Pharmacist Formulary Rebate Optimization

Pharmacist Formulary Rebate Optimization

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$104,342/yr – $146,600/yr – $188,858/yr Remote, Full-time

“Pay scale information is not necessarily reflective of actual compensation that may be earned, nor a promise of any specific pay for any selected candidate or employee, which is always dependent on actual experience, education, qualifications, and other factors.  A full review of our comprehensive pay and benefits will be discussed at the offer stage with the selected candidate.”

This position is not eligible for Sponsorship.

MedImpact Healthcare Systems, Inc. is looking for extraordinary people to join our team!

Why join MedImpact? Because our success is dependent on you; innovative professionals with top notch skills who thrive on opportunity, high performance, and teamwork. We look for individuals who want to work on a team that cares about making a difference in the value of healthcare.

At MedImpact, we deliver leading edge pharmaceutical and technology related solutions that dramatically improve the value of health care. We provide superior outcomes to those we serve through innovative products, systems, and services that provide transparency and promote choice in decision making. Our vision is to set the standard in providing solutions that optimize satisfaction, service, cost, and quality in the healthcare industry. We are the premier Pharmacy Benefits Management solution!

Job Description

Responsibilities include working with assigned clients, the MedImpact Account team, external vendors and internal MedImpact departments to identify client specific opportunities and to financially evaluate those opportunities and present recommended strategies to the client.  This role analyzes large data sets to identify opportunities; conducts benchmarking analyses; reviews, tracks rebate performance and models rebate opportunities; ensures client contract terms related to financial performance are monitored and tracked; and identifies and implements new opportunities and strategies to assist clients in meeting their financial goals.     

Essential Duties and Responsibilities include the following. Other duties may be assigned.

  • Proactively identifies client specific financial strategies to manage plan costs.
  • Models clinical rebate opportunities and present opportunities to assigned clients.
  • Proactively recommends formulary strategies to maximize clinically appropriate rebate opportunities.
  • Monitors and adheres to contractual requirements associated with Trade Relations.
  • Analyzes client specific financial data including rebates, clinical programs, and benefits data and develops and presents relevant reporting to clients.
  • Benchmarks client financial performance versus similar clients and available industry data.
  • Monitors and interprets contracts to identify MedImpact and client obligations related to rebate financial terms. Tracks performance to determine if contract requirements are being met and develops strategies to address financial shortfalls.
  • Proactively works with client teams to close gaps in client performance including formulary compliance and formulary optimization.  Supports client teams in clarifying MedImpact’s position related to contract disputes.
  • Analyzes very large data sets to proactively identify areas of opportunity including identifying clients that are not optimizing their rebate performance.  Develops and implements strategies to address these opportunities and tracks results.
  • Develops custom and ad hoc reports for clients; interprets and presents information to clients including appropriate recommendations based on the data.
  • Builds strong and collaborative working relationships with other members of the Trade Relations department, Account Team, Financial Analytics Team and other MedImpact departments to deliver value to clients and generate revenue and reduced risk for MedImpact.

Supervisory Responsibilities

No supervisory responsibilities

Client Responsibilities

This is an external client facing position that requires excellent customer service skills and interpersonal communication skills (listening/verbal/written).  One must be able to; Respond promptly to client needs; Solicit client feedback to improve service; Respond to requests for service and assistance from clients; Meet commitments to clients; Manage difficult or emotional client situations.

Qualifications

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Education and/or Experience  

Pharm.D. from an accredited school of pharmacy (or equivalent combination of education (such as Registered Pharmacist (RPh.) and experience) along with 5 + years’ experience in the job duties listed.

Computer Skills

To perform this job successfully, an individual should have good knowledge of Microsoft Office Suite software including Word and Access.  Must have strong Excel skills.

Certificates, Licenses, Registrations

Registered Pharmacist in any US state.

Other Skills and Abilities

Solid working knowledge of PBM industry, healthcare, and government programs. Possess proven leadership skills, excellent communication skills (both verbal and written), analytical and financial reasoning skills. Requires experience in operational application of database applications, accounting, finance, or data analysis.  Demonstrated attention to detail and experience leading quality improvement initiatives. Requires the ability to represent MedImpact at the enterprise level with proper business decisions.

Reasoning Ability

Ability to solve practical problems and deal with a variety of concrete variables in situations where only limited standardization exists. Ability to interpret a variety of instructions furnished in written, oral, diagram, or schedule form.

Mathematical Skills  

Ability to calculate figures and amounts such as discounts, interest, commissions, proportions, and percentages. Ability to work with mathematical concepts such as algebra, probability, and statistical inference. Ability to apply these skills to practical situations.

Language Skills

Ability to read and interpret complex documents such as legal agreements, safety rules, operating and maintenance instructions, and procedure manuals.  Ability to write routine reports and correspondence.  Ability to speak effectively before groups of customers or employees of organization.                 

Competencies To perform the job successfully, an individual should demonstrate the following competencies:

  • Adaptability – Adjusts quickly to evolving situations by integrating new information, remaining flexible, recognizing, and implementing necessary changes and taking advantage of opportunities presented by new developments.
  • Business Knowledge – Demonstrates clear understanding of the nature of the business — its products and services, goals, market, competitors, and challenges. 
  • Clinical Knowledge – Understanding of pharmaceutical products and pharmaceutical products pipeline.
  • Communication -Expresses self clearly and effectively in face-to-face interactions, presentations, and written documents, and employs active listening skills to ensure productive interactions.
  • Decision-making – Gathers input from affected parties and available experts, assesses risks and benefits, and makes timely decisions based on sound reasoning.
  • Influence – Persuades others of the value of an idea or course of action, enlists cooperation and support while maintaining positive work relationships, builds consensus by communicating effectively and demonstrating an understanding of others’ positions, and effectively motivates others to buy into projects and goals.
  • Negotiation – Maintains focus on both the goals and the process of negotiation, asserts own objectives while demonstrating concern for others’ priorities and perspectives, and effectively negotiates for results.
  • Strategic Vision – Formulates and communicates a long-range, big-picture vision, considering both opportunities and challenges, and translates that vision into specific action steps.
  • Relationship Building and Networking – Maintains a network of diverse contacts both inside and outside of the organization, initiates productive collaborations with people in all parts of the organization, makes regular efforts to get to know new people, reaches out for help when appropriate and is available to help others when approached.

Physical Demands

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

While performing the duties of this Job, the employee is regularly required to sit; use hands to finger, handle, or feel and talk or hear. The employee is frequently required to reach with hands and arms. The employee is occasionally required to stand and walk. The employee must occasionally lift and/or move up to 10 pounds. Specific vision abilities required by this job include close vision.

Work Environment

The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Work Location

This position is remote.

Working Hours

This is an exempt level position requiring the incumbent to work the hours required to fully accomplish job responsibilities and reasonably meet deadlines for work deliverables. The individual must have the flexibility to work beyond traditional hours. Work hours may be changed from time to time to meet the needs of the business.  Typical core business hours are Monday through Friday from 8:00am to 5:00pm.

Travel – This position requires occasional domestic travel of up to 5% – 10% of the time. 

The Perks:

  • Medical / Dental / Vision / Wellness Programs
  • Paid Time Off / Company Paid Holidays
  • Incentive Compensation
  • 401K with Company match
  • Life and Disability Insurance
  • Tuition Reimbursement
  • Employee Referral Bonus

To explore all that MedImpact has to offer, and the greatness you can bring to our teams, please submit your resume to www.medimpact.com/careers

MedImpact, is a privately-held pharmacy benefit manager (PBM) headquartered in San Diego,
California. Our solutions and services positively influence healthcare outcomes and expenditures, improving the position of our clients in the market. MedImpact offers high-value solutions to payers, providers and consumers of healthcare in the U.S. and foreign markets.

Equal Opportunity Employer, Male/Female/Disabilities/Veterans

OSHA/ADA:

To perform this job successfully, the successful candidate must be able to perform each essential duty satisfactorily. The requirements listed are representative of the knowledge, skill, and/or ability required.
Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Disclaimer:

The above statements are intended to describe the general nature and level of work being performed by people assigned to this classification. They are not intended to be construed as an exhaustive list of all responsibilities, duties, and skills required of personnel so classified.

Healthcare Disclaimer: The information provided  on Pharmacists.org is for educational and informational purposes only and is not intended to serve as medical advice. Our tools are designed to provide general conversion estimations and should not be used as a substitute for professional medical advice, diagnosis, or treatment. Always seek the advice of your physician, pharmacist, or other qualified health provider with any questions you may have regarding a medical condition or medication. Read More in our Terms of Use.

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