Pharmacy Business Manager

About the role

The Pharmacy Business Manager will partner with and provide direct support to the Director of Pharmacy Operations and Support Services to develop and maintain strategic, operating and financial plans to accomplish the Enterprise Mission and departmental financial goals. The position is responsible for planning, evaluating, coordinating, administering, implementing and reviewing of all pharmacy financial activities.

Responsibilities

• Partner with and provide direct support to the Director of Pharmacy Operations and Support Services to develop and maintain strategic, operating and financial plans to accomplish the Enterprise Mission and departmental financial goals.
• Prepare the expense and capital budgets, prepare financial reports and statistics, analyze and assess financial benchmark data, assist with the evaluation of new programs that could impact the finances of the pharmacy, and assist in the management of supply expenses.
• Manage daily financial business issues and challenges for the Pharmacy Department including the overall maintenance and accuracy of the pharmacy charge master and pharmacy charge capture, identify cost saving opportunities and support implementation of efficient business operations.
• Collaborate with the Pharmacy Managers, 340B Compliance Analyst and the Pharmacy Purchasers on financial related issues.
• Manage and ensure compliance with the 340B drug discount program, develop policy and procedures related to the 340B program, perform both self-audits and external audits, oversee maintenance of the split billing software, oversee 340B drug purchasing and inventory processes, assist with coordinating the development, implementation, and evaluation of new contract pharmacy business, facilitate 340B Committee Meetings, oversee the daily financial business for the department including interdepartmental billing, charging, and invoice processing for accounts payable/receivable for the Inpatient Pharmacy, Outpatient Pharmacy and Investigational Pharmacy.
• Work with Pharmacy Managers in resolving problems related to financial issues and practices as well as assist with financial contract reviews.
• Serve as a Pharmacy educator and resource to department members, and other members of the hospital as related to business processes, financial systems, and pertinent policies and procedures as related to the Pharmacy department and the 340B drug discount program.
• Analyze and interpret financial data and make recommendations regarding cost saving opportunities and participate in cost containment initiatives.
• Works with Legal and Contracts to establish contracts and agreements for the Pharmacy Department. Maintain and annually review existing contracts for compliance.
• Maintain the Pharmacy’s Charge master for medications ensuring that they are updated timely and accurately with new medications and changes in medication pricing.
• Works as an integral member of the Pharmacy Leadership Team.

Requirements

• Master's Degree or higher required.
• Minimum of three (3) to five (5) years experience required.
• Business management experience required in similar position and/or proven track record of success with similar job functions required in this role (preferred pharmacy business related experience).
• Must have working knowledge of billing, budget preparation, and fiscal management.
• Must have experience with 340B Program management.
• Advanced knowledge and abilities to utilize Microsoft Excel.

Qualifications

Master's Degree or higher required. Minimum of three (3) to five (5) years experience required. Business management experience required in similar position and/or proven track record of success with similar job functions required in this role (preferred pharmacy business related experience). Must have working knowledge of billing, budget preparation, and fiscal management. Must have experience with 340B Program management. Advanced knowledge and abilities to utilize Microsoft Excel.