Job Description
Formulary Strategy Development Director Location: This role requires associates to be in-office 3 days per week , fostering collaboration and connectivity, while providing flexibility to support productivity and work-life balance. This approach combines structured office engagement with the autonomy of virtual work, promoting a dynamic and adaptable workplace. Willing to consider locations other than those listed. Please note that per our policy on hybrid/virtual work, candidates not within a reasonable commuting distance from the posting location(s) will not be considered for employment, unless accommodation is granted as required by law 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. How you will make an impact: 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. 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. Preferred skills, Capabilities experiences: 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. For candidates working in person or virtually in the below locations, the salary* range for this specific position is $153,560 to $240,810 Location(s): California, Illinois In addition to your salary, Elevance Health offers benefits such as a comprehensive benefits package, incentive and recognition programs, equity stock purchase and 401k contribution (all benefits are subject to eligibility requirements). The salary offered for this specific position is based on a number of legitimate, non-discriminatory factors set by the Company. The Company is fully committed to ensuring equal pay opportunities for equal work regardless of gender, race, or any other category protected by federal, state, and local pay equity laws. The salary range is the range Elevanc