Director, Trade Formulary Innovation
We're building a world of health around every individual — shaping a more connected, convenient and compassionate health experience. At CVS Health®, you'll be surrounded by passionate colleagues who care deeply, innovate with purpose, hold ourselves accountable and prioritize safety and quality in everything we do. Join us and be part of something bigger – helping to simplify health care one person, one family and one community at a time.
The Director, Trade Formulary Innovation supports development and execution of Trade's Formulary Strategy.The Director will be report to the Executive Director, Formulary Strategy and Operations, and support business cases, assist with execution of new initiatives, and maintain operational aspects of the Trade Strategy and Operations.
To innovate and achieve the growth targets the enterprise has set, the candidate will stay ahead of relevant trends in healthcare, facilitate reviews to support internal product teams; assist with business case development for top ideas; and coordinate cross functional efforts to optimize the team's value.The Director, Formulary Strategy will be expected to be creative, a big picture thinker, and able to impart organizational skills in maintaining the operational demands of the department.
Responsibilities include:
- Develop and execute Trade growth strategy: Identify and implement new initiatives to meet or exceed growth targets. Develop deep understanding within PBM/Trade to 'see around corners' as to where the market will be heading, consolidating insights and developing products to achieve market advantages
- Create business cases for new initiatives: Design, construct, and execute analyses to meet business case requirements using data that will often be self-sourced through observations, tests, interviews, and custom data pulls. Create and present business cases for newly identified growth initiatives / new ventures, backed by strong data and clearly-articulated assumptions
- Incubate and launch new growth opportunities: Ensure seamless project management of new ventures by influencing cross-functional partners and stakeholders, and overseeing project management support. Engage cross-functionally across the organization to design solutions, develop test and implementation plans, drive results, and resolve issues encountered by the team
- Manage personnel: Manage daily activities, including setting work activities, goals, priorities, and supporting colleague development.
- Produce thought leadership per executive requests: Research, draw relevant insights, and prepare responses for senior enterprise stakeholders on inquiries relevant to trade strategy
Required Qualifications:
- Minimum 10 years of relevant work experience
- 5+ years of experience in Strategy and/or Corporate Development within healthcare, with focus on expertise and experience working in the PBM or pharmaceutical segments
- 3+ years of experience building effective presentations for both cross-functional teams and senior leadership
- Mature problem solving, oral and written communication, and presentation skills; proficiency in Microsoft Excel and PowerPoint
- Demonstrated experience supporting multiple projects and priorities at once
Preferred Qualifications:
- 5+ years experience in managed care which may include pharmaceutical market access, pharmacy benefit management, formulary and rebate strategy setting, or with a focus on financial strategy
- Demonstrated experience in generating new ideas, backed by business cases, and shepherding them to in-market launch, especially within large organizations
- Direct team leadership or management experience of other professionals
Education:
Bachelor's degree in finance, healthcare, business, or related field required; or equivalent experience
MBA or Master's Degree preferred
Pay Range: $100,000.00 - $231,540.00
Our people fuel our future. Our teams reflect the customers, patients, members and communities we serve and we are committed to fostering a workplace where every colleague feels valued and that they belong.
Great benefits for great people
We take pride in offering a comprehensive and competitive mix of pay and benefits that reflects our commitment to our colleagues and their families. This full‑time position is eligible for a comprehensive benefits package designed to support the physical, emotional, and financial well‑being of colleagues and their families. The benefits for this position include medical, dental, and vision coverage, paid time off, retirement savings options, wellness programs, and other resources, based on eligibility.
Director, Trade Formulary Innovation
We're building a world of health around every individual — shaping a more connected, convenient and compassionate health experience. At CVS Health®, you'll be surrounded by passionate colleagues who care deeply, innovate with purpose, hold ourselves accountable and prioritize safety and quality in everything we do. Join us and be part of something bigger – helping to simplify health care one person, one family and one community at a time.
The Director, Trade Formulary Innovation supports development and execution of Trade's Formulary Strategy.The Director will be report to the Executive Director, Formulary Strategy and Operations, and support business cases, assist with execution of new initiatives, and maintain operational aspects of the Trade Strategy and Operations.
To innovate and achieve the growth targets the enterprise has set, the candidate will stay ahead of relevant trends in healthcare, facilitate reviews to support internal product teams; assist with business case development for top ideas; and coordinate cross functional efforts to optimize the team's value.The Director, Formulary Strategy will be expected to be creative, a big picture thinker, and able to impart organizational skills in maintaining the operational demands of the department.
Responsibilities include:
- Develop and execute Trade growth strategy: Identify and implement new initiatives to meet or exceed growth targets. Develop deep understanding within PBM/Trade to 'see around corners' as to where the market will be heading, consolidating insights and developing products to achieve market advantages
- Create business cases for new initiatives: Design, construct, and execute analyses to meet business case requirements using data that will often be self-sourced through observations, tests, interviews, and custom data pulls. Create and present business cases for newly identified growth initiatives / new ventures, backed by strong data and clearly-articulated assumptions
- Incubate and launch new growth opportunities: Ensure seamless project management of new ventures by influencing cross-functional partners and stakeholders, and overseeing project management support. Engage cross-functionally across the organization to design solutions, develop test and implementation plans, drive results, and resolve issues encountered by the team
- Manage personnel: Manage daily activities, including setting work activities, goals, priorities, and supporting colleague development.
- Produce thought leadership per executive requests: Research, draw relevant insights, and prepare responses for senior enterprise stakeholders on inquiries relevant to trade strategy
Required Qualifications:
- Minimum 10 years of relevant work experience
- 5+ years of experience in Strategy and/or Corporate Development within healthcare, with focus on expertise and experience working in the PBM or pharmaceutical segments
- 3+ years of experience building effective presentations for both cross-functional teams and senior leadership
- Mature problem solving, oral and written communication, and presentation skills; proficiency in Microsoft Excel and PowerPoint
- Demonstrated experience supporting multiple projects and priorities at once
Preferred Qualifications:
- 5+ years experience in managed care which may include pharmaceutical market access, pharmacy benefit management, formulary and rebate strategy setting, or with a focus on financial strategy
- Demonstrated experience in generating new ideas, backed by business cases, and shepherding them to in-market launch, especially within large organizations
- Direct team leadership or management experience of other professionals
Education:
Bachelor's degree in finance, healthcare, business, or related field required; or equivalent experience
MBA or Master's Degree preferred
Pay Range: $100,000.00 - $231,540.00
Our people fuel our future. Our teams reflect the customers, patients, members and communities we serve and we are committed to fostering a workplace where every colleague feels valued and that they belong.
Great benefits for great people
We take pride in offering a comprehensive and competitive mix of pay and benefits that reflects our commitment to our colleagues and their families. This full‑time position is eligible for a comprehensive benefits package designed to support the physical, emotional, and financial well‑being of colleagues and their families. The benefits for this position include medical, dental, and vision coverage, paid time off, retirement savings options, wellness programs, and other resources, based on eligibility.
