The posting
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 Pricing & Forecasting Leader 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 leading the Pricing team in support of crafting winning PBM offers. The Pricing team supports all pricing activity, for both new opportunities and retention opportunities, for employer groups of all sizes and industries. This role will collaborate closely with our Sales team and Proposals team, as well as our Strategy, Consultant Relations, Partnerships, Legal,Supply Chain, and Account Management teams and be a critical driver of SmithRx’s growth. In addition, this role will be responsible for architecting Smith’s strategy enhanced forecast analytics at both the customer and market levels, with an emphasis on influence on its impact on pricing offers and guarantees. The ideal candidate will have a strong background in pricing & underwriting, as well as forecasting and analytics. They will possess a balance in connecting analytical detail, market trends, and clinical information to develop an overall cohesive pricing approach.
What you will do:
- Lead the Smith Pricing team, which is responsible for the pricing and guarantees submitted for all proposals.
- Collaborate with the Sales team to adapt and refine pricing offers to best suit the needs of prospects and enable SmithRx to win.
- Own the development, maintenance, and execution of forward-looking drug spend forecasting models.
- 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.
- Work closely with Sales and Proposals teams to craft offers to pharmacy consultants, brokers, and clients which properly reflect SmithRx’s value.
- Compose offers that employers understand and find compelling.
- Generate pricing and related answers to be entered into RFP platforms.
- Partner with Strategy, Supply Chain, and Clinical to develop next generation pricing models for Pharmacy Benefits.
- Partner with the Clinical Strategy team to translate upcoming pharmacy market events into quantitative financial models, and quantify the impact of macro-market shifts.
- 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 new opportunities and retention activity.
- Various other ad hoc strategic projects aimed supporting SmithRx growth initiatives.
What you will bring to SmithRx:
- 10+ years of experience in analytical, forecasting, financial, actuarial or strategy roles, including 5+ years experience in healthcare and/or pharmacy industry related roles
- Prior experience at PBM or Pharmacy Consulting is preferred
- Experience working with historical claims data to assess and manage risk by conducting reprice and trend analyses
- Strong familiarity with pharmacy industry dynamics and major market events
- Experience with leading conversations with employers, brokers and pharmacy benefits consultants regarding pharmacy benefits
- Bachelor's degree or equivalent experience, advanced degree or MBA preferred
- You have a proven track record of delivering exceptional, quantifiable business impact
- You have experience in a highly strategic, analytical and operational role in fast-paced environments
- You are low ego and have a knack for working well with a wide range of people
- You excel at using data to reach decisions and are comfortable demonstrating these skills to external stakeholders
- 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
Zone A includes the following locations:
- San Francisco Bay Area - California
- Metro New York City - Connecticut, New Jersey, New York and Pennsylvania
Zone A Pay Range
$250,000—$300,000 USD
Zone B includes the following locations:
- California - outside of San Francisco Bay Area
- Metro Denver / Boulder - Colorado
- Metro District of Columbia - District of Columbia, Maryland, Virginia and West Virginia
- Metro Boston / Cambridge - Massachusetts and New Hampshire
- Metro Austin - Texas
- Metro Seattle - Washington
Zone B Pay Range
$250,000—$300,000 USD
Zone C includes all other locations not listed above, including:
- Alabama, Alaska, Arizona, Arkansas, Delaware, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Mexico, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Rhode Island, South Carolina, South Dakota, Tennessee, Utah, Vermont, Wisconsin, Wyoming
- Non metro Colorado, Connecticut, Maryland, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, Texas, Virginia, Washington, and West Virginia
Zone C Pay Range
$250,000—$300,000 USD
Compensation & Benefits
- Base Salary: The range listed above reflects our standard pay scale and actual pay will vary based on work location, job level, job-related knowledge, skills, and experience.
- Total Rewards: In addition to base pay, this role may be eligible for bonuses, commissions, or equity. SmithRx offers a variety of benefits to help you live well, including: time off programs, medical, dental, vision, mental health support, paid parental leave, life and disability insurance and 401(k).
Individual offers are tailored to your geography, experience, skills, and education. Your recruiter can share more specific details during the hiring process. In the meantime, feel free to explore our comprehensive benefits here.
