Formulary Operations Pharmacist – Medicare
Capital Rx
Position Summary:
The Formulary Operations Pharmacist – Medicare is responsible for providing operational support for the evaluation, implementation, and maintenance of Medicare Part D formularies and utilization management. This individual supports creation and maintenance of formulary and utilization management lists, preparation of CMS formulary files and member formulary drug lists, preparation and review of updates for implementation, and other formulary and utilization management related tasks and processes. The role requires strong cross functional collaboration and communication skills, and an understanding of Medicare Part D formulary management processes and related CMS rules and regulations.
Position Responsibilities:
- Maintain standard and custom formularies for the Medicare line of business in accordance with CMS Medicare guidelines
- Support development, implementation, maintenance, and quality control of Medicare Part D formularies, utilization management, and clinical adjudication drug lists
- Lead and support preparation of monthly and annual files for CMS formulary submissions, member formulary drug lists and look up tools, andutilization management criteria
- Evaluate drugs/drug classes, make formulary positioning and utilization management recommendations, and update formulary management strategies and associated adjudication requirements to operationalize
- Evaluate appropriateness of and operationalize custom client formulary and benefit change requests within the formulary and adjudication platform
- Support comprehensive testing of client formulary and benefit elections
- Provide cross functional support for claim troubleshooting within the adjudication platform
- Monitor and analyze regulatory and legislative requirements for Medicare
- Support development of project plans to meet new CMS requirements, and support cross functional teams with implementation of programs to meet requirements
- Lead formulary change processes within URAC/NCQA/CMS guidelines
- Pharmacy and Therapeutics (P&T) Committee participation as an ad hoc member
- Conduct formulary reviews and develop drug monographs based on a rotation of clinical pharmacists
- Maintain and update the Capital Rx pharmaceutical pipeline, as needed
- Develop clinical criteria for review as needed
- Support CMS formulary administration audits
- Support quality improvement projects as needed
- Support Request for Information (RFI) and Request for Proposal (RFP) submissions, as needed
- Support general business needs and operations, as needed
- Responsible for adherence to the Capital Rx Code of Conduct including reporting of noncompliance.
Minimum Qualifications:
- Doctor of Pharmacy (PharmD) Degree from an accredited institution, with record of strong academic performance
- Current, unrestricted registered pharmacist license(s)
- Residency/fellowship preferred
- 2-3 years of formulary experience working for a health plan or PBM preferred
- 2-3 years of Medicare experience preferred
- Knowledge of formulary development and maintenance processes
- Knowledge of highly managed specialty medications/strategy
- Knowledge of rebate and financial implications of formulary strategies
- Experience working with large datasets preferred
- Ability to independently identify, research, and resolve issues
- Ability to balance multiple complex projects simultaneously
- Ability to work extended hours, weekends, and holidays consistent with industry demands
- Exceptional written and verbal communication skills
- Extremely flexible, highly organized, and able to shift priorities easily
- Attention to detail & commitment to delivering high quality work product
- Microsoft office suite with emphasis on Microsoft excel proficiency required
Base Salary: $125,000 - $130,000
Nothing in this position description restricts management’s right to assign or reassign duties and responsibilities to this job at any time.
About Capital Rx
Capital Rx is a full-service pharmacy benefit manager (PBM) and pharmacy benefit administrator (PBA), advancing our nation’s electronic healthcare infrastructure to improve drug price visibility and patient outcomes. As a Certified B Corp™, Capital Rx is executing its mission through the deployment of JUDI®, the company’s cloud-native enterprise health platform, and a Single-Ledger Model™, which increases visibility and reduces variability in drug prices. JUDI connects every aspect of the pharmacy ecosystem in one efficient, scalable platform, servicing millions of members for Medicare, Medicaid, and commercial plans. Together with its clients, Capital Rx is reimagining the administration of pharmacy benefits and rebuilding trust in healthcare.
Capital Rx values a diverse workplace and celebrates the diversity that each employee brings to the table. We are proud to provide equal employment opportunities to all employees and applicants for employment and prohibit discrimination and harassment of any type without regard to race, color, religion, age, sex, national origin, disability status, medical condition, genetic information, protected veteran status, sexual orientation, gender identity or expression, or any other characteristic protected by federal, state or local laws