AbbVie
Finance Director, Center of Excellence
AbbVie, Libertyville, Illinois, United States, 60092
Company Description
AbbVie's mission is to discover and deliver innovative medicines and solutions that solve serious health issues today and address the medical challenges of tomorrow. We strive to have a remarkable impact on people's lives across several key therapeutic areas – immunology, oncology, neuroscience, and eye care – and products and services in our Allergan Aesthetics portfolio. For more information about AbbVie, please visit us at www.abbvie.com. Follow @abbvie on X, Facebook, Instagram, YouTube, LinkedIn and Tik Tok (https://www.tiktok.com/@abbvie) .
Job Description
The 340B Drug Pricing program has become a critical issue impacting AbbVie’s business. Originally designed to help safety-net hospitals and clinics give better care to underserved communities, it has now grown exponentially, and become distorted by exploitation and abuse. Over the past few years, AbbVie has implemented important strategies and policy changes to tackle this growth and abuse. However, with the impact on AbbVie’s portfolio expected to exceed $10B gross sales in 2025 and program complexity continuing to increase, the time has come for a more dedicated, strategically resourced approach.
Therefore, AbbVie has established a high profile, 340B Center of Excellence (COE), that brings together a team of experts who will utilize analytics and insights to drive strategy, proactively address the growth of 340B and create new solutions to the industrywide abuse within the program. COE leaders will work with Government Affairs and Legal to develop longer-term solutions and shape reforms while simultaneously collaborating with essential partners, including the Marketing, Finance, Market Access, Public Affairs and other key partners to deliver meaningful business solutions and impact.
The Finance Director, 340B COE is a key role focused on coordinating with the multiple organizational stakeholders identified above, as well as coordinating with multiple pricing stakeholders (Commercial Contracting, Medicaid, Price Forecasting, Price Accounting). Additionally, the Finance Director, 340B COE will drive establishment of standardized reporting regarding duplicate discount identification and mitigation owned within Pricing, develop a deep understanding of data flows required to ensure minimal revenue leakage, and serve as the key Finance subject matter expert dedicated to 340B at an enterprise level. mination, and 340B entity eligibility validation policy and processes.
Primary responsibilities for this leadership position include, but are not limited to:
Build a 340B Center of Excellence capability within the Pricing team to act as a conduit between the 340B COE to understand evolving policy and mitigation tactics being explored by the organization and throughout the industry.
Drive improvement of current processes to eliminate 340B duplicate discounts (Medicaid, Commercial, Medicare), CP Policy, CE eligibility, etc.) while minimizing organizational risk / exposure.
Establish new reporting capabilities to assess effectiveness of 340B duplicate discount efforts across entire Pricing organization. Monitor and analyze financial performance, preparing regular reports and presenting findings to senior management and stakeholders
Drive build-out of enterprise wide 340B strategies and mitigation assumptions for LRP, Plan, and LBE financial planning cycles as part of the Price Forecasting assumptions.
Ensure a high level of cross-functional coordination and strategic/tactical planning through ongoing communications as well as contributing to a positive team culture. Infuse AbbVie Ways of Working in day-to-day leadership and management of the 340B mitigation efforts.
In partnership with the 340B COE, monitor the external 340B environment for scrubbing and 340B eligibility trends. Coordinate financial data for business cases, consider sensitivities and present to executive leadership.
In coordination with the 340B COE, develop new 340B site eligibility vetting process and oversee creation of ongoing capability and platform. Collaborate with Legal, Govt. Pricing, and Trade team to ensure integration with systems and formal Covered Entity communication.
Refine business and financial 340B metrics to drive improvements and efficiencies.
Oversee vendors and contracts related to 340B duplicate discount scrubbing (Kalderos, BRG, IQVIA, etc.) to establish and maintain an optimal AbbVie ecosystem capable of flexing quickly to respond to rapid changes in the legislative and policy environment.
Support analyses and reporting to support Legal and Govt. Affairs policy related activities.
Build a robust reporting, KPI tracking and measurement protocol to validate 340B program success and hold external vendors accountable for program operations. Develop accurate 340B forecasting by brand to inform brand Finance financial planning and reporting.
Develop and foster robust internal relationships with other key stakeholders, including but not limited to the 340B COE, Pricing stakeholders, Market Access/Trade, Employer Teams, Patient Services, MABI, etc.
Qualifications
Requires minimum of a Bachelor’s Degree, Master’s Degree a plus.
A minimum of 12 years in the healthcare industry with significant financial, reporting, forecasting and modeling experience within the pharmaceutical or healthcare industry.
Knowledge of US Pricing / 340B flows strongly preferred.
Candidates should have working knowledge of the compliance and regulatory environment for manufacturers in the pharmaceutical space.
Skills/Knowledge Required:
Possesses a curious and persistent mindset, comfortable in ambiguity.
Ability to simplify the complex and identify what’s is essential
Demonstrated ability to manage multiple projects in fast-paced, entrepreneurial environment.
Analytical and modeling expertise, financial acumen, ability to see, visualize and tell a story
Ability to influence across functions to gain consensus on solutions.
Excellent leadership, management and organizational skills, along with problem solving, conflict resolution and team building.
Ability to effectively plan, prioritize, execute, follow up and anticipate problems.
Ability to lead across multiple functions (sales, managed healthcare, trade, marketing).
Additional Information
Applicable only to applicants applying to a position in any location with pay disclosure requirements under state or local law:
The compensation range described below is the range of possible base pay compensation that the Company believes in good faith it will pay for this role at the time of this posting based on the job grade for this position. Individual compensation paid within this range will depend on many factors including geographic location, and we may ultimately pay more or less than the posted range. This range may be modified in the future.
We offer a comprehensive package of benefits including paid time off (vacation, holidays, sick), medical/dental/vision insurance and 401(k) to eligible employees.
This job is eligible to participate in our short-term incentive programs.
This job is eligible to participate in our long-term incentive programs
Note: No amount of pay is considered to be wages or compensation until such amount is earned, vested, and determinable. The amount and availability of any bonus, commission, incentive, benefits, or any other form of compensation and benefits that are allocable to a particular employee remains in the Company's sole and absolute discretion unless and until paid and may be modified at the Company’s sole and absolute discretion, consistent with applicable law.
AbbVie is an equal opportunity employer and is committed to operating with integrity, driving innovation, transforming lives, serving our community and embracing diversity and inclusion. It is AbbVie’s policy to employ qualified persons of the greatest ability without discrimination against any employee or applicant for employment because of race, color, religion, national origin, age, sex (including pregnancy), physical or mental disability, medical condition, genetic information, gender identity or expression, sexual orientation, marital status, status as a protected veteran, or any other legally protected group status.
US & Puerto Rico only - to learn more, visit https://www.abbvie.com/join-us/equal-employment-opportunity-employer.html
US & Puerto Rico applicants seeking a reasonable accommodation, click here to learn more:
https://www.abbvie.com/join-us/reasonable-accommodations.html
Salary: $151,500 - $288,000
AbbVie's mission is to discover and deliver innovative medicines and solutions that solve serious health issues today and address the medical challenges of tomorrow. We strive to have a remarkable impact on people's lives across several key therapeutic areas – immunology, oncology, neuroscience, and eye care – and products and services in our Allergan Aesthetics portfolio. For more information about AbbVie, please visit us at www.abbvie.com. Follow @abbvie on X, Facebook, Instagram, YouTube, LinkedIn and Tik Tok (https://www.tiktok.com/@abbvie) .
Job Description
The 340B Drug Pricing program has become a critical issue impacting AbbVie’s business. Originally designed to help safety-net hospitals and clinics give better care to underserved communities, it has now grown exponentially, and become distorted by exploitation and abuse. Over the past few years, AbbVie has implemented important strategies and policy changes to tackle this growth and abuse. However, with the impact on AbbVie’s portfolio expected to exceed $10B gross sales in 2025 and program complexity continuing to increase, the time has come for a more dedicated, strategically resourced approach.
Therefore, AbbVie has established a high profile, 340B Center of Excellence (COE), that brings together a team of experts who will utilize analytics and insights to drive strategy, proactively address the growth of 340B and create new solutions to the industrywide abuse within the program. COE leaders will work with Government Affairs and Legal to develop longer-term solutions and shape reforms while simultaneously collaborating with essential partners, including the Marketing, Finance, Market Access, Public Affairs and other key partners to deliver meaningful business solutions and impact.
The Finance Director, 340B COE is a key role focused on coordinating with the multiple organizational stakeholders identified above, as well as coordinating with multiple pricing stakeholders (Commercial Contracting, Medicaid, Price Forecasting, Price Accounting). Additionally, the Finance Director, 340B COE will drive establishment of standardized reporting regarding duplicate discount identification and mitigation owned within Pricing, develop a deep understanding of data flows required to ensure minimal revenue leakage, and serve as the key Finance subject matter expert dedicated to 340B at an enterprise level. mination, and 340B entity eligibility validation policy and processes.
Primary responsibilities for this leadership position include, but are not limited to:
Build a 340B Center of Excellence capability within the Pricing team to act as a conduit between the 340B COE to understand evolving policy and mitigation tactics being explored by the organization and throughout the industry.
Drive improvement of current processes to eliminate 340B duplicate discounts (Medicaid, Commercial, Medicare), CP Policy, CE eligibility, etc.) while minimizing organizational risk / exposure.
Establish new reporting capabilities to assess effectiveness of 340B duplicate discount efforts across entire Pricing organization. Monitor and analyze financial performance, preparing regular reports and presenting findings to senior management and stakeholders
Drive build-out of enterprise wide 340B strategies and mitigation assumptions for LRP, Plan, and LBE financial planning cycles as part of the Price Forecasting assumptions.
Ensure a high level of cross-functional coordination and strategic/tactical planning through ongoing communications as well as contributing to a positive team culture. Infuse AbbVie Ways of Working in day-to-day leadership and management of the 340B mitigation efforts.
In partnership with the 340B COE, monitor the external 340B environment for scrubbing and 340B eligibility trends. Coordinate financial data for business cases, consider sensitivities and present to executive leadership.
In coordination with the 340B COE, develop new 340B site eligibility vetting process and oversee creation of ongoing capability and platform. Collaborate with Legal, Govt. Pricing, and Trade team to ensure integration with systems and formal Covered Entity communication.
Refine business and financial 340B metrics to drive improvements and efficiencies.
Oversee vendors and contracts related to 340B duplicate discount scrubbing (Kalderos, BRG, IQVIA, etc.) to establish and maintain an optimal AbbVie ecosystem capable of flexing quickly to respond to rapid changes in the legislative and policy environment.
Support analyses and reporting to support Legal and Govt. Affairs policy related activities.
Build a robust reporting, KPI tracking and measurement protocol to validate 340B program success and hold external vendors accountable for program operations. Develop accurate 340B forecasting by brand to inform brand Finance financial planning and reporting.
Develop and foster robust internal relationships with other key stakeholders, including but not limited to the 340B COE, Pricing stakeholders, Market Access/Trade, Employer Teams, Patient Services, MABI, etc.
Qualifications
Requires minimum of a Bachelor’s Degree, Master’s Degree a plus.
A minimum of 12 years in the healthcare industry with significant financial, reporting, forecasting and modeling experience within the pharmaceutical or healthcare industry.
Knowledge of US Pricing / 340B flows strongly preferred.
Candidates should have working knowledge of the compliance and regulatory environment for manufacturers in the pharmaceutical space.
Skills/Knowledge Required:
Possesses a curious and persistent mindset, comfortable in ambiguity.
Ability to simplify the complex and identify what’s is essential
Demonstrated ability to manage multiple projects in fast-paced, entrepreneurial environment.
Analytical and modeling expertise, financial acumen, ability to see, visualize and tell a story
Ability to influence across functions to gain consensus on solutions.
Excellent leadership, management and organizational skills, along with problem solving, conflict resolution and team building.
Ability to effectively plan, prioritize, execute, follow up and anticipate problems.
Ability to lead across multiple functions (sales, managed healthcare, trade, marketing).
Additional Information
Applicable only to applicants applying to a position in any location with pay disclosure requirements under state or local law:
The compensation range described below is the range of possible base pay compensation that the Company believes in good faith it will pay for this role at the time of this posting based on the job grade for this position. Individual compensation paid within this range will depend on many factors including geographic location, and we may ultimately pay more or less than the posted range. This range may be modified in the future.
We offer a comprehensive package of benefits including paid time off (vacation, holidays, sick), medical/dental/vision insurance and 401(k) to eligible employees.
This job is eligible to participate in our short-term incentive programs.
This job is eligible to participate in our long-term incentive programs
Note: No amount of pay is considered to be wages or compensation until such amount is earned, vested, and determinable. The amount and availability of any bonus, commission, incentive, benefits, or any other form of compensation and benefits that are allocable to a particular employee remains in the Company's sole and absolute discretion unless and until paid and may be modified at the Company’s sole and absolute discretion, consistent with applicable law.
AbbVie is an equal opportunity employer and is committed to operating with integrity, driving innovation, transforming lives, serving our community and embracing diversity and inclusion. It is AbbVie’s policy to employ qualified persons of the greatest ability without discrimination against any employee or applicant for employment because of race, color, religion, national origin, age, sex (including pregnancy), physical or mental disability, medical condition, genetic information, gender identity or expression, sexual orientation, marital status, status as a protected veteran, or any other legally protected group status.
US & Puerto Rico only - to learn more, visit https://www.abbvie.com/join-us/equal-employment-opportunity-employer.html
US & Puerto Rico applicants seeking a reasonable accommodation, click here to learn more:
https://www.abbvie.com/join-us/reasonable-accommodations.html
Salary: $151,500 - $288,000