The posting
The Contract Specialist position ensures MedImpact’s client, pharmacy and vendor contracts and addenda are legally completed, implemented, and maintained. This position assists in delivering and promoting the overall vision, goals, objectives and strategies for the Contract Management department. As an individual contributor, the Contract Specialist handles day-to-day department activities and continually monitors performance against set goals and metrics.
• Health Insurance/HMO • Enjoy unlimited MadMax Coffee • Diverse learning & growth opportunities • Accessible Cloud HR platform (Sprout) • Above standard leaves
- Provides contract support to the department and internal Business Units within the company. Under supervision initially, completes new contracts, contract renewals, and addenda as needed with clients, pharmacies, and vendors;
- Under supervision initially, drafts, completes and negotiates terms of new contracts, contract renewals, addenda, and other contract forms (e.g., LOI, LOA, MOU) as needed with clients, pharmacies, and vendors;
- Manages the contract process from letter of intent to executed agreement as well as subsequent contract lifecycle management;
- Develops and maintains an understanding of the federal and state regulatory environment in which the Company operates to protect the Company from undue legal, financial and/or regulatory risk;
- Analyzes contracts and confers with the team to detect ambiguities, inaccurate statements, omission of essential terms, and conflict with possible legal and/or corporate policy prohibitions;
- Reviews revised contract language for all contracts, addenda, and other contract forms. Under supervision initially, approves or rejects requests for deviations from contract specifications and delivery schedules within scope of responsibilities or escalates deviations for approval beyond scope of responsibility;
- Drafts and assists with negotiations of standard contractual arrangements;
- Monitors contract performance to determine necessity for amendments or extensions of contracts and compliance to contractual obligations;
- Develops and maintains an understanding of the operational details of the Company in a strategic and proactive manner in order to assist the Company with its relationship with its customers;
- Helps ensure that deliverables are on time and meet the quality levels expected by the Company’s internal and external customers.
Supervisory Responsibilities
This job has no supervisory responsibilities; but helps provide guidance and mentoring to department intern roles (i.e., Contract Interns and Summer Interns).
Client Responsibilities
This is an internal and external direct client facing position that requires excellent customer service skills and interpersonal communication skills (listening/verbal/written). One must be able to: Respond promptly to client needs; Solicit client feedback to improve service; Respond to requests for service and assistance from clients; Meet commitments to clients; Manage difficult or emotional client situations with supervisory support.
Qualifications
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
Education and/or Experience
Associate’s Degree required and Bachelor’s Degree from a four-year college or university preferred; two or more (2+) years related experience and/or training; contracting expertise, preferably in the pharmacy benefit management or general healthcare arena, or equivalent combination of education and experience, is desirable.
Computer Skills
To perform this job successfully, an individual should have knowledge of Microsoft Office Suite and a working knowledge of relational databases.
Other Skills and Abilities
- Understanding of the managed healthcare industry preferred, including knowledge of ERISA, federal and state anti-kickback laws, and HIPAA privacy requirements;
- Demonstrated understanding of legal and regulatory requirements, and negotiation skills for contracts;
- Working knowledge of contract language;
- Demonstrated documentation skills; and
- Strong interpersonal skills, with demonstrated ability to effectively contribute to a team effort. Strong sense of ethics and integrity.
Reasoning Ability
Ability to solve practical problems and deal with a variety of concrete variables in situations where only limited standardization exists. Ability to interpret a variety of instructions furnished in written, oral, diagram, or schedule form.
Mathematical Skills
Candidates must have an understanding of mathematical calculations including fractions, decimals, ratios, proportions, and percentages. Understanding of medication dosing and pharmaceutical pricing methodologies is helpful but not required.
Language Skills
Ability to read, analyze, and interpret general business periodicals, professional journals, technical procedures, and/or governmental regulations. Ability to write reports, policies and procedures, and business correspondence. Ability to effectively respond to questions from groups of executives, managers, clients, and customers.
Competencies To perform the job successfully, an individual should demonstrate the following competencies:
Analytical - Synthesizes information; Collects and researches data; Uses intuition to complement data.
Problem Solving - Identifies and resolves problems in a timely manner; Gathers and analyzes information; Develops alternative solutions; Uses reason even when dealing with emotional topics.
Customer Service - Responds promptly to customer needs; Solicits customer feedback to improve service; Responds to requests for service and assistance; Meets commitments.
Oral Communication - Speaks clearly and persuasively in positive or negative situations; Listens and gets clarification; Responds well to questions; Participates in meetings.
Written Communication - Writes clearly and informatively; Edits work for spelling and grammar; Varies writing style to meet needs; Presents numerical data effectively; Able to read and interpret written information.
Business Acumen - Understands business implications of decisions; Displays orientation to profitability; Demonstrates knowledge of market and competition; Aligns work with strategic goals.
Physical Demands
The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
While performing the duties of this Job, the employee is regularly required to sit and talk or listen. The employee is occasionally required to stand; walk; use hands to finger, handle, or feel and reach with hands and arms. The employee must occasionally lift and/or move up to 35 pounds.
Work Environment
The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
The noise level in the work environment is usually moderate.
Working Hours
This is a non-exempt position requiring one to be able to work overtime from time to time in order to get the job done. Therefore one must have the ability to work nights, weekends or on holidays as required. This may be changed at any time to meet the needs of the business. The typical working hours for this position are Monday through Friday from 8:00am to 5:00pm.
Travel
This position requires very little travel; however, attendance at client or prospective client meetings, and at various industry conferences as part of an overall training program may be required.
