Brandon Newman: Unleashing the true potential of technology in healthcare
In the modern digital era of business, technological advancements and innovation continue to impact all industries. In healthcare, these developments 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 and reduce costs. However, the number of increasing data points such as healthcare encounters, claims, events, and more, has made finding opportunities to reduce costs and improve health painstakingly difficult – mainly due to the lack of timely analysis of the sheer amount of reports and data.
To address the gap in timely analysis and create more opportunities in the healthcare benefit space, Brandon Newman, Xevant CEO, and the founding team at Xevant came up with a unique solution based on insight and technological prowess. Xevant was launched in 2017 in Lehi, Utah as a platform that not only eliminates the need for countless hours of analyzing vast reports but also provides insights and solutions in real-time while delivering immediate savings and improved patient outcomes.
The name Xevant is a reflection of the service that the company and its people provide. A combination of ‘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 is to enable accessible and affordable healthcare through data and analytics automation by eliminating the difficult task of running and analyzing reports.
Converting data into opportunity
While many insightful reporting platforms already exist in the healthcare industry, there was still the need for 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. The company has a certain obsession to reduce every extra second a user spends compiling data for customers.
Xevant was deployed to automate every conceivable pharmacy benefit in real-time. The result was an AI solution that analyzes thousands of possible scenarios for every administrator or payer and each of their end-customers and patients on a daily basis while automatically notifying 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 – it also enables real-time performance optimization to immediately solve issues rather than waiting many months. This collectively contributes to higher cost savings, shortened turnaround times, and better patient outcomes.
Our obsession is creating new automated analyses so that clients can spend their time implementing solutions, saving costs, and improving health.
A Xevant solution for everyone
In the pharmacy benefits space, Xevant has optimized more than 10,000 clients and analyzed more than 20 billion claims all in real-time. Brandon is confident that his platform can also be successfully deployed to a broader spectrum of healthcare and medical facilities, laboratories, and other sub-markets.
In certain circumstances, the company has been known to assist clients with completely new, more proactive, and agile business models 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 clients’ requirements. Xevant enables its clients 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 been responsible for delivering healthcare client management, repricing, savings, and client optimization for over 30 years. His motivation to start Xevant came from an incident around 10 years ago.
While working for a different company at the time, Brandon and his team created a plan that would save their client around $83 million in annual costs. This report was backed by extensive research and data. However, since it took the team months to retrieve and compile this data, the client did not consider the plan as a relevant solution and commented that the report was based on old findings.
Brandon realized that in the pharmacy benefits industry, one is always playing catch up with new trends due to the lack of access to timely data. That was the genesis of Xevant.
The end result is a business and client optimization platform that provides greater sustained savings for all healthcare stakeholders while delivering solutions that improve health, now.
The driving force of an industry leader
Brandon is deeply committed to his wife Misty, his five children, and his community. He believes strongly that a balance between work life, physical, social, and spiritual life is imperative to success. He and his family like exploring places where they can be cut off from the rest of the world for a while, with the occasional complete separation from phone signals. Brandon considers his family as his ‘why’ to everything he does.
Embrace, optimize, reach greater heights
Today, Brandon and Xevant are entirely focused on bringing value by delivering solutions and services to payers, pharmacy benefits managers, administrators, consultants, and brokers. What started with tireless efforts 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.
“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 toward something better than when I started. I want my legacy to be that I worked 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.”
Looking ahead, Brandon is excited to be a part of newer advancements now that industry leaders have started to understand the optimal, fast, and cost-saving technology that platforms like Xevant have to offer. 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.”