What are the responsibilities and job description for the Pharmacy Benefits Analyst position at Stephens Default?
ESSENTIAL DUTIES AND RESPONSIBILITIES
- Conduct and lead client-facing meetings to review drug spend and pharmacy benefit strategies effectively.
- Present analytical findings and actionable insights in a clear and professional manner.
- Develop and deliver compelling presentations to clients and internal stakeholders, focusing on pharmacy benefit program evaluations and solutions.
- Regularly travel to client locations and industry events as needed.
- Consult and assist clients with navigating the maze of pharmacy benefits and establish a cost-effective pharmacy benefits solution that best fits their corporate needs.
- Provide implementation and review of performance guarantees, retail pharmacy auditing, fraud, waste and abuse oversight and member eligibility are all additional areas of vulnerability to address.
- Use an extensive and proprietary RFP process that reveals the true net cost differences between PBM applicants and to ensure that the contractual pricing and clinical edits are competitive with the market.
- Consult and Implement on evidence-based risk management – as needed for pharmacy plans using patient preferences, clinician experience and the best evidence to weigh the benefits and risks, inconvenience and costs to bring the best value to the patient and the health plan.
- Consult and Implement Management Solutions - including Specialty Drug Management, Medication Therapy Management, and Formulary Management.
- Assist in creating pharmacy benefit carve-out to ensure transparent pricing and agreement direct with the PBM providing the service since direct contracting brings the most transparency to the client.
- Perform any other related duties as required or assigned.
EDUCATION AND/OR EXPERIENCE
- Professional degree: PharmD, J.D., Ph.D., M.D., etc.
- 2 years of related experience and/or training.
- Equivalent combination of education and experience.
