Formulary Management Specialist
4 days ago
We are seeking a highly skilled Formulary Management Specialist to join our team at SmithRx. In this role, you will be responsible for developing, maintaining, and optimizing formularies that support lowest net cost strategies, regulatory compliance, and client-specific needs across our book of business.
About the Role:
This is an exciting opportunity to work with cross-functional teams to design and implement formulary and utilization management strategies, ensuring alignment with clinical guidelines, financial goals, and regulatory requirements. The successful candidate will be responsible for research, clinical evaluations, and operational execution of formulary strategies, serving as a subject matter expert in formulary management and drug adjudication processes.
Key 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.
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.
Estimated Salary Range: $120,000 - $180,000 per year.
About SmithRx:
SmithRx is a rapidly growing, venture-backed Health-Tech company dedicated to disrupting the PBM sector by building a next-generation drug acquisition platform driven by cutting-edge technology, innovative cost-saving tools, and best-in-class customer service.
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