The Pharmacy Benefit Consultant - Health Plans will serve as a lead consultant on projects with a focus on national and regional health plan clients. This role requires a high level of curiosity and a commitment to continuous learning to address the gamut of pharmacy challenges faced by payers today, while serving a demanding client base. To ensure success, the Pharmacy Benefit Consultant is supported by PSG resources, data and tools, internal knowledge sharing among peers, shadowing opportunities with established consultants and mentorship from leaders. A successful candidate for this role thrives in a high demand/high reward environment that values critical thinking and ability to execute on multiple and concurrent priorities.
In exchange for the efforts, a successful candidate will gain:
- Exposure to PSG's vast portfolio of challenging projects supporting health plan and plan sponsor clients, PSG's industry insights and proprietary procurement database
- Being a part of a high performing team with an established reputation
- Experience leading projects that result in innovative strategies that shape the pharmacy industry
- Long standing, multi-level client relationships
- A vast professional network of leaders across the pharmacy benefit and managed care industry
- Opportunities for unparalleled professional growth including increased visibility by demonstrating thought leadership on PSG's platforms
Responsibilities include:
Business Strategy Projects- End to end ownership of client specific business strategy projects. Responsibilities include client relationship management, upfront planning and strategy creation, in-depth research and analysis, thorough execution, and delivery to the client.
- Examples of projects include organizational assessments, PBM or vendor contract reviews, process gap analyses, market and landscape analyses, go-to-market strategies, unique clinical or quality initiatives that improve delivery of healthcare
Client Management and Consulting Retainers- Identify and maintain appropriate multi-level client relationships and a deep understanding of client business and corporate culture resulting in high client satisfaction and retention rates.
- Develop and implement customized strategic plans based on unique client needs to achieve targeted long- and short-term goals.
- Delivery of client-specific insights on industry happenings and leveraging PSG's best-in-class research to provide data-driven insights and recommendations on an ongoing basis
- Identify opportunities to engage internal PSG experts on custom projects and analyses.
- Responsible for renewal of client relationships and creating strategy, scope of services and appropriate fee structure to match client needs.
Program and Business Development- Assess opportunity for expanding PSG services within existing client relationships.
- Leverage client relationships for PSG prospecting efforts by creating developing client references.
- Participation in conferences and other forums for showcasing program experience and success.
- Participate in internal workgroups to develop new programs, services, corporate positions, and publications based on the continual assessment of client and market needs.
Procurement and RFP Process Management- Lead the development and management of the procurement, market check and request for proposal (RFP) strategy and process for clients including RFP creation, vendor selection meetings and contract execution (in conjunction with internal RFP coordinator).
- Participate in non-client RFP processes via scoring and client meeting assistance.
Contract Negotiation, Review and Execution- Lead the review process for new and renewing vendor contracts through final execution to ensure current terms, definitions and compliance with RFP requirements.
- Negotiate market leading business terms and conditions on behalf of PSG clients
Qualifications (Minimum Requirements)- Knowledge of PBM, pharmacy and managed care environments (3-5 years minimum experience).
- Ability to develop strategies and implement programs for large client Rx and medical benefit programs
- Ability to create client-facing written materials and communications using Microsoft Word and PowerPoint
- Impeccable organizational skills and ability to work independently
- Strong verbal and written communication skills including presentation skills and client relationship management experience; with the ability to adjust your style to suit different perspectives and seniority levels.
- Strong financial analysis skills using Microsoft Excel
- Pharmacy Benefits or Managed Care work experience with bachelor's degree; MBA or PharmD/RPh strongly preferred
COMPENSATION:
The national average salary for this role is $180,000.00 - $200,000.00 in base pay and exclusive of any bonuses or benefits. The base salary offered will be determined based on your experience, skills, training, certifications, and education, while also considering internal equity and market data.
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