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Pharmacy Network Pricing Associate



Plano, TX, USA · Remote
Posted on Saturday, November 18, 2023

Who We Are:

SmithRx is a rapidly growing, venture-backed Health-Tech company. Our mission is to disrupt the expensive and inefficient Pharmacy Benefit Management (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. With hundreds of thousands of members onboarded since 2016, SmithRx has a solution that is resonating with clients all across the country.

We pride ourselves for our mission-driven and collaborative culture that inspires our employees to do their best work. We believe that the U.S healthcare system is in need of transformation, and we come to work each day dedicated to making that change a reality. At our core, we are guided by our company values:

  • Integrity: Do the right thing. Especially when it’s hard.
  • Courage: Embrace the challenge.
  • Together: Build bridges and lift up your colleagues.

Job Summary:

The Pharmacy Network Pricing Associate is responsible for price modeling of reimbursement, assessing Maximum Allowable Cost pricing strategy as well as the execution, implementation, and optimization of current, new and future network or pricing innovation. Assists in creation and maintenance of complex MAC modeling and process development to establish quality assurance, and execution to achieve departmental goals. Work alongside cross functional teams to support the development of reimbursement strategy, execution of network pricing, and perform pharmacy analytics reporting and modeling that fall under the Maximum Allowable Cost (MAC) Management umbrella. Develops capabilities specifically targeted to achieve the efficient and effective application of the company’s products and services toward the achievement of total cost savings. Utilize SQL, Excel, and data visualization tools to aid in performance quantitative and qualitative analysis, financial modeling, and economic forecasting.

What you will do:

  • Streamline processes and models to drive efficiency and accuracy.
  • Financial Modeling and Reporting
  • Provide assistance / coordinate with all Pharmacy Network team members in weekly process tasks. Included but not limited to;
    • Pharmacy pricing appeals - Includes receiving and sending communications from pharmacies and compiling specific data for automated processes to utilize
    • Run weekly automated pricing tasks to ensure pricing process accuracy and implementation
    • Gather input data for weekly process from pricing resources or pharmaceutical data
    • Creating procedural documentation to cover all automation and analytical tasks for audit/compliance needs
    • Review and interpret Pharmacy contracts for ongoing management throughout processes
  • Assist in ongoing MAC management pricing process
  • Desire to excel in data analytics, pricing, process automation, pricing and healthcare financials
  • Desire to be creative and solve complex data analytical problems that assist in business processes
  • Ability to read/write queries and establish workflows in order to offer and implement continued automation and improvement
  • Ability to self-motivate and self-manage daily tasks as this role hybrid (office and remote work).
  • Ability to effectively participate in meetings, accomplish goals and meet timelines. Ability to work well in cross-functional situations, giving clear direction and partnering with other internal departments to reach common goals.
  • Ability to think creatively and challenge the status quo with particular emphasis on developing processes that are both accurate and efficient.
  • Support functional & organizational initiatives as required.
  • Develop, maintain and distribute ad-hoc reports and financial models as needed.
  • Perform other job-related duties as assigned

What you will bring to SmithRx:

  • Bachelor’s Degree or 1-2 Years experience in Pharmacy/Healthcare and/or related field
  • Proficient user or understanding of query languages platforms that assist in day to day automation and procedures. Examples may include Microsoft Suite, SQL, Tableau, Power BI
  • Strong analytical, detail oriented and problem solving skills. Ability to organize and manage multiple priority tasks simultaneously.
  • Problem solving ability in unstructured situations.
  • Mathematical, statistical, computer science, or economic acumen to assist in overall financial brand and generic pricing management
  • Financial Modeling & Reporting
  • Data Management

What SmithRx Offers You:

  • Total Rewards package that includes incentive bonus and stock options
  • Highly competitive wellness benefits including Medical, Pharmacy, Dental, Vision, and Life Insurance
  • Flexible Spending Benefits
  • 401(k) Retirement Savings Program
  • Short-term and long-term disability
  • Discretionary Time Off
  • 13 Paid Holidays
  • Wellness benefits- Spring Health, Gympass, and Headspace
  • Commuter Benefits
  • Paid Parental Leave benefits
  • Employee Assistance Program (EAP)
  • Well-stocked kitchen in office locations
  • Professional development and training opportunities