340B Senior Business Analyst-Pharmacy Department

University of Iowa•Iowa City, IA

2d•Hybrid

About The Position

The University of Iowa Pharmaceutical Department is looking for a Senior Business Analyst to join our team! The 340B Senior Business Analyst maintains and improves conformity with 340B drug pricing program as well as identify and quantify strategies to optimize pharmacy purchasing opportunities. This position will work closely with the pharmacy manager to design and complete audits to assure operational compliance for the 340B program. Additionally, this position will support monthly financial analysis activities, financial analysis of new pharmacy or clinic service initiatives, financial analysis of expense reduction opportunities, budget projections, staff support, and 340B program monitoring and auditing related to other regulatory expectations and financial goals. This position is eligible for a combination of remote work and in-person (hybrid) work within Iowa. To be eligible for the hybrid remote work option, staff must be working in the position for a minimum of 6 months, must have successfully completed all training requirements, and must be meeting or exceeding expectations as assessed in a formal performance review or by leadership. A work arrangement form will be required to be completed prior to the start of remote work. Per policy, work arrangements will be reviewed annually, and must comply with the remote work program and related policies and employee travel policy when working at a remote location.

Requirements

Bachelor’s degree in finance, business management, legal, compliance, or other degree related to data/business analytics or equivalent combination of education and experience.
Registration with Iowa Board of Pharmacy as Pharmacy Support Person within thirty (30) days of employment.
Minimum of 5 years’ experience in data management, including analytics and auditing.
Strong analytical and creative critical thinking skills.
Proficient in MS Office Suite with an emphasis on Microsoft Excel.
Excellent written and verbal communication skills.
Ability to manage multiple concurrent projects and objectives and prioritize time allocation.
Ability to provide and accept ideas and suggestions in a constructive and helpful manner.
Excellent interpersonal skills, creating positive working relationships with team members including healthcare providers, vendors, supply chain staff and pharmacy staff.

Nice To Haves

Knowledge and/or experience with PeopleSoft, Epic, McKesson Connect, Macro Helix™, and Wellpartner.
Experience at an academic health care center.
Demonstrated knowledge of 340B drug pricing program.
Experience with supply chain/inventory purchasing.
Experience with compliance or financial auditing.
Ability to effectively multi-task, keeping multiple initiatives moving forward simultaneously.
Previous pharmacy experience.

Responsibilities

Supports the maintenance of the pharmacy split billing software.
Ensures compliance with HRSA and OPA rules and regulations surrounding the 340B program.
Maintains knowledge of 340B program legislation and policy changes from HRSA and OPA.
Assists with updating policies and procedures and providing education to staff based on new regulatory changes, internal needs, and best practices.
Evaluates operations, investigates concerns, and audits contract pharmacy, internal pharmacies, and mixed-use settings.
Evaluates contract pharmacies and internal pharmacies for cost savings opportunities.
Analyze data, document audits, and recommend process designs to improve financial performance of the 340B program.
Develops and monitors dashboards and longitudinal monitoring tools to track financial performance and compliance performance for retail, mixed use, and/or contract pharmacy initiatives.
Provides financial analysis for future contract pharmacy business opportunities.
Use data analysis to create cost-benefit analysis of 340B related business opportunities including, but not limited to opening new retail sites, relocation/reclassification of clinics, formulary changes, and payer changes.
Identifies compliance risks, recommends avoidance strategies, and implements 340B best practices.
Attend webinars and 340B related professional meetings to compare practices with peers resulting in recommending and implementing best practices at UI Health Care.
Using data analysis, participates in decision making process for issues impacting 340B program.
Assists with implementation of new contract pharmacies including third party administrator implementation, prescription auditing, purchase auditing, and financial monitoring.
Assists with implementation of new UI Health Care child sites including third party administrator implementation, prescription auditing, purchase auditing, and financial monitoring.
Lead business process improvement initiatives related to 340B operations, contract pharmacy administration, and pharmacy purchasing systems.
Coordinate complex multi-disciplinary initiatives involving pharmacy, finance, IT, supply chain, vendors, and compliance stakeholders.
Independently develops data driven recommendations to support operational, financial, compliance, and strategic decision making
Completes contract pharmacy financial analysis activities to support mid-month and month end financial tracking to support the Finance Department and pharmacy budgeting processes.
Communicates routinely with Finance Department regarding contract pharmacy profitability and monthly contract pharmacy financial performance.
Monitors contract pharmacy arrangements to ensure receipt of fees appropriately.
Collaborates with pharmacy operations supervisor to create contract pharmacy budget projections.
Provide data analysis for year-end 340B Report Card.
Monitors purchasing, replenishment, and invoicing of all drug purchases including WAC, GPO, and 340B accounts.
Completes internal audits on a routine basis and assists with management of annual independent 340B audit.
Responsible for appropriately communicating project status and resolving issues.
Identifies operational and financial concerns and determines which issues to escalate to technical support staff associated with vendors and third-party administrators and communicates with the support staff.
Evaluates functionality of new and existing software and vendor tools to assist in developing operational and financial improvements related to 340B program.
Creates and maintains positive relationships with purchasing team, finance team, IT team, contract pharmacies, and associated vendors.
Serve as a liaison to support communication between pharmacy team, IT team and contract pharmacy partners to troubleshoot and resolve problems.
Participates in problem solving and other customer service-related duties.
Supports the functions of independent auditors including HRSA auditors.
Provides complex user support to pharmacy staff, finance staff, and contract pharmacy partners for concerns related to all third-party administrator platforms.
Provide consultation to third party administrator partners and other 340B covered entities to develop problem solving strategies for emerging challenges and changes to the 340B program.
Creates tools to efficiently analyze substantial amounts of utilization, purchase, and financial data.
Process detailed information with excellent accuracy.
Assists with interviewing and training of new 340B staff members.
Advise and support project design work of senior business analysts.
Assists with functional supervision, training, and project guidance for students.
Audits other areas and assists with maintaining other regulatory compliances.