Rebate Analyst, Financial Operations

CVS Health•Irving, TX

1d•Hybrid

About The Position

We’re building a world of health around every individual — shaping a more connected, convenient and compassionate health experience. At CVS Health®, you’ll be surrounded by passionate colleagues who care deeply, innovate with purpose, hold ourselves accountable and prioritize safety and quality in everything we do. Join us and be part of something bigger – helping to simplify health care one person, one family and one community at a time. Position Summary As a Financial Operations Analyst, you will perform a critical role in the analysis of Medicare and Commercial formularies to determine client eligibility for rebates with respect to manufacturer contractual guidelines. To support accurate rebate invoicing, you will be responsible for meeting manufacturer contractual obligations by completing a thorough interpretation of the contract and thorough analysis of formulary and plan design data on a monthly/quarterly basis. In this role, you will support overall team production by assisting during pharmaceutical disputes and collaborating on day-day tasks such as: Conducting specific formulary research to support Rebate forecasting and underwriting teams during the manufacturing contract negotiating process; Clinical Managers and Client Support Services as they work with clients in the development of formularies; Rebate audit team as questions arise on audits by manufacturers and clients. Adhering to quality control process in review of formulary rebate eligibility and contributing to enhancing our quality control processes. Review contract language necessary to support formulary rebate contracts. Maintaining filings for Caremark and client specific formulary publications. Exhibiting strong analytical skills working with contract language Demonstrating flexibility and adaptability to take on additional tasks to support the department. Very light travel, if any, may be requested to support business activity.

Requirements

1+ year of professional experience or internships.
Strong reading comprehension skills.
Capability to communicate details clearly and accurately.

Nice To Haves

Experience in a formulary, health care, contracting, or similar role
Caremark Formulary and/or Rebate knowledge beneficial.
Experience with Caremark business systems, claims adjudication, formulary, drug, and client systems with an emphasis on the RxClaim adjudication platform beneficial.
Medicare knowledge beneficial.
Ability to work independently and with people across functional area.
Ability to work in a hybrid team environment.

Responsibilities

Perform a critical role in the analysis of Medicare and Commercial formularies to determine client eligibility for rebates with respect to manufacturer contractual guidelines.
Meet manufacturer contractual obligations by completing a thorough interpretation of the contract and thorough analysis of formulary and plan design data on a monthly/quarterly basis.
Support overall team production by assisting during pharmaceutical disputes and collaborating on day-day tasks.
Conduct specific formulary research to support Rebate forecasting and underwriting teams during the manufacturing contract negotiating process.
Support Clinical Managers and Client Support Services as they work with clients in the development of formularies.
Support Rebate audit team as questions arise on audits by manufacturers and clients.
Adhere to quality control process in review of formulary rebate eligibility and contribute to enhancing our quality control processes.
Review contract language necessary to support formulary rebate contracts.
Maintain filings for Caremark and client specific formulary publications.
Exhibit strong analytical skills working with contract language.
Demonstrate flexibility and adaptability to take on additional tasks to support the department.