report was backed by hours and hours of research and data. However, since it took the team months to retrieve and compile this data, their client did not consider their plan as a relevant solution, rather commented on it being one that was based on old findings.
This is when Brandon realized that in the pharmacy benefits industry, one is always playing catch up with the newer trends due to the lack of access to timely data. That’s how the genesis of Xevant took off. The outcome as we know today is the invention of a business and client optimization platform that provides an entirely new way of managing an enterprise and its clients while delivering immediate long-lasting results.
The end result is greater sustained savings for all healthcare stakeholders while delivering solutions that improve health, now.
As CEO, Brandon operated Xevant as a near-strict in-office functioning model. All employees were expected to work from offices with the shared understanding that maximum productivity is achieved when sitting with your colleagues under the same roof.
Come March 2020 however, the company was forced to adopt a work-from-home approach, something that Brandon was initially reluctant about. But seeing how there was a 20% increase in productivity and a 100% employee satisfaction rate working from home, Brandon decided to happily revaluate the conclusions made in the last few years and adopted a more hybrid approach.
Having dealt with the Covid-19 change and recently having celebrated their 4th anniversary, Xevant is already on its way to establishing an east coast presence by opening an office in New Jersey with an emphasis on creating new technology and innovation.
The driving force of an industry leader
Brandon has led a dynamic leadership career where he has been instrumental in spearheading revenue, sales performance, and strategic growth for new companies as well as older established ones. He continues to maintain close contacts and relationships with other industry leaders and experts to keep up with the times and trends.
Not only does he spend hours on Google and LinkedIn researching other markets to learn new ways and technologies to incorporate in his offerings but he also has a fixed time slot every week in which he speaks to his network of connections to gather and share insight. Brandon commented “I believe anyone’s success is highly dependent on the investment made into relationships.”
Brandon is deeply committed to his wife Misty, his five children, and his community and believes strongly that a balance between work life, physical, social, and spiritual life is imperative to be successful. An avid outdoors person, he and the family-like exploring places where they can be cut off from the rest of the world for a little bit, with the occasional complete separation form phone signals. Every so often the family can be found biking, boating, or camping with the occasional cliff jump into Lake Powell. In their more relaxed free time, Brandon and his family will be found huddled in their family room binging on shows or old movies. Brandon considers his family as his ‘why’ to everything that he does.
Embrace, optimize, reach greater heights
Brandon has now been in the industry for 30 years during which he has been responsible for the success of many high-growth organizations. He considers the healthcare sector to be a vast myriad of interconnected stakeholders and sub-industries, providing unlimited opportunity to innovate.
Today, Brandon and Xevant are entirely focused on bringing meaningful value and delivering solutions and services to payers, pharmacy benefits managers, administrators, consultants, and brokers. What started with tireless days and nights to build a real-time automated analytics platform for the healthcare industry is now the go-to for those who seek to benefit from Xevant’s distinctive technology that can automate processes that were unthinkable just months ago.
“I want my legacy to be that I was willing to fail, but through trial and error, I was able to help carve that dirt road into a path towards something better than when I started. I want my legacy to be that I was willing to risk my time and resources to work hard together with equally committed teams of diverse individuals with a common goal of progress. Lastly, I want my legacy to be that I valued my family more than I did career success.”
Brandon recollects how his own motivation and outlook changed since he first started off working as a young enthusiastic employee many years ago. From being a young worker only wanting to generate profit for his company he tells us how today, several years and many life lessons later, his focus at Xevant has completely turned to “people before profits.”
Looking ahead Brandon is excited to be a part of newer advancements now that industry leaders have started to understand how much more optimum, faster and cost-saving pharmacy benefits technology platforms like Xevant really are. He says, “It’s a tremendous time to be a part of healthcare as we watch technology ‘do its thing’ just like it has for many other industries over time.”