Formulary Management Pharmacist - SmithRx

Who We Are:

SmithRx is a rapidly growing, venture-backed Health-Tech company.  Our mission is to disrupt the expensive and inefficient Pharmacy Benefit Management (PBM) sector by building a next-generation drug acquisition platform driven by cutting edge technology, innovative cost saving tools, and best-in-class customer service.  With hundreds of thousands of members onboarded since 2016, SmithRx has a solution that is resonating with clients all across the country.

We pride ourselves for our mission-driven and collaborative culture that inspires our employees to do their best work. We believe that the U.S healthcare system is in need of transformation, and we come to work each day dedicated to making that change a reality. At our core, we are guided by our company values:

• Integrity: Always operate with honesty and transparency so we earn the trust of our clients.
• Courage: Demonstrate the courage needed to take on a broken industry and continuously improve what we offer to optimize health outcomes.
• Together: Foster a collaborative and inclusive environment that values teamwork, respect, and open communication, and encourages creativity and diversity of thought.

Job Summary:

The Formulary Management Pharmacist is integral to developing, maintaining, and optimizing formularies that support lowest net cost strategies, regulatory compliance, and client-specific needs across the SmithRx book of business. This role collaborates with cross-functional teams to design and implement formulary and utilization management strategies, ensuring alignment with clinical guidelines, financial goals, and regulatory requirements. The Formulary Management Pharmacist is responsible for research, clinical evaluations, and operational execution of formulary strategies, serving as a subject matter expert in formulary management and drug adjudication processes.

What you will do:

Formulary and Utilization Management:

• Develop clinically sound utilization management tools to support low-net-cost formularies.
• Strategize and implement client-specific formulary and utilization management solutions.
• Maintain and ensure accuracy of drug formularies across platforms through quality assurance and testing.
• Conduct clinical and financial reviews of new drug products and formulary strategies, considering rebate compliance, market trends, and clinical guidelines.
• Analyze drugs and drug classes to recommend formulary positioning and cost-effective strategies.

Data Analysis and Insights:

• Analyze claims data to identify trends, cost savings opportunities, and areas for intervention.
• Provide data-driven insights to enhance formulary strategies and optimize healthcare costs.

Pipeline Management and P&T Support:

• Support the evaluation of pipeline drugs and their potential formulary impact.
• Coordinate activities for Pharmacy & Therapeutics (P&T) committees, including drug reviews and formulary updates.

Communication and Collaboration:

• Serve as a clinical and formulary expert for internal teams and external partners.
• Develop and update clinical marketing materials and formulary communications for various audiences.
• Work closely with operations and implementation teams to execute client needs and program requirements.

What you will bring to SmithRx:

• PharmD degree required.
• Minimum of 2 years in managed care/PBM with formulary management/operational experience, or completion of a residency in managed care.
• Demonstrated expertise in managed care and pharmacy benefit management practices, including utilization management or clinical programs.
• Proficiency in First DataBank and/or Medispan drug file systems.
• Advanced skills in MS Office applications, particularly Access and Excel.
• Strong project and program management skills, with the ability to prioritize and manage multiple tasks in a dynamic environment.
• Critical thinking, analytical problem-solving, and independent judgment.
• Comprehensive clinical knowledge of therapeutic drug use and formulary practices.
• Excellent interpersonal, written, and verbal communication skills.
• Ability to thrive in a demanding and constantly evolving corporate environment.

What SmithRx Offers You: 

• 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 
• 12 Paid Holidays
• Wellness Benefits
• Commuter Benefits 
• Paid Parental Leave benefits
• Employee Assistance Program (EAP)
• Well-stocked kitchen in office locations
• Professional development and training opportunities