We’re building a world of health around every individual — shaping a more connected, convenient and compassionate health experience. At CVS Health®, you’ll be surrounded by passionate colleagues who care deeply, innovate with purpose, hold ourselves accountable and prioritize safety and quality in everything we do. Join us and be part of something bigger – helping to simplify health care one person, one family and one community at a time. Position Summary Would you like to join CVS Health, a Fortune 5 company, on our multifaceted Pharmacy Benefits Management (PBM) Underwriting team? In this high-level individual contributor role, you will utilize your business, industry, competitive, client, and technical knowledge to formulate pricing strategy and to execute financial modeling of comprehensive pricing offers that include retail network, mail order, specialty, and pharmaceutical manufacturer rebates for PBM client contracts. Additional responsibilities to include but not limited to the following: Model and develop Truecost pricing proposals for Health Plan Clients Collaborating with PBM Sales and Account Services to provide recommendations on pricing and negotiation strategy to achieve revenue and profitability targets for new business growth and margin retention; and Applying advanced Excel modeling techniques to analyze large sets of pharmacy claims data and build forward looking financial forecasts and profit and loss (P&L) statements; and Presenting financial analyses to Executive Leadership during Executive Underwriting Approval Calls and responding to financial questions in real-time; and Supporting Underwriting Managers and Sr. Managers with ad-hoc financial analyses
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Role overview
Job description
We’re building a world of health around every individual — shaping a more connected, convenient and compassionate health experience. At CVS Health®, you’ll be surrounded by passionate colleagues who care deeply, innovate with purpose, hold ourselves accountable and prioritize safety and quality in everything we do. Join us and be part of something bigger – helping to simplify health care one person, one family and one community at a time.
CVS is looking to add a Sr Analyst, Pharmacy Underwriter. In this role, you would be responsible for supporting both new business and renewal case specific ASC (self-insured) Pharmacy Pricing, as well as developing financial offers that are both competitive and profitable. In this role, you would provide support with financial responses for Request For Proposal questionnaires.
The ideal candidate is able to anticipate customer needs and requirements as well as to facilitate and negotiate using tact and diplomacy.
They will be involved in training, projects, and mentoring others. Works primarily on complex or high visibility cases, markets or underwriting methods.
Additional Responsibilities are:
- Identifies training issues and recommends a course of action.
- Leads process improvement initiatives to improve productivity, accuracy and/or customer service and influences tool development
- Provides superior customer service
- Mentors and trains underwriting staff
- Ensures team members have the information to do their jobs
- Understands, applies and explains company services, product standards, underwriting policies, strategic direction and new initiatives relative to unit's responsibilities
- Grants underwriting exceptions and financial variances within prescribed limit
- Manages and/or participates on assigned projects and ensures project plans and/or work tasks are in alignment with overall goals
- Participate in broker/customer meetings
- Utilizes knowledge of competition and competitive position to evaluate risk and maximize profitability
- Negotiates and explains rate development and application of underwriting policy
- Analyzes problems or issues from different points of view to find the optimal solution
- Evaluates and manages complex and/or high visibility cases, identifies risks and recommends appropriate measures to manage risks while growing or retaining membership
- Assists team in meeting deadlines
- Delivers quality financial products for new and renewal business
- Builds strong cross-functional relationships with sales force and other internal organizations
Required Qualifications
- 3 years of relevant work experience
- 2 - 3 years of Pharmacy Underwriting experience required for this role
- Candidates must have both underwriting and pharmacy experience
Preferred Qualifications
- Extensive knowledge of the Aetna systems supporting ASC Pharmacy pricing methodology.
- Risk Assessment/Analysis, Communication, Negotiation, Adaptability,
Education
Bachelor's degree or equivalent years of work experience.
Anticipated Weekly Hours
40Time Type
Full timePay Range
The typical pay range for this role is:
$46,988.00 - $112,200.00This pay range represents the base hourly rate or base annual full-time salary for all positions in the job grade within which this position falls. The actual base salary offer will depend on a variety of factors including experience, education, geography and other relevant factors. This position is eligible for a CVS Health bonus, commission or short-term incentive program in addition to the base pay range listed above.
Our people fuel our future. Our teams reflect the customers, patients, members and communities we serve and we are committed to fostering a workplace where every colleague feels valued and that they belong.
Great benefits for great people
We take pride in offering a comprehensive and competitive mix of pay and benefits that reflects our commitment to our colleagues and their families.
Additional details about available benefits are provided during the application process and on Benefits Moments.
Qualified applicants with arrest or conviction records will be considered for employment in accordance with all federal, state and local laws.
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What they are looking for
Skills & requirements
Qualification
Bachelor's degree or equivalent years of work experience
Hiring company
Cvshealth
America's leading health solutions company, CVS Health® provides advanced health care from pharmacy services and health plans to health and wellness.
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