Rebate Reconciliation Analyst

CVS Health • Northbrook, IL

23h

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 The Rebate Reconciliation Analyst position will primarily be engaged in rebate reconciliation activities, payment analysis, dispute resolution, reserve analysis and other related financial analyses. This includes working closely with internal partners such as Trade Relations / Legal / Accounting and external partners such as Pharmaceutical Manufacturers The successful candidate will possess the following skills: Excellent problem solving skills. Detail oriented and proven analytical skills are necessary with the ability to organize and prioritize workloads and meet strict deadlines. Ability to handle basic to intermediate data manipulation and analysis Excellent written and oral communication skills are essential as this position interfaces with various levels within the organization as well as with our external pharmaceutical company counterparts. As a member of the team, you will help drive value for our clients by reducing their overall drug spend. Our organization is focused on making quality care more affordable, accessible, simple, and seamless. Together, we are committed to helping people on their path to better health.

Requirements

• 6+ months years financial or analytical experience.
• Intermediate level Excel Skills including 6+ months experience

Nice To Haves

• Experience working in a dynamic, fast-paced environment.
• Experience with contract administration, financial and / or data analysis, data-mining, cash reconciliations, and complex processes is beneficial.
• PBM or pharmaceutical manufacturer experience and knowledge of pharmaceutical products preferred.
• Contract interpretation experience is preferred

Responsibilities

• Review and comprehend all contract terms applicable to the Reconciliation function
• Track and apply payments due from pharmaceutical manufacturers
• Identify any late payments and request late fee billing as required by contract
• Manipulate and Analyze payment data from pharmaceutical manufacturers
• Reconcile payment data received with Invoiced amount to identify all items disputed by pharmaceutical manufacturers
• Analyze and research all variances and disputed items and determine whether to accept or reject disputes
• Communicate with pharmaceutical manufacturers regarding variances and disputes
• Update internal dispute tracking data file on a monthly basis
• Perform analysis of required reserves on a monthly basis
• Investigate and respond to questions/inquiries regarding the status of open balances
• Ability to handle basic to intermediate data manipulation and analysis

Benefits

• Affordable medical plan options, a 401(k) plan (including matching company contributions), and an employee stock purchase plan.
• No-cost programs for all colleagues including wellness screenings, tobacco cessation and weight management programs, confidential counseling and financial coaching.
• Benefit solutions that address the different needs and preferences of our colleagues including paid time off, flexible work schedules, family leave, dependent care resources, colleague assistance programs, tuition assistance, retiree medical access and many other benefits depending on eligibility.

What This Job Offers

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