A First-of-Its-Kind Tool Empowering Healthcare Stakeholders to Accelerate Biosimilar Adoption and Reduce Unnecessary Biologic Drug Spend
The Biosimilar Dashboard empowers health plans, employers, pharmacy benefit managers (PBMs), consultants, and benefits advisors by transforming fragmented prescription data into timely, actionable insights. This enhanced visibility enables them to optimize formulary strategies, negotiate more favorable rebates, and ultimately achieve significant cost containment while maintaining clinical efficacy.
Specialty drugs now account for 51% of total prescription spending, and this figure is expected to rise by 8% through 2025. Meanwhile, biosimilars present a potential $54 billion in savings over the next decade. Despite this promise, many payers struggle to realize these savings due to limited insight into biosimilar adoption rates, prescriber behavior, and cost trends.
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Xevant’s new Biosimilar Dashboard addresses this challenge by delivering:
- Real-Time Analytics: Automated, real-time tracking of both biosimilar and reference biologic utilization to enable proactive decisions instead of waiting for retrospective reports.
- Advanced Drug Comparison: Side-by-side evaluation of biosimilars and their reference biologics to provide the clarity needed to make data-driven formulary choices and negotiate better rebates.
- Prescriber & Pharmacy Intelligence: Identification of high-impact prescribers and pharmacies to help organizations target outreach and reinforce value-based care initiatives.
Sahily Paoline, Chief Clinical Officer at Xevant, proudly shares, “Biosimilars present a game-changing opportunity for healthcare payers, but without real-time data, organizations struggle to act.” She continues to say, “The Biosimilar Dashboard provides the clarity needed to make informed, cost-saving formulary decisions while maintaining high clinical standards.”
The Biosimilar Dashboard also supports long-term cost-containment strategies by highlighting utilization and market trends over time, along with plan-paid amounts and price inflation for each product category. This continuous visibility allows PBMs, health plans, and employers to engage prescribers and members more effectively, which strengthens relationships with manufacturers and facilitates more value-based care.
Source: Businesswire