Vice President, Trade Relations – Formulary Strategy

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SmithRx

WebsiteLinkedInAll Job Openings

51 - 200 employees

Founded 2018

💼 Consulting

🛡️ Insurance

🏥 Healthcare

💰 $20M Series B on 2022-03

Consulting • Insurance • Healthcare

SmithRx is a transparent, pass-through pharmacy benefits manager (PBM) that operates independently from insurance companies and pharmacies to align its incentives with self-insured employers and their members. By leveraging modern technology, SmithRx aims to reduce the cost and complexity of pharmacy benefits, ensuring the delivery of effective and low-cost drugs. The company is dedicated to transforming the pharmacy benefits landscape through its flat-rate, transparent pricing model and innovative cost savings programs, which connect members to the lowest cost drugs without the use of spread pricing, rebates, or other tactics. SmithRx's commitment to transparency and superior customer service results in significant savings for employers and a highly satisfactory experience for its members.

📋 Description

• Define and execute SmithRx’s enterprise rebate strategy, formulary management, and clinical criteria • Lead manufacturer negotiations, establish strategic relationships with pharmaceutical manufacturers • Oversee GPO partnerships and administration • Monitor pharmaceutical market dynamics • Provide executive oversight for rebate financial modeling and assessments • Serve as the executive owner of SmithRx’s formulary strategy • Lead P&T Committee and oversee standards for governance • Direct the development of clinical criteria for Utilization Management • Ensure independence from manufacturer influence prioritizing patient health and employer savings • Collaborate with clinical leadership for specialty drugs • Partner with executive peers across various departments

🎯 Requirements

• 12+ years of progressive leadership experience in PBM trade relations, pharmaceutical market access, formulary management, or related clinical strategy roles • Experience across various lines of business: Commercial, Medicare, Medicaid, Exchange • Deep understanding of the PBM ecosystem, drug manufacturer contracting, GPO structures, and the operational differences between traditional rebate aggregators and 100% pass-through PBMs • Proven track record of successfully negotiating complex rebate and value-based contracts with major pharmaceutical manufacturers • Strong grasp of clinical pharmacology, drug pipelines, and evidence-based medicine required to guide P&T committees and clinical criteria development • Strong financial modeling skills with the ability to translate complex rebate structures into lowest-net-cost strategies • PharmD degree is highly preferred; Bachelor’s degree in Business, Finance, or Healthcare Administration combined with extensive industry experience will be considered • Active pharmacist license in good standing is a plus.

🏖️ Benefits

• Highly competitive wellness benefits including Medical, Pharmacy, Dental, Vision, and Life Insurance and AD&D Insurance • Flexible Spending Benefits • 401(k) Retirement Savings Program • Short-term and long-term disability • Discretionary Paid Time Off • Paid Company Holidays • Wellness Benefits • Commuter Benefits • Paid Parental Leave benefits • Employee Assistance Program (EAP) • Well-stocked kitchen in office locations • Professional development and training opportunities