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Position Name: PBM Pricing Analyst
Reports to: Chief Operating Officer
Position Summary + Scope of Responsibilities
The Pricing Analyst has a strategic role making a direct impact on this company’s client satisfaction with the goal of increasing our competitiveness and profitability by retaining and growing our business. Serving as an expert consultant on matters pertaining to analyzing pricing, assessing performance guarantees, and actuarial analysis, this position will be responsible for using statistical models to analyze data and assess risk.
Principal Roles and Responsibilities
• Evaluates the utilization and financial experience of clients and prospects
• Translate pricing data into actionable profit-enhancing strategies
• Collaborating with business development and operations on developing and implementing competitive pricing strategies
• Responsible for research and analysis of information to provide recommendations on calculation issues while protecting the organization from unnecessary risk
• Review repricing documents
• Produce reports on analysis findings
• Identify liabilities and risks
• Identify trends in the data
• Verifying and identifying sources of data
• Comfortable working in a fast-paced industry, as well as when conducting predictive modeling or advocating on behalf of a client or patient.
• Proactively identify opportunities for improvements in processes and programs
• Evaluate incumbent pricing for anomalies
Minimum Requirements (Experience + Education)
• Bachelor’s Degree or equivalent experience; Finance or Business Degree preferred
• 3+ years of drug pricing/financial analysis or related experience in the managed care industry
• Excellent critical thinking, problem-solving, and communication skills
• Exceptional mathematical and statistical knowledge and understanding
• Experience with spreadsheets and databases
• Basic understanding of business and finance
• Previous PBM experience in this role, preferred
Physical Demands and Work Environment
While performing the duties of this job, the employee is exposed to weather conditions prevalent at that time. The noise level in the work environment is usually moderate. While performing the duties of this job, the employee is frequently required to sit, use hands and fingers, and type for up to eight (8) hours in a workday. Employee is required to stand and/or walk for short periods of time and occasionally lift and/or move up to 25 pounds.
The above statements are intended to describe the general nature and level, or work being performed by people assigned to this classification. They are not to be constructed as an exhaustive list of all responsibilities, duties, and skills required of personnel so classified. All personnel may be required to perform duties outside of their normal responsibilities from time to time, as needed.