Formulary Business Analyst

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 of:

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

Desired locations: TX, MN, TN, UT, AZ

Job Summary:

SmithRx is seeking a Formulary Business Analyst to join our team. The Formulary Business Analyst will be responsible for providing analytical support for the company's formulary strategy to all stakeholders. By utilizing a data-driven approach, the Formulary Business Analyst will enable the team to make informed, efficient decisions that will drive the business forward in an ever-changing environment. The ideal candidate will have experience in data analysis, formulary management, and experience working with cross-functional teams.

What you will do:

• Synthesizing vast volumes of datasets to analyze formulary changes on products to aid in timely business decisions and actions.
• Reviewing, analyzing, and maintaining formularies and drug lists across multiple systems.
• Ensuring formulary data is accurate across platforms through testing and quality initiatives.
• Operationalizing formulary changes and configuring utilization management edits.
• Analyzing formulary data to support communications of formulary changes and program updates for internal and external partners.
• Evaluating cost savings opportunities using prescription drug data and providing trends in cost savings achieved for customer groups.
• Creating and updating materials and documentation for the Formulary Management Team.
• Responding to system failures and resolving issues on time.
• Partnering with internal stakeholders to analyze and build efficiencies/enhancements in our systems to provide custom outcomes per client requests.
• Performing root-cause analysis to identify issues and opportunities for engineering on product improvements.
• Providing statistics and financial reporting revenue recognition and client payables.
• Creating analytics for the formulary team on prospective and existing pharmaceutical rebate contract opportunities, emerging therapies, and business opportunities.

What you will bring to SmithRx

• A Bachelor's degree in business administration or a related field.
• 5+ years of progressive responsibility in business and technology analysis.
• 2+ years of experience in Pharmacy Benefits Management (PBM) and/or healthcare.
• Experience in formulary management or benefits claims adjudication is highly desired.
• Proficiency in Microsoft SQL server reporting and analysis tools or other business intelligence reporting frameworks.
• Experience with data analysis, programming frameworks, or other end-user reporting programs and creating macros in spreadsheet environments.
• Familiarity with Medispan and/or First Databank drug files is preferred.
• The ability to work both independently and within a team environment.
• Highly detail-oriented with excellent organization and prioritization skills.
• Experience with using and querying large datasets is required.
• Pharmacy Technician Certification is preferred.