RxBenefits, Inc.
Director, PBM Pricing & Procurement
RxBenefits, Inc., Sioux Falls, South Dakota, United States,
Director, PBM Pricing and Procurement
The Director, PBM Pricing and Procurement is uniquely positioned to ensure the success of relationships and strategic initiatives with PBM and other vendor partners while maintaining the company’s vision, values, strategic plan, and financial objectives. This role will be responsible for the oversight and maintenance of the PBM financial and contractual relationships including RFP and contract negotiations and internal support of client related redlines and RPFs. The ideal candidate exhibits a superior understanding of financial and strategic pharmacy management practices; ability to clearly and effectively communicate with both internal and external Executive Leadership; and effective contract negotiation skills. This role will work closely with cross-functional RxBenefits leaders to drive a client-centric culture of collaboration, advocacy, and execution to deliver upon the financial needs of the market and RxBenefits. The Director, PBM Pricing and Procurement reports directly to the Vice President of PBM Strategic Relations.
Job Responsibilities Include:
Responsible for review and negotiation of current and future PBM Master Service Agreement (MSA) and Amendments.
Participating in legal-to-legal conversations on MSA negotiations.
Own PBM Request for Proposal (RFP) development, negotiation, and review for all PBM relationships.
Work with cross-functional teams to understand requested MSA terms & conditions.
Provide ongoing support and cross functional training, as required, for PBM related pricing strategies including notable changes to pricing optics, terms and conditions and market events.
Collaborate with analytic teams in ensuring financial analysis assumptions are in line with contractual pricing terms and conditions.
Aid in responding to client RPFs based on PBM contractual language.
Support RxBenefits legal in review and response to client ASA & PA redlines.
Assist with various other projects and duties as assigned.
REQUIREMENTS
10+ years of professional work experience in the Pharmacy Benefit Management (PBM) industry
Bachelor’s degree or similar experience
5+ years’ experience negotiating PBM contractual terms and conditions
Experience running PBM RFPs preferred
Strong foundation and understanding of PBM industry and market dynamics
Ability to effectively communicate with internal and external Executive leadership
Strong attention to detail and sense of urgency
Expert interpersonal, communication, and collaborative management skills
Independent critical thinking
Strong team building, relationship management, and project management skills
Ability to perform within a fast paced, rapidly growing organizational environment
Ability to effectively communicate with PBM vendors in a respectful and meaningful manner to maintain positive relationships
Ability to travel to internal/external conferences/meetings when required (
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The Director, PBM Pricing and Procurement is uniquely positioned to ensure the success of relationships and strategic initiatives with PBM and other vendor partners while maintaining the company’s vision, values, strategic plan, and financial objectives. This role will be responsible for the oversight and maintenance of the PBM financial and contractual relationships including RFP and contract negotiations and internal support of client related redlines and RPFs. The ideal candidate exhibits a superior understanding of financial and strategic pharmacy management practices; ability to clearly and effectively communicate with both internal and external Executive Leadership; and effective contract negotiation skills. This role will work closely with cross-functional RxBenefits leaders to drive a client-centric culture of collaboration, advocacy, and execution to deliver upon the financial needs of the market and RxBenefits. The Director, PBM Pricing and Procurement reports directly to the Vice President of PBM Strategic Relations.
Job Responsibilities Include:
Responsible for review and negotiation of current and future PBM Master Service Agreement (MSA) and Amendments.
Participating in legal-to-legal conversations on MSA negotiations.
Own PBM Request for Proposal (RFP) development, negotiation, and review for all PBM relationships.
Work with cross-functional teams to understand requested MSA terms & conditions.
Provide ongoing support and cross functional training, as required, for PBM related pricing strategies including notable changes to pricing optics, terms and conditions and market events.
Collaborate with analytic teams in ensuring financial analysis assumptions are in line with contractual pricing terms and conditions.
Aid in responding to client RPFs based on PBM contractual language.
Support RxBenefits legal in review and response to client ASA & PA redlines.
Assist with various other projects and duties as assigned.
REQUIREMENTS
10+ years of professional work experience in the Pharmacy Benefit Management (PBM) industry
Bachelor’s degree or similar experience
5+ years’ experience negotiating PBM contractual terms and conditions
Experience running PBM RFPs preferred
Strong foundation and understanding of PBM industry and market dynamics
Ability to effectively communicate with internal and external Executive leadership
Strong attention to detail and sense of urgency
Expert interpersonal, communication, and collaborative management skills
Independent critical thinking
Strong team building, relationship management, and project management skills
Ability to perform within a fast paced, rapidly growing organizational environment
Ability to effectively communicate with PBM vendors in a respectful and meaningful manner to maintain positive relationships
Ability to travel to internal/external conferences/meetings when required (
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