Senior Analyst
Blue Cross Blue Shield Association · United States
- Hybrid
- Full-time
- $110,000 / year
- United States
Job highlights
- Analyze drug rebates and value-based contracts.
- Collaborate with internal teams and stakeholders.
- Manage financial analyses and reporting for manufacturers.
- Support client implementation and audit requests.
- Supervise and train analyst team members.
About the role
About Synergie Medication Collective
Synergie Medication Collective is a new medication contracting organization founded by a group of Blue Cross and Blue Shield affiliated companies to serve both Blues and select independent health plans. Synergie is focused on improving affordability and access to costly medical benefit drugs — ones that are injected or infused by a health care professional in a clinical setting — for nearly 100 million Americans.Job Description
The Senior Analyst performs complex, specialized financial analysis for rebate and value-based contract invoicing as part of Trade Relations. This position is also responsible for assisting contract negotiators, client engagement, and analytics teams to assess and manage the financial analyses and strategies related to rebates and value-based contracts with client pharmaceutical manufacturers.Responsibilities
- Assist in the development and implementation of additional reporting support tools, and the proactive investigation of various manufacturer contract issues and identify opportunities for process improvement
- In collaboration with other internal teams, implement non-financial tools, including proactive marketplace assessments, exploration of internal support requirements to implement contractual agreements, and the tracking of client elections
- Represent Trade Relations on corporate projects, including interaction with leadership; includes but limited to, IT projects, client ad hoc reporting, and Finance/Treasury projects
- Assist in invoicing process, financial analysis, rebate audit, client elections, and responding to inquiries; may facilitate client questions related to invoiced products/process and corresponding rates and qualification
- Assess, implement and communicate critical information to rebate invoicing vendors for maintenance of client elections, pricing bid grid, manufacturer contract updates, and other changes that impact the rebate invoicing process
- Analyze and resolve contract disputes working with invoicing vendors to ensure timely payment of rebates from manufacturers
- Reconcile manufacturer payments as compared to invoiced amounts to prepare for allocation of payments to clients
- Supports client implementation and audit requests
- Supervise and train rebate analyst
- Other duties as assigned
Required Education, Certifications and Experience
- Bachelor’s degree in business, healthcare, or other related field
- 5-8 years of work experience in a health care analyst, including health plan, health system, pharmacy and medical experience in managed care or specialty pharmacy with 3 years minimum at a health plan or PBM experience in medical and/or pharmacy drug management
- Strong data management and analytics skills with the ability to manage large data effectively
- 340B experience required
- Ability to facilitate changes, capture detailed information, and client support while maintaining Synergie’s best interests
- Ability to develop relationships and influence with internal and external stakeholders
- Critical thinking skills and ability to anticipate issues and develop solutions
- Must be eligible to work in the United States without need for work visa or residency sponsorship
Additional Qualifications
- Proven project management skills
- Strong data analytical skills
- Proficient in Microsoft products including Access, Excel, and Word
- Knowledge of PBM and/or health care industry
- Medical Pharmacy rebate knowledge
Preferred Qualifications
- Experience in database management
- Experience in Big Data and data analytics
- Experience with database (i.e., SAS, Teradata, Tableau, SQL, Power BI)
- Reporting Structure: Reports to the Sr. Director, Trade Relations
- #LI-Remote
Compensation and Benefits
$88,500.00 - $110,500.00 This is the lowest to highest salary we, in good faith, believe we would pay for this role at the time of this posting. We may ultimately pay more or less than the hiring range and this hiring range may also be modified in the future. A candidate’s position within the hiring range may be based on several factors including, but not limited to, specific competencies, relevant education, qualifications, certifications, relevant experience, skills, seniority, performance, shift, travel requirements, and business or organizational needs. This job is also eligible for annual bonus incentive pay. We offer a comprehensive package of benefits including paid time off, 11 holidays, medical/dental/vision insurance, generous 401(k) matching, lifestyle spending account and many other benefits to eligible employees. Note: No amount of pay is considered to be wages or compensation until such amount is earned, vested, and determinable. The amount and availability of any bonus, commission, or any other form of compensation that are allocable to a particular employee remains in the Company's sole discretion unless and until paid and may be modified at the Company’s sole discretion, consistent with the law.Key skills/competency
- Senior Analyst
- Financial Analysis
- Rebate Management
- Value-Based Contracts
- Healthcare Analytics
- Managed Care
- Pharmacy Management
- Data Management
- Project Management
- 340B Program
Skills & topics
- Senior Analyst
- Financial Analysis
- Rebate Management
- Value-Based Contracts
- Healthcare Analytics
- Managed Care
- Pharmacy Management
- Data Management
- 340B
- Health Plan
How to get hired
- Customize your resume: Highlight relevant healthcare, analytics, and 340B experience for the Senior Analyst role.
- Tailor your application: Address key responsibilities like financial analysis, rebate management, and client support.
- Prepare for interviews: Be ready to discuss your experience with PBMs, managed care, and data analysis tools.
- Showcase critical thinking: Demonstrate your ability to anticipate issues and develop solutions in healthcare finance.
Technical preparation
Master Excel for complex financial modeling.,Practice SQL for data extraction and analysis.,Familiarize with SAS, Teradata, Tableau, or Power BI.,Review 340B program regulations and operations.
Behavioral questions
Describe a complex financial analysis you led.,How do you handle contract disputes with vendors?,Explain your process for identifying process improvements.,How do you build relationships with external stakeholders?
Frequently asked questions
- What are the key responsibilities of a Senior Analyst at Blue Cross Blue Shield Association's Synergie Medication Collective?
- The Senior Analyst at Synergie Medication Collective is responsible for complex financial analysis of rebate and value-based contracts. This includes assisting contract negotiators, managing financial strategies, developing reporting tools, investigating contract issues, and reconciling manufacturer payments. You will also represent Trade Relations on corporate projects and supervise junior analysts.
- What educational background and experience are required for the Senior Analyst position?
- A Bachelor’s degree in business, healthcare, or a related field is required. You'll need 5-8 years of experience as a healthcare analyst, with at least 3 years in a health plan or PBM setting, focusing on medical and/or pharmacy drug management. Specific experience with 340B is also mandatory.
- What data analysis and technical skills are essential for this Senior Analyst role?
- Strong data management and analytics skills are crucial for managing large datasets effectively. Proficiency in Microsoft Access, Excel, and Word is expected. Experience with databases like SAS, Teradata, Tableau, SQL, or Power BI is highly preferred, along with knowledge of Big Data and data analytics.
- What is the salary range for the Senior Analyst position at Blue Cross Blue Shield Association?
- The estimated salary range for the Senior Analyst position is between $88,500.00 and $110,500.00 annually, not including potential annual bonus incentive pay. The exact salary will depend on various factors such as experience, skills, and qualifications.
- Does this Senior Analyst role require experience with the 340B program?
- Yes, experience with the 340B program is a mandatory requirement for this Senior Analyst position at Synergie Medication Collective.
- What kind of benefits does Blue Cross Blue Shield Association offer for this Senior Analyst role?
- Blue Cross Blue Shield Association offers a comprehensive benefits package, including paid time off, 11 holidays, medical, dental, and vision insurance, generous 401(k) matching, and a lifestyle spending account, among other benefits for eligible employees.
- What does 'Trade Relations' mean in the context of the Senior Analyst role?
- In this context, Trade Relations refers to the department responsible for managing relationships and financial agreements with pharmaceutical manufacturers, specifically concerning rebate and value-based contracts for expensive medical drugs.