Director, Pharmacy Business Operations

LifeBridge Health; Baltimore (MD); On-site; USD 180,000 - 240,000; Full time

Job summary

LifeBridge Health, Sinai Hospital of Baltimore, seeks a Director of Pharmacy Business Operations to lead analytics and financial reporting for pharmacy operations, targeting accurate acquisition costs, reimbursements, and margin improvements. You will collaborate with pharmacy leadership and finance to generate monthly P&L, manage A/R processes, and ensure 340B program compliance and reporting.

This role advances care quality and revenue integrity within a nationally recognized academic medical

Qualifications

• MBA or MHA or MPH or MSN - required.
• MBA or MHA - preferred.
• 7+ years experience - required.

Responsibilities

• Oversees all pharmacy analytics to support drug acquisition costs, reimbursements and margin targets.
• Prepares monthly profit and loss statements and reports to finance on financial issues.
• Oversees 340B contract pharmacies revenue cycle and manufacturer reporting.

Education

MBA or MHA or MPH or MSN - required

MBA or MHA - preferred

Job description

Summary

About the Role: The Director, Pharmacy Business Operations oversees all pharmacy analytics as needed by the pharmacy operational leaders to ensure accurate drug acquisition costs, reimbursements and identify trends to improve gross margin targets. Supports pharmacy leadership in preparing monthly profit and loss statements. Serves as primary liaison to the finance division on all financial related issues. Generate reports to identify performance improvement or business development opportunities. Oversees the Billing Clerk's functions to ensure accuracy in the A/R, aging A/R to minimize write-offs and bad debt. Will work with the Billing Clerk to ensure all invoices are sent to AP to be paid in a timely manner. Will report monthly A/R. Will work with the leadership on business development strategies, prepare metrics for provider group meetings, oversee any new program implementation. Oversees and manages all 340B contract pharmacies revenue cycle. Will work with the 340B Analyst and 340B Coordinator to ensure all manufacturer reporting is submitted. Works to implement all contracts to ensure it is in compliance with the Office of Pharmacy Affairs'340B Drug Discount Program. Will also oversee all reporting requirements needed to obtain and maintain URAC and ACHC Specialty accreditation and any manufacturer reporting.

Responsibilities

Abides by the laws and regulations that govern our business to ensure operational excellence. Ensures competencies are completed for employees. Reports Key Performance Indicators needed to maintain URAC and ACHC Specialty requirements and Specialty pharmacy PI reports. Monitors monthly operating expense performance of assigned department(s) with respect to annual budget and other targets established by senior leadership, including but not limited to operating budget, productivity standards, overtime utilization and premium pay standards. Communicates, collaborates and cultivates an atmosphere of inclusion/belonging. Ensures appropriate hiring, as well as providing a welcoming and supporting environment for new team members. Champions the patient experience and commits to being relationship focused. Ensures team members' pay is accurate and effective to meet business needs. Manages the performance and development of individuals and teams. Responsible for directing, assigning, and reviewing work. Responsible for discipline of employees or providing input for disciplinary action, up to and including termination. Commits to being a good steward of LifeBridge Health's resources.

Qualifications

Education

• MBA or MHA or MPH or MSN - required
• MBA or MHA - preferred

Experience

7+ years experience - required

Sinai Hospital of Baltimore is a nationally recognized academic medical center, a designated Level II Trauma Center, and the largest community hospital in Maryland. As part of LifeBridge Health - one of the region's most comprehensive healthcare systems - Sinai delivers advanced care with a mission to improve the health of the communities we serve, and to take care of the people who take care of patients.