PBM Forecasting & Trend Analytics Director

Job Description

Job Description

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: Our purpose guides our actions and gives us confidence in the path ahead. With unwavering honesty and dependability, we embrace the pressure of challenging the old and exemplify ethical leadership to create the new.
• Courage: We face continuous challenges with grit and resilience. We embrace the discomfort of the unknown by balancing autonomy with empathy, and ownership with vulnerability. We boldly challenge the status quo to keep moving forward—always.
• Together: The success of SmithRx reflects the strength of our partnerships and the commitment of our team. Our shared values bind us together and make us one. When one falls, we all fall; when one rises, we all rise.

Job Summary:

SmithRx is seeking a Forecasting & Trend Analytics Director to join our growing team. In this strategic leadership role, you'll collaborate directly with senior executives and our key clients to ensure that SmithRx is achieving our objective of providing the lowest possible drug costs. This individual will be responsible for architecting Smith's strategy enhanced forecast analytics at both the customer and market levels. The role is key to identifying and developing the financial and clinical data strategies that project healthcare expenditures for our clients. This will entail collaborating with our Data Analytics, Clinical Strategy, Pricing, and Performance & Accountability teams. The ideal candidate will have a strong background in forecasting and analytics, and possess a balance in connecting analytical detail, market trends, and clinical information to develop an overall cohesive approach.

What you will do:

• Own the development, maintenance, and execution of forward-looking drug spend forecasting models.
• Quantify the impact of macro-market shifts in collaboration with Pricing team.
• Partner with the Clinical Strategy team to translate upcoming pharmacy market events into quantitative financial models.
• Evaluate customer level trends, to identify key drivers and inform future expectations at the overall spend levels.
• Translate highly complex actuarial and analytical findings into clear, compelling narratives for executive leadership, consultants, and sophisticated employer groups.
• Direct the creation of external trend reports showcasing the Smith's market expectations and cost-containment efficacy.
• Work with the Data Analytics team to build out model(s) for deeply understanding drug spend forecasts, and build reports to maximally automate the process of spend forecasting given customer specific trends.
• Actively participate in customer level assessment for ongoing retention activity
• Work closely with Sales and Proposals teams to craft offers to pharmacy consultants, brokers, and clients which properly reflect SmithRx's value.
• Engage pharmacy consultants and brokers to educate the market about SmithRx's market trend expectations and how Smith manages to optimize client outcomes against trend.
• Various other ad hoc strategic projects aimed supporting SmithRx growth initiatives

What you will bring to SmithRx:

• 8+ years of experience in analytical, forecasting, financial, actuarial or strategy roles, including 3+ years experience in healthcare and/or pharmacy industry related roles.
• Bachelor's degree or equivalent experience, advanced degree or MBA preferred.
• Strong familiarity with pharmacy industry dynamics and major market events.
• Prior experience in finance or consulting is a plus.
• Excel at both written and oral communication, adeptly presenting SmithRx trend expectations with a deep level of rigor to audiences including internal leaders, brokers, pharmacy consultants, and employers.

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