Intelligent PBM analytics and advanced rebate processing prove to fuel growth and momentum
Xevant, the leader and creator of automated data analytics for organizations managing pharmacy benefits, announced its remarkable growth in 2022 and the momentum it is building for 2023.
The company’s previous fiscal year (ending Jan. 31, 2023) saw significant milestones, including 603% and 637% year-over-year increases in annual recurring revenue (ARR) and net customer retention, respectively. Additionally, Xevant’s employee headcount grew by 84% over the last year. These monumental achievements can be attributed to innovative technology, customers’ expanded use of products and solutions, and expansion into rebate and hospital markets with a continued focus on driving down drug costs.
Xevant was also awarded and recognized by several major publications in 2022, including:
- Inc. 5000 No. 1 Fastest Growing Private Software Company (No. 28 Fastest Growing Private Company overall)
- Inc. Regionals Fastest Growing Private Companies (Rocky Mountains)
- Modern Healthcare Best Places to Work in Healthcare
- Utah Best of State (Data Services)
- Utah Business Best Companies to Work For
Looking ahead, Xevant plans to utilize strategic partnerships to power its growth strategy, invest in key business areas, and expand market reach. The company looks forward to moving its headquarters into a larger office space while continuing to add top-caliber employees to its team. New developments and enhancements to Xevant’s data platform and core product solutions are also planned.
“Xevant offers industry expertise, groundbreaking solutions, and superior customer service – all while navigating a fast-growing, everchanging environment,” said Brandon Newman, CEO. He added, “These achievements, the people behind them, and our valued customers are ultimately propelling us toward our goal of positively impacting over 100 million lives by empowering healthcare stakeholders to solve issues with access, quality, and cost.”
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