Formulary Strategy Development… at Elevance Health · Wallingfo…

Formulary Strategy Development Director Location: CT-WALLINGFORD, 108 LEIGUS RD Anticipated End Date: 2026-05-23 Position Title: Formulary Strategy Development Director Job Description: Formulary Strategy Development Director Location: This role requires associates to be in-office 3 days per week, fostering collaboration and connectivity, while providing flexibility to support productivity and work-life balance. This approach combines structured office engagement with the autonomy of virtual work, promoting a dynamic and adaptable workplace. Willing to consider locations other than those listed. Please note that per our policy on hybrid/virtual work, candidates not within a reasonable commuting distance from the posting location(s) will not be considered for employment, unless accommodation is granted as required by law A proud member of the Elevance Health family of companies, CarelonRx leverages the power of new technologies and a strong, clinical-first lens, to deliver member-centered, lasting pharmacy care. CarelonRx's Pharmaceutical Contract Strategy Organization is looking to hire a Formulary Strategy Development Director.  This high-performing individual contributor will play a key role in driving affordability across multiple lines of business (Commercial, Medicaid, Medicare, ASO clients) by partnering with internal and external stakeholders to drive formulary strategy and rebate optimization.  This Director will collaborate with cross-functional partners to identify and unlock new value and growth opportunities through the optimization of existing formulary solutions and development of new formulary solutions to meet market needs. Advocating internally and externally to advance CarelonRx’s unique value proposition across multiple formulary product solutions. How you will make an impact: Partner with key internal and external stakeholders to drive value and innovation through formulary strategy development and optimization. Present contract scenarios and opportunities to internal stakeholders and health plan and client  decision-makers across multiple lines of business to gain alignment on strategy and implementation. Ensure that formulary and contract strategy aligns with overall strategic objectives. Collaborate with internal and external partners to develop and implement future revenue, formulary product portfolio expansion and membership growth initiatives. Provides consultative support to sales and account management partners, including development of strategies to win new business and retain current clients by increasing rebates and supporting the sales process. Build solid and collaborative relationships with pharmaceutical manufacturer partners. Requirements; BA/BS degree in a related field and minimum of 8 years contract negotiation and sales experience; or any combination of education and experience, which would provide an equivalent background. Preferred skills, Capabilities experiences: 8 years in the healthcare industry with a pharmacy focus and experience working inside a Pharmacy Benefit Manager (PBM), Health Plan, or related pharmacy business in functions that span formulary development, business strategy, clinical strategy, contract negotiation, financial analysis, and client management or sales. Proven experience and success with formulary strategy development, formulary solution design, and their execution across multiple lines of business. MBA or PharmD degree and track record of driving business strategy, growth and innovation. Experience working with pharmaceutical manufacturer contracts as well as pricing, forecasting, trend analysis and financial modeling Pharmacy Supply chain knowledge including Specialty Pharmacy, Site of Care and Network Solutions. Strong analytical skills including developing reports and synthesizing data to identify trends Highly collaborative, comfortable to work across matrix organization on problem resolution, negotiation, consensus building, conflict management, and decision-making. Customer-focused and dedicated to meeting and exceeding customer expectations. For candidates working in person or virtually in the below locations, the salary* range for this specific position is $153,560 to $240,810 Location(s): California, Illinois In addition to your salary, Elevance Health offers benefits such as a comprehensive benefits package, incentive and recognition programs, equity stock purchase and 401k contribution (all benefits are subject to eligibility requirements). The salary offered for this specific position is based on a number of legitimate, non-discriminatory factors set by the Company.  The Company is fully committed to ensuring equal pay opportunities for equal work regardless of gender, race, or any other category protected by federal, state, and local pay equity laws. * The salary range is the range Elevance Health in good faith believes is the range of possible compensation for this role at the time of this posting. This range may be modified in the future and actual compensation may vary from posting based on geographic location, work experience, education, and/or skill level. Even within the range, the actual compensation will vary depending on the above factors as well as market/business considerations. No amount is wages or compensation until such amount is earned, vested, and determinable under the terms and conditions of the applicable policies and plans. The amount and availability of any bonus, commission, benefits, or any other form of compensation and benefits 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. Job Level: Director Equivalent Workshift: 1st Shift (United States of America) Job Family: PUR > Contract Mgmt Please be advised that Elevance Health only accepts resumes for compensation from agencies that have a signed agreement with Elevance Health. Any unsolicited resumes, including those submitted to hiring managers, are deemed to be the property of Elevance Health. Who We Are Elevance Health is a health company dedicated to improving lives and communities – and making healthcare simpler. We are a Fortune 25 company with a longstanding history in the healthcare industry, looking for leaders at all levels of the organization who are passionate about making an impact on our members and the communities we serve. How We Work At Elevance Health, we are creating a culture that is designed to advance our strategy but will also lead to personal and professional growth for our associates. Our values and behaviors are the root of our culture. They are how we achieve our strategy, power our business outcomes and drive our shared success - for our consumers, our associates, our communities and our business. We offer a range of market-competitive total rewards that include merit increases, paid holidays, Paid Time Off, and incentive bonus programs (unless covered by a collective bargaining agreement), medical, dental, vision, short and long term disability benefits, 401(k) +match, stock purchase plan, life insurance, wellness programs and financial education resources, to name a few. Elevance Health operates in a Hybrid Workforce Strategy. Unless specified as primarily virtual by the hiring manager, associates are required to work at an Elevance Health location at least once per week, and potentially several times per week. Specific requirements and expectations for time onsite will be discussed as part of the hiring process. The health of our associates and communities is a top priority for Elevance Health. We require all new candidates in certain patient/member-facing roles to become vaccinated against COVID-19 and Influenza. If you are not vaccinated, your offer will be rescinded unless you provide an acceptable explanation. Elevance Health will also follow all relevant federal, state and local laws. Elevance Health is an Equal Employment Opportunity employer, and all qualified applicants will receive consideration for employment without regard to age, citizenship status, color, creed, disability, ethnicity, genetic information, gender (including gender identity and gender expression), marital status, national origin, race, religion, sex, sexual orientation, veteran status or any other status or condition protected by applicable federal, state, or local laws. Applicants who require accommodation to participate in the job application process may contact elevancehealthjobssupport@elevancehealth.com for assistance. Qualified applicants with arrest or conviction records will be considered for employment in accordance with all federal, state, and local laws, including, but not limited to, the Los Angeles County Fair Chance Ordinance and the California Fair Chance Act. Prospective employees required to be screened under Florida law should review the education and awareness resources at HB531 | Florida Agency for Health Care Administration. NOTE: Workday keeps job postings active through 11:59:59 PM on the day before the listed end date. Example: If the end date is 3/13, the posting will automatically come down on 3/12 at 11:59:59 PM. In other words — the job is posted until 3/13, not through 3/13. Additional Locations: CA-WOODLAND HILLS, 21215 BURBANK BLVD, GA-ATLANTA, 740 W PEACHTREE ST NW, FL-LAKE MARY, 3200 LAKE EMMA RD, STE 1000, CA-COSTA MESA, 3080 BRISTOL ST, STE 200, IN-INDIANAPOLIS, 220 VIRGINIA AVE, OH-MASON, 4361 IRWIN SIMPSON RD, MO-ST. LOUIS, 100 S 4TH ST, IL-CHICAGO, 233 S WACKER DR, STE 3700