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This position manages the processes and functions in support of contracting activities for pharmacy to ensure accurate forecasting for contracts, assists as needed with the execution and administration of contract change notices and amendments (including any associated data analysis), and determines need for corrective actions when contract operations and performance are not optimal. The position is responsible for:
Contract administration of pharmacy agreements to include month-end revenue management, and timely communications (suppliers, Pharmacy Contract Managers, Directors and VPs).
Clearing Receivables in 8ball Forecasting tool and ensuring accuracy in payments and allocations. Noticing material trend changes and communicating these changes to Directors and VPs.
Financial management and fulfillment of month-end deadlines for pharmacy portfolio, to include cash management, tracking accounts receivable, and updating monthly forecasts. Reporting out monthly to Pharmacy team with status reports of receivables.
Providing subject matter expertise in pharmacy forecasting and 8ball forecasting tool.
Conducting supplier training for pharmacy suppliers related to the operational expectations of the GPO agreement inclusive of accurate payment and reporting expectations.
Invoicing smaller suppliers, as specified per pharmacy contract terms, with sales reports that they can use to pay their Administrative Fees.
Creating ad hoc reports and analytics for pharmacy team members, including managers, directors and VPs . This would include contract performance, market background, financial analysis, etc.
Key Responsibilities
Process Execution
Daily monitoring and updating of forecasting tool
Monitor and analyze contract sales data to maximize and forecast Premier administrative fees
Provide necessary information promptly to data management, pharmacy, Fee & Volume and Revenue Recovery teams when requested
Enforce contracts by ensuring that supplier sends detailed, accurate sales data to Premier regularly and accurately
Enable supplier integration into the contract management process
Assist in the optimization of contract management process
Prepare ad hoc reports and data analysis for projects as requested by pharmacy managers, directors and/or VPs
Proactively monitor contract sales on strategic contracts in the first 30-60-90 days and for new members for all contracts to ensure proper contract uptake
Properly allocate time to projects and tasks
Strategic / Administrative
Serve as point of contact for all forecasting/revenue issues within assigned area
Update pharmacy team monthly with reports highlighting late payers and large suppliers needing to pay at the close of each month.
Invoice small suppliers as specified in contract terms
Responsible for financial analysis, problem solving, securing approval of internal stakeholders, and managing supplier and internal communications through process completion.
Provide detailed data to suppliers and distributors to support Premier’s position concerning sales reporting issues
Develop and conduct supplier training as required
Support pharmacy team in strategic projects and revenue goals
Schedule and participate in monthly financial reviews with Directors and VP. Enter all changes needed into 8ball forecasting tool prior to month-end.
Quality Control
Ensure responsiveness to all internal and external clients to contribute to issue resolution and member & supplier satisfaction.
Ensure process deliverable standardization
Develop quality control measures/key performance indicators for pharmacy forecasting. Implement and monitor key performance indicators.
Develop process and technological improvements. Lead the implementation of these improvement initiatives.
Required Qualifications
Work Experience:
Years of Applicable Experience - 2 or more yearsEducation:
High School Diploma or GED (Required)
None
Additional Job Requirements:
Remain in a stationary position for prolonged periods of time
Be adaptive and change priorities quickly; meet deadlines
Attention to detail
Operate computer programs and software
Ability to communicate effectively with audiences in person and in electronic formats.
Day-to-day contact with others (co-workers and/or the public)
