LEHI, Utah, Nov. 02, 2022 (GLOBE NEWSWIRE) — Xevant, the leader and creator of automated data analytics for pharmacy benefits organizations, has successfully attained SOC 2 Type 2 compliance through an audit performed by Larson & Company, an independent CPA firm. A widely recognized auditing standard developed by the American Institute of Certified Public Accountants (AICPA), SOC 2 compliance confirms Xevant’s controls and processes meet certain AICPA Trust Service Criteria, verified through an in-depth independent audit as they relate to security, availability, and confidentiality of a system.
The SOC 2 Type 2 audit involves a rigorous evaluation of internal controls – specifically how a company safeguards customer data and how well those controls are operating. The design suitability of applicable security controls in Xevant’s pharmacy benefits platform and products were also closely examined.
“At Xevant, information security remains at the core of our operations since we handle and manage confidential customer health data,” stated Chad Davis, Security and Compliance Director at Xevant. “Our SOC 2 Type 2 result demonstrates our commitment to protecting customer data. Xevant has successfully integrated security controls and continuous improvement into our daily work and company culture.”
President of Xevant, Jeff Lininger, added, “Many of our customers are top healthcare organizations with locations throughout the country. They rely on Xevant to deliver strong information security and privacy management systems and controls to minimize risks and maintain compliance with laws, regulations, and internal policies. Our SOC 2 Type 2 attestation provides validation and demonstrates our continued commitment to protecting our clients’ data within our comprehensive platform and our robust solutions.”
Xevant previously attained SOC 2 Type 1 in 2021 and is on the pathway to achieving HITRUST (Health Information Trust Alliance) certification.
The SOC 2 Type 2 audit report is available to Xevant’s customers and prospects under NDA upon request.
About Xevant: Xevant’s revolutionary pharmacy benefits platform infuses real-time automation and alerts throughout the data analysis process accelerating and simplifying the painstaking task of report building for PBMs, TPAs, Health Plans, Brokers and Consultants. With Xevant, critical pharmacy analysis that took weeks, months or more can now be done instantly. The results are optimized business processes, reduced operating costs, and improved patient outcomes. Xevant is recognized as one of Modern Healthcare’s Best Places to Work and America’s No. 1 Fastest Growing Private Software Company on the 2022 Inc. 5000 list. Visit www.xevant.com and follow Xevant on LinkedIn for more information about how it helps its customers deliver faster, more accurate results.
About Larson & Company: A full-service accounting and business advisory firm with 95 employees and four offices in Utah, Larson & Company has been recognized as a top firm in Utah and the Western region specializing in accounting and advisory services for insurance entities, small-to-medium sized businesses, government organizations, not-for-profit organizations, SOC audits, tax planning and preparation, and accounting.
Kayley Green, Marketing Specialist