Director of Pharmacy Formulary & Utilization Strategy

101 Riverside Hospital, Inc.; United States; On-site; USD 168,000 - 244,000; Full time

Job summary

Riverside Health System in Newport News, VA is seeking a Director of Pharmacy Formulary & Utilization Management to provide enterprise leadership over the system formulary and related programs across inpatient and outpatient settings.

You will partner with pharmacy leadership, supply chain, analytics, medical staff, and service lines to drive cost-effective medication use, standardization, and high-quality patient care.

Qualifications

• Bachelor's degree in Pharmacy required.
• 3 years of clinical pharmacy experience required.
• 2 years of leadership or supervisory experience required.
• 1 year PGY-1 residency required.
• 1 year PGY-2 residency preferred.

Responsibilities

• Provides enterprise leadership of the system formulary and management system, directing governance processes, evidence review standards, approval pathways, and systemwide implementation, while co-chairing the P&T Committee to ensure alignment with quality, clinical, and operational priorities
• Leads systemwide utilization management strategies, including development of drug-use criteria, therapeutic substitutions, and step-therapy protocols designed to optimize clinical appropriateness and reduce unwarranted variation
• Oversees high-cost therapeutic management, guiding therapeutic class reviews, formulary monograph development, evidence evaluations, and interdisciplinary collaboration to improve access, care coordination, and value for complex and specialty therapies
• Directs product and medication-use optimization initiatives, ensuring enterprise standardization of medication products, concentrations, and therapeutic interchange programs to enhance safety, efficiency, and consistency across the organization
• Provides pharmacoeconomic leadership, conducting budget impact assessments, ROI analyses, and total-cost-of-care modeling to support formulary decisions and strategic planning for high-cost and emerging therapies
• Identifies and leads systemwide financial management initiatives aimed at reducing drug spend, improving therapeutic value, minimizing waste, and enhancing the financial performance of the pharmacy enterprise in collaboration with finance, reimbursement, and payer strategy teams
• Monitors enterprise medication utilization and financial trends, leveraging analytics and benchmarking to identify opportunities, anticipate market shifts, evaluate medication mix, and deliver executive-level reporting on key indicators
• Oversees formulary-related EMR integration and clinical decision support, ensuring medication builds, order sets, and CDS tools support safe prescribing, formulary compliance, high-cost drug management, and utilization management policies
• Provides leadership, collaboration, and team oversight, fostering strong relationships with clinicians and operational partners, ensuring clear communication of formulary decisions and medication-use policies, and cultivating a culture of accountability, continuous improvement, and alignment with system priorities

Skills

Formulary governance

Utilization management

Pharmacoeconomics

Cross-functional collaboration

Leadership

Education

Bachelor's in Pharmacy

Pharmacist licensure

Job description

Riverside Health System in Newport News, VA is seeking a Director of Pharmacy Formulary & Utilization Management to provide enterprise leadership over the system formulary and related programs across inpatient and outpatient settings.

You will partner with pharmacy leadership, supply chain, analytics, medical staff, and service lines to drive cost-effective medication use, standardization, and high-quality patient care.