Pharmacy Director Formulary & Utilization Management

Riverside Health System • Newport News, VA

7d • $168,300 - $244,050 • Onsite

About The Position

The Director of Pharmacy Formulary & Utilization Management will provide enterprise leadership and strategic oversight for the health system's medication formulary, formulary management system and pharmacy utilization management programs. This position will direct systemwide formulary governance, therapeutic standardization, biosimilar adoption, drug-use optimization, and cost-management strategies in both inpatient and outpatient settings to ensure safe, evidence-based, and fiscally responsible medication use across the integrated delivery network. The Director will partner closely with pharmacy leadership, supply chain, analytics, medical staff, and service lines to drive consistency, financial stewardship, and high-quality medication management.

Requirements

• Bachelors Degree, or higher in Pharmacy (Required)
• 3 years Clinical Pharmacy experience (Required)
• 2 years Leadership or Supervisory experience (Required)
• 1 year PGY-1 Residency (Required)
• Licensed Pharmacist - Virginia Department of Health Professions (VDHP) within 60 Days(Required)
• Board of Pharmacy Specialties (BPS) - Board of Pharmacy Specialties within 2 Years(Required)

Nice To Haves

• 1 year PGY-2 Residency (Preferred)

Responsibilities

• Provides enterprise leadership of the system formulary and formulary management system, directing governance processes, evidence review standards, approval pathways, and systemwide implementation, while co-chairing the P&T Committee to ensure alignment with quality, clinical, and operational priorities
• Leads systemwide utilization management strategies, including development of drug-use criteria, therapeutic substitutions, and step-therapy protocols designed to optimize clinical appropriateness and reduce unwarranted variation
• Oversees high-cost therapeutic management, guiding therapeutic class reviews, formulary monograph development, evidence evaluations, and interdisciplinary collaboration to improve access, care coordination, and value for complex and specialty therapies
• Directs product and medication-use optimization initiatives, ensuring enterprise standardization of medication products, concentrations, and therapeutic interchange programs to enhance safety, efficiency, and consistency across the organization
• Provides pharmacoeconomic leadership, conducting budget impact assessments, ROI analyses, and total-cost-of-care modeling to support formulary decisions and strategic planning for high-cost and emerging therapies
• Identifies and leads systemwide financial management initiatives aimed at reducing drug spend, improving therapeutic value, minimizing waste, and enhancing the financial performance of the pharmacy enterprise in collaboration with finance, reimbursement, and payer strategy teams
• Monitors enterprise medication utilization and financial trends, leveraging analytics and benchmarking to identify opportunities, anticipate market shifts, evaluate medication mix, and deliver executive-level reporting on key indicators.
• Oversees formulary-related EMR integration and clinical decision support, ensuring medication builds, order sets, and CDS tools support safe prescribing, formulary compliance, high-cost drug management, and utilization management policies
• Provides leadership, collaboration, and team oversight, fostering strong relationships with clinicians and operational partners, ensuring clear communication of formulary decisions and medication-use policies, and cultivating a culture of accountability, continuous improvement, and alignment with system priorities.

What This Job Offers

• Job Type: Full-time
• Career Level: Manager