Sr Director, Pricing & Reimbursement - Hybrid (Parsippany, NJ)
Parsippany, United States, New Jersey, 07054
Who we are
The opportunity
The primary role of the Sr. Director Pricing & Reimbursement is to oversee and determine strategic pricing and contracting strategies, and the tactical execution of those strategies to maximize the value of the Brand portfolio. This person must have in-depth knowledge of reimbursement, government pricing, and general pricing & contracting dynamics in order to best support the portfolio on WAC Pricing Recommendations for new products and in-line products and Reimbursement support. This role is also responsible for compliance and operational activities as it relates to WAC Pricing and Reimbursement. The Director Brand Pricing & Administration works closely with Market Access Strategy, Marketing, Government Pricing, Finance, Government Affairs, Patient Services, and Legal Affairs to implement all new product pricing and price increases.
Location: This is a hybrid role based in our Parsippany, NJ headquarters.
How you’ll spend your day
All areas of responsibility listed below are essential to the satisfactory performance of this position by any incumbents with reasonable accommodation if necessary. Any non-essential functions are assumed to be included in other related duties or assignments.
- Assist in developing and implementing WAC pricing and contracting strategies, prepare pricing analytics to evaluate strategy alternatives, and implement those strategies that maximize the brand access and product value. Provide strategic guidance to the USBP Brand teams on pricing.
- Represents Market Access on cross-functional teams relating to new product launches, product access initiatives, the financial impact of contracting, pricing activities and strategies, and evaluating the Gross-to-Net profile of business development opportunities.
- Provides reimbursement expertise, defined broadly to include how products are covered and paid for by payers under pharmacy or medical benefit, for government (Medicare B, C, D, Medicaid) or commercial insurance, and patient’s OOP costs. This includes understanding payer coverage policy criteria, understanding government pricing (ASP, AMP, BP, 340B), and coding/payment dynamics across innovative brands, biosimilars, 505(b)(2), and generics.
- Responsible for multiple compliance and operational activities related to Pricing and Reimbursement including but not limited to:
- Pricing Committee
- State pricing transparency submissions
- HCPCS and Pass-Through Applications
- Proposes WAC Price for new product launches and proposes WAC changes (increase or decrease) on existing products by continuously monitoring brand activity, competitive activity, and market conditions including but not limited to government pricing considerations.
- In collaboration with Government Payer Systems and Government Affairs Teams, monitors changes and proposals in healthcare regulations and policies as it relates to Pricing and Reimbursement; and develops frameworks to evaluate the commercial implications to patients, providers, payers, and Teva brands.
- Track and analyze WAC, coding and reimbursement status for Teva and competitors’ products, including WAC price changes, CMS updates to HCPCS codes, pass-through status, ASP, and SAD list. Take action if/when Teva products are incorrectly listed.
- Collaborate with Payer Marketing and Patient Services to create tools, training, and resources regarding Pricing and Reimbursement, including but not limited to Coding and Reimbursement Guides.
- Assess and recommend pricing packages for assets under business development evaluation
- Hires, trains, supervises, develops and retains high performing staff.
Your experience and qualifications
Any equivalent combination of education, training and/or experience that fulfills the requirements of the position will be considered.
Education/Certification/Experience:
- Bachelor’s degree required, ideally in Business, Math or Finance
- Minimum of 15 years in three or more of the following:
- Finance, Accounting, or analytical role in related Area
- Pharmaceutical experience in Market Access or Managed Care
- Pharmaceutical contracting and pricing experience
- Proven leadership experience over teams and processes
Experience preferred:
- Microsoft Excel, analysis tools, query tools, IT support systems
- Extensive financial skills including an in-depth understanding of financial statements, financial planning, and financial forecasting.
- Experience in the Pharmaceutical or Healthcare industry, preferably payer contracting for a manufacturer, Health Plan, or PBM and exposure to Trade, Retail, GPO, Federal, and Medicaid contracting.
- Experience in dealing with current Pharmaceutical and Healthcare issues, structure, rules, and laws including a thorough understanding of the Pharmaceutical legislative environment as it relates to HCR, IRA, MDRP, and reimbursement.
Skills/Knowledge/Abilities:
- Uses effective oral and written communication skills within and across functions
- Keeps others informed of decisions, changes, objectives, priorities, etc.
- Establishes and maintains cross-functional relationships
- Works well in teams and is self-motivated
- Is viewed as a knowledgeable resource by customers
- Role models appropriate team behavior and leads teams
- Creates an environment that encourages ownership, accountability, and teamwork
- Sets appropriate priorities
- Ability to handle large workload volume and tight deadlines
- Demonstrates solution-oriented approach and proficient problem-solving skills
- Uses ability to gain cooperation and alignment and to resolve conflicts
- Knows contract laws, rules and regulations
- Demonstrates the ability to draft and assist in negotiation of contracts
- Thorough understanding of Gross-to-Net
TRAVEL REQUIREMENTS
- Limited domestic travel throughout the US (<10%).
PHYSICAL REQUIREMENTS:
Occasional:
- Sitting for extended periods of time at work station or mobile equipment.
Visual Acuity:
- Perform activities such as computer work, preparing and analyzing data, and extensive reading.
WORKING ENVIRONMENT
- May be required to wear personal protective equipment (PPE) as needed on site visits (i.e. safety glasses, hearing protection, gloves, etc.).
Enjoy a more rewarding choice
We offer a competitive benefits package, including:
- Comprehensive Health Insurance: Medical, Dental, Vision, and Prescription coverage starting on the first day of employment, providing the employee enrolls.
- Retirement Savings: 401(k) with employer match, up to 6% and an annual 3.75% Defined Contribution to the 401k plan.
- Time Off: Paid Time Off including vacation, sick/safe time, caretaker time and holidays.
- Life and Disability Protection: Company paid Life and Disability insurance.
- The total compensation package for this position may also include other elements, including a sign-on bonus, restricted stock units, and discretionary awards in addition to a full range of medical, financial, and/or other benefits (including 401(k) eligibility and various paid time off benefits, such as vacation, sick time, and parental leave), dependent on the position offered. Details of participation in these benefit plans will be provided if an employee receives an offer of employment.
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Teva’s Equal Employment Opportunity Commitment
Teva Pharmaceuticals is committed to equal opportunity in employment. It is Teva's policy that equal employment opportunity be provided without regard to age, race, creed, color, religion, sex, disability, pregnancy, medical condition, genetic information, marital status, sexual orientation, gender identity or expression, ancestry, national or ethnic origin, citizenship status, military status or status as a disabled or protected veteran, or any legally recognized status entitled to protection under applicable federal, state, or local laws.
Please advise us of any accommodations needed to support you throughout the recruitment and selection process. All accommodation information provided will be treated as confidential and used only for the purpose of providing an accessible candidate experience. Request a reasonable accommodation by sending an email to disabilityassistance@tevapharm.com with the nature of your request and your contact information. Only inquiries concerning a request for a reasonable accommodation will be responded to from this email address.
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