Senior Analyst, Contract & Formulary

Teva Pharmaceutical; Parsippany-Troy Hills (NJ); Hybrid; USD 99,000 - 112,000; Full time

Benefits offered by this job

Comprehensive Health Insurance

401(k) with employer match

Paid Time Off

Life and Disability Insurance

Employee Assistance Program

Job summary

Teva in Parsippany, NJ is seeking a Sr. Analyst Contracts & Formulary Compliance to identify and resolve compliance issues with contracted managed care customers. You will review formulary positions, validate product placement, and collaborate on contract terms and rebate strategies.

Hybrid role with 2 days onsite at Parsippany, NJ. Strong Excel/PowerPoint skills and 3+ years in financial/formulary analysis required. Competitive benefits offered.

Qualifications

• Thorough understanding of Managed Care contracting and formulary access.
• Ability to interpret contract terms and rebate flows.
• Experience with drug formularies and auditing basics.

Responsibilities

• Identify and resolve compliance issues with contracted managed care customers.
• Review formulary positions on PBM and Health Plan sites for alignment.
• Perform investigational audit reviews and present findings to stakeholders.
• Collaborate with rebates team to ensure timely review and payment of invoices.

Skills

Managed Care contracting

Contract terms understanding

Excel

PowerPoint

Formulary analysis

Tools

Excel

PowerPoint

Job description

We Are Teva

We’re Teva, a leading innovative biopharmaceutical company, enabled by a world-class generics business. Whether it’s innovating in the fields of neuroscience and immunology or delivering high-quality medicine worldwide, we’re dedicated to addressing patients’ needs now and in the future. Here, you will be part of a high-performing, inclusive culture that values fresh thinking and collaboration. You'll have the room to grow, the flexibility to balance life with work, and the opportunity to better health worldwide, together.

Our Team, Your Impact

The purpose of the position is to identify and resolve compliance and eligibility issues with contracted managed care customers. This position works with the Teva Market Access account managers and the contracted account to gain alignment on formulary product placement and compliance and to recover previously paid rebate or discounts in the event of noncompliant formulary findings.

Reporting to the Senior Manager, Contract & Formulary Compliance, the incumbent will be responsible for identifying and investigating formulary positions on PBM and Health Plan websites and formal Pharmacy Drug Lists (PDL) to validate product placement comply with all terms and conditions of the managed care contract. Using critical thinking skills and data analytics, the incumbent will complete complex investigational audit reviews, identify risks and compliance issues and present findings both verbally and in writing to key internal and external stakeholders. In addition, the Sr. Analyst Contract & Formulary Compliance will participate in identifying and recommending contracting strategy changes as it relates to the effectiveness of the contract terms and conditions.

This position is hybrid 2 days onsite at our Parsippany, NJ office

How You’ll Spend Your Day

• Establish an audit plan to review contracted account formularies across Commercial, Medicare Part D, and Medical channels
• Review Teva products on each formulary and assess compliance with the stated terms and conditions of contract; request and obtain supporting documentation (e.g., prior authorizations, step edits etc.) as needed to complete the assessment
• Support post-audit reviews and prepare ad-hoc analysis for account-related disputes
• Collaborate with the managed care rebates team to ensure timely review & payment of the monthly/quarterly invoices

Your Skills and Experience

Required:

• Thorough understanding of Managed Care contracting as it relates to formulary access and tier positioning; Industry understanding of step-edits, NDC blocks, prior authorizations, copay differentials, preferred and non-preferred status is a plus
• Ability to articulate a comprehensive understanding of contract terms and conditions
• Advanced understanding of pharmaceutical rebate flow and decision points
• 340B knowledge is a plus
• Minimum of 3 years’ experience in financial analysis
• Minimum of 2 years’ experience working with drug formularies
• Superior skills in Excel and PowerPoint

Also Good to Have

Preferred:

• Experience in brand pharmaceutical business, specifically in market access, rebate operations, and/or pharma contract compliance
• Strong negotiation and presentation skills
• Understanding of drug purchase discounts and their interaction with Rx based rebates

Salary Range

The annual starting salary for this position is between $99,440-$111,870 annually. Factors which may affect starting salary within this range and level of role may include geography/market, skills, education, experience and other qualifications of the successful candidate.

How We’ll Take Care of You

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.
• Additional benefits include, but are not limited to, Employee Assistance Program, Employee Stock Purchase Plan, Tuition Assistance, Flexible Spending Accounts, Health Savings Account, Life Style Spending Account, Volunteer Time Off, Paid Parental Leave, if eligible , Family Building Benefits, Virtual Physical Therapy, Accident, Critical Illness and Hospital Indemnity Insurances, Identity Theft Protection, Legal Plan, Voluntary Life Insurance and Long Term Disability and more.

The total compensation may also include restricted stock units and discretionary awards, depending on the position offered. Details of participation in these benefit plans will be provided if an employee receives an offer of employment.

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 [e-mail] 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.