Pharmacy Financial Consultant

About the role

Marsh McLennan Agency's East Region, a leader in the employee benefits marketplace, is hiring a Pharmacy Financial Consultant in Conshohocken, PA. The consultant provides financial analysis using modeling tools to evaluate pharmacy benefit managers, including MMA East Rx's Coalitions, and supports financial evaluations, clinical management support and strategies alongside the Pharmacy Team and the Account Management Team.

Key responsibilities

• Support internal consulting and sales teams with financial, contractual and market analyses of pharmacy benefit programs, using proprietary tools to evaluate contract value and competitiveness.
• Assist with annual MMA East Rx Coalitions contract negotiations, providing financial analysis under the direction of the Pharmacy Practice Leader.
• Analyze and negotiate contract terms with the pharmacy benefit manager, together with the Account Manager and Underwriter, to secure cost-competitive procurement.
• Review, validate and reconcile marketing results, client proposals and contract performance, and complete market check evaluations.
• Support specialized client arrangements such as in-house pharmacies, 340B programs and third-party audits.
• Help with the yearly PBM marketplace evaluation through a detailed RFI covering formularies, networks, pricing models and clinical management programs.
• Take part in prospective client data analysis and presentations, and help build client deliverables such as stewardship reports, quarterly reports, dashboards and client service plans.
• Work with the operations team on the deployment and maintenance of the pharmacy database, and contribute to newsletters, webinars and training materials.

Required profile

• Bachelor's degree in business, finance, economics, healthcare, risk management, mathematics or a related field preferred; equivalent professional experience also considered.
• At least five years of prior experience with prescription drug benefits and pricing in the benefits brokerage, consulting or insurance industry.
• Knowledge of pharmacy benefit concepts such as plan design, pricing models, rebates, formulary management, networks, specialty pharmacy and vendor performance measurement.

Required skills

• Intermediate knowledge of MS Office (Word, Excel, Access, Outlook); working knowledge of pivot tables, Power BI and SQL with query writing experience preferred.
• Strong analytical, problem-solving and communication skills, with the ability to work in a fast-paced environment and handle multiple projects.

What we offer

• Base salary of $71,800 to $133,700, depending on experience, skills, location and education.
• Health and welfare benefits, tuition assistance, 401K and other retirement programs, and employee assistance programs.
• Performance-based incentives may be available.