Formulary Strategy Development Director

Elevance Health•Wallingford, CT

32d•Hybrid

About The Position

A proud member of the Elevance Health family of companies, CarelonRx leverages the power of new technologies and a strong, clinical-first lens, to deliver member-centered, lasting pharmacy care. CarelonRx's Pharmaceutical Contract Strategy Organization is looking to hire a Formulary Strategy Development Director. This high-performing individual contributor will play a key role in driving affordability across multiple lines of business (Commercial, Medicaid, Medicare, ASO clients) by partnering with internal and external stakeholders to drive formulary strategy and rebate optimization. This Director will collaborate with cross-functional partners to identify and unlock new value and growth opportunities through the optimization of existing formulary solutions and development of new formulary solutions to meet market needs. Advocating internally and externally to advance CarelonRx’s unique value proposition across multiple formulary product solutions.

Requirements

BA/BS degree in a related field and minimum of 8 years contract negotiation and sales experience; or any combination of education and experience, which would provide an equivalent background.

Nice To Haves

8 years in the healthcare industry with a pharmacy focus and experience working inside a Pharmacy Benefit Manager (PBM), Health Plan, or related pharmacy business in functions that span formulary development, business strategy, clinical strategy, contract negotiation, financial analysis, and client management or sales.
Proven experience and success with formulary strategy development, formulary solution design, and their execution across multiple lines of business.
MBA or PharmD degree and track record of driving business strategy, growth and innovation.
Experience working with pharmaceutical manufacturer contracts as well as pricing, forecasting, trend analysis and financial modeling
Pharmacy Supply chain knowledge including Specialty Pharmacy, Site of Care and Network Solutions.
Strong analytical skills including developing reports and synthesizing data to identify trends
Highly collaborative, comfortable to work across matrix organization on problem resolution, negotiation, consensus building, conflict management, and decision-making.
Customer-focused and dedicated to meeting and exceeding customer expectations.

Responsibilities

Partner with key internal and external stakeholders to drive value and innovation through formulary strategy development and optimization.
Present contract scenarios and opportunities to internal stakeholders and health plan and client decision-makers across multiple lines of business to gain alignment on strategy and implementation.
Ensure that formulary and contract strategy aligns with overall strategic objectives.
Collaborate with internal and external partners to develop and implement future revenue, formulary product portfolio expansion and membership growth initiatives.
Provides consultative support to sales and account management partners, including development of strategies to win new business and retain current clients by increasing rebates and supporting the sales process.
Build solid and collaborative relationships with pharmaceutical manufacturer partners.