Formulary Management Pharmacist

Summary

Join SmithRx, a rapidly growing Health-Tech company, as a Formulary Management Pharmacist. You will play a key role in developing, maintaining, and optimizing formularies to minimize costs, ensure regulatory compliance, and meet client needs. This position involves collaboration with cross-functional teams to design and implement formulary and utilization management strategies. You will conduct clinical and financial reviews of new drugs, analyze data to identify cost savings, and support Pharmacy & Therapeutics committees. The ideal candidate possesses a PharmD degree, managed care experience, and expertise in formulary management. SmithRx offers a competitive benefits package including health insurance, retirement plan, paid time off, and professional development opportunities.

Requirements

• PharmD degree required
• Minimum of 2 years in managed care/PBM with formulary management/operational experience, or completion of a residency in managed care
• Demonstrated expertise in managed care and pharmacy benefit management practices, including utilization management or clinical programs
• Proficiency in First DataBank and/or Medispan drug file systems
• Advanced skills in MS Office applications, particularly Access and Excel
• Strong project and program management skills, with the ability to prioritize and manage multiple tasks in a dynamic environment
• Critical thinking, analytical problem-solving, and independent judgment
• Comprehensive clinical knowledge of therapeutic drug use and formulary practices
• Excellent interpersonal, written, and verbal communication skills
• Ability to thrive in a demanding and constantly evolving corporate environment

Responsibilities

• Develop clinically sound utilization management tools to support low-net-cost formularies
• Strategize and implement client-specific formulary and utilization management solutions
• Maintain and ensure accuracy of drug formularies across platforms through quality assurance and testing
• Conduct clinical and financial reviews of new drug products and formulary strategies, considering rebate compliance, market trends, and clinical guidelines
• Analyze drugs and drug classes to recommend formulary positioning and cost-effective strategies
• Analyze claims data to identify trends, cost savings opportunities, and areas for intervention
• Provide data-driven insights to enhance formulary strategies and optimize healthcare costs
• Support the evaluation of pipeline drugs and their potential formulary impact
• Coordinate activities for Pharmacy & Therapeutics (P&T) committees, including drug reviews and formulary updates
• Serve as a clinical and formulary expert for internal teams and external partners
• Develop and update clinical marketing materials and formulary communications for various audiences
• Work closely with operations and implementation teams to execute client needs and program requirements

Benefits

• Highly competitive wellness benefits including Medical, Pharmacy, Dental, Vision, and Life Insurance and AD&D Insurance
• Flexible Spending Benefits
• 401(k) Retirement Savings Program
• Short-term and long-term disability
• Discretionary Paid Time Off
• 12 Paid Holidays
• Wellness Benefits
• Commuter Benefits
• Paid Parental Leave benefits
• Employee Assistance Program (EAP)
• Well-stocked kitchen in office locations
• Professional development and training opportunities