Xevant, a leader in automated analytics for the pharmacy benefits industry, announced the launch of new AI-powered capabilities designed to revolutionize the ingestion and standardization of healthcare data. These advancements address one of the most significant challenges faced by pharmacy benefit managers (PBMs), health plans, consultants, and employers—managing the influx of diverse, complex data formats quickly and efficiently.
Key Features:
- Xevant’s new AI-powered platform automates the ingestion and analysis of data from multiple sources, eliminating manual processes and reducing time spent on data integration by as much as 65 percent.
- The AI solution autonomously identifies and standardizes data from disparate formats into a consistent, usable structure, allowing PBM stakeholders to achieve real-time decision-making.
- Through reinforcement learning, the system continuously improves by learning from human adjustments, ensuring greater accuracy and efficiency with every interaction.
“With the integration of AI, Xevant is addressing one of the most critical barriers to streamlined pharmacy benefit management,” said Brandon Newman, CEO of Xevant. “Our AI not only speeds up data ingestion and analysis, but it also empowers PBM stakeholders to make informed decisions faster and more efficiently than ever before.”
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Pharmacy benefit management relies on vast amounts of data from multiple sources, all formatted differently. Traditionally, the process of standardizing this data for meaningful analysis has been time-intensive, slowing down decision-making. Xevant’s AI-driven approach tackles this issue head-on by autonomously transforming data from various formats into a consistent structure at scale. This innovation provides PBM stakeholders with immediate, actionable insights, enabling them to make faster, data-driven decisions that directly affect cost management and patient care quality.
The platform’s AI capabilities with reinforcement learning, position Xevant as a forward-thinking leader in healthcare data analytics. By reducing the manual burden on PBM stakeholders and streamlining complex data processes, Xevant’s solution not only improves pharmacy benefit management but also enhances patient outcomes by allowing quicker, more accurate decision-making.
Xevant’s continued investment in AI will further extend these capabilities, helping more clients achieve the lowest net costs faster while optimizing pharmacy benefits and improving affordability. These improvements pave the way for a significant shift in managing data across the healthcare industry.
SOURCE: Businesswire