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Formulary Operations Specialist



Posted on Saturday, April 20, 2024

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: Always operate with honesty and transparency so we earn the trust of our clients.
  • Courage: Demonstrate the courage needed to take on a broken industry and continuously improve what we offer to optimize health outcomes.
  • Together: Foster a collaborative and inclusive environment that values teamwork, respect, and open communication, and encourages creativity and diversity of thought.

Job Summary:

The Formulary Operations Specialist is responsible for the operationalization of the SmithRx formularies and works closely with clinicians to ensure a clinically sound, low net cost formulary strategy. Core functions of this role include: applying formulary changes across systems, building formulary programs within the adjudication system, communicating negative changes with internal and external partners and leading testing initiatives. The Formulary Operations Specialist is the subject matter expert in the company of formulary operations.

What you will do:

  • Serves as an expert in formulary management operations and adjudication systems
  • Maintains formularies and drug lists across multiple systems
  • Operationalizes formulary changes and configures utilization management edits
  • Supports communications of formulary changes and program updates for internal and external partners
  • Creates and updates clinical marketing materials
  • Responds to system failures and resolves issues in a timely manner
  • Document and develop workflows, policies and procedures
  • Works closely with engineering team on claim adjudication enhancements

What you will bring to SmithRx:

  • 2-4+ years PBM (Pharmacy Benefits Management) or formulary management experience
  • Knowledge of Clinical Pharmacy Formularies, Drug Lists and pharmacy programs.
  • Familiarity with Medispan and /or First Databank drug files
  • Strong proficiency Excel and other MS Office tools
  • Ability to work both independently and within a team environment
  • Highly detail-oriented with excellent organization and prioritization skills
  • Pharmacy Technician Certification preferred
  • Project Management Certification preferred

What SmithRx Offers You:

  • 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