ST. LOUIS, June 01, 2021 (GLOBE NEWSWIRE) -- XIL Health, a leading strategic analytics and technology company in the drug economics space, announces its latest technology suite, XIL Impact – a pioneering cloud-based platform that provides the data, dashboards and guidance to retail pharmacies, helping them navigate the complexity of today’s pharmaceutical market as they see mounting DIR fees and payer reduced reimbursements. XIL Impact’s significance in the healthcare marketplace is underscored by the contentious debate on drug and vaccine prices taking place now before the U.S. Congress.
“With the uncertainty in today’s healthcare marketplace, pharmacies are under economic pressure now more than ever before. To survive, retail pharmacies require real-time analytics that more precisely account for rapidly fluctuating market forces. XIL Impact is the first SaaS tool on the market to meet that need,” said Alexandra Robertson, Vice President of Client Growth and Innovation at XIL Health. “We have turned raw data from retail pharmacies into quality data that help industry executives make evidence-based decisions. This is especially critical as retailers continue to provide great care for Americans.”
XIL Impact’s powerful analytics tools – detailed below – allow retail pharmacies to understand what is happening with their complex financials within seconds. XIL Impact is built for pharmacies looking to visualize and access their data in a meaningful way, access a user-friendly platform and speak with a high-touch customer success team.
“XIL Impact is the only tool currently available in the U.S. healthcare marketplace with data that is updated daily in real time, while other solutions update their information only monthly or quarterly at best. This unparalleled speed and precision is critical for retail pharmacy executives to make the strategic choices necessary to account for losses and gains during the drug negotiation process,” said Brittney Tierce, VP of Operations at XIL Health. “When creating XIL Impact, we added in specific tools to the platform to help the entire retail pharmacy team. We’re constantly evaluating and developing additional features that help our clients make informed decisions.”
Measure
Retail pharmacy executives that are looking for a high-level profit and loss analysis can access XIL Impact’s Measure tool. Once claims data is sent to XIL Impact, XIL Health’s technology generates a detailed analysis, keeping a record of previous years as well as store level details.
Negotiate
Claims negotiations between PBMs and retail pharmacies typically involve several rounds of negotiation with millions of dollars at stake. Whether it be for a long or short term agreement, PBMs look to get the lowest cost for the health plans, while retail pharmacies want to maximize their reimbursement.
With the XIL Impact’s Negotiate feature, retail pharmacies can keep track of active proposals, calculate losses with a variety of options for counter proposals, and track all finalized contracts – all within milliseconds.
Analyze
In XIL Impact’s Analyze feature, IT and analytics teams can run detailed reports on their financials all downloaded into a single Excel spreadsheet. Broken down by segments and other traditionally difficult metrics to identify, analysts can take the data and run additional modeling off of it, including projections.
Organize
To streamline files, XIL Impact’s Organize tool provides retail pharmacies a place to archive their past and current payer contracts, rather than turning to solutions like Box, Dropbox, Overdrive or Google Drive, which offer no standardization and inadequate search functionality. XIL Impact’s Organize tool provides clients a complete repository in a secure location.
DIR
In the latest vertical release from XIL Impact, retail pharmacies can now improve upon their understanding of the devastating effect DIR has on their bottom line. Leveraging the DIR tool, retail pharmacies are able to see an accurate picture of their Medicare Part D gross profit and how much remains after subtracting DIR – data which is meaningful in the negotiation process.
Learn
In XIL Impact’s Learn feature, the XIL Health team provides their insights on the latest industry news, pulling from more than 32 years of experience in healthcare. The team provides specific insights every month and enables retail pharmacy executives an opportunity to read and share insights with other professionals.
A demo of XIL Impact is available upon request. For more information on XIL Impact, visit www.xilimpact.com.
About XIL Health
With a mission to help clients re-imagine business for greater success in the future, XIL Health is a strategic analytics and technology company dedicated to giving businesses what they need to compete and win in today’s uncertain healthcare market. The team works with PBMs, retail pharmacies, hospitals, health plans, startups, infusion companies, LTC pharmacies and convenience clinics to help them pivot, change their economics and find new opportunities within the rapidly changing pharmaceutical industry. By combining XIL Strategies and Analytics with XIL Technologies, organizations have access to a unique combination of pharmaceutical economics expertise and cloud-based data automation that help them win. For more information, visit www.xilhealth.com.
Media Contact
Elsa Anschuetz
Uproar PR for XIL Health
eanschuetz@uproarpr.com
321.236.0102 x233