Executive Director Pharmacy Formulary & Utilization

Riverside Health; Newport News, Northern (VA, KY); Hybrid; USD 168,000 - 244,000; Full time

Job summary

Riverside Health in Newport News, VA is seeking a Pharmacy Director of Formulary & Utilization Management to provide enterprise leadership over the health system’s medication formulary, formulary management system, and utilization programs.

The role partners with pharmacy leadership, supply chain, analytics, medical staff, and service lines to drive financial stewardship and high‑quality medication management.

Qualifications

• Knowledge of formulary governance and evidence-based drug evaluation.
• Experience with utilization management strategies and step therapy.
• Familiarity with pharmacoeconomics and financial modeling.

Responsibilities

• Provides enterprise leadership of the system formulary and formulary management system, directing governance processes and systemwide implementation, while co‑chairing the P&T Committee.
• Leads systemwide utilization management strategies, including drug-use criteria and therapeutic substitutions.
• Oversees high-cost therapeutic management, including class reviews, monographs, and interdisciplinary collaboration to improve access and value.
• Directs product and medication-use optimization to standardize medications and improve safety and efficiency.
• Provides pharmacoeconomic leadership with budget impact, ROI, and total-cost-of-care modeling to inform decisions.
• Identifies and leads systemwide financial initiatives to reduce drug spend and improve financial performance.
• Monitors medication utilization and financial trends, delivering executive-level reporting on key indicators.
• Oversees EMR formulary integration and CDS tools to support safe prescribing and policy compliance.

Skills

Formulary governance

Utilization management

Pharmacoeconomics

Budget impact analyses

Therapeutic interchange

Cross-functional leadership

Clinical decision support

Data analytics

Education

Bachelor's Degree in Pharmacy

Job description

Riverside Health in Newport News, VA is seeking a Pharmacy Director of Formulary & Utilization Management to provide enterprise leadership over the health system’s medication formulary, formulary management system, and utilization programs.

The role partners with pharmacy leadership, supply chain, analytics, medical staff, and service lines to drive financial stewardship and high‑quality medication management.